Estonia, Funds, Good for Business, Investments, Latvia, Technology
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 16:25
Audio technology startup Sonarworks raises EUR 500,000 from Estonian fund
The company’s co-founder Helmits
Bems said that the new financing will enable Sonarworks to develop products that will significantly enhance
music listening experience for people all over the world.
Sonarworks has worked out a unique software significantly enhancing the quality of
sound coming either from headphones or speakers. “Our mission as a company is
to ensure an impeccable sound of music from any existing headphones or
speakers, taking into consideration the conception of the music’s creators and
the listeners’ hearing characteristics,” said Bems.
According to information available at Firmas.lv, a 31.18% stake in Sonarworks belong to KS AIF Imprimatur Capital Technology Venture
Fund, Martins Popelis and Bems
each own a 17.35% stake, Proks Capital
owns 14.54%, KS AIF Imprimatur Capital
Seed Fund owns 8.93% and the remaining 10.64% belong in equal parts to VVMV and FlyCap Investment Fund I AIF.
In 2016, Sonarworks turned over
EUR 923,459 and sustained a loss of EUR 58,836.