SEA Digest: SoundCloud buys SG’s Musiio; Acronis to invest $50m in Vietnam

Photo by Fausto García on Unsplash

Artist-first platform SoundCloud has acquired Musiio, Singapore-based artificial intelligence music startup, while cybersecurity unicorn Acronis intends to invest $50 million over the next few years in Vietnam.

SoundCloud acquires SG’s Musiio

SoundCloud has acquired Singapore-based artificial intelligence music startup Musiio for an undisclosed amount, according to an announcement.

Musiio will amplify SoundCloud’s existing music intelligence capabilities. Musiio’s technology focuses on B2B audio reference search, automated tagging, and playlisting tools for the music industry.

In 2019, Musiio secured $1 million in seed funding from Wavemaker Partners and others.

Post the deal, Musiio will become core to SoundCloud’s discovery experience and help to identify talent and trends ahead of anybody else.

Based in Singapore and founded by British CEO Hazel Savage and Swedish CTO Aron Pettersson, Musiio was founded in June 2018. Savage and Pettersson will remain an integral part of operations, coming on board as VP (music intelligence) and VP (AI and machine learning), respectively. SoundCloud will fully integrate Musiio’s employees who will retain their positions.

Cybersecurity unicorn Acronis to invest $50m in Vietnam

Acronis, one of the world’s leading cybersecurity companies, intends to invest $50 million over the next few years to set up an R&D centre in Vietnam, per local media reports.

Acronis last month signed an agreement with FPT University, the education arm of Vietnam’s tech giant FPT Corporation, to source and train IT industry talent.

The Vietnam office will work in collaboration with the company’s R&D centres in Bulgaria and Singapore.

Acronis is a data protection and storage company that achieved unicorn status in 2019 with a $147 million funding round led by Goldman Sachs.

Last year, Acronis raised $250 million led by CVC in a round that valued Acronis at over $2.5 billion.

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