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    The acquisitions of MXX and WiSL herald the ultimate creative AI ecosystem

    DAACI Celebrates the Acquisition of Two Technology Companies with Event at Abbey Road Studios

    The acquisitions of MXX and WiSL herald the ultimate creative AI ecosystem

    24th May 2023 – London, United Kingdom – Music composition system DAACI announced the acquisitions of music technology companies MXX and WiSL yesterday, with an industry event at the legendary Abbey Road Studios in London. The acquisitions are the latest step in DAACI’s journey to develop the ultimate creative AI ecosystem, unparalleled in its capabilities and committed to ethics in music, AI, and the creative industries at large. 

    From left to right, Ben Ried (MXX), Rachel Lyske (DAACI) , Julian Goodkind (WiSL)

    The acquisitions position DAACI at the forefront of creative and ethical AI technology – focused on driving a tangible and mutually beneficial partnership between the two. DAACI is also now an organisation with a combined 60 granted patents, a further 20 patents filed, 65 team members, and a current annual revenue of £4.88million.

    A select group of industry stakeholders attended Abbey Road Studios for the event in Studio Three, the room where legends including The Beatles, Pink Floyd, Fela Kuti, Amy Winehouse and Stormzy have recorded. The day included demonstrations and an audience with founder and inventor Dr. Joe Lyske, whose life’s work has gone into the patents and method behind this evolution. The event also punctuated the successful completion of DAACI’s incubation with Abbey Road Red, the studios’ music tech incubation programme.

    DAACI’s mission is to empower composers, music makers and creatives to unlock their creativity. A key part of this is DAACI’s effort to uphold ethics at the core of its expanding creative AI ecosystem by ensuring that the tools it builds respect copyright, trademark, rights of publicity (where they exist) and Name/Image/Likeness/Voice, put artists at the centre of the creative process, and provide transparency around the data inputs used during the creative process. 

    With the acquisition of these two music technology firms – MXX and WiSL – DAACI takes another leap forward in powering the content of tomorrow with dynamic music AI that creates an infinite musical palette, and empowers artists and composers to fulfil any brief and tailor each composition to fit specific experiences or occasions in gaming, digital worlds, XR, or VR experiences.

    Abbey Road Red has an artist and rights-first philosophy which traverses its incubation guidance. The team advises participants exploring cutting-edge content usage that it is critically important to respect copyright and intellectual property rights and obtain all necessary authorisations and licenses from rightsholders.

    Rachel Lyske, CEO of DAACI, said, “This is a milestone moment for DAACI. I’m delighted to welcome MXX and WiSL to the team. We’re forging ahead in collaboration, creating an ecosystem that integrates three decades of experience and research and bridges the gap between static and responsive music creation.

    “The ultimate goal is to channel our incredibly powerful ecosystem of technology to create new paths for talented individuals to express themselves. Whether you’re an experienced professional, a budding creative or anything in between, you can benefit from the processes and creative options generated by our system. I’d like to thank Abbey Road Red, the DAACI, MXX and WiSL teams and everyone involved for their incredible hard work and commitment. I’m excited for the possibilities these acquisitions bring.”

    Julian Goodkind, CEO of WiSL said, “We are delighted to be joining DAACI and their team on this exciting journey. They are at the forefront of this evolution and, together, have formed a unique and robust ecosystem which truly amplifies growth for both music makers and content creators. 

    “It’s vitally important to us that AI technology is adopted and utilised in an ethical way, to ensure that songwriters, artists, rights holders and industry professionals continue to be the driving force at the heart of our industry. 

    “WiSL remains committed to its objective of creating a marketplace for access and discovery for all music, driven by a suite of AI tools which is supported by the music and content creation industry, so that together we can create a new industry standard.” 

    Simon White, CEO of the TMC2 Venture Studio, who have invested in all three businesses added, “We have an exceptional track record in ground-breaking adaptive AI technologies for music and media and are thrilled to be continuing our journey as part of the world’s ultimate creative AI ecosystem.”

    To find out more: www.daaci.com 

    ENDS

    # # #

    DAACI team at Abbey Road Studios with the Abbey Road RED Team

    About DAACI

    DAACI is the next step in the evolution of music creation – a comprehensive AI system that composes, arranges, orchestrates and produces authentic, high-quality and original music with emotional and narrative awareness. It is set to empower today’s generation of composers for the next generation of content, forming a central part of game production, digital worlds and dynamic virtual experiences.

    Based on more than 30 years of patented research and supported by partnerships with the UKRI Centre for Doctoral Training in Artificial Intelligence and Music at Queen Mary University of London and the innovative Abbey Road Red incubator, DAACI’s pioneering technology ecosystem and meta-composition engine enhances the power of the composer to deliver personalised and emotional music to any brief, anywhere.

    More information: https://daaci.com/

    About WiSL

    The WiSL platform enables the media industry to source, edit, audition and license music for all types of content using one AI driven platform, reducing what took days and weeks, to hours, minutes, or seconds. Currently, finding the right music, editing it and cutting it to picture is a disconnected, resource-heavy and time-consuming business that requires expertise, all contributing to considerable reflective cost, before you even get to the licensing stage.

    WiSL is a single platform and global marketplace for all music, built on a suite of proven AI tools that make it simple and intuitive to find, edit, audition and license music. By unifying this ecosystem, WiSL is an intelligent marketplace the music and creative industries need to meet the explosive growth in content, today and tomorrow.

    More information: https://www.wisl.ai/ 

    About MXX

    MXX invented and patented a suite of artificially intelligent technologies which change the engagement relationship between fan, artist and their music. The powerful AI music editor can re-purpose a track to fit the length of any given set of images and videos, which are cut to beats, drum fills, and section boundaries. The MXX intelligent music editing can be integrated into any UGC video creation app adding new levels of music flexibility and fan engagement.

    More information: https://www.mxx.ai/ 

    About Abbey Road Red

    Having recently celebrated its 90th anniversary, Abbey Road Studios, the birthplace of stereo and countless innovations in recording technology, created Abbey Road Red in 2016. Inspired by the original in-house Record Engineering Development Department of the 1950s to 1980s, Abbey Road Red is our open innovation department designed to support the endeavors of the brightest music tech entrepreneurs, researchers and developers.  

      

    We run a unique music tech start-up incubation programme – the first of its kind in Europe – to support the most promising music tech start-ups, as well as collaborating with the brightest minds in academic research. In 2018, the programme expanded with in-house R&D activities within the music creation space. The white lab coats are long gone at Abbey Road, but the spirit of adventure is still as present as ever. 

      

    During its incubation process, Abbey Road Red provides each start-up with a completely tailored incubation, shaped to leverage its expertise, assets and network to help solve problems or reach strategic goals – whether that’s helping with a rush to market, exploring platform developments, design and deployment, business case tweaking, deep tech advice, business development or interfacing with the music industry. Previous start-ups to graduate from Red can be found here.

      

    Abbey Road Red is in its seventh year of operation and in this time has incubated 19 businesses, which between them have raised over $90m and have a collective post-money valuation of more than $350m. It has recently experienced its first exit when AImusic, a start-up from its second cohort, was acquired by Apple in early 2022.

    More information: https://www.abbeyroad.com/abbeyroadred

    Press Contacts:

    Gemma Stenberg

    OLEX Communications

    gemma@olexcommunications.co.uk

    +44 7854 813 153 

    Veronica Perazzolo

    OLEX Communications

    veronica@olexcommunications.co.uk

    Loyal

    LOYAL AI selected for Innovate UK EDGE ScaleUp Programme

    The Innovate UK EDGE Scaleup Programme supports a select group of companies on a journey to exponential growth. LOYAL AI is proud to have been accepted, following a rigorous three-stage screening process. The initiative will help LOYAL AI scale up its world-leading digital services and technology innovations. The programme is designed to support highly innovative,…
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    TMC²

    Tintra PLC – Granting of Middle East Licence

    Released : 14 Sep 2022 10:30

    14 September 2022

    THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

    14 September 2022

    TINTRA PLC

     (“Tintra“, the “Group” or the “Company“)

    Granting of Middle East Licence

    The board of directors (the “Board“) of Tintra, the rapidly innovating Deep Tech & Banking business, is delighted to announce that it has gained the first of a number of required approvals in Qatar as it tracks toward its banking licence.

    The Company was today awarded a Fintech Services Licence (the “Licence“) to operate in the Qatar Financial Centre (“QFC“).  The QFC is an onshore business and financial centre that allows companies to operate in Qatar and the wider Middle East region within a legal and tax environment aligned to international standards.

    The Licence, awarded to Tintra Middle East LLC, a wholly owned subsidiary of the Company, allows the Company to immediately commence the mobilization of an office in Doha and the hiring process of an initial 12-15 regulated and unregulated positions as the Company builds out a full team in the territory.

    The Licence is a foundational hub element of the “hub and spoke” strategy outlined in the Company’s recently published Annual Report (https://tintra.com/investor-relations/annual-accounts/), in which the Company is to establish regulated banking operations in key regions from which to build the World’s first emerging market focused clearing bank built upon Web3 principles.

    This licence allows the Company to put in place the right team, made up of both local and international staff, and at the same time commence the regionally specific movement of Intellectual Property and technology. Once this is completed to the regulators satisfaction upgrades to the Licence will be made towards the full banking operation.

    It is anticipated that the first of these amendments will be issued in around 6 months once this initial mobilization has been completed, in line with the Regulated Business Plan, that has been submitted.

    Richard Shearer, the Company’s Chief Executive, said “We continue to move at a pace that I think few others can.

    This award, coupled with the announcement earlier today of our partnership with Temenos to build out our banking core cements our intentions but more importantly, in my view, our ability to perform against the high benchmarks we set ourselves and the, what may appear at times, bold claims we are making.

    By setting ourselves these goals in public, and then going on to achieve them, I hope the market can start to see that not only when we say something we mean it, but that our execution abilities match our vision.

    We really are building a culturally aware artificial intelligence that will radically shift emerging market world banking on its axis by deploying Artificial Intelligence to make Real Change™ and for the first time building compliance whose baseline is to establish financial innocence rather than simply pursue financial guilt. By doing this we will begin, or at least be a small piece of,  the long road to establishing true fiscal inclusion across the world.

    I would like to take this opportunity to thank the QFC for taking the time and effort to understand the model outlined in our Regulated Bank Business Plan.

    I would further like to thank Sharq Law Firm for the guidance and support we have received, which has been invaluable.“

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom

    . Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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    END

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