Multivoice, a Provo, Utah-based developer of mobile, hands-free wireless systems that enable simultaneous and secure group communications among individuals in rigorous environments, raised $5.0m in seed funding.
OTTO Engineering, a Chicago-based designer and manufacturer of radio accessories for military, public safety and industrial use, acquired a minority stake in the company at a post-money valuation of $25m and will lead the integration of its new wireless communications platform into the two-way radio market.
Multivoice, which has also raised $750k in “friends and family” and angel funding, intends to use the proceeds for research and development efforts, expanded sales and marketing programs, and general operations.
Founded in 2011 by Ron Fraser, the company creates personal wireless intercom devices that enable simultaneous, hands-free wireless communication by teams of individuals in rigorous environments working together at distances of up to 1.0 mile apart. Multivoice’s first product—the MV900™Wireless Mesh-Network Intercom™— allows teams of up to eight co-workers to talk simultaneously on a secure, hands-free wireless network at distances of up to one mile apart without using a base station. Additionally, the device allows an unlimited number of listeners on the same wireless network, while also allowing listeners to become speakers as previous speakers drop into “listen-only” mode.
The company has also begun testing a new accessory that allows team members to simultaneously and securely share MV900 communications with a network of P25 radio users, thus augmenting and enhancing the functionality of P25 radios.
FinSMEs
15/01/2015