US-based microphone technology developer Vesper has completed a $23m series B round led by American Family Ventures, the corporate venturing arm of insurance provider American Family Insurance.
The round featured e-commerce and cloud computing firm Amazon’s Alexa Fund, as well as microphone manufacturer Shure, computer interface developer Synaptics, internet group Baidu and Bose Ventures, the strategic investment subsidiary of audio product supplier Bose.
Accomplice, Hyperplane Venture Capital, ZZ Capital, Sands Capital Management and undisclosed additional investors filled out the round’s participants.
Vesper makes compact microelectromechanical microphones for use in devices such as voice-activated smart assistants and bluetooth headsets.
The company’s flagship product, VM1010 with ZeroPower Listening, can act as a voice trigger in battery-powered machines while using very small amounts of power. Its technology is based on research from University of Michigan.
The capital will be used to expand production of Vesper’s products along with research and development, recruitment, customer support and the growth of its international sales activities.
Vesper had received $15m in a 2016 round led by Accomplice that included Alexa Fund, acoustic component producer AAC Technologies and optical film manufacturer Mirae Nano Tech. Its early investors include electro-acoustic product maker XinGang Electronics.