MUMBAI: Music Mastermind, an independent entertainment and technology company, today announced that it has closed $10.8 million in Series B funding. Intel Capital and Liberty Global led the round with a combined contribution of $6.8 million, while angel investors participated with an additional $4 million. Music Mastermind will launch its innovative create-and-share music platform later this year, and will apply this backing to its continued growth and product rollout.

Music Mastermind was founded in 2007 by Matt Serletic, former Virgin Records Chairman/CEO and the GRAMMY Award-winning hit maker behind Matchbox Twenty, Rob Thomas, Gloriana, Carlos Santana, and Aerosmith; and Bo Bazylevsky, a top Wall Street bond trader, senior hedge fund portfolio manager, and the former Global Head of Emerging Markets Corporate Trading at J.P. Morgan. Led by Chief Technology Officer Reza Rassool, whose work has garnered both a Technical Oscar and Emmy, Music Mastermind's engineering and design teams represent a diverse and experienced group of individuals from across the entertainment and technology industries.

Intel Capital is committed to working with exceptional entrepreneurs to build world-class companies,... said Dave Flanagan, Managing Director, Intel Capital. The Music Mastermind team is an amazing group of innovators, and we believe that their products will help transform the way we think about music creation and interactive entertainment across PC, mobile and set-top platforms....

Music Mastermind is the developer of SoundBetter, the audio processing suite at the core of its upcoming consumer-focused platform. This groundbreaking technology eliminates the traditional effort required to make music, breaking down barriers to creativity and allowing anyone to instantly create, publish, and distribute their own music.

At Liberty Global, we understand that digital technology is uniting people around the world and that music is a common thread among us,... said Bruce Dines, VP of Liberty Global Ventures. We believe Music Mastermind's cutting-edge technologies will connect the international community in a completely new way....

Music Mastermind has spent the last three years developing its patented technology, which is the foundation of our soon-to-be-launched global music creation platform,... said Bo Bazylevsky, President and COO of Music Mastermind. Our products fuse together the best elements of music production tools, interactive entertainment, and social engagement, empowering everyone to experience the joy that comes from making and sharing great music....

The company raised its first round of funding in February 2010 with nearly $5 million from angel investors