XMOS Secures $19M Funding to Accelerate Global Growth and Support Development in Voice Interfaces

October 1 2019, 00:15
XMOS, a Bristol-based technology company, specialising in voice-processing, edge-AI and connected devices, announced the completion of a new $19 million financing round — fueling the company’s global growth, consolidating its technical leadership in far-field voice interfaces and developing a new product roadmap for the artificial intelligence of things (AIoT). The funds will also enable an expanded global footprint — including new staff in its Hong Kong office.

Backed already by some of the best names in high-tech venture capital, XMOS’ now secured new funding from Harbert European Growth Capital, a company specializing in financing European growth businesses in the technology, life sciences and environmental sectors. The $19 million investment round comprised equity funding, with participation from existing investors, and a venture debt facility with Harbert.

As XMOS details, the funding will support the company's continued growth and an expanded global footprint, enabling it to capitalize on its technical leadership in the far-field voice interface market, working with leading OEMs around the world.

The funding will also support the development of XMOS’s AIoT solution portfolio. This will build on the company’s 10-year pedigree in deep technology solutions for consumer devices, expanding its product set into a potentially transformative market that will fuel new digital and data services in the smart homes, smart cities and smart factories of the future.

“We have structured our venture debt facility to help later stage scale-ups just like XMOS gain access to capital without diluting its existing shareholders. We’re delighted to join XMOS in its drive to scale its existing business and position itself for the huge opportunity represented by the AIoT,” says David Bateman, senior managing partner at Harbert European Growth Capital.

“We’re very grateful for the ongoing commitment of our existing investors and welcome Harbert to our exciting journey. This increased investment will be a major part of the growth of the company as we ramp up the rollout of our exceptional XVF3510 2-mic voice interface and accelerate our AIoT roadmap,” adds Mark Lippett, president and CEO at XMOS.
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