Axign receives equity investment
Enschede, October 6, 2017. Axign announces that it has received an investment from Innovation Industries, Innovation Fund Twente and Innovation Fund Overijssel. With the equity investment, Axign will ramp-up the volume production of its first audio controller chip, the AX5689. With this device, manufacturers of consumer audio devices can increase the sound quality to premium audio levels at significantly lower cost.
Jeroen Langevoort, Chief Executive Officer of Axign states: “Streaming audio will become the future standard for music reproduction in homes. We believe that our product contributes to this trend in delivering unprecedented sound quality in small cabinets, whilst provide cost saving to the manufacturer. Reactions from consumers are fantastic once they hear music with our solution. It ranges from “unbelievable, open and transparent” to “I never heard such detail, although I listened to this record over and over again”.”
Nard Sintenie, General Partner at Innovation Industries says: “We believe that the technology of Axign will bring the best audio experience at lower cost for consumers in the mainstream market segment. We are excited about leveraging the high-tech network in the Netherlands to enable this unique breakthrough.”
Pieter Rhemrev, manager business unit Capital at Oost NL, considers Axign an example how companies can grow in the financial eco-system of the Twente region. “We’ve been involved in Axign since the beginning. We’ve always had confidence in the company and the quality of their chip. Thanks to our prior investment from Innovatiefonds Twente in 2015 Axign could begin production of their chip. Now, with this new investment, they will be able to start mass production. This development will have a positive impact on the job market in the region”, says Pieter Rhemrev.
Axign Controller Platform: opportunities for all stakeholders
The Axign Controller platform offers opportunities for both manufacturers in the Pro-Audio markets as in the mid-range to high-end consumer audio markets. The system achievements are second to none in comparison with other audio products on the market. In next generation products, Axign will build on its high audio quality and combining it with increasing functionality to maximize cost savings for audio equipment manufacturers.