Audio Analytic secures £9.4m Series B funding from Cambridge Innovation Capital, IQ Capital, and National Grid Partners to expand sound recognition technology.
National Grid Partners joined existing investors Cambridge Innovation Capital and IQ Capital in backing the sound recognition specialist.
Audio Analytic develops artificial intelligence sound recognition technology that enables consumer devices to understand contextual audio cues. The company licenses its software globally to manufacturers of smart home hardware and mobile electronics.
Audio Analytic has secured £9.4m in a Series B funding round from Cambridge Innovation Capital, IQ Capital, and National Grid Partners. The company will use the capital to invest in core technology and intellectual property, expand its audio recognition database, and scale its presence across smart speakers, automotive, and mobile sectors. National Grid Partners joined the round alongside existing backers.
From the founder
"Our Series A round in 2017 raised $5.5m. Since then we’ve doubled the size of the company, licensed our technology to leading players and seen their products make a significant impact on the smart home market,"
Chris Mitchell
Founder and CEO at Audio Analytic
Investor perspective
"Audio Analytic’s journey from a start-up to the world’s leading player in sound recognition has been very impressive. We are delighted to be a part of that journey and excited to see the highly professional team of National Grid join the syndicate."
Max Bautin
Managing Partner, IQ Capital
Use of funds
- 01Fund research and development
- 02Continue product development
Investors
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About the company
Audio Analytic
Audio Analytic develops AI sound recognition software to give machines a sense of hearing.