British streaming-video startup Chew, which describes itself as ‘Twitch for DJs’, has raised a first investment round of £123k shortly after graduating from the Ignite startup accelerator.
The round comes from angel investors including Friends Reunited founder Stephen Pankhurst, prolific tech investor Doug Scott, Playfair Capital’s Founder Fede Pirzio-Biroli (who invested personally), well-known angel Richard Fearn and Ignite CEO Paul Smith, and values the company at £950k.
Chew says it will use the funding to continue building its service, with the help of advisors including Music Hack Day veteran and ex-UMG man Martyn Davies, and former Rushmore FM chief executive Alex Hunter.
Chew co-founder Wil Benton told Music Ally:
“To continue to build and develop the Chew community, our focus is to partner with top DJs, artists, labels and brands on some truly unique one off broadcasts – as well as series of events.
“Our aim is to take the DJ, crowd and live streaming out of their stereotypical locations – from the dark basement clubs with sweaty crowds, to interesting spaces and venues that capture the power of the Chew platform.”
By the end of April, Chew had more than 6,000 registered DJs, with visitors watching nearly 1,700 hours of live and archived sets a week.
It’s one of those milestones that turns out to be the beginning of a lot more miles to go down the startup road, but I’m super excited to announce Chew is funded. Taking the early idea – to Ignite – and now on to build and grow and learn from our large, growing audience of DJs definitely gets me heart beating fast – even if it’s only because of my recent lack of sleep!