Warwick Audio secures £1.25m investment package
High-tech loudspeaker company Warwick Audio Technologies has
secured a £1.25 million investment deal to take its innovative
audio products to market.
The company, which has its engineering
headquarters, in Ebbw Vale, South Wales, has developed a flat,
flexible loudspeaker that is thin, lightweight and low powered. It
can be used in flatscreen TVs or audio panels, in car audio
systems, or in public address systems and advertising displays.
Investors in the company include Finance Wales
and the FSE Group, along with Midlands-based firms Mercia, MidVen
and Minerva Business Angels, and company directors. This funding
round brings the total investment in the company since its
inception in 2003 to £4.5 million.
The investment will enable Warwick Audio
Technologies to fully commercialise its operations, which include
developing audio products for Original Equipment Manufacturers.
Part of the investment will be used to market
highly directional loudspeaker products developed under Warwick
Audio’s subsidiary company, ZonarSound. These products include
concealed ceiling tile speakers, suspended speakers and flat sound
bars for use in public spaces where sound needs to be controlled.
Busy reception areas, railway and bus stations or galleries and
museums, for example, could all benefit from carefully directed
sound that doesn’t overspill into surrounding areas.
Company Chairman, Derek Mottershead, says:
“After many years of development this funding now gives us the
opportunity to complete the commercialisation of Warwick Audio and
establish a sound base for ZonarSound. We already have a number of
products on the market and we believe there is enormous potential
for growth. This investment will enable us to fully exploit that
John Mihell of Finance Wales said:
“Finance Wales is pleased to continue backing Warwick Audio
Technologies as it embarks on this next growth phase.
The company’s patented technology is already being
considered for powering a number of branded products and has
considerable further potential in a wide range of
applications. Launching the new directional speaker under its
own ZonarSound brand will be a major step forward and we wish them