Germany-based Spodradio, mobile music jukebox and interactive mobile radio service, has received $2.4 million in first round from BayTech Venture Capital, the Munich-based early-stage VC firm.
The investment will allow Spodradio to support the market entry of its mobile visual radio platform across Germany. 25 radio stations including BigFM, Rs2, Radio 7, RMN Radio, Club977 and Digitally Imported have already gone live with the product. Spodradio expects to have some 50 radio stations and music labels Live in Germany by the end of the year and 100 by March 2006.
Spodradio also plans to expand to the U.S. and U.K. markets in 2006.
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