Freedrum's Journey at its End? Virtual Drum Kit Startup Goes Bankrupt for the Second Time
Briefly

from resund Startups4 months ago
Freedrum, the Malmö-based startup known for its innovative virtual drum kit, has declared bankruptcy for the second time since its founding in 2016.
resund Startupshttps://oresundstartups.com/freedrums-journey-at-its-end-virtual-drum-kit-startup-goes-bankrupt-for-the-second-time/
The company attracted over €2.4 million in funding and aimed to make drumming accessible with its Electronic Drumsticks and Freedrum Studio APP, but ultimately faced unsustainable losses.
resund Startupshttps://oresundstartups.com/freedrums-journey-at-its-end-virtual-drum-kit-startup-goes-bankrupt-for-the-second-time/
Despite a reported net revenue of SEK 6.1 million in 2023, Freedrum had a substantial loss of SEK 10.7 million, indicating ongoing financial challenges.
resund Startupshttps://oresundstartups.com/freedrums-journey-at-its-end-virtual-drum-kit-startup-goes-bankrupt-for-the-second-time/
The attempt to restructure the company in May was unsuccessful, leading to the closure of Freedrum, which had visions of revolutionizing drum practice.
resund Startupshttps://oresundstartups.com/freedrums-journey-at-its-end-virtual-drum-kit-startup-goes-bankrupt-for-the-second-time/
Read at resund Startups
#bankruptcy #startup #innovation #music-technology #financial-challenges
[
|
]