Warwick Audio Technologies announces completion of funding round in excess of £3 million
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Warwick Audio Technologies Limited, the specialist developer of a new generation of planar audio transducers, is delighted to confirm today that it has completed a new funding round totalling in excess of £3million. The round was backed by Mercia Technologies Limited, Chinese audio components supplier, Guoguang Electric Company Limited, and a range of private investors, including investments made through the crowdfunding platform, Syndicate Room.
The new funding will be used to continue development of its High-Precision Electrostatic Laminate ("HPEL") technology, support role out of its first product the Sonoma Model One (https://warwickacoustics.com), and take advantage of new commercial opportunities that have been identified in the automotive market.
Over the last eighteen months the strong performance of the HPEL transducers has been evidenced through the worldwide critical acclaim the Sonoma Model One has received from both audiophile reviewers and leading figures in the professional recording industry.
Mike Grant, CEO of Warwick Audio said: "We are delighted to have secured this new round of funding and in particular to have taken in significant monies from GGEC and several new investors. The amount raised materially exceeded our original funding target and represents a significant vote of confidence in both the team and the strategy we are pursuing. We look forward to continuing the substantial commercial progress the company has made over the last eighteen months since the current management team came on board."
Mike Grant CEO, Warwick Audio Technologies m.grant@warwickacoustics.comhttps://warwickacoustics.com/
ABOUT WARWICK AUDIO TECHNOLOGIES Warwick Audio Technologies Ltd is a UK-based technology company specialising in the development of High Precision Electrostatic Laminate audio transducer sub-systems (HPELs). This new generation of patented, lightweight, ultra-high performance loudspeakers enables the creation of outstanding products in a range of markets, including personal audio and automotive. HPEL-enabled products provide users in those markets with world leading Hi ResTM Audio reproduction in an ultra compact, high efficiency form factor.