Stockholm, Sweden – X5 Music, a digital-only record label
based in Sweden, has received a $9.1 million investment from Northzone
Ventures, TechCrunch reported.
X5’s catalog includes some 120,000 products across various
genres, including many older albums from popular U.S. artists like Ray Charles,
John Coltrane and Elvis Presley, and hundreds of compilation albums.
will use the funds to expand into the U.S. market and sign American artists,
via a new office in New York.
Northzone has also invested in European streaming
music service Spotify.