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Sep 02, 2023

Audio&Video Hardware Company AuditoyWorks Nets More than 100 Mn in Series C

EqualOcean has been informed that AuditoyWorks (Chinese: 蛙声科技), an emerging company in the field of audio and video hardware, has announced the completion of a CNY 100 million C round of financing.

EqualOcean has been informed that AuditoyWorks (Chinese: 蛙声科技), an emerging company in the field of audio and video hardware, has announced the completion of a CNY 100 million C round of financing.

Founded in 2018, AuditoyWorks is dedicated to the research, development and production of intelligent audio and video hardware. Within five years, its product matrix will cover a wide range of forms such as conference microphones, cameras, all-in-one PCs, smart whiteboards, etc., and iteratively update the product line for different industries' meeting needs and office spaces.

In 2022, AuditoyWorks' revenue will increase from USD50 million in 2020 to USD500 million, with steady and continuous growth in the domestic market. In the domestic market, AuditoyWorks' major domestic customers include several industrial head manufacturers, and has entered more fields such as education, and product application scenarios continue to expand.

AuditoyWorks has also achieved leapfrog development in the overseas market, the revenue share of the overseas market will reach 70% in 2022, and the overseas offline business has covered Europe, Japan, Southeast Asia and other countries and regions, and the products are widely recognized in the overseas market. In the overseas market, AuditoyWorks' main customers are small and medium-sized enterprises, including private clinics, law firms, restaurants, churches, etc., which have a high demand for its conferencing products and a strong willingness to pay.

In response to this market demand, AuditoyWorks continues to enrich its product categories and expand its online product layout, including personal office headsets, cameras, stylus boards, and even the new hot live broadcasting equipment. The marketing results of the products on online platforms such as Amazon are also remarkable, with business covering the United States, Canada, Germany, United Kingdom, Italy, Spain and other countries and regions, while the monthly revenue from 2021 to 2023 has achieved a breakthrough from zero to millions of dollars. This is another confirmation of AuditoyWorks' competitiveness on a global scale.

Adhering to the principle of "intelligent hardware + solutions + software system products, digital integrated service provider", AuditoyWorks will continue to deepen the video algorithm technology, such as close-up split screen, and speaker tracking, and increase the R & D investment in the field of creative collaboration. In the future, AuditoyWorks will continue to strengthen independent research and development and technological innovation, provide more meetings, and educational solutions, improve product performance and quality, to provide customers with high-quality, intelligent products and services.

The financing was led by the founder of a listed company, followed by Starlight Capital (Chinese: 昊辰资本), iVision Ventures (Chinese: 远望资本).