Fretello – On the way to the top
Once again, European Super Angels Club can proudly announce a new investment in their Portfolio.
Fretello, an Austrian startup has attracted considerable attention in the music industry with their guitar teaching app.
Their concept proved to be successful – Fretello could secure around EUR 3 million investment from the European Super Angels Club, the Finnish venture capital fund Sparkmind, Tractive co-founders Michael Tschernuth and Michael Lettner, and the OÖ HightechFonds.
Before that, Fretello has already convinced other top investors like Runtastic co-founder Alfred Luger, Pioneers Ventures II from startup300 as well as the business angels Christiane Holzinger, Chris Wildmoser, Hermann Futter and Klaus Dirnberger.
The fresh capital will be primarily used to expand the learning services and to form partnerships in the global music trade.
“When people buy their first guitar, mostly they don’t know if it is the right fit for them or how to play .” CEO Lettner said. “Our goal is to provide musicians with a tool tool and guide them throughout the learning process .” Fretello has already proven that the concept works – a pilot project with a music wholesaler has already been successfully rolled out.
President of the European Super Angels Club, Berthold Baurek Karlic adds:
“The strategic fit to individual members was so high that we could already see success in Due Diligence. Furthermore, with the direct sales support that is provided, we see a clear advantage for the team and we are very excited to have another high-growth company in our portfolio.”
Rockstars made in Austria
Fretello (www.fretello.com) is a virtual guitar teacher that can be used anytime and anywhere on your smartphone, tablet or computer. . If you have ever tried learning guitar, you certainly know how difficult it is to get started. Beginners are mostly overwhelmed, do not know how to learn the instrument properly and often get frustrated. This is exactly where Fretello jumps in: the triad of “learn – practice – play” is taught in an interactive curriculum, which was developed in cooperation with Austrian music schools and music teachers, especially for digital lessons. To keep the beginners motivated, Fretello counts on playful learning. Songs from Sony and Kobalt to play along with, perfectly complement the systematic concept. A custom algorithm then analyzes playing aspects such as pitch, tempo and technique, tempo and playing technique.
Like a real guitar teacher, the musicians then get feedback and tips to constantly improve themselves.
Since the company was founded, around 725,000 guitarists have registered on Fretello.
PROMOTION BY APPLE
By developing the world’s first augmented reality music learning experience, Apple also became aware of Fretello and is promoting the products regularly in the App Store ever since. In 2019, Fretello made it to the keynote stage as a showcase of WWDC, Apple’s legendary conference for the developer community.