Aura Communications secures $11 million in funding

July 20, 2004

1 Min Read

WILMINGTON, Mass. -- Aura Communications Technology, Inc. -- the leader in magnetic communication technology for reliable, low- power wireless transmission of music, voice and data - today announced the closing of an $11 million round of funding comprised of both new funds and the conversion of all outstanding bridge loans. Creative Technology, a worldwide leader in digital entertainment products for PC users, and Entrepia Ventures led the round. Participating investors included iSherpa Capital, a venture capital firm specializing in wireless and supporting technology investments, and existing investors Duchossois Technology Partners and Motorola Ventures. Proceeds of the funding will be used to launch the Company's next generation streaming audio ASIC later this year and to build its sales and support operations in Asia.

Aura Communications has raised more than $31 million since the company's inception in 1995 to develop a commercially feasible, chip-based magnetic communication product line. Products featuring Aura Communications' voice- capable LibertyLink® technology have been profiled over the last 12 months in media as diverse as the Financial Times®, the New York Times®, US News & World Report®, EETimes®, Forbes®, the Gizmo Guy(TM) for ABC World News Now(TM), Popular Science® and a host of other publications, television shows and radio outlets. These media stories focused on the technology's disruptive nature, low-power and innovative capability for driving the next-generation of wireless products.

"Magnetic induction -- particularly Aura's upcoming stereo solution for streaming wireless audio -- appears poised to shake up the market for personal music players as well as wireless headsets," said Andrew Seybold, wireless analyst for Outlook 4Mobility. "It is a technology we are watching with great interest, particularly given Creative and Motorola's investments in the company."

Aura Communications Inc.

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