Devialet Raises $19 Million With Prominent Entrepreneurs

Nov 12, 2012, 06:00 ET from Devialet

PARIS, November 12, 2012 /PRNewswire/ --

Devialet is the inventor of a revolutionary audio technology for sound reproduction at a previously unknown level of fidelity. Devialet D-Premier, the first product created by the company, is the most lauded audio system in the history of the industry. Its performance immediately apparent, its emotional power, its clean design make this French-made product the new reference sound.

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Founded in 2007 and based in Paris, the company has developed with the active support of 80 business angels.

As of 8 November 2012, Devialet has reached a new milestone by fundraising $19 million.

Thanks to this fundraising drive, $15 million are provided by a consortium of investors bringing together investment structures from Bernard Arnault, Jacques-Antoine Granjon, Xavier Niel and Marc Simoncini. They were convinced of the unique approach of Devialet and wished to encourage the growth of a company at the forefront of innovation in its industry.

The new investors stated: "We were attracted by the excellence of the D-Premier and the vision of the Devialet founders. Our goal is to provide expertise and experience that will help accelerate the development of the company into a major player in the music industry."

The balance of the capital increase derives from existing investors.

These funds are intended for the international expansion of the D-Premier and the development of new, very high-performance technologies in acoustics and electronics. The company has already begun to reinforce its teams of engineers and designers to prepare the launch of new products.

Devialet has been recognized on numerous occasions and the company has recently received the "Enterprise of the Future Ile de France 2012" award by Ernst & Young World Entrepreneur of the Year program, Les Echos and L'Express. This award comes after the EISA (European Imaging and Sound Association) Award 2011, Best of Innovation Award 2012 CES (Consumer Electronics Show) in Las Vegas and two dozen other international awards. The Musée des Arts Décoratifs in Paris also chose Devialet to provide sound reinforcement for the French Touch exhibition devoted to electronic music (107 rue de Rivoli, Paris 75001, October 10, 2012 - March 31, 2013).

About Devialet

Founded in late 2007 in Paris by Pierre-Emmanuel Calmel (technical), Emmanuel Nardin (design), Quentin Sannié (strategy and marketing), Manuel de la Fuente (commercial) and Mathias Moronvalle (technical), Devialet revolutionized the audio  world with its ADH ®(Analog Digital Hybrid) technology, designed for the digital era and to exploit all the benefits of digital music. This innovation came to life in 2010 with the creation of a first device, called D-Premier, which incorporated five patented technologies. This complete and integrated high-definition audio system, combining power and exceptional design, delivered sound reproduction at a level of fidelity never before achieved (Live & Lossless ® Sound). Praised by the media, professionals and music lovers worldwide, Devialet proved itself to be a major player in the sector. This French company with an international dimension (90% of sales to export) is now represented in more than 130 stores in over 35 countries. Devialet won the program PM'UP Region Ile de France as well as member of OSEO Excellence. Pierre-Emmanuel Calmel is Chairman of the Board, Chief Executive Quentin Sannié is CEO, Emmanuel Nardin is Administrator and Design Director, Manuel de La Fuente is Commercial Director.

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SOURCE Devialet