Kelvin Capital helps Ingenious Audio secure six-figure investment
Edinburgh-based Ingenious Audio has secured a six-figure funding package from Kelvin Capital, The Scottish Investment Bank and e2c to commercialise its patented Wi-Fi Audio technology known as “Fi-Live”.
The new funding allows Ingenious to secure new licensing partners for Jack and look at applying the core Fi-Live technology to new applications in Wireless TV speakers, Gaming and VR.
Fi-Live offers ‘better than Bluetooth’ audio over Wi-Fi, providing higher quality, longer range and much faster transmission, all while connecting to the standard Wi-Fi systems in PCs, tablets and phones, making it ideal for live music applications like the guitar or microphone, time-sensitive systems like TV speakers and gaming headphones and performance applications like VR, Hi-Fi speakers or headphones.
John Crawford, Ingenious Audio chief executive, said: “In applications like mobile phones, with companies looking to remove headphone and power connectors, it’s increasingly difficult for musicians and other users to interact with these massively powerful and convenient devices, and with the developments in the next generation of Wi-Fi bringing massive data capability over huge physical areas, the future applications for real time audio streaming over Wi-Fi are vast across music, entertainment and communications”.
John McNicol of Kelvin Capital, added: “E2C are a fantastic collaboration for Ingenious – they have decades of experience delivering consumer electronics, in gaming and point of sale, with customers worldwide; and have the proven design, test and manufacturing skills to optimise our technology. There’s few places in the world you can access this skillset, and now the team has it 20 minutes away.”
This adds to Kelvin’s 11 investments across its portfolio in 2019, totalling a record year of £12.5 million.