Unit1, a music technology startup based in the United Kingdom, has successfully secured $20 million in investment capital. The funding round was led by investors including Balderton Capital, with partner Daniel Waterhouse—known for early investments in Spotify—playing a key role in the deal. The company aims to use this capital to develop technology capable of recreating classic musical performances by manifesting musicians as hyper-realistic digital avatars.

The startup was established last year by Barney Wragg, who previously served as the chief executive of Andrew Lloyd Webber’s entertainment group for five years starting in 2011. While the company has not yet released a full schedule of performances, the project represents a growing trend in the entertainment industry to leverage digital technology to revive or extend the reach of live concert experiences. The investment signals significant venture capital interest in the intersection of music, performance, and virtual reality technology. There is currently no information regarding the specific artists or estates that may be involved in the initial rollout of these digital concerts, nor has the company provided a timeline for when the public might expect to see the first performance.