The Paris-based speaker startup raised $50 million recently
French audio tech company Devialet secured a sum of $50 million in the latest funding round, which was interestingly steered by an anonymous China-based investor, along with two existing investors — Crédit Mutuel Equity and Bpifrance’s Large Venture fund. Devialet CEO Franck Lebouchard stated: “Our continued partnership with both Crédit Mutuel Equity and Bpifrance shows a clear confidence in our business strategy and in the truly unique technologies that our engineers have developed.”
The Paris-headquartered startup marks the latest funding — which has no debt component — as a crucial one, given the otherwise crawling start-up funding space across Europe.
As per reports, the company is witnessing double-digit growth. And with the latest funding, it will work on its licensing strategy while expanding its international market reach. Lebouchard said, “Meanwhile, the participation of our new partners in the Asian market will be a considerable asset as we continue to build out our licensing strategy and will provide ample opportunities to further build Devialet’s presence in Asia.” It must be noted that the audio engineering company’s primary market lies in Asia.
Devialet designs high-end speakers, its flagship being the egg-shaped Phantom I speaker. The company claims to use cutting-edge sound amplification technology, ensuring zero background noise, saturation and distortion. It is noteworthy that the startup also has a licensing division for its audio tech and patents. Devialet also released devices with Devialet-branded speakers in partnership with companies like Sky, Iliad, Altice USA and Huawei.