Warwick Audio Technologies
Business profile
Location: South Wales
Sector: Electronics
Web site: www.warwickaudiotech.com
Investment
Amount: £300,000 (part of a £1.5m syndication
with Mercia Technology Fund and Porton Capital Inc)
Type: Equity
Executive: John
Mihell
Why we invested
Warwick Audio Technologies is a University of Warwick spin-out company.
It has developed an innovative technology: a lightweight and
flexible speaker system. Potential applications for the technology
include car interiors, advertising display panels and public
address systems.
Finance Wales recognised Warwick Audio Technology's potential
for growth and co-invested with a syndicate of existing
investors.
Outcome
Warwick Audio Technologies has established a headquarters
for engineering and prototype manufacturing in Wales.
It plans to launch its first commercial product in 2010 and is
currently in discussions with potential partners.
Testimonials
“This investment puts Warwick Audio Technologies in a really
strong position to make its technology a major market success.”
Steve Couchman, CEO, Warwick Audio Technologies.
“Our investment will support the commercialisation of this
exciting project and the further development of the technology in
Wales.” John Mihell, investment executive, Finance Wales.