Hoopr has already closed the first round of its pre-Series A funding round by raising ₹4 crore. Inflection Point Ventures (IPV) was leading with this important funding round, and several family offices and existing investors were present. This tranche capitalization will put the post-money valuation of the company at a notable ₹160 crore, solidifying its expanding role in the creator economy ecosystem. This new round of financing brings the total amount of capital that Hoopr has raised to ₹18 crore since it was founded.

Vision and capital infusion

Hoopr was co-founded by Gaurav Dagaonkar and Meghna Mittal in 2021 with a clear vision to open a transparent and accessible music licensing market. The main product of the platform is copyright-free music in a large library of more than 12,000 music tracks and sound effects (SFX). It is a huge catalogue created to be used by content makers and brands in a broad spectrum of media, such as videos, vlogs, podcasts, films, advertising campaigns, and apps, to make sure that within it, users are guaranteed compliance and the freedom of creativity.

The new funds will be used in several strategic projects aimed at enhancing the growth trend of Hoopr, both locally and globally. A major part of the capital will be channeled to the rapid growth of Hoopr Smash, which is the proprietary, automated self-serve music licensing marketplace owned by the company. 

This targeted expansion will be accompanied by an initiative to deepen, significantly, the music catalogue of Hoopr, especially in terms of the introduction of Bollywood, regional, and global music. Such growth of products will open up novel and profitable monetization opportunities to a broad scope of stakeholders, including artists, composers, and even established music labels.

In addition to the expansion of the catalogue, the investment will also be used to enhance the overall product innovation and size the talent pool of the company. Hoopr will be powering its globalisation efforts by aligning its current catalogue with the demands of the international markets. At the same time, the platform will vigorously onboard international music content, which is to be licensed in India. This two-pronged approach means Hoopr is developing an international grade music licensing ecosystem.

The Co-founder & CEO of Hoopr, Gaurav Dagaonkar, said, “At Hoopr, our vision is to shape the future of India’s creator economy by empowering musicians, enabling brands, and driving the next wave of the digital music revolution. With 4.4x growth since inception and 300% revenue growth this year, we’re now expanding globally and unlocking new monetization models for creators and brands. Over the next five years, we aim to build the world’s most trusted and intelligent music licensing platform — one that connects creativity and commerce seamlessly while strengthening India’s position on the global music map.”

The Co-Founder of IPV, Mitest Shah, said, “India’s creator economy is exploding, and Hoopr’s stepped in right where people need them — making copyright-safe music easy to get for anyone making digital content. With so many videos coming up everywhere everyday, their licensing solution just lands at the perfect moment. At IPV, we’re excited to back Hoopr. Their goal to create India’s biggest music licensing ecosystem and take it worldwide feels just right for where the industry’s headed.”

Quotation Source: MarcaMoney  

Core offering and transparent revenue model

The Hoopr Smash is the operational backbone of the site, and it offers the customers a very efficient and smart process of licensing. It has smart discovery features, hand-picked playlists, and quick licensing solutions, and it is easy to locate the ideal and licensed track for any creative endeavor.

The revenue structure of Hoopr is clear, and artists receive half of the amount of the licensing fees generated, once the initial start-up expenses are covered. Hoopr allows creators and major brands to deliver a high quality of content, and at the same time makes sure that a fair and worthy amount of money goes to the artists who supply the music.

The scale of the company will be evidence of how it has successfully entered the growing creator economy. Hoopr serves a massive user base of more than 250,000 creators, 100+ brands, and filmmakers. The platform has managed to onboard over 30,000 individual creators, including such high-profile creators as Chef Ranveer Brar, Ashish Vidyarthi, Tanya Khanijow, Mr. Indian Hacker, Flying Beast, and Rajesh Rawani. At the B2B level, Hoopr has already partnered with more than 180 corporate customers, including such big brands as Myntra, Marico, Sony LIV, Mumbai Indians, Meesho, Himalaya, and Cadbury.

The company has achieved strategic alliances with other industry giants like Yash Raj Films Music, Universal Music, Saga Music, Merchant Records, and Adobe. Hoopr also displays a token of transparency through its strong relationship with the Indian Performing Rights Society (IPRS), with the aim of establishing new industry standards of accountability in the music licensing industry. Hoopr has already partnered with over 300 independent artists in the past three years, working with 21 different regional labels, and has managed to pay out over ₹4.5 crore in royalties in this time period.

The Co-founder & CRO of Hoopr, Meghna Mittal, said, “Our technology forms the backbone that makes Hoopr scalable, transparent, and future-ready. This investment will fuel our AI-led innovation — enhancing efficiency, accountability, and brand protection while empowering creators like never before. As the creator-brand economy evolves, technology will define the future of music licensing — where every use is traceable, every creator is fairly rewarded, and every brand is protected. By strengthening our tech infrastructure, we’re building Hoopr to lead this transformation in India and beyond.”

Quotation Source: MarcaMoney  

Conclusion

The ₹4 crore of the initial tranche of pre-Series A financing has been successfully raised, and this is a significant step towards Hoopr. With the support of Inflection Point Ventures and other investors, the company currently has a strong standing to implement the ambitious growth plan. The capital will play a crucial role in the expansion of Hoopr Smash’s proprietary platform, the growth of its variety of music catalogue, and the technological innovations led by AI.