Cisco has invested in

Qyuki will enable cocreation of creative content enabling users to cocreate music and add lyrics/music etc. independently.

“Qyuki will not be as inert as Facebook or as passive as You-Tube. We want to shepherd people’s creativity to create new films and score music collaboratively,” [Shekhar Kapur]

Another Indian startup, Muziboo also offers a similar service, though one would expect Qyuki to bring the marketplace approach to creative business and bring music producers to the table.

[Thanks Dhruv Goyal for the tip.]