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Dr. Dre and Jimmy Iovine’s latest investment just got some significant capital. Project “Daisy,” a streaming music service has just received a huge investment which will dramatically affect the position of the company.

“Daisy” which was once internal to headphone and speaker maker Beats Electronics, will now launch as its own standalone company now that the project has received a new $60 million investment.

Tech Crunch reports that Daisy is set to launch in “late 2013” according to a written release from Beats, whose flagship product is Beats By Dre headphones.

Beats co-founders Dr. Dre and Jimmy Iovine will partner with Nine Inch Nails’ Trent Reznor, who will serve as Daisy’s Chief Creative Officer. Topspin founder Ian Rogers will be the company’s CEO.

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