Patari, a music streaming service has secured US$ 200,000 in seed stage funding from Sarmayacar, an investor syndicate.
“Our success at Patari has been based on innovating quality products and investing in music,” says Khalid Bajwa, the CEO of Patari. “And our partnership with Sarmaycar will allow us to scale up and truly unleash the massive potential inherent in Pakistani music.”
Sarmayacar, the investor syndicate investing in Patari, primarily focuses on angel and seed stage investments, and Patari is its first partner. “Our focus isn’t only on startups as a business prospect, but on ventures that harness inclusive growth of the Pakistani economy as well,” says Rabeel Waraich, founder of Sarmayacar. “We chose Patari because it is a startup driven by a dynamic team that will help revitalise the waning music industry of Pakistan”
Earlier this year, Patari became the first digital partners from Pakistan in tech giant Facebook’s F8 program, allowing greater compatibility for Patari products within the Facebook platform. Patari has also secured several high-profile musical releases, including the exclusive digital rights to releases by artists like Noori, Mooroo, Uzair Jaswal and the soundtracks for films like Ho Mann Jahan and Bin Roye. It also released an EP called ‘Patari Aslis’, which comprises of original tracks by indie artists funded by Patari.
Ahmer Naqvi, the director of content at Patari explains that before Patari, the two truisms of the local music industry were that no one adheres to copyrights, and no one pays royalties. “We were able to show that both can be done,” says Naqvi.
Inclubated at Plan9, Patari launched its beta service in April 2015 via a guerrilla marketing campaign that quickly went viral. In September last year, the platform went live, rolling out mobile applications for iOS and Android in addition to its website.
Patari’s technology has been well received in the industry, and the service won the mBillionth award in India, the US Embassy in Pakistan’s Startup Cup and placed second in the World Startup Cup. The service was also lauded for its stringent compliance to copyright laws, and won over the artist community after announcing Rs. 1.25 million in royalty payouts.