NEW DELHI: Music streaming service Gaana today said it will raise USD 115 million (about Rs 750 crore) from Chinese internet giant Tencent and Times Internet in its latest round of funding.
The funds will be used to further invest into technology to use artificial intelligence (AI) to personalise music experiences for each consumer, Gaana said in a statement.
Besides, the funds will also be utilised to further develop its subscription product for paying users, and to develop aligned music experiences for consumers.
"Tencent will be a great partner to help us enable India to access and enjoy unlimited music at their fingertips," Gaana CEO Prashan Agarwal said.
Gaana was launched in April 2010 by Times Internet and in December 2017, it crossed 60 million monthly active users.