France’s Devialet amps up with €50 million in new funds

French audio engineering company and producer of some of the world’s most interesting and dare I say iconic speaker systems, Devialet has secured €50 million via existing investors Crédit Mutuel Equity and Bpifrance via the Large Venture Fund, and … wait for it … a mysterious new Asian investor, from China, specialising in the miniaturisation of audio, optical and touch systems. 🤔

According to a statement released by Devialet, this mystery figure will also provide strategic value for the company as it aims to strengthen its presence on a global scale, but with a particular emphasis on the Asian market, as well as open the door for “joint product development”.

As we’ve seen Devialet increase and diversify their product lineup, venturing beyond “just” speakers and amps and into the personal sound space with earbuds, as well as the home sound space via the Dione soundbar, the Asian market can’t seem to get enough of these high end, and high priced, audio delivery devices. With six retail locations in China, five in South Korea, Japan, Hong Kong, Taiwan, and Indonesia, according to Devialet, the Asian market now accounts for three of the company’s five biggest countries in terms of sales.

“Our continued partnership with both Crédit Mutuel Equity and Bpifrance shows a clear confidence in our business strategy and in the truly unique technologies that have been developed by our engineers,” commented Devialet CEO Franck Lebouchard. “Meanwhile, the participation of our new partner in the Asian market will be a considerable asset as we continue to build out our licensing strategy, and will provide ample opportunities to further build Devialet’s presence in Asia.”

In addition to Bpifrance and Crédit Mutuel Equity, Devialet is also backed by Playground Global, Foxconn Technology Group, Naver, Groupe Arnault, Arrive, Daphni, Korelya Capital, Renault Group, Ginko Ventures, and Future French Champions, a joint venture between Qatar Investment Authority and CDC International Capital. Angel investors in the company include Marc Simoncini, owner at Jaïna Capital and former Meetic CEO,  Veepee CEO Jacques-Antoine Granjon, the omnipresent Xavier Niel, and co-founder, chairman, and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, Bernard Arnault. 

Tech.eu founder Robin Wauters sat down with Lebouchard back in July of this year to discuss the company’s future.