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Ingenious Audio has secured six-figure funding to expand its patented Wi-Fi Audio technology Fi-Live.
The deal includes backing from current shareholders, alongside Kelvin Capital and the Scottish Enterprise
Fi-Live claims to offer ‘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.
This is ideal for live music applications, like the guitar or microphone, time sensitive systems like TV speakers and gaming headphones, as well as performance applications like virtual reality, Hi-Fi speakers or headphones.
Joining the team to help lead the commercialisation of Fi-Live is Steve McMahon. With more than 30 years’ experience leading sales, marketing and product management activities in a variety of tech companies, he was recently instrumental in a trade sale of Scottish technology company Optoscribe to Intel.
Ingenious Audio chief executive John Crawford said: “Steve brings the skillset and first-hand experience of generating demand in a very targeted manner which is critical to advance Fi-Live as we expand from being a product focused company in one niche to a broad technology provider.”
McMahon commented: “In applications utilising mobile phones, the removal of headphone and power connectors has made it increasingly difficult for musicians and other users to interact with these massively powerful and convenient devices.
“Moreover, the developments in the next generation of Wi-Fi bring extensive data capabilities over huge physical areas facilitating future applications for real time audio streaming in a range of sectors including music, entertainment and communications.”
John McNicol, director at Kelvin Capital, added: “This is a truly exciting time for the company as they work towards expanding the business in to both a technology provider and a product company.”
The funding should allow 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.
Formed in 2010 and based in Edinburgh, with design teams in Glasgow, Ingenious Audio comprises a team of audio engineers and self-proclaimed guitar fanatics.
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