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Former intelligence officer faces trial in Austria’s largest espionage case in decades

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Bethany BellVienna correspondent

Reuters A man with a black jacket and tie and dark hair and glasses stares at a cameraReuters

Egisto Ott is accused of collecting large amounts of data and handing information to Russian intelligence

Former intelligence official Egisto Ott goes on trial in Vienna on Thursday, accused of spying for Russia in what is being dubbed Austria’s biggest spy trial in years.

Egisto Ott, 63, is charged with having handed over information to Russian intelligence officers and to Jan Marsalek, the fugitive executive of collapsed German payments firm Wirecard.

Ott denies the charges.

Jan Marsalek, who is also an Austrian citizen, is wanted by German police for alleged fraud and is currently believed to be in Moscow, having fled via Austria in 2020.

The subject of an Interpol Red Notice, he is alleged to be an intelligence asset for the FSB, Russia’s secretive security service.

The spy scandal has revived fears that Austria remains a hotbed of Russian espionage activity and observers will also be watching closely for details that could emerge about Marsalek.

Prosecutors in Vienna say Egisto Ott “abused his authority” as an Austrian intelligence official by collecting large amounts of personal data, such as locations, vehicle registration numbers, or travel movements.

They say he did this between 2015 and 2020 without authorisation, often using national and international police databases.

Prosecutors also charge him with supporting “a secret intelligence service of the Russian Federation to the detriment of the Republic of Austria” by collecting secret facts and a large amount of personal data from police databases between 2017 and 2021.

They say Egisto Ott gave this information to Jan Marsalek and unknown representatives of the Russian intelligence service, and received payment in return.

In 2022, prosecutors say, Jan Marsalek commissioned him to obtain a laptop containing secret electronic security hardware used by EU states for secure electronic communication. The laptop, they say, was handed over to the Russian intelligence service.

He is also suspected, reports say, of having passed phone data from senior Austrian interior ministry officials to Russia.

Austria’s Standard newspaper says Egisto Ott apparently obtained the work phones after they accidentally fell into the River Danube on an interior ministry boating trip.

He is alleged to have copied their contents and passed them on to Jan Marsalek, and Moscow.

Egisto Ott is charged with abuse of authority and corruption and espionage against Austria and faces up to five years in prison, if he is found guilty.

When he was arrested in 2024, Austria’s then Chancellor, Karl Nehammer, described the case as “a threat to democracy and our country’s national security”.

Munich Police Munich police wanted poster for Jan MarsalekMunich Police

Jan Marsalek, former executive at Wirecard, is believed to have escaped to Moscow

In a separate development, prosecutors in the Austrian town of Wiener Neustadt have told the BBC that a former MP, Thomas Schellenbacher, has been charged with helping Marsalek to escape following the collapse of the Wirecard company in 2020, when it emerged that €1.9bn was missing from its accounts.

Schellenbacher is alleged to have helped Jan Marsalek fly to Belarus, from Bad Vöslau in Austria, in June 2020.

Schellenbacher was an MP for the far-right Freedom Party (FPÖ), which has been accused by Austria’s Green Party, now in opposition, of enabling Russian espionage, of acting as “an extension of Russia’s arm” in Austria.

The FPÖ and its leader Herbert Kickl have denied the allegations – and have not faced any legal action in connection with any of them.

Marsalek, who was the Wirecard’s Chief Operating Officer, has since been charged with fraud and embezzlement, suspected of having inflated company’s balance sheet total and sales volume.

He is also believed to have been the controller of a group of Bulgarians who were convicted in London in 2025, of spying for Russia.

Messages from that trial reveal Marsalek has had plastic surgery to alter his appearance as well as details of his life as a fugitive.

“I’m off to bed. Had another cosmetic surgery, trying to look differently, and I am dead tired and my head hurts,” he wrote to one of the Bulgarians, Roussev, on Telegram in February 2022.

In another, dated 11 May 2021, Roussev congratulated Marsalek for learning Russian.

“Well I am trying to improve my skills on a few fronts. Languages is one of them,” the Austrian responded.

“In my new role as an international fugitive I must outperform James Bond.”

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Trump Introduces New ICE Immigration Crackdown in Maine: Catch of the Day | Latest Donald Trump News

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The administration of United States President Donald Trump has announced its latest immigration enforcement operation, this time in the northeastern state of Maine.

On Wednesday, the Department of Homeland Security confirmed that immigration raids had begun a day earlier, under the name “Operation Catch of the Day”.

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In a statement, a Trump administration spokesperson appeared to signal that targeting Maine was a political response to the ongoing feud between the president and the state’s governor, Democrat Janet Mills.

“Governor Mills and her fellow sanctuary politicians in Maine have made it abundantly clear that they would rather stand with criminal illegal aliens than protect law-abiding American citizens,” said spokesperson Tricia McLaughlin.

But rumours have swirled that Maine was singled out for its significant Somali American population in the cities of Portland and Lewiston. Estimates put the total number of Somali Americans in the state at about 3,000.

Trump has repeatedly denounced the Somali community over the past several months, comparing its members to “garbage” at a December cabinet meeting. As recently as Tuesday, he used his White House podium to call Somalis and Somali Americans “ a lot of very low IQ people”.

Racist and anti-immigrant rhetoric has been a trademark of Trump’s campaigns for public office, and he has repeatedly singled out specific groups – including Haitians and Mexicans – to falsely tie their immigrant identity to pervasive criminal activity.

Mayor Mark Dion of Portland, Maine, speaks at a news conference on January 21 [Patrick Whittle/AP Photo]

Parallels with Minnesota

Trump’s focus on the Somali community comes after a handful of members were implicated in a fraud scandal in Minnesota, a midwestern state where immigration enforcement operations were launched in December.

Those efforts have been marked by violent clashes between federal agents and protesters, and one woman, 37-year-old Renee Nicole Good, was shot dead in her car after an interaction with Immigration and Customs Enforcement (ICE).

Fears that those tensions could spill into Maine dominated a Wednesday news conference with city officials in Portland.

Mayor Mark Dion told reporters that immigrant communities in the region felt “anxious and fearful” as ICE agents began their crackdown.

“They see this action as unpredictable and a threat to their families,” he explained.

He also questioned whether a heavy-handed operation was necessary to address immigration infractions in the area, and he called on ICE to adopt different tactics than it had in Minnesota.

“I want to underscore one important point: While we respect the law, we challenge the need for a paramilitary approach to the enforcement of federal statutes,” Dion said.

“Federal immigration law is lawful. Its administration and enforcement is lawful,” he added. “What we’ve been concerned with, as a council, is the enforcement tactics that ICE has undertaken in other communities, which to our mind appear to threaten and intimidate populations.”

Nevertheless, Dion expressed optimism that ICE would adopt a more tailored approach to apprehending local suspects.

While the city of Minneapolis, Minnesota, has seen nearly 2,000 immigration officers flood its streets, the mayor predicted that Maine would not see the same “massing of federal agents”.

“We’re seeing very individualised activity by ICE. A person here, a neighbourhood there,” he said. “Their conduct, at least as it is current in Maine, seems to be focused, which would indicate to me – and this is the speculation – that they’re functioning on the basis of an actual court warrant.”

That, he said, marked a departure from the “random, show-me-your-papers kind of experience” that residents had experienced in Minnesota.

A memorial for Renee Nicole Good in Minneapolis
Well-wishers on January 20 visit a makeshift memorial for Renee Nicole Good, who was fatally shot by an ICE officer in Minneapolis [Angelina Katsanis/AP Photo]

Outrage at ICE operations

Still, while Dion advocated for a wait-and-see approach to the ICE operation, other city officials took a harder stance.

One Portland city councillor,  Wesley Pelletier, described the unfolding raids as part of “an agenda of white nationalism and might makes right”.

“This is a war of terror that’s being waged on our city by the federal government,” Pelletier said. “We’ve seen people of all ages getting thrown on the ground and getting thrown into trucks.”

So far, Fox News quoted ICE Deputy Assistant Director Patricia Hyde as saying the agency had made 50 arrests so far as part of operation “Catch of the Day”. Hyde added that ICE had identified nearly 1,400 individuals to detain in Maine.

Wednesday’s statement from the Department of Homeland Security highlighted four arrests as examples, showing people from Sudan, Guatemala, Ethiopia and Angola.

It described the four individuals as “the worst of the worst” and accused them of crimes ranging from aggravated assault to endangering the welfare of a child, though it was unclear in one case if the accusation had resulted in a conviction.

“We are no longer allowing criminal illegal aliens to terrorize American citizens,” McLaughlin said in the statement.

But Democratic officials in the state suggested that the Trump administration had refused to coordinate in the lead-up to “Catch of the Day”, heightening anxiety on the local level.

On January 14, nearly a week before the operation was launched, Governor Mills posted on social media that she had “attempted, unsuccessfully thus far, to confirm” the upcoming surge in federal immigration enforcement.

In a video statement, she said the state had reached out to local governments in Portland and Lewiston to prepare. She added that she too felt “angry” about the expected surge.

“Our goal, as always, will be to protect the safety and the rights of the people of Maine,” Mills said.

“To the federal government, I say this: If your plan is to come here to be provocative and to undermine the civil rights of Maine residents, do not be confused. Those tactics are not welcome here to the people of Maine.”

She also took a jab at the trend of federal agents using masks and other facial coverings to conceal their identities.

“Look, Maine knows what good law enforcement looks like because our law enforcement are held to high professional standards,” Mills said. “They are accountable to the law. And I’ll tell you this: They don’t wear a mask to shield their identities, and they don’t arrest people in order to fill a quota.”

Janet Mills
Democratic Governor Janet Mills has openly opposed Trump administration policies [File: Robert F Bukaty/AP Photo]

A political rivalry

Mills and Trump have long been political adversaries, with their feud erupting in a public forum. In February last year, shortly after Trump returned to office for a second term, he hosted a White House gathering for governors, where he called out Mills personally.

“Is Maine here? The governor of Maine?” Trump said while outlining policies barring transgender athletes from sporting events. “Are you not going to comply with it?”

“I’m complying with state and federal law,” Mills responded. The tension escalated from there.

“You’d better comply because otherwise you’re not getting any, any federal funding,” Trump shot back.

“See you in court,” Mills replied.

“Good. I’ll see you in court. I look forward to that. That should be a really easy one. And enjoy your life after, governor, because I don’t think you’ll be in elected politics,” he said.

The interaction made national news and cemented the frosty relationship between the two leaders, with Trump demanding an apology and slamming the Democratic governor for months afterwards.

His administration also took a series of escalating actions designed to target Mills, including launching an education probe in her state, suspending a marine research grant and freezing other federal funds to Maine.

In response to this week’s ICE deployment, Mills issued a short statement acknowledging the Trump administration’s latest efforts.

“Together, we will continue to place the safety and civil rights of Maine people above all else, and remain vigilant in our defense of due process and the rule of law,” she wrote.

Maine is set to hold its next gubernatorial race in 2026, as part of the year’s midterm election cycle.

Having served two terms as governor, Mills is not eligible for re-election and will instead be making a run for the US Senate, challenging Republican incumbent Susan Collins.

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Genes, not just lifestyle, contribute to the longevity of super-agers

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Using the largest sample of super-agers to date, scientists have found convincing evidence that supports what many of us have suspected: Longevity isn’t just about healthy lifestyle choices, but also a good draw in the genetic lottery.

Researchers from Vanderbilt University Medical Center investigated what super-agers – people who enter their 80s with the cognitive function of those many decades younger – might have in common. And they found clear genetic evidence that their fundamental biology is playing a big part in living healthier for longer. This supports 2020 research that found the brains of super-agers actually look different, too.

The team used data from the Alzheimer’s Disease Sequencing Project Phenotype Harmonization Consortium, which included 18,080 participants from eight national aging cohorts. The scientists found that compared to people over 80 years with Alzheimer’s disease (AD), super-agers were 68% less likely to carry the Apolipoprotein E epsilon 4 gene – or APOE-ε4 – the well-known AD-risk gene. What’s more, when compared to even healthy people in the same age bracket, super-agers were 19% less likely to have the APOE-ε4 gene.

But it’s not just about risk reduction, the researchers found. As well as having a much lower rate of carrying this problematic gene, super-agers had a much higher incidence of also having protective DNA, APOE-ε2. Compared to healthy people over 80 years, super-agers were 28% more likely to carry APOE-ε2 – and this jumped to 103% when measured against people with AD in the same age bracket. Essentially, they were twice as likely to have this protective gene.

“This was our most striking finding – although all adults who reach the age of 80 without receiving a diagnosis of clinical dementia exhibit exceptional aging, our study suggests that the super-ager phenotype can be used to identify a particularly exceptional group of oldest-old adults with a reduced genetic risk for Alzheimer’s disease,” said Leslie Gaynor, assistant professor of Medicine in the Division of Geriatric Medicine, who co-led the study.

While “super-agers” is a catch-all term, it’s widely used to group together people who are 80 years or older with the cognitive function of healthy adults aged 50 to 64. For some time, scientists have been trying to work out just why these people defy the statistics when it comes to aging – and in turn tend to live healthily for longer.

“With interest in super agers growing, our findings notably encourage the view that the super-ager phenotype will prove useful in the continued search for mechanisms conferring resilience to AD,” Gaynor said.

“This is by far the largest study to date to identify differences in APOE-ε4 allele frequency based on super-ager status, and the first study to find a relationship between APOE-ε2 allele frequency and super-ager status,” she added. “We would expect these findings to lend continued interest to questions of how these variants may influence development of clinical dementia due to Alzheimer’s disease, as well as to the super-ager phenotype more generally.”

While observational, the study sheds light on the role genes may play in why a small subset of people remain cognitively sharp well into their 80s and beyond.

The study was published in Alzheimer’s & Dementia: The Journal of the Alzheimer’s Association.

Source: Vanderbilt University Medical Center

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Trump announces progress on Greenland deal and drops tariffs threat

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Bernd Debusmann JrWhite House reporter

Watch: The BBC’s Faisal Islam on how Trump’s Davos speech was received

President Donald Trump says the US has a potential deal on Greenland as he dropped plans to impose tariffs on European countries that had opposed his ambitions for America to acquire the island.

On social media, Trump said a “very productive meeting” with Nato’s leader had led to the “framework” of a potential agreement covering Greenland and the Arctic.

“This solution, if consummated, will be a great one for the United States of America, and all Nato Nations,” Trump posted.

Earlier on Wednesday, he told the World Economic Forum in Switzerland that he would not use military force but wanted immediate talks to secure ownership of the territory, which he says is vital for US national security.

On Truth Social on Wednesday, Trump said: “We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region.”

Further information would be made available “as discussions progress”, he added.

The US president added that Secretary of State Marco Rubio and Special Envoy Steve Witkoff would “report directly” to him as negotiations continued.

Danish Foreign Minister Lars Løkke Rasmussen said in a statement: “The day is ending on a better note than it began.”

He added: “Now, let’s sit down and find out how we can address the American security concerns in the Arctic while respecting the red lines of the Kingdom of Denmark.”

In the hours that followed, some details trickled out.

Trump told CNBC the possible deal would last “forever” and could involve mineral rights and the planned Golden Dome missile defence system, which is envisioned as a shield of interceptors and detectors spanning land, sea and space to protect the US from long-range missile strikes.

Along with Greenland’s position on the globe, the Trump administration has spoken about its vast – and largely untapped – reserves of rare earth minerals, many of which are crucial for technologies including mobile phones and electric vehicles.

Ros Atkins on… Trump’s Davos speech claims

After the post, Trump told CNN in Davos that the deal framework for Greenland was “pretty far along” and “gets us everything we needed to get”, especially “real national security and international security”.

He did not say if the framework included American ownership of Greenland, though.

Trump had previously dismissed the idea of leasing Greenland, saying that “you defend ownership. You don’t defend leases.”

According to the New York Times, the plan would grant the US ownership of small pockets of the territory’s land, where American military bases could be built.

Officials who attended a Nato meeting about the matter on Wednesday told the newspaper the suggested arrangement would be similar to UK bases on Cyprus, which are part of British Overseas Territories.

Under existing agreements with Denmark, the US can bring as many troops as it wants to Greenland. It already has more than 100 military personnel permanently stationed at its Pituffik base in the north-western tip of the territory.

Nato spokeswoman Allison Hart said in a statement that during the meeting Trump and Rutte had “discussed the critical significance of security in the Arctic region to all Allies, including the United States”.

“Negotiations between Denmark, Greenland, and the United States will go forward aimed at ensuring that Russia and China never gain a foothold – economically or militarily – in Greenland,” she also said.

Watch: Trump takes aim at world leaders in Davos speech

Trump had said he was planning to place a 10% tariff “on any and all goods” sent from the UK to the US from 1 February, increasing to 25% from 1 June, until a deal was reached for Washington to purchase Greenland from Denmark.

The same would apply to goods from Denmark, Norway, Sweden, France, Germany, the Netherlands and Finland – all of which are members of Nato, the defence alliance founded in 1949.

In a speech to the World Economic Forum in Davos, Trump said he was “seeking immediate negotiations” to acquire Greenland, but insisted the US would not take the territory with force.

“We probably won’t get anything unless I decide to use excessive force. We’d be unstoppable, but we won’t do that,” Trump said. “I don’t have to use force. I don’t want to use force. I won’t use force.”

He also urged world leaders to allow the US to take control of Greenland from Denmark, saying: “You can say yes and we will be very appreciative. Or you can say no and we will remember.”

But Trump suggested he would not be receptive to any agreements on the US use of Greenland that fall short of full ownership.

In his own speech at Davos a day earlier, French President Emmanuel Macron criticised Trump’s previous threat of tariffs, saying an “endless accumulation of new tariffs” from the US was “fundamentally unacceptable”.

Macron was among those urging the EU to consider retaliatory options against new US levies.

In his speech, Trump took aim at Macron, saying France had been “screwing” the US for decades.

The US president also took a swipe at Canadian Prime Minister Mark Carney, who urged “middle powers” such as Australia, Argentina and his own country to band together when he spoke at Davos a day earlier.

In response, the US president accused Carney of being ungrateful to the US.

“Canada lives because of the United States,” Trump said. “Remember that, Mark, the next time you make your statements.”

Thailand’s Longest-Running Cement Company Embraces 3D Printing to Transform Operations

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Nestled in the heart of Bangkok’s Chinatown, the Ong Ang Canal served as a vital trade artery in the 18th century. Over time, it became heavily polluted, and even earned a reputation as the city’s dirtiest canal.

Last month, as part of a broader government effort to revitalize the canal, Siam Cement Group (SCG), Thailand’s oldest cement firm, unveiled the country’s first 3D-printed pedestrian bridge across its waters. 

The bridge is part of SCG’s drive to bring new construction materials to Southeast Asia, Surachai Nimlaor, who helms its operations in cement and green solutions, tells Fortune in a Jan. 20 interview. 

The company first started applying 3D printing tech to construction in the early 2020s, including the 2023 construction of the world’s first 3D printed medical center in Saraburi, Thailand. 

“When we use 3D printing, we can shorten construction time and create buildings with unique shapes that conventional builders may not be able to achieve,” says Nimlaor.

The process involves creating a digital model, slicing it for the 3D printer, and then allowing the printer’s robotic arms to set down concrete, layer-by-layer, to form structures. By removing the need for traditional molds or formwork, it enables freeform architecture which includes sculptural curves and undulating walls. SCG’s 3D printed medical center, for instance, has fluid facades that would be difficult to execute with conventional cast concrete.

Courtesy of Siam Cement Group

This technology could be especially valuable for Thailand, where an aging population and a workforce wary of construction jobs is shrinking the sector’s pool of available workers. Nimlaor explains that the industry has been forced to turn to foreign workers from neighboring countries like Cambodia and Myanmar. (According to 2025 data from Cambodia’s Ministry of Labour and Vocational Training, there are over 1.2 million Cambodian workers in Thailand, many of whom are employed in construction.)

Still, 3D printed buildings are often only one or two storeys tall, Nimlaor admits, as taller buildings introduce “material constraints around structural loads and stability.”

Thailand’s first cement firm

SCG was founded in 1913 to build Bangkok’s first cement plant, under the orders of then-King Rama VI. In the century that followed, the company expanded to focus on three core businesses: cement and building materials, chemicals, and packaging.

Today, SCG is Thailand’s largest building materials company, with a 2024 revenue of $14.5 billion. It ranks No. 21 in Fortune’s Southeast Asia 500 list, which sorts the region’s largest companies by revenue. SCG has also expanded to other parts of Southeast Asia, including packaging businesses in Malaysia and a petrochemical plant in Vietnam.

Greening the construction industry

Beyond 3D printing, SCG is also developing low-carbon cement, tackling an industry that accounts for roughly 8% of global carbon emissions, according to the World Economic Forum.

SCG is trying to formulate cement produced using biomass, like wood. This cuts the carbon emissions from the production process by as much as 20% per ton, Nimlaor claims. SCG now exports its low-carbon cement to the U.S. and Australia, where developers now prefer materials that meet ESG standards. 

“ESG has become a very strong driver in the global market,” he explains. “Many companies now have clear carbon-reduction targets and sustainability commitments.” 

SCG hopes to launch the third-generation of its low-carbon cement, which would cut carbon emissions from production by up to 40%, but Nimlaor has hopes that they can eventually cut emissions by up to 90%. 

Looking forward, SCG hopes to continue pushing the boundaries in creating greener construction materials. “Sustainability and business growth must go together,” he concludes.

Macron’s Eye Condition Forces Him to Wear Sunglasses While Speaking at Davos

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new video loaded: Eye Condition Causes Macron to Take Stage in Shades at Davos

A medical issue, not the dictates of fashion, led President Emanuel Macron of France to address the World Economic Forum in Davos, Switzerland, while wearing sunglasses on Tuesday.

By Jake Lucas

January 21, 2026

Duetti secures $200 million in new funding, with a $50 million Series C equity investment from The Raine Group leading the way

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The landscape of alternative funding options for indie artists, labels, and distributors is hotting up.

Just yesterday (January 20), a new financing platform made itself known, with ambitions to become the “largest funder of independent music globally”.

That new company, Pipeline, backed by Matt Spetzler’s investment firm Jamen Capital, said it has raised over USD $200 million in capital and aims to help independent music companies “unlock the value of their intellectual property, in order to drive growth and scale”.

Elsewhere in the space, prominent music financing platform beatBread has deployed over $100 million across 1,700 funding agreements since its founding in 2020. The company raised $124 million in fresh funding last year from backers including equity capital from Citi, Deciens Capital, Mucker Capital, and Advantage Capital.

Now, music investment company Duetti has secured $200 million in fresh financing.

The financing is led by a $50 million Series C equity investment by Raine Partners, the flagship growth equity fund of The Raine Group, alongside a second $125 million private securitization and a $25 million increase of an existing credit facility.

In connection with the equity financing, Joe Puthenveetil, Partner at The Raine Group, will join the Duetti Board of Directors.

Since its founding in 2022, Duetti has raised over $635 million, including more than $100 million in equity. The company has worked with more than 1,100 artists, songwriters, and other music creators across over 40 countries, purchasing portions of their music catalogs while providing marketing and management services.

The latest funding round comes less than a year after Duetti raised $200 million in a debt financing composed of a $150 million bank facility and a $50 million side facility from Viola Credit.

Duetti said that it is signing over 80 deals per month on the back of its expansion into publishing rights, in addition to its acquisitions of master recording rights. It also offers marketing and catalog management services such as playlisting through a network of more than 3,000 playlists with over 5 million followers across DSPs.

“The traditional music industry and the financially driven catalog buyout funds are not able to keep pace and adapt their infrastructure to the explosive growth of the independent music sector.”

Lior Tibon, Duetti

The company operates with a 65-person team across New York, Los Angeles, Miami, Nashville, London and Rio de Janeiro. Over 30% of its deals in 2025 came from outside the US, with activity in France, the UK, Germany, Brazil and Mexico.

Lior Tibon, CEO and Co-Founder of Duetti, said: “The traditional music industry and the financially driven catalog buyout funds are not able to keep pace and adapt their infrastructure to the explosive growth of the independent music sector.”

The new equity funding will go toward expanding Duetti’s technology infrastructure, enhancing marketing services, and growing its international operations. Tibon says the company is building proprietary databases and systems to identify and evaluate independent music catalogs.

Added Tibon: “This new funding allows us to continue building proprietary databases and systems to identify, predict, and effectively manage and support music catalogs of independent creators, the fastest growing and most exciting segment of the industry.”

“Duetti has democratized the industry by enabling artists at every stage of their careers to monetize their rights and access the marketing and growth resources offered by a modern label and publisher.”

Joe Puthenveetil and Fred Davis, The Raine Group

Joe Puthenveetil and Fred Davis, partners at The Raine Group, said: “We are excited to partner with Lior and team as they develop a next-generation music company that empowers independent creators. Duetti has democratized the industry by enabling artists at every stage of their careers to monetize their rights and access the marketing and growth resources offered by a modern label and publisher.”

The $125 million securitization marks Duetti’s second such transaction, which, according to the platform, brings “its master trust total to $205 million”. The company completed what it calls the first asset-backed securitization (ABS) transaction primarily backed by independent artists’ catalogs in October 2024. Duetti says it plans to continue using the securitization market as a financing source.

Duetti offers what it describes as flexible deal structures, buying a portion of artists’ catalogs rather than acquiring full ownership.

Duetti’s backers now include The Raine Group, Flexpoint Ford, Nyca Partners, Viola Ventures, and Roc Nation. The company was founded by Tibon, who formerly served as Tidal’s COO, alongside Christopher Nolte, a former Business Development executive at Apple Music.

Duetti is among a few music companies that have dipped their toes in asset-backed securitization. The most recent ones include Recognition Music Group with its three-times oversubscribed $372 million ABS offering, Concord’s $1.77 billion transaction and SESAC Music’s $889 million whole business securitization.

Music Business Worldwide