Project Daisy, Dr Dre and Trent Reznor's still-somewhat-mysterious streaming service, has broken free from the Beats Electronics name, helped by a $60 million (£40m / AU$58m) investment.

We already knew that the Nine Inch Nails frontman was helping to bring Daisy to life, describing it as a Spotify-style service "that adds a layer of intelligent curation".

Now Daisy is being spun off into its own living, breathing entity, which spells big things for the streaming service.

Dr Dre and Jimmy Iovine have partnered with Reznor, who will be Daisy's Chief Creative Officer, while former Topspin boss Ian Rogers will steer the project as CEO.

Beat 'em up

Yesterday we heard that Tim Cook had sat down with Beats CEO Jimmy Iovine in late February to discuss Project Daisy. How this relates to the project breaking away is unclear, though it may now be a case of the two companies sounding each other out rather than planning a formal partnership.

Beats also made a $14m acquisition of digital music service MOG last year for its Daisy Project, and last we heard, Daisy was coming to iOS, Android, Windows Phone 8 and desktops by the end of this year.

How Daisy can improve on the likes of Spotify and Pandora, however, is still a guessing game - but those big names and a $60 million investment is nothing to sniff at.

Via TechCrunch