According to published reports, PingTune, has raised a $1.6M seed investment from Rupert Hambro (former Chairman of Hambros Bank, currently Chairman of JO Hambro) and Dominic Perks (serial entrepreneur and active investor).

PingTune is The Music Messaging App. You can easily send music from YouTube or SoundCloud to your friends' mobile phones. PingTune is (and always will be) free.