$4 million investment funding for Audinate

Stephen Withers
Monday, 25 January 2010 04:16

IT Industry - Strategy

Audinate, a Sydney-based digital media networking developer, has attracted $A4 million in additional funding, largely from existing investors Starfish Ventures and Innovation Capital.

Audinate's Dante networking technology replaces traditional analogue connections with Cat 5 Ethernet, reducing the amount of cabling required while retaining the required tight synchronisation.

The system automatically discovers devices and channels, and is said to be easy to program.

"Over the past three years Audinate has transformed how high quality media networks are deployed by using standards based IT networking. These industry leaders are at the forefront of driving network convergence of A/V and IT infrastructure," said CEO Lee Ellison.

The latest $A4 million funding round was led by Starfish Ventures and Innovation Capital.

"Audinate has created the world's first truly compliant IP over Ethernet networking solution for the professional and installed Audio Visual industry," said Michael Panaccio, investment principal of Starfish Ventures.

"Audinate's management team has consistently delivered on transforming its unique technology into a great global business," he added.
 
"Audinate has been widely recognised for its superiority in delivering a highly scalable, low latency media distribution network which significantly reduces costs of cabling and simplifies installations," said Roger Price, general partner of Innovation Capital.

"We have been extremely impressed with the momentum of adoption among the major OEMs who have committed to implementing Audinate's solution," he added.

Those companies include Bosch, Yamaha, Peavey, Dolby, and Lab.gruppen.

Audinate is a spin-out from NICTA, Australia's ICT research centre of excellence.

"NICTA congratulates Audinate on its market success since it spun out of NICTA in 2006 and thanks Starfish Ventures and Innovation Capital for their continued support of NICTA and Audinate," said NICTA commercialisation director Rob Fitzpatrick.