Babinet secures $6.5 million for MXP4

News

Tim Green Mar 8 2007, 9:45pm

Gilles Babinet – serial entrepreneur, Musiwave founder and pillar of the MEF – has secured $6.5 million in VC funding for his new music technology company MXP4.

The first-round funds have been stumped up by Sofinnova Partners and Ventech and enable Mxp4 Interactive Music to further develop what it terms ‘a new digital audio standard that allows artists, professionals and listeners to add an interactive, non-linear dimension to their music.’

No, it doesn’t make much sense to us either. However, Babinet and his co-founders Philippe Ulrich and Sylvain Huet insist that they have already secured enthusiastic support for their technology from the music industry, and that the VC funds will support expansion into the French and international markets this year.

Babinet certainly has the track record. He built Musiwave into a giant of the mobile music sector, leaving when the company was sold to Openwave late in 2005 for 100 million euros. More recently he helped to create the mobile imaging company Eyeka.