Netherlands-based Mayht, a company that develops technology for producing compact yet powerful loudspeakers, announced that it has raised an undisclosed amount of funding in its Series A follow-on round.
The audio-tech startup had raised an undisclosed amount in its Series A round in April 2020. With this current follow-on round, Mayht reports to have raised nearly $10M (approx €8.82M) so far.
Who are the investors and how are they influencing Mayht
The current round was led by Swedish solar cell company Exeger, venture capital firm Forward.One, and world-renowned music producer and DJ Martin Garrix.
Exeger founder Giovanni Fili says, “Exeger launched Powerfoyle earlier this year in self-powered headphones by Urbanista with infinite listening. The market response was extraordinary, and many are predicting that Powerfoyle, just like Bluetooth, will become a new standard for wireless headphones.”
“Now, together with Mayht, we are going to set another standard, this time in the speaker market with an endless listening experience from amazing sounding speakers. Mayht and Exeger are two of the most innovative tech companies in Europe and I’m incredibly excited about the strong alliance that we’re forging,” adds Fili.
Speaking about why he’s invested in Mayht, Martijn Garritsen, professionally known as Music Producer and DJ Martin Garrix, says, “Hearing Mayht’s technology in action, I strongly believe this is a company that can change the audio industry. My love for music and great sound is at the forefront of this innovation, which is exactly why I’m excited to be investing in the future of such a young and innovative Dutch tech start-up.”
Alongside Exeger, Forward.One and Martin Garrix, Mayht’s advisory and operational board has also invested in the funding round. The board brings together decades of senior management, audio engineering, and product innovation expertise from working at diverse international audio product manufacturers.
“Disruptive transducer technology”
Mayht was founded in 2016 by brothers Mattias and Timothy Scheek in their bedroom and has since gained backing from serious industry advisors and pioneers in the music space. Their technology allows consumer electronics firms to miniaturise speaker tech, meaning that companies can shrink soundbars, home voice assistants, quality car speakers, or wifi speakers, without losing the high-quality sound.
This means users will soon be able to experience home cinema theater bass from a single soundbar without the need for a separate subwoofer, portable bluetooth speakers as powerful as large party speakers, and receive floor-standing speaker sound quality from their WiFi speakers and home voice assistants.
The technology behind Mayht
Mayht’s Heartmotion technology is compact and self-balancing, meaning consumer electronics, and car manufacturers no longer need to design audio products constrained by conventional speakers. The technology also allows them to create new products that are up to ten times more compact, flatter and lightweight without any compromise to sound quality, range or output.
With this, consumer electronics and car manufacturers can create much smaller products and achieve both environmental and cost savings through significant reductions in materials, manufacturing, packaging, shipping, and retailing.
Speakers that use the Heartmotion technology platform can also offer consumers important reductions in energy consumption as they will require less power than comparable same size audio devices currently on the market.
How is investor Exeger helping Mayht?
Exeger’s patented solar cell material, Powerfoyle, converts all forms of indoor and outdoor light into clean, endless energy. It can be integrated into all consumer products that benefit from being self-powered and its “superior” design properties make it suited for the consumer electronics space.
Earlier this year, Exeger, which launched self-powered headphones, believes Mayht’s technology (and its efficient use of energy) coupled with Powerfoyle will open a completely new segment: self-powered speakers with infinite playtime.
Speaking on the development, Mattias Scheek says, “While consumer electronics have grown more powerful and compact in recent years, the core speaker technology within has hardly evolved. I truly believe our Heartmotion speaker technology is the revolution the industry has been dreaming of, but never thought possible. They will finally be able to create the sound experiences people want from everyday consumer electronics and automotive audio systems.”
“Until now, only those with big enough homes and the money to afford it could enjoy high-quality, immersive in-home sound experiences. Our vision is to make Heartmotion the new industry standard for speaker driver technology, making the best sound quality accessible to the masses,” says Scheek.
Capital utilisation
The raised capital will help Mayht to commercialise and license its Heartmotion technology globally.
“We’re looking forward to bringing until now unimaginable, high quality, full-range sound experiences including full bass spectrum to the most compact speaker devices,” says Scheek.
The Mayht management team is engaged in conversations with global tech giants, consumer electronics brands, speaker and car manufacturers, to showcase how its technology will revolutionise the home entertainment, portable device, voice assistant, soundbar, and automotive markets.
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