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Devialet raises €100m for further development and expansion

Devialet is perhaps best known for its iconic Phantom speaker, which has been making waves in the audio market for some time.

Now it is to expand its technological expertise into other areas, including the automotive, television and internet of things (IoT) sectors.

The money has been put up by Ginko Ventures in collaboration with other investors including Foxconn, Sharp, Renault, Roc Nation (founded by Jay-Z), CM-CIC Investissement and Bpifrance.

“This fundraising marks a new stage in our incredible development towards being a global tech company and leader in our industry,” says Quentin Sannié, co-founder and CEO of Devialet.

Devialet will use the new funding to focus on three areas of development: investment in R&D; expansion of its flagship retail stores beyond the current ones in Paris, London and New York; and more technology partnerships in the motoring, TV and IoT industries.

MORE: See all our Devialet reviews

Andy Clough

Andy is Global Brand Director of What Hi-Fi? and has been a technology journalist for 30 years. During that time he has covered everything from VHS and Betamax, MiniDisc and DCC to CDi, Laserdisc and 3D TV, and any number of other formats that have come and gone. He loves nothing better than a good old format war. Andy edited several hi-fi and home cinema magazines before relaunching whathifi.com in 2008 and helping turn it into the global success it is today. When not listening to music or watching TV, he spends far too much of his time reading about cars he can't afford to buy.