WOODINVILLE, Wash., Feb. 12, 2019 /PRNewswire/ -- Tectonic Audio Labs, Inc. (Tectonic) the leading provider of audio solutions using bending wave technology, today announced it has closed a $6 million Series B round co-led by WestRiver Group (WRG) and Delafield Hambrecht as the company rapidly expands into Smart Speaker and Traditional audio applications to better support the growing demand for its patented audio technology.
"Tectonic's focus on improving audio intelligibility in the IoT/Smart Speaker market has firmly established them as a leader in this growing space," said J.D. Delafield, President, Delafield Hambrecht. "The team will continue to deliver impressive applications for consumer electronics, headsets, soundbars & TV's and most recently the automotive markets."
The Smart Speaker market is expected to reach US$11.8 Billion by 2023, driven by the rapid proliferation of multifunctional devices and increasing number of smart homes according to Research and Market's January 2018 report. Tectonic is uniquely positioned to capitalize on this growth by utilizing its patented BMR technology which provides wide dispersion for room filling sound and high, off-axis speech intelligibility within a multitude of form factors. The flexibility and performance of Tectonic's BMR products has allowed it to be used in applications as diverse as voice-enabled smart devices, in-vehicle sound and premium home audio systems.
"We are very excited to continue our investment in Tectonic," said Anthony Bontrager, Tectonic Board member and WRG Managing Director. "The IoT space, and in particular the Smart Speaker market segment is ripe for disruption and Tectonic is very well positioned to capture a significant share of this market by solving the audio fidelity issues inherent in traditional audio solutions," noted Bontrager. "The Tectonic team has deep experience in designing and manufacturing BMR's for a wide range of industries and the company continues to demonstrate rapid growth through new customer acquisitions."
About Tectonic Audio Labs
Tectonic Audio Labs evolves the audio landscape by producing revolutionary flat panel speaker solutions that feature Bending Wave technology. Through sophisticated design, manufacturing and integration, Tectonic's innovative transducers deliver superior sound solutions that can currently be heard in everything from luxury hotels to smart speaker applications. Learn more at tectonicaudiolabs.com.
SOURCE Tectonic Audio Labs