QuietOn™, the acclaimed Nordic developer of the world´s smallest active noise cancelling earbuds, has raised a total of €4.5M in its seed funding phase and launched into fundraising for the A round. Business Finland was the lead investor in the seed round, supported by a range of minority investments made by angel investors from across Finland and Europe.
The majority of the seed round will be used to fund QuietOn’s aggressive growth plans throughout Europe, North America and Asia, complementing $8M cumulative revenue to date and profitability in 2019. The planned A round funding will be used for both R&D as well as further worldwide marketing and sales efforts. QuietOn Sleep is the company’s second-generation product after a successful launch on Indiegogo®.
QuietOn Sleep has become a best-selling item in airline travel retail sales as well as being sold on the company’s own web-shop at Quieton.com and through Amazon®. The company holds several key patents around the unique analogue-based design of the earbuds as well as their incredibly small size to fit directly into the ear canal. As a device specifically catering to needs ranging from a good night’s sleep to tuning out noise in a newly-started home office, QuietOn has revolutionized the market for in-ear quietude devices.
“We are extremely pleased to announce this substantive seed round,” said Jussi Lemiläinen, CEO at QuietOn. “The vision we have shared with the world to create a peaceful, Nordic experience of quietude on demand has resonated not just with customers in more than 120 countries – our new investors are as convinced as we are that the world needs a solution like ours. QuietOn is well-positioned as we now enter our Series A raise, given our millions of dollars in revenue and profitability. Today, with all the stress in our lives brought on by the COVID-19 pandemic and being forced to work from home, the need for quiet and rest has never been more pressing and we are here to help address that need.”
About QuietOn:
QuietOn, Oy is based in the Arctic city of Oulu, Finland (famed as the seat of technology innovation in Finland) and is the acclaimed developer of the world´s smallest active noise cancelling earbuds designed expressly for ensuring silence as well as proper sleep hygiene. Utilizing Nordic design cues for ease-of-use and the most advanced technology to ensure quietude, QuietOn products are designed to bring the Finnish sensibilities of peace and tranquility into everyone’s life. QuietOn is now relied upon by tens of thousands of grateful customers in more than 120 countries across both professional and consumer markets.
Contact person
Jonathan Hirshon
QuietOn PR Counsel
jh@horizonpr.com
Source: QuietOn