Audoo is the startup that has developed an 'audio meter' that can be installed in retailers, businesses and public locations to track music that's being played. It then feeds that back to the relevant collecting societies to help them get accurate data when calculating payouts. Simple, but genius, no? Audoo is building the ultimate supergroup with its investors: ABBA's Björn Ulvaeus took a stake in the company in 2020 when it raised a £5.2m funding round. The new $5m funding round led by Sir Elton John and David Furnish takes its total raised so far to $22m. “Right now, artists are not being paid accurately for their plays because the data simply doesn’t exist. People have given up on their dreams and we've lost talent and future stars because of this disparity” said Sir Elton. “That’s why we’ve invested in Audoo and their world-class technology and data, to help create a more transparent system for everyone, and ultimately to keep the music alive.”