Dirac Research announced a SEK 150 million new fundraising round from TIN Fonder and DIG Investment.

Dirac Research, an Uppsala, Sweden-based provider of digital audio solutions, announced completing a SEK 150M ($17.7M) capital funding round.

The money was raised from investors including TIN Fonder and existing shareholder from DIG Investment. The company says the deal values the company at SEK 1.2bn ($140 million).

The proceeds will be used to develop its next-generation of digital audio solutions, across automotive, headphones, mobile, AR/ VR, streaming, that will further solidify the company as a leader in an audio industry that’s now being driven by software innovation rather than hardware.

Dirac, founded in 2001 and led by Peter Friedrichsen, developed amobile technology and application that automatically enhances the audio performance of any connected headphone to reveal even the most subtle beats, tones and sounds that are typically lost. Customers include Onkyo, Pioneer, Philips, Hyundai, Volvo, Polestar, BYD, Klipsch, and ASUS, while the sales channels are both directly with semiconductor and middleware companies – like NXP, Analog Devices (ADI), and CRI Middleware – to integrate Dirac audio directly into chipsets and platforms.

Dirac previously raised $6 million in 2020 out of a total of more than $30.