San Diego - Social music discovery service mTraks said on Monday that it has received $550,000 in new financing from a group of private angel investors.

San Diego - Social music community mTraks announced on Wednesday that it has raised $550,000 from a consortium of private angel investors, and also launched a public beta version of its service. The service offers both subscription options and music for sale in unprotected 192kbps VBR MP3 audio, and features a catalog of 750,000 songs from over 6,000 independent record labels.