BY DON SEIFFERT
Connecticut Innovations (CI) has committed $150,000 in financing to Internet radio provider Raditaz LLC of South Glastonbury, Conn., through its Pre-Seed Fund.
Raditaz will use the financing to advance its product development and marketing activities, and has secured required matching funds from an individual investor, according to a written statement.
The company’s streaming music platform will be accessible across a variety of devices including computers, smartphones, tablets, Internet-enabled televisions, automobile dashboards, and audio equipment. It will enable listeners to rate songs and share stations or songs via social media, and also includes a location layer allowing users see stations that are trending in geographic areas of the country. It’s headed by founder and CEO Tom Brophy.
“Raditaz is an innovator in the online music sector, building on current streaming music technologies and innovating to enhance the user experience,” said Charlie Moret, CI managing director, business development, in the statement. “We are excited to support a company like Raditaz, that is at the intersection of streaming music and social networking.”
Connecticut Innovations is the state’s quasi-public authority responsible for technology-based economic development. Recent beneficiaries of its Pre-Seed fund include Queralt Inc. of North Haven, which makes cloud-based technology for businesses’ real-time tracking of physical assets and people, and AdhereTx Corp., which has developed a secure web-based software platform to help manage and automate complex medication regimens in older adults.