ENSCHEDE, Netherlands, Feb. 26, 2020 (GLOBE NEWSWIRE) -- Fabless semiconductor company Axign B.V., which specializes in audio controller components, today announced that it has received an equity investment from KBC Focus Fund as the lead investor, together with Innovation Industries and Oost NL. This investment round enables Axign to mass produce and launch their new audio devices worldwide. Additionally, the new funding will support the development and introduction of next-generation devices for cost-sensitive applications, such as active speakers and streaming audio systems.
Axign B.V. has developed a digital feedback audio chip that provides dramatically improved audio quality. The device, the AX5689, is fully qualified and ramping into mass production. According to Jeroen Langevoort, Axign CTO and founder, “The AX5689 enables audio system designers to more easily implement high sound quality in traditional high-end systems, and now enables superior audio quality in mid-range and lower-end systems, sound bars, connected streaming and smart speakers, as well as multi-channel AV receivers and TVs. All are product targets for the AX5689.”
The company is excited to bring its audio controller chip into platform developments of world-renowned audio consumer brands and expects several of these brands to announce production programs later this year.
Rudi Severijns, investment director at KBC Focus Fund, explains, “Axign’s technology brings the best audio experience to consumers in the mainstream and high-performance audio segment, but also allows brands to optimize overall system costs. We are excited to support the Axign team to market and sell the AX5689 flagship solution.”
According to Hans van Leeuwen, Axign CEO, “The feedback we have received from highly knowledgeable customer engineering and management sources is fantastic. The device is configurable and is perfect to use in a company-wide audio solution platform. It is available now in volume shipments.”
Please visit http://www.axign.nl for more information.
About Axign
Axign is a fabless semiconductor company serving worldwide audio markets in professional, consumer and automotive audio. Its first flagship product is a breakthrough audio controller chip that combines the highest reference audio performance in the market today with a lower-cost bill of materials for audio system manufacturers. The chip is especially suited for active speaker systems in streaming audio devices. For more information, please visit http://www.axign.nl.
About KBC Focus Fund
The KBC Focus Fund is a €50 million venture capital fund that focuses on advanced technology with a particular focus on semiconductor, nanotechnology and IoT. We focus on Belgium and surrounding countries where well-known expertise centers are located. The KBC Focus Fund leverages on the network and expertise of KBC Group and is managed by KBC Securities, with solid knowledge of the tech ecosystem with experienced teams in M&A, Finance, R&D, and Sales. The KBC Focus Fund aims to be long-term partners for entrepreneurs. Contact: Rudi Severijns, Tel +32 2448 5279, Rudi.Severijns@kbcsecurities.be
About Oost NL
Oost NL is the development company of East-Netherlands. We are strengthening the regional economy by investing in entrepreneurs in the eastern part of the Netherlands. We allow entrepreneurs to innovate, invest and internationalize to accelerate their growth. Oost NL makes the necessary financing and its network, knowledge and expertise available to entrepreneurs. With funding from the central government and the provinces of Gelderland and Overijssel and the Twente region, Oost NL invested in more than 220 companies with total fund assets under management of more than 330 million euros. The province of Overijssel has made €41.5 million available through the Innovatiefonds Overijssel to stimulate the regional economy and employment in the province and to promote innovation. Investments are made through loans and participations. Oost NL is fund manager. For more information, visit https://oostnl.com/en
About Innovation Industries
Innovation Industries1 is a leading venture capital firm that invests in high-tech, med-tech and agri-food-tech companies in The Netherlands. Innovation Industries maintains a hands-on management style, sharing its experience, knowledge and connections with entrepreneurs. Portfolio companies are actively supported in order to strengthen the value proposition, improve the time to market, identify and realize global strategic partnerships, and avoid the typical start-up pitfalls. With €250 million under management, Innovation Industries typically invests between €1-15 million in a single portfolio company but can provide follow-on funding of up to €25 million per company. Innovation Industries collaborates closely with the Dutch technology institutes.
Contact: Sander Verbrugge, Investment Director, sv@innovationindustries.com,
+31 6 2036 9419. www.innovationindustries.com.
1 The Innovation Industries is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implement productive investments in the European Union and to ensure increased access to financing.
Media Contact:
Hans van Leeuwen
CEO
Axign B.V.
hans.vanleeuwen@axign.nl
+31 6 4615 2973