NICTA spin-out Audinate secures $AUD4 million in additional funding

NICTA, Australia’s Information and Communications Technology (ICT) Research Centre of Excellence, congratulates its first spin-out company Audinate, a leading developer of digital media networking solutions, for securing $AUD4 million in additional funding.

The latest round of funding was led by existing investors, Starfish Ventures and Innovation Capital.

“NICTA congratulates Audinate on its market success since it spun out of NICTA in 2006 and thanks Starfish Ventures and Innovation Capital for their continued support of NICTA and Audinate,” NICTA Commercialisation Director Rob Fitzpatrick said.

Audinate produces TCP/IP-based Dante™ networking technology which provides a high performance media transport that is tightly synchronised, with sub-millisecond latency. The technology reduces cost by eliminating the need for expensive, bulky copper analogue wires. One Cat-5 Ethernet cable can replace 500 analogue connectors thereby eliminating massive amounts of cabling from large installations. Devices and channels are automatically discovered and easy to program.

Audinate’s solution has been widely adopted by the leaders of the A/V industry. Audinate has developed alliances with major OEM partners including Bosch, Yamaha, Peavey, Dolby and Lab.gruppen.

Audinate’s media release announcing the new funding can be viewed at http://www.audinate.com/.

About NICTA

National ICT Australia Ltd (NICTA), Australia’s Information and Communications Technology (ICT) Research Centre of Excellence, is developing technologies which will meet the current and future needs of the community in fields which will lead to large economic, social and environmental benefits for Australia. NICTA has five laboratories around the country. Since NICTA was founded in 2002, it has created four new companies, developed a substantial technology portfolio of patent applications and continues to supply new talent to the ICT industry through the NICTA-enhanced PhD program.

NICTA is funded by the Australian Government as represented by the Department of Broadband, Communications and the Digital Economy and the Australian Research Council through the ICT Centre of Excellence program. In addition to federal funding NICTA is also funded and supported by the Australian Capital Territory, New South Wales, Queensland and Victorian Governments, The Australian National University, Griffith University, University of Melbourne, University of New South Wales, University of Queensland, Queensland University of Technology and The University of Sydney.

About Audinate

Audinate revolutionises the way that AV systems are connected by transporting high quality media over standard IT networks. Using Audinate's patent pending networking solution, digital media networking just got easy. Audinate’s solution has been licensed by customers across the AV industry and can be found in installations, live sound, recording and broadcast applications globally. Audinate offices are located in the United States and Australia. Visit www.audinate.com for the latest news and information on the company.

About Starfish Ventures

Established in 2001, Starfish Ventures is a venture capital fund manager seeking superior returns through active investment in innovative technology companies. Starfish Ventures has $400 million in funds under management and has made investments in over 35 companies to date. Starfish Ventures seeks investments in emerging businesses across all technologies sectors, including information and communications technology, biotechnology and life sciences, industrial technology, and cleantech. For more information, visit www.starfishvc.com.

About Innovation Capitall

Innovation Capital is a leading Australian venture capitalist with $100m under management. Innovation Capital invests in early to mid stage, companies that have the potential to become worldwide leaders in their industry. It provides finance and commercial expertise to assist Australian entrepreneurs build world class technology companies. Innovation Capital has offices in Australia and the United States. For more information, visit www.innovationcapital.net.

For further information:

Dorothy Kennedy

Communications Specialist, NICTA

Ph: 02 9376 2098 or 0488 229 687