Wearable tech startup Nuheara has raised $9 million from institutional investors, just five months after the ASX-listed startup began distributing its intelligent earphones.
The patented Nuheara earphone technology allows users to alter sound levels, amplifying conversations and suppressing background noise.
It was developed by co-founders Justin Miller, formerly chief executive of global communication company Sensear, and San-Francisco based David Cannington, in collaboration with scientists from universities in Australia and overseas.
“The real smarts in our product is the ability to overlay the digital and physical world,” Miller tells StartupSmart.
“Augmented hearing is the same in principle as augmented reality. Perhaps you’re at the football, you’re streaming the commentary, you’ve turned down the roar of the crowd but you’re still being able to talk to the person next to you,” he says.
As Australia’s only listed consumer wearables company, Nuheara has had an unconventional path to success.
Since backdoor listing on the Australian Securities Exchange pre-revenue, Nuheara, which is co-located in Perth and San Francisco, has become the first listed company to run a crowdfunding campaign, which gained more than $1 million in funding from 80 countries in a 60-day period in 2016. Read more
Angela Castles – Smart Company – 21 July 2017