Sound Particles raises €2.5M in investment round with the participation of the 200M Fund
Sound Particles is the most recent investment by Banco Português de Fomento, through the 200M Co-investment Fund, in a round of 2.5 million euros in partnership with Indico Capital Partners and Iberis Capital.
Founded in Leiria, in 2016, Sound Particles has disrupted the audio software landscape by adapting graphic computing principles to sound, enabling the creation of more complex soundscapes and significantly increased workflow pace and volume for sound engineers working in major Hollywood blockbusters.
The Portuguese deep tech company is behind the Oscar for Best Sound winner- Dune – and its software is now used in the biggest Hollywood studios and in countless famous movie productions, such as Game of Thrones, Star Wars, Frozen and in video games like Fortnite, among others.
For Beatriz Freitas, CEO of Banco Português de Fomento, the managing entity of the 200M Fund, “Sound Particles and its team, led by Nuno Fonseca, represent the talent and dynamism that exists in the Portuguese entrepreneurial ecosystem. It is, therefore, with great enthusiasm that the 200M Fund supports this project, which is revolutionizing audio software and gaining international prominence in a market as competitive as that of movie productions. With this investment, BPF makes another important contribution to supporting and strengthening the competitiveness of Portuguese startups”.
BPF supports Sound Particles directly in this investment round through the 200M Co-investment Fund and, indirectly, through the Portugal Tech Program, through which the venture capital fund managed by Indico was subscribed, which also is investing in the company.
“In 2019, Sound Particles received its first €400k investment and, later on, received another €1.25M from the EU through the SME Instrument. This new round of €2.5M will allow Sound Particles to introduce new and innovative technological developments, strengthen its international market presence through a new Los Angeles office and promote organic growth”, explains Nuno Fonseca, founder and CEO of Sound Particles.
With this investment, the startup intends to launch a 3D audio technology for headphones, strengthening its market presence in Europe and North America and enlarging its product range in the music production vertical.