Devialet Raises €100M in Funding
Summary
Devialet, a Paris, France-based sound technology startup, raised €100m in funding.The round was co-led by Ginko Ventures with participation from Foxconn, Groupe Renault, Sharp Corporation, Playground Global, Naver, Roc Nation, Future French Champions, CM-CIC Investissement and Bpifrance.In conjunction with the funding, Fleur Pellerin of Korelya Capital, and Jean-François Baril of Ginko, will join Devialet’s Board of Directors as Directors.The company intends to use the funds to roll-out technologies across automotive, television and Internet of Things (IoT) industries, continue to expand its distribution networks around additional immersive rooms in the style of those opened in Hong Kong or Singapore and new flagship stores adding to the Paris, London and newly opened Soho, New York ones, invest further in R&D to accelerate innovation in the field of sound and reinforce its portfolio of 107 patents and 61 international awards.Founded in 2007 by Quentin Sannié, CEO, Devialet offers a wireless speaker for users to experience ultra-dense sound with physical impact and replace all existing systems including Hi-Fi, docks, speakers, cinema.