Audio Tech Startup DSP Concepts Raises $28M
Audio tech startup DSP Concepts has closed a $28 million Series C funding round led by entrepreneur and investor Yuchun Lee. Lee is CEO of sales plaform Allego and is joining DSP as the new executive chairman. The company plans to use the new capital to further scale and enhance its smart audio services for its wide range of clients.
The California-based DSP is best known for the Audio Weaver embedded audio software platform, The Audio Weaver platform is used as the base layer for companies creating audio processing systems. The platform enables developers to merge multiple software modules and generate a customized service for whatever purpose they choose, and with minimal coding needed. The new investment will further the startup’s goals of leading the smart audio space.
“DSP Concepts’ unique technology and audio engineering talents have made it the clear leader in the emerging Audio of Things market,” Yuchun Lee explained. “Leading companies in the automotive and consumer electronics industries rely on DSP Concepts solutions when they need to rapidly and reliably embed sound and voice features into their products. DSP Concepts’ technology is quickly becoming the industry standard because it can dramatically reduce product development time and cost while appreciably improving audio performance and processing efficiency, opening up additional opportunities for product innovation.”
DSP’s technology is used in a broad array of consumer technology. For instance, Samsung applied Audio Weaver toward developing the first voice-enabled Dolby Atmos multi-channel soundbar on a single System-on-a-Chip. Amazon qualified TalkTo, DSP’s noise filtering software, for Alexa built-in devices in 2020, making it easier for third-party makers of Alexa-enabled devices to include TalkTo in their software. The same technology is used in Sensory’s VoiceHub wake word creation engine to isolate human voices from other noise. and by GoPro to eliminate the sound of wind from the audio recorded by drone flyers.
The new funding round approximately doubles the amount raised by DSP to $55 million and included participation from Sony Innovation Fund, Porsche Digital, and Subaru, among others. The company had previously picked up a $3 million investment from the Subaru-SBI Innovation Fund at the end of 2020. More than 50 million devices rely on Audio Weaver and its hundreds of modules, which is still just a small piece of what Futuresurce Consulting estimates are 2.1 billion devices that integrate voice processing.
“These additional funds will provide significant support to our continued expansion,” DSP Concepts CEO Chin Beckmann said.”We have grown our revenue by more than 100% since 2019 and are seeing our growth accelerate into 2022,” The additional funding will help us keep ahead of audio technology trends and continue our effort in solving challenging acoustic and engineering problems for our customers and partners.”