UK-based sound recognition technology developer Audio Analytic closed a $12m series B round today that was backed by National Grid Partners, the corporate venturing arm of energy supplier National Grid.
The round also featured Cambridge Innovation Capital (CIC), the patient capital fund allied to University of Cambridge, and unnamed existing investors.
Founded in 2010, Audio Analytic has created sound recognition technology that relies on contextual artificial intelligence, making devices such as voice-activated smart assistants more effective.
The system taps an index of acoustic data to recognise a wide range of sounds emitted by people, animals and habitats.
Audio Analytic already supplies its technology to several licensees and partners, and the series B cash has been earmarked for further technology development to support its long-term vision of giving all machines ‘a sense of hearing’.
The company, a graduate of University of Cambridge incubator Ideaspace, received $5.5m in an early 2017 series A round led by CIC that included Martlet, the investment arm of aerospace and property group Marshall of Cambridge, as well as IQ Capital Partners, Rockspring and Cambridge Angels.
The series A funding added to $1.4m raised from investors including CIC, IQ Capital and Cambridge Angels in 2016. Cambridge Angels had led a round of undisclosed size for Audio Analytic in 2010 before returning four years later to inject $1.5m in angel funding.
The original version of this article appeared on our sister site, Global University Venturing.