Mimi Hearing Technologies Becomes the World’s Largest Platform for Hearing Wellbeing.
Berlin-based Mimi Hearing Technologies Closes $25 million Series B Funding to Become the World’s Largest Platform for Hearing Wellbeing.
Funding round led by progressive German deep-tech investors MIG Capital and a larger Munich-based family office, joined by existing shareholders as Mimi continues to bridge the gap between hearing wellbeing and audio consumption.
New funds will support the expansion of Mimi’s technology platform as well as marketing and sales operations in the US and Asia.
BERLIN, Dec. 15, 2021 – Mimi Hearing Technologies, the global leader in hearing wellbeing and audio personalization software, today announced the closing of $25 million in Series B funding. The funding round is led by MIG Capital in a consortium with a larger Munich-based family office and Salvia, the family office of Helmut Jeggle, along with additional German family offices and existing shareholders.
Mimi licenses their science-based hearing enhancement technology to B2B customers including electronic device manufacturers, streaming providers, and hearing aid companies. The additional funding significantly enhances their successful and ongoing efforts to deliver better and healthier hearing experiences to millions of people worldwide.
“The leading investors of our Series B garnered international attention last year as the founding investors in BioNTech, the NASDAQ listed German biotech company that, together with Pfizer, developed the first Covid-19 vaccine and is now valued at approximately $70 billion,” noted Mimi CFO Moritz Bratzke. “Their investment in Mimi is another testament not only to the depth and breadth of the German venture capital climate, but also to the importance and tremendous commercial potential of Mimi’s vision.”
The funds will allow Mimi to considerably increase its product offerings in established device categories like headphones and TV displays, as well as extend into new signal processing and audio platforms like smartphones. Mimi’s CES award-winning audio personalization technology is currently embedded in a number of customer products, including Skullcandy headphones, the global #1 selling brand in stereo headphones and wireless earbuds under $100, and German premium-audio brand Beyerdynamic, as well as TPV Philips TV products, to name a few.
The Series B fundraising follows the announcement of new relationships with San Diego-based Cleer Audio and Shenzhen Rillya, a Chinese smartphone OEM.
“We are excited to support Mimi in achieving its ambition to build a disruptive hearing health platform, particularly given their track record of attracting great customers for their software business in multiple categories,” said Boris Bernstein, Partner, MIG Capital. “Mimi’s unique and protected IP not only personalizes sound sensation but also makes a major contribution to understanding and protecting hearing.”
The Series B funding enables the expansion of sales and marketing activities in China and the United States, which combined are home to many of the largest consumer electronics manufacturers and content suppliers.
“As a former board member of Sivantos (ex Siemens Audiology Solutions), I gained appreciation for the huge need in the audiology space and thus the demand for innovative products,” said Helmut Jeggle, founder and managing partner at Salvia. “Mimi’s technology and expansion plans have positioned the company to become an international standard-bearer for hearing wellbeing and sound personalization, and we are excited to help them achieve that vision.”
About Mimi Hearing Technologies|:
Founded in 2014 in Berlin by Philipp Skribanowitz (CEO) and Dr. Nicholas Clark (Chief Scientist), Mimi Hearing Technologies is a world-leading software provider of digital hearing. It develops digital hearing tests and hearing-ability-based sound personalization technology. Mimi’s in-house team of hearing scientists developed its biologically inspired and proprietary audio processing technology, that learns how well a user hears, in order to optimize their listening experience. Backed by years of scientific research and a global IP portfolio with +75 patents and a database of ~2 million hearing tests, Mimi aims to give users the best possible listening experience by tailoring audio signals across any electronic audio device to the user’s individual hearing ability.