Investment by Forward.One, Exeger, Music Producer and DJ Martin Garrix, and Industry Advisors Takes Funding in Mayht to Nearly $10 million
Swedish solar cell company Exeger, venture capital firm Forward.One and world-renowned music producer and DJ Martin Garrix, have led the latest funding round in disruptive Dutch audio-tech start-up, Mayht. The Series A follow-on round takes investment in the firm to nearly USD$10 million so far.
Mayht’s Heartmotion technology has totally reinvented how the insides of speakers work, for the first time in 100-years, allowing consumer electronic companies and speaker manufacturers to shrink the size of their products, while still offering immersive, high-quality, loudspeaker level sound.
Founded in 2016, by brothers Mattias and Timothy Scheek, Mayht (pronounced “Might”), is targeting an addressable $375 billion consumer electronics and automotive speaker market through technology licensing.
By redesigning the core workings of the speaker, Mayht’s Heartmotion technology allows consumer electronics and speaker manufacturers to create new products that are up to ten times more compact, flatter and lightweight without any compromise to sound quality, range or output.
This means consumers will soon be able to experience home cinema theater bass from a single soundbar without the need for a separate subwoofer, portable bluetooth speakers as powerful as large party speakers, and receive floor standing speaker sound quality from their WiFi speakers and home voice assistants.
The Mayht management team is engaged in conversations with global tech giants, consumer electronics brands, speaker and car manufacturers, to showcase how its technology will revolutionise the home entertainment, portable device, voice assistant, soundbar and automotive markets.
Mayht Chief Executive, Mattias Scheek says: “While consumer electronics have grown more powerful and compact in recent years, the core speaker technology within has hardly evolved. I truly believe our Heartmotion speaker technology is the revolution the industry has been dreaming of, but never thought possible. They will finally be able to create the sound experiences people want from everyday consumer electronics and automotive audio systems.”
“Until now, only those with big enough homes and the money to afford it could enjoy high-quality, immersive in-home sound experiences,” says Scheek. “Our vision is to make Heartmotion the new industry standard for speaker driver technology, making the best sound quality accessible to the masses.”
“This new injection of funding will help us turn the market on its head, allowing us to commercialise and license out our Heartmotion technology on a global stage. We’re looking forward to bringing until now unimaginable, high quality, full-range sound experiences including full bass spectrum to the most compact speaker devices.”
As Mayht’s Heartmotion speaker driver technology is highly compact and self-balancing, consumer electronics, and car manufacturers, no longer need to design audio products constrained by conventional speakers. This means they can create much smaller products and achieve both environmental and cost savings, through significant reductions in materials, manufacturing, packaging, shipping and retailing. Speakers that use the Heartmotion technology platform can also offer consumers important reductions in energy consumption, as they will require less power than comparable same size audio devices currently on the market.
Exeger’s patented solar cell material, Powerfoyle, converts all forms of indoor and outdoor light into clean, endless energy. It can be seamlessly integrated into all consumer products that benefit from being self-powered and its superior design properties make it uniquely well suited for the consumer electronics space. Earlier this year, Exeger launched the world’s first self-powered headphones.
Self-powered speakers are a natural next step when it comes to bringing extraordinary sound to people in an easy to use and environmentally friendly way. Mayht’s technology (and its efficient use of energy) coupled with Powerfoyle, will open a completely new segment: self-powered speakers with infinite playtime.
Exeger founder and chief executive, Giovanni Fili, says: “Exeger launched Powerfoyle earlier this year in self-powered headphones by Urbanista with infinite listening. The market response was extraordinary, and many are predicting that Powerfoyle, just like Bluetooth, will become a new standard for wireless headphones.
“Now, together with Mayht, we are going to set another standard, this time in the speaker market with an endless listening experience from amazing sounding speakers. Mayht and Exeger are two of the most innovative tech companies in Europe and I’m incredible excited about the strong alliance that we’re forging.”
Speaking about why he’s invested in Mayht, Martijn Garritsen, professionally known as Music Producer and DJ Martin Garrix, says: “Hearing Mayht’s technology in action, I strongly believe this is a company that can change the audio industry. My love for music and great sound is at the forefront of this innovation, which is exactly why I’m excited to be investing in the future of such a young and innovative Dutch tech start-up.
Alongside Exeger, Forward.One and Martin Garrix, Mayht’s advisory and operational board has also invested as part of the funding round. The board brings together decades of senior management, audio engineering and product innovation expertise from working at diverse international audio product manufacturers.
Mayht and Exeger will be showcasing their technologies at the Consumer Electronics Show (CES) in Las Vegas from 3rd-9th January 2022.