Barcelona’s Oval Sound, a pioneering music technology start-up, is setting its sights on significant expansion. In a strategic move, the company is launching a crowdfunding campaign to raise £500,000, aiming to revolutionise music creation, therapy, and education globally.
Innovative Musical Instrument: The Oval
Oval Sound has developed a groundbreaking electronic instrument, the Oval, which is the first of its kind to hit the market. Blending the physical and digital realms, the Oval is inspired by percussion instruments such as the ghatam and steel drums. It is designed to transform how music is learned and performed, truly a revolutionary tool.
Co-founder Alex Posada highlights that the instrument has already seen substantial interest, with 1,000 units pre-sold and 70% of these orders fulfilled. ‘There is a huge opportunity in the music market,’ Posada remarks, indicating strong market traction and readiness for large-scale production.
Origins Rooted in Collaboration and Innovation
Oval Sound emerged from the collaboration between touring handpan performer Ravid Goldschmidt and creative technologist Alex Posada. Faced with the need for a portable alternative to traditional handpans, the duo developed a versatile, expressive instrument tailored for both professional musicians and educational purposes.
In 2014, their vision materialised into the Oval, a tool that bridges traditional handpan music with cutting-edge technology. This hybrid instrument not only provides a portable option but also enriches music learning and therapy applications.
Strategic Funding Initiatives
Oval Sound’s crowdfunding campaign on Crowdcube seeks to secure vital funding for the next phase of its journey. With a target of £500,000, the company plans to expand its market presence, ramp up production, and invest heavily in software and marketing.
The company is also exploring additional funding avenues, including loans from Spanish entities such as ENISA and ICF, totalling €300,000. This hybrid approach, combining debt and equity, aims to raise €1m in total. Further financial support may come from bank loans if required.
Retail Partnerships and Market Penetration
Oval Sound is actively building its retail network, with discussions already underway with major outlets like Saturn, Amazon, and Guitar Center. Letters of intent have been received from notable retailers like Gears4Music and Microfusa, signalling strong potential market entry points.
These partnerships are poised to enhance Oval Sound’s visibility, facilitating easier access for consumers and bolstering its footprint in the music technology market. With strategic alliances, the company aims to leverage these channels to drive substantial growth and reach worldwide markets.
Potential Impact on Music Education and Therapy
The Oval is set to make waves in music education and therapy sectors, offering a new, engaging way to interact with music. Its design caters to different skill levels, making it adaptable for both novices and professionals.
By bridging traditional and modern music approaches, the Oval serves as a powerful tool in music therapy, aiding in cognitive and emotional development through musical interaction. Its versatility promises to influence a wide array of educational methodologies and therapeutic practices.
Oval Sound’s Vision for the Future
Oval Sound is dedicated to innovation and aims to sustain its momentum by continuously enhancing its product offerings. The focus is on expanding the Oval’s capabilities through ongoing software development and user engagement initiatives.
As the company looks forward, it remains committed to leading the charge in music technology, ensuring its products not only meet but exceed user expectations globally. This forward-thinking approach underpins its ambition to be at the forefront of the music tech landscape.
Conclusion
Oval Sound’s ambitious plans for global expansion and innovation in music technology underline its potential to reshape the industry. With strategic partnerships and a comprehensive funding strategy, the company is well-positioned to realise its visionary goals.
Oval Sound’s ambitious plans for global expansion and innovation in music technology underline its potential to reshape the industry. With strategic partnerships and a comprehensive funding strategy, the company is well-positioned to realise its visionary goals.