Investment growing

Cambridge Innovation Capital (CIC) has participated in the $12m Series B funding round completed by Audio Analytic.

The funding will be used to support the company’s vision to give all machines a sense of hearing.

Audio Analytic has developed AI sound recognition technology which can be embedded into consumer devices to make them more helpful for users, by understanding and reacting to the contextual information provided by sounds.

Audio Analytic’s products have been deployed globally and several of the world’s leading technology companies are licensees and partners.

Dr Chris Mitchell, Founder and CEO of Audio Analytic, said: “Our Series A round in 2017 raised $5.5m.

“Since then we’ve doubled the size of the company, licensed our technology to leading players and seen their products make a significant impact on the smart home market.

“This investment enables us to invest in core technology and IP, further extend the number of sounds and scenes that our customer’s products can recognise.

“It supports the continued rollout of sound recognition to disrupt a broad range of devices such as smart speakers, hearables, automotive and mobile.”

CIC is a venture capital investor enabling visionaries to build companies in the Cambridge ecosystem.

Andrew Williamson, Managing Partner of CIC, added: “Cambridge has a strong track record of leading the field in developments to sound and speech recognition.

“Audio Analytic is a great example of this leadership. They have demonstrated that providing consumer electronics with a sense of hearing enables a step change in device functionality and performance.

“CIC is delighted to continue supporting their growth.”