Belgium’s Auro Technologies has raised $28 million in funding from Chinese investors Beijing Jetsen Technology, which has taken a 20% stake.
The company, which is a spin-off of Galaxy Studio Group, develops audio solutions for music and film, like its Auro-3D product, amongst other industries such as automotive and gaming. The new funds will be used to further its footing in these markets.
The investment will also aid Auro’s intention to crack the Chinese market as Beijing Jetsen Technology has a strong presence in the audio and film production industry in China. Auro Technologies will be opening new offices in China as well as the US and added that it plans to make more important announcements in the near future.
“We are focused on continuing to deliver superior customer experience and innovative products and services, and are striving to make the Auro-3D immersive sound experience available to consumers whenever and wherever they want,” said Wilfried van Baelen, CEO of Auro Technologies.
“This strategic alliance with Beijing Jetsen Technology will allow us to make significant growth as a company and provides us with the additional resources needed to succeed as our business plans progress over the course of the next year.”
“With the past two decade of legacy experience in media entertainment industry, we can leverage our resources to further grow Auro’s business in broadcast and consumer electronic market,” added Shengli Han, CEO of Beijing Jetsen Technology.