USM Maryland Momentum Fund Invests $500,000 in VisiSonics
The investment completes a financing round of more than $3.5 million for the University of Maryland-affiliated company developing spatial and personalized audio solutions
Baltimore, Md. (Nov. 30, 2020) – The University System of Maryland (USM) Momentum Fund has invested $500,000 in College Park-based VisiSonics Corporation, an early stage company that develops spatial audio technology and personalization software for audio playback, as well as hardware and software for audio capture and analytics, fund officials announce today.
This investment completes a financing round of $3.5 million for VisiSonics led by an audio company with ties to the music, cinema and gaming markets, according to Ramani Duraiswami, Founder and CEO of the company.
“We are thrilled to work with the Momentum Fund to help bring cutting-edge audio technology from Maryland to the rest of the world,” said Duraiswami. “Our goal is to build VisiSonics into a household name in audio, personalizing and enhancing sound for everyone. This and other investments will help us to do so.”