Shazam Entertainment, the UK music software company, has raised $7.5m (€8.6m) from three venture capital funds, in a climate where investors are wary of putting money into mobile phone add-ons.

The three funds are IDG Ventures Europe, the venture capital fund of International Data Group FLV Fund, a global fund investing in software applications and Lynx New Media, the venture capital fund set up by Bear Stearns and Virgin Media.