Devialet

Devialet, the French start-up that has more awards than any other company in the world for its sound-based innovations, has just completed a €100 million fundraising from leading industry and financial investors. Crédit Mutuel Equity took part in this funding round, to support this French tech flagship.

Devialet was founded in 2007 by three people with complementary skills: engineer Pierre-Emmanuel Calmel, entrepreneur Quentin Sannié and designer Emmanuel Nardin. In the space of a few years, it has become the new benchmark for audio equipment with its high-end amplifiers and especially its Phantom connected speakers. With its 107 patents and 61 international awards, Devialet - a French start-up that is doubling its revenue every year - is planning to keep up its excellent momentum. With these new funds, the company intends to continue its development across five continents and apply its technology to related markets such as cars, televisions and connected objects.

"Devialet's technologies are revolutionising the listening experience. They can be embedded in any type of audio device to provide an unrivalled combination of power and emotion. Crédit Mutuel Equity (formerly CM-CIC Investissement) is very proud to be investing in this fast-growing tech start-up", said Caroline Giral, Principal at Crédit Mutuel Equity.

The following industrial and financial investors took part in the funding round: Ginko/Foxconn (lead investor), Korelya Capital/Naver, Crédit Mutuel Equity, FFC (Qatar Investment Authority/CDC), BPI France, Renault, Sharp, Playground Global and Roc Nation.
Devialet's Board of Directors is being strengthened with the arrival of Fleur Pellerin (Korelya Capital) and Jean-François Baril (Ginko) as full directors, along with Caroline Giral (Crédit Mutuel Equity) and Marc Auberger (FFC) as non-voting directors.

"We are very interested in technology companies and we have good knowledge about the audio market, having made several investments in audio and speaker companies in the past. So Crédit Mutuel Equity is pleased to be giving long-term support to a company that has developed a genuinely disruptive technology in its market and has the ability to become a world leader," explained Alain Benisty, Managing Director at Crédit Mutuel Equity.

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