Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Lüm, a US-based social music streaming platform, has obtained an undisclosed amount of seed capital from Wisconsin Alumni Research Foundation (Warf), the tech transfer affiliate of University of Wisconsin-Madison, and undisclosed additional investors. Founded in 2018, Lüm has built a music streaming service replete with social networking features that allow emerging performers to circulate their songs to larger audiences and generate revenue through virtual donations. The funding will go to developing its platform. Lüm previously closed an initial $1.4m seed round in January 2020 with undisclosed investors, and has a strategic partnership with music concert promotion company Frank Production.
