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AI music startup Endel raises $15m in latest funding round

Fresh from its latest artist collaboration with James Blake, AI music startup Endel has raised a new round of funding. It’s a $15m Series B round led by VC firms Waverley Capital and True Ventures, according to TechCrunch.

It also reported that Endel now has more than one million monthly active users of its apps, and that those users are listening to 1.5m hours of music a month (so: averaging 1.5 hours each?).

“In three to five years, I believe Endel will be the platform for functional audio,” said CEO Oleg Stavitsky. “What we want to get to is a user opening Endel and seeing just one big play button and you press play and then it automatically sees how many meetings you’ve had today, what your heart rate is like, what the weather is like and then proactively shifts between soundscapes.”

However, the funding isn’t entirely without controversy: Business Insider put Endel on the defensive over the fact that one of the investors, Impulse VC, is backed by sanctioned Russian oligarch Roman Abramovich.