Sydney (January 21, 2010)–Audinate Pty Ltd has raised $4 million in additional funding from an investment round led by existing investors, Starfish Ventures and Innovation Capital.
The company plans to use the funding to expand its global sales and support organizations, and accelerate development efforts. Audinate creates TCP/IP-based networking technology, such as Dante, a media transport solution adopted by OEM partners such as Bosch, Yamaha, Peavey, Dolby, and Lab.gruppen.
Explaining his company’s continued backing of Audinate, Michael Panaccio, Investment Principal of Starfish Ventures, said, “Audinate has created the world’s first truly compliant IP over Ethernet networking solution for the professional and installed Audio Visual industry,” adding that he felt Audinate’s management team had consistently delivered on transforming its technology into “a great global business.”
Roger Price, General Partner of Innovation Capital remarked, “We have been extremely impressed with the momentum of adoption among the major OEMs who have committed to implementing Audinate’s solution.”