Lightspeed Ventures, DCM and a group of private and strategic investors made the investment.
Thin loudspeakers developer AudioPixels Ltd. has raised $4 million in its first financing round from Lightspeed Ventures, DCM and a group of private and strategic investors.
AudioPixels CEO Daniel Lewin and Yuval Cohen founded the company six months ago. The company says that its technology enables the production of thin high-performance loudspeakers suitable for a wide range of devices. The company is currently in the R&D stage, and said proceeds from the financing round would be used to develop products and market the first product lines.
Lightspeed Ventures partner Yoni Cheifetz said, “AudioPixels has the potential to revolutionize the global loudspeakers market. Billions of amplifiers are installed worldwide every year. Amplifiers are found in every mobile device, laptop, television computers, vehicles and home entertainment systems. We believe that many new opportunities will crop up.”
Published by Globes [online], Israel business news - www.globes.co.il - on March 27, 2007
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