Kobalt Music Group Funded For Royalty Collection Services

Kobalt, a London-based developer of online royalties collection and management services, scored an £8 million investment from Balderton Capital and gave the firm a minority stake, according to Billboard. Kobalt claims its system lets publishers track due royalties more effectively and get paid more money more quickly. Founded in 2000 by Willard Ahdritz with investment from New Media Spark, Kobalt also handles artist management for acts like Moby, Badly Drawn Boy and Editors. Balderton’s funds will aide international expansions and “help fund sizable pipeline advances and the roll out of new services for music rights holders”, Ahdritz said.