After an initial $4.8 million investment, we secured another $1.9 million in Series A fundings by the Austrian Research Promotion Agency (FFG). The funds will fuel development of a special software that transforms digital audio files into a 3D topography which can be engraved with laser on a ceramic stamper. Also two scientists will join our R&D department and collaborate with industry partners in developing HD Vinyl molds for pressing machines.
“This second round of financing proves that HD Vinyl is a viable and marketable product” says Guenter Loibl, CEO of Rebeat. “Our plan is to launch the first HD Vinyl records in the second half of 2019. Now we have the financial means to continue our path. Team and infrastructure are ready and we secured collaborations with industry partners. Details will be announced in October at the Making Vinyl in Detroit. We are right on track.”
The Austrian Research Promotion Agency (FFG) is the national funding agency for industrial research and development in Austria. As a “one-stop shop” offering a diversified and targeted programme portfolio, the FFG gives Austrian businesses and research facilities quick and uncomplicated access to research funding.