Soundhawk scores $5.5 mln

Soundhawk said Tuesday that it has raised $5.5 million in funding. The investors included Foxconn and True Ventures. Based in Cupertino, Calif., Soundhawk is focused on developing wearable hearing aid equipment.

PRESS RELEASE

CUPERTINO, CA — (Marketwired) — 06/24/14 — Soundhawk today unveiled a Smart Listening System that will help millions of people hear more of what matters most. Beginning today, you can pre-order Soundhawk at Soundhawk.com for a limited time offer of $279. Soundhawk’s suggested retail price is $299. The company also announced an additional $5.5 million in funding through Foxconn, True Ventures and other investors, and has entered a new strategic partnership with Foxconn.

Introducing Soundhawk’s Smart Listening System
As the world grows noisier, more people are hearing less of what matters most. Soundhawk is a unique blend of intuitive consumer technology and breakthrough hearing science designed to help people hear, communicate and connect. Soundhawk includes three elegantly designed and complementary pieces of hardware: the Scoop, Wireless Mic and Charging Case. Unifying the System is a simple and powerful mobile app that instantly personalizes Soundhawk to you and your environment.

The Soundhawk App: The app’s patented technology enables you to personalize Soundhawk to your unique hearing profile and the acoustics of different environments.

The Scoop: The Scoop is a small, stylish and comfortable wearable device for your ear that connects with all components of the System. It uses adaptive audio processing to enhance key sound frequencies and elevate what you want to hear while reducing unwanted background noise. The Scoop connects wirelessly to your phone or tablet via Bluetooth so you can also talk hands-free, and directly access Siri or Google Now to use your voice to place calls, search for places of interest, get weather updates and even check the score of last night’s game.

Wireless Mic: The Wireless Mic gets you closer to what you want to hear in even the noisiest environments. Simply place the Wireless Mic near what you want to hear and it will pick up that sound and deliver it in stunning clarity to the Scoop. The Wireless Mic is perfect for noisy places like restaurants, coffee shops or at home.

Charging Case: The Charging Case is a portable home base for the Scoop and Wireless Mic. It protects, organizes and recharges them so they are always ready to go.

“We designed Soundhawk’s Smart Listening System for people who want to hear, communicate, and connect better in everyday situations and environments,” said Michael Kisch, CEO of Soundhawk. “As our world gets noisier, many people are hearing less of what matters most. At Soundhawk, our mission is to transform the listening experience simply and affordably and empower people to hear the world the way that they want to.”

Additional Funding and Strategic Partnership with Foxconn
Soundhawk has raised another $5.5 million in funding from True Ventures, Foxconn and many leading Silicon Valley entrepreneurs, bringing the company’s total funding to $11.2 million.

Soundhawk has also entered into a strategic partnership with Foxconn. As the world’s largest developer and manufacturer of consumer technology products, Foxconn’s global expertise, resources and relationships will help Soundhawk rapidly scale its business.

“Soundhawk has the opportunity to profoundly help millions of people worldwide, and Foxconn is perfectly suited to play the role of partner and investor with this visionary team and company.” said H.L. Cheung, SVP of Foxconn.

“Foxconn’s unparalleled expertise in mass-market consumer electronics and True Ventures’ track record of advising category-defining hardware startups like Fitbit and Makerbot provide strong support for the Soundhawk team and mission,” said Kisch.

About Soundhawk
Soundhawk is on a mission to transform the listening experience simply and affordably so everyone can hear the world the way they want to. Founded by one of the world’s leading hearing experts, Dr. Rodney Perkins (California Ear Institute, ReSound, EarLens), and built by former executives and engineers from Apple, HP, Amazon and Palm, Soundhawk is backed by True Ventures, FIH Mobile Limited and many leading entrepreneurs. To learn more and keep in touch, please visit www.Soundhawk.com or follow us @Soundhawk on Twitter and facebook.com/Soundhawk.

About Foxconn
Hon Hai Precision Industry Co., Ltd., traded as Foxconn Technology Group, is a Taiwanese multinational electronics contract manufacturing company headquartered in Tucheng, New Taipei, Taiwan. It is the world’s largest electronics contractor manufacturer, and the third-largest information technology company by revenue.

Foxconn is primarily an original design manufacturer and its clients include major American, European, and Japanese electronics and information technology companies. Notable products that the company manufactures include the Kindle, Xbox One, Xbox 360, PlayStation 3, PlayStation 4, Wii, and Wii U.

About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups. With four funds and approximately $900 million in capital under management, True provides seed and Series A funding to the most talented entrepreneurs in today’s fastest growing markets. With a mission to make the world a better place for entrepreneurs, True encourages each founder’s vision and has built resources to empower the employees, families and communities of its portfolio companies. The firm maintains a strong founder community and offers innovative educational opportunities to its portfolio, helping entrepreneurs achieve higher levels of success and impact. With more than 150 companies funded and multiple companies acquired, the current True portfolio has helped create over 3,500 jobs. To learn more about True Ventures, visit www.trueventures.com.

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