Sydney, Thursday, 17 April 2008, Innovation Capital today announced an investment in Audinate Pty Ltd. Audinate’s unique patented Dante™ technology allows time critical digital media to be transported using standard networking protocols, such as Ethernet and TCP/IP, without compromising performance or introducing unacceptable delays. The A$4million investment round was led by Innovation Capital and included the continued support of existing shareholders Starfish Ventures and NIPR.
Audinate was founded in late 2006 as a spin out company from National Information and Communication Technology Australia (NICTA). The company has initially concentrated on developing and marketing both hardware and software products to the international professional A/V industry. “We are very pleased with our progress over the first year of operations. Our technology can already be found in Dolby and Lab.gruppen products and we have entered into a number of agreements with some of the world's leading suppliers of professional AV equipment.” Said David Myers, CEO of Audinate.
Today, the large majority of professional audio installations are completed using analogue cabling. There has been limited market adoption of digital networking solutions because of inherent issues with setup, latency and synchronization of audio and video channels. A number of proprietary solutions have either failed to address these issues or require
specialized networking equipment and setup on isolated networks. Audinate has solved these problems with patented technology in two areas; Dante™ technology covers methods for tightly synchronizing the clocks that control analogue to digital conversions for all the equipment on a multi-use network, and for keeping transmission latency to a minimum. Incorporated within Dante is Zen™ which extends the benefits of Zero configuration and self discovery networking to media networks.
“We have already established a beach head in the US market and with the support of Innovation Capital and our existing investors, we anticipate the continued rapid adoption of our technology throughout the professional A/V industry.” Added David Myers. “The pedigree and calibre of the underlying technology developed by Audinate™ is clear and we are delighted to be able to support a strong entrepreneurial team as it seeks to play a major role in revolutionising the A/V equipment industry.” Said Roger Price, General Partner at Innovation Capital.
Myers concluded, “We look forward to working with and benefiting from the experience and expertise provided by Innovation Capital”.
About Innovation Capital:
Innovation Capital is an Australian venture capital firm that invests in physical and life science ventures. It provides finance and commercial expertise to assist Australian entrepreneurs build world class technology companies. It has offices in Australia and the United States. www.innovationcapital.net
Audinate's pioneering Dante™ technology builds on Ethernet and Internet Protocol Standards to make digital media networking easy, intuitive, cost-effective and error-free. Audinate™ delivers industry-beating low latency and synchronization technology to the Professional A/V industry. www.audinate.com