Feonic designs, develops and manufactures a range of invisible speaker products targeted at the retail and digital signage markets. With a strengthened management team and new strategic focus, Feonic now has a significant market opportunity to grow the business.
The Company is also extending the use of its technology to other applications such as the property and hotel markets and the energy harvesting market where its products offer attractive and well-differentiated benefits.
With over 12 years experience in this market and 175,000 units sold, Feonic has pioneered the development of invisible speaker technology for commercial use. Its proprietary and patented technology harnesses micro vibrations to turn surfaces such as windows, wall, ceilings and digital signage panels into high quality, powerful speakers.
The company’s core Whispering Window® product enables retailers and digital signage operators to deliver high quality audio advertising messages to passing shoppers directly from their store windows and signs. Use of the technology has a proven track record of increasing shopper engagement, increasing footfall and substantially increasing sales with many leading brand retails internationally.
“We saw a sales increase of over 40% in the first week” Kevin Scully, Peter Jones, London
Feonic is seeking to raise £700,000 in this EIS eligible round, at a pre-money valuation of £1.4 million. Over £320,000 of commitment has already been secured from a number of investors, including existing shareholders. VentureFounders will be supporting this round with a £380,000 raise.
Feonic has an established, mature range of products based on very well protected IP, but commercial exploitation of this value is now the focus. The products are proven to be highly attractive to the market and Feonic will use the proceeds of this fund raising to scale up sales and marketing capabilities and fund working capital requirements.
MEET THE FEONIC TEAM
Feonic’s CEO, Simon Woodward and his team will be available for a management meeting on Friday 10th July at 12:30 to answer all your investment questions. The event is being held at 83 Victoria Street, London, SW1H 0HW. Please reserve your place below. If you are unable to make the management meeting, one-on-one meetings can also be arranged.
- Company number:
- Incorporation date:
- Jun 1999
- Company type:
- Private Limited
- Registered Address:
Newlands Science Park