USound raises USD 30 million to ramp product manufacturing
USound, a developer and manufacturer of MEMS loudspeakers for personal devices and wearable technology, has raised USD 30 million to move into mass production of its second generation MEMS loudspeakers for several global companies.
The investment round was led by Austrian venture capital firm, eQventure, with participation from venture capitalists Hermann Hauser (co-founder of ARM) and Longzhong Yang (co-founder of BYD), as well as a participation from the European Investment Bank, a press release reads. “We are pleased to announce the launch of our second-generation MEMS loudspeakers that will further extend our product portfolio. With the steady growth of customers, USound is further extending the manufacturing network that already includes STMicroelectronics for the First Generation of MEMS loudspeaker and TSMC (Taiwan) for the ASIC Audio Amplifier. Collaborating with world-leading manufacturing companies, enable us to increase production volume, be more efficient, and improve the logistics process to reach our global customers,” said Ferruccio Bottoni, Chief Executive Officer at USound. USound is developing and manufacturing MEMS-based audio products for several international companies, including MEMS microspeakers for global TWS earbud brands, hearing aid companies like Shenzhen Magnet Technology Co., Ltd, augmented reality glasses with MEMS audio for an unnamed technology company, and in-ear health monitors for HMS. USound’s second generation was developed with the support in part of a EUR 2 million grant from the European Commission’s Horizon2020 program.