Reykjavik, Iceland, where music education startup Moombix is headquartered. Photo Credit: Einar H. Reynis
Music lessons marketplace Moombix has announced the close of its £1.9 million (currently $2.48 million) seed round and unveiled plans to expand into the United Kingdom.
Reykjavik-headquartered Moombix, which bills itself specifically as “an all-in-one solution for online music education,” disclosed the funding and the imminent expansion today.
Established by former longtime Microsoft exec Aleksandar Arsovski and musician Margret Juliana Sigurdardottir (who founded children-focused music education app Mussila as well), Moombix enables verified musicians to set their own prices for 30-minute one-on-one livestream lessons, per the appropriate website.
Also according to Moombix’s site, teachers describe their qualifications (and define their primary “field of interest”) via seemingly in-depth profiles, which prospective students can filter when searching for a professional.
Prices range from £30 to £300 ($39 to $392) per half-hour session, discounts are available for multiple lessons purchased at once, Moombix takes a 20% commission, and the business has options in place for schools to promote themselves, the site indicates.
Shifting from insightful supplementary details and back to the seed raise, Iceland’s Frumtak Ventures led the round, which also drew participation from several angel investors, Moombix relayed.
And as mentioned, the capital is expected to set the stage for the startup’s strategic launch in the U.K., where higher-ups say approximately 200 teachers have already signed up to offer lessons. Against the backdrop of continued buildouts in the music education space – referring mainly to virtual resources – it’ll be worth monitoring the company’s expansion results moving forward.
Regarding these buildouts, however, Moombix is hardly without competition. Closer to the top of 2024, Spotify began testing the video learning waters in the U.K. Though the involved Spotify Courses still aren’t live in the U.S. and extend to areas well beyond the music world, they’re free to access through November 30th, the U.K. landing page shows.
Subsequently, Billie Eilish in June brought 30 tracks to Helsinki-headquartered music education platform Yousician, which, unlike Moombix, offers access to interactive learning software for a monthly subscription fee.
Then, August saw Sony Music Entertainment license Duolingo in connection with the language app’s comparatively new music courses. We’ll have to wait a bit longer for possible up-to-date data about the commercial results behind this music offering; Duolingo has teed up its Q3 earnings for November 6th.
