Axign BV, a Dutch based fabless semiconductor company, specialized in audio controller components, raised more than $10M in a venture round led by FORWARD.one. The existing investors (Innovation Industries, KBC Focus, Oost NL and Axign Founder & Business Angels) also participated in this round, as well as the Dutch governmental organization RVO who granted an Innovation Credit.
This investment round is a clear proof point of the strong commercial traction as well as an underpinning of the recognized potential of the core technology of Axign. The funding will allow the company to accelerate commercialization further and to develop their next generation audio chip for battery operated products, including earbuds and smart speakers. Axign technology will disrupt the fast-growing volume markets of earbuds by offering its unique Active Noise Cancellation technology and will bring voice control of smart speakers to a next level. Next to that Axign will use the funding to strengthen its worldwide commercial and field application organization to drive the fast-growing customer pipeline of high-volume A-brand audio players.
“Axign has transformed into the revenue growth phase by being selected by multiple high-volume customers for products like online audio streaming, active speaker party speakers, soundbars and voice controlled smart speakers. We are proud to see more and more Axign enabled audio products for sale across the world” said Axign’s CEO Paul Sandberg.
“FORWARD.one is very excited about the Axign technology which greatly improves sound quality of smart audio devices while making them more energy efficient and cheaper to produce. Together with a very capable commercial and highly skilled technical team this results in strong commercial traction that Axign sees in a fast-growing market and which makes Axign a good fit for our high-tech fund” said FORWARD.one partner Arjan Göbel.
“We are supporting Axign again in this funding round as we are convinced that its unique and patented ‘Digital Loop’ technology brings an extremely cost-effective solution combined with a ‘best-in-class’ audio experience to consumers in the mainstream audio segment. Axign operates in a really booming market and multiple leading audio brands are embracing the Axign technology with several products entering the market right now” said Rudi Severijns, Investment Director at KBC Focus Fund.
Axign’s mission is to create the ultimate audio experience for high volume products at lowest system cost enabled by Axign’s disruptive innovative & patented inventions. Axign is based in The Netherlands with offices in Enschede (headquarter) and Nijmegen.
FORWARD.one is a venture capital fund investing in high tech startups and scale-ups in the Netherlands. The €40m fund is managed by a team of financial experts and successful tech entrepreneurs with the skills to help accelerate growth.
About KBC Focus Fund
KBC Focus Fund is a €50 million venture capital fund that invests in advanced technologies with a particular emphasis on semiconductor, nanotechnology and IoT. The focus is on Belgium and surrounding countries where well-known expertise centers are located. KBC Focus Fund leverages on the network and expertise of KBC Group and is managed by KBC Securities, which has a solid knowledge of the tech ecosystem in Belgium and beyond, with experienced teams in Venture Capital, M&A, Corporate Finance, and Research & Sales. As part of the KBC Group, the KBC Focus Fund aims to be long-term partners for entrepreneurs.