Icelandic Music Creation App Overtune Raises $2M in Seed Funding

Overtune seed funding round
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Overtune seed funding round
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Photo Credit: Overtune

Iceland-based music creation app Overtune has completed its $2 million seed funding round.

Overtune saw investment from Gabe Jagger’s Whynow media. “I am thrilled to have Gabriel and the Whynow team on board at Overtune. In a few short weeks they have impressed me with their agility and startup mindset,” says Sigurdur Arnason, Co-Founder and CEO at Overtune.

What is Overtune?

It’s a mobile app that aims to make music creation as easy as possible. Anyone with even the most basic understanding of music can arrange beats, record vocals, and share the content on their favorite social media channels. Overtune provides content that is accessible to people that don’t know how to create or produce music. Content is created by arranging music in a loop-based system and then layering voice and video on top.

“Traditional music apps and composition programs have been accessible only to individuals with extensive technical and musical expertise, locking many out of the content creation economy,” adds Petur Eggerz Petursson, Co-Founder.

Social media platforms like TikTok and Instagram don’t offer the option to create your own music. Instead, content creators must rely on a selection of pre-cleared music, which outsources the creative process. Overtune provides users with the tools to make their own musical content.

“Virality on social media is powerful, yet unpredictable. With the increase of TikTok and Instagram Reels content the modern media format has changed,” says Jason Dadi Gudjonsson, Co-Founder. “Overtune is made to fit the needs of the creative social media users who want to be able to create content on the fly – giving users a tool that allows them to project their own identity through sound rather than relying on pre-existing songs when making content.”

Overtune’s shareholders include Charles Huang (founder of Guitar Hero) and Nick Gatfield (former CEO & Chairman of Sony Music UK). Overtune was founded in 2020 by Sigurdur Arnason, Jason Dadi Gudjonsson, and Petur Eggerz Petursson and has grown significantly in the last two years. Overtune acknowledges that when it comes to music, the creative process can often be elitist and exclusionary.