The funding expands Axign’s previously announced $10M (approx €8.53M) venture round led by FORWARD.one in March 2021 where existing investors Innovation Industries, KBC Focus Fund, Oost NL, and Axign Founder & Business Angels also participated.
The current round saw participation from Atlantic Bridge and Ten Cate Investeringsmaatschappij (TCIM). With this round, Axign has now raised $14M (approx €11.94M) in total.
Speaking on the development, Axign’s CEO Paul Sandberg, says, “We are very pleased to bring both investors on-board. Atlantic Bridge is a leading technology investor and will bring significant international and industry expertise, the entrepreneurship of TCIM is also a key asset.”
What does Axign offer?
Founded in 2014 by Jeroen Langevoort, currently also its CTO, Axign is a fabless semiconductor company serving worldwide audio markets in professional, consumer and automotive audio.
The company’s mission is to create the ultimate audio experience for high-volume products at the lowest system cost.
The term “fabless” means that the company designs and sells the hardware and semiconductor chips but does not manufacture the silicon wafers, or chips, used in its products.
The company’s first flagship product is a breakthrough audio controller chip that combines the highest reference audio performance with a lower-cost bill of materials for audio system manufacturers. The chip is especially suited for active speaker systems in streaming audio devices.
Axign has also developed a digital feedback audio chip that provides dramatically improved audio quality. The device, AX5689, is fully qualified and ramping into mass production.
According to Langevoort, “The AX5689 enables audio system designers to more easily implement high sound quality in traditional high-end systems, and now enables superior audio quality in mid-range and lower-end systems, sound bars, connected streaming and smart speakers, as well as multi-channel AV receivers and TVs. All are product targets for the AX5689.”
How will the funds be utilised?
The proceeds from this round will enable Axign to accelerate commercialisation of its products, and strengthen its worldwide commercial and field application organisation. This will in turn drive a fast-growing customer pipeline of high-volume A-brand audio players.
The funds will also enable the company to develop its next-generation audio chip for battery-operated products, including earbuds and smart speakers.