Soundboks to raise $8.4M from Jägermeister, Heartcore and Vækstfonden
Soundboks, a Copenhagen, Denmark-based manufacturer of soundspeakers, announced that it completed a DKK 52M ($8.4M) capital investemnt round.
The money was provided by the Danish venture company Heartcore and the Danish Growth Fund - Vækstfonden - as well as via a strategic investment contribution made by Jägermeister through their venture arm, M-Venture.
The money will be used for marketing and sales, and enhancing the scale and the scope of the product development.
Soundboks, founded in 2015 by Christoffer Nyvold, Hjalte Emilio Wieth and CEO Jesper Theil Thomsen, is a consumer electronics company that designs and manufactures hardware, namely portable sound systems and speakers for outdoor and mobile usages such as for festival seasons and beaches, enabling users to carry their own sound system wherever they go. The company, which is co-located in Copenhagen and Los Angeles, had a 47% growth in 2019 and continued strong growth throughout the first half of 2020.
Soundboks is an Y Combinator alumni (2016) and raised $3 million in equity in 2017 and $2.3M in debt in 2019.