14 Jun RIVA Raises Over $10M In Additional Funding
Additional investments, from Wistron Corp., the KYET group and others illustrates the tech sectors commitment and confidence in RIVA.
Funding allows RIVA to grow consumer awareness and advance the company’s philosophy on how to innovate new audio products for consumers.
Fountain Valley, CA – June 14, 2015: Audio manufacturer RIVA, the lifestyle brand of Audio Design Experts, Inc. (ADX) recognized for its best-in-class audio products, raised over $10m in their latest round of funding. A large portion of the investment comes from world-renowned Wistron Corporation, with another portion coming from Eastern Asia Technology (HK) Limited, a KYET group company. The roster of investors demonstrates the tech community’s endorsement of the company. With this round of financing, RIVA’s total capital raised is just over $17M. David Shen, (President of Wistron Consumer & Smart Products Business Group) stated he was “dutifully impressed with RIVA’s ability to develop and launch such a world-class audio product in such a short time.” He went on to note that “the company’s ability to generate incredible market recognition” further cemented Wistron’s willingness for investment. He cited the many glowing reviews of the Turbo X from places like Mashable, Sound & Vision, and Yahoo! Tech, as evidence of the brand’s impact on the market. This investment builds on the strong momentum and great reviews generated by the launch of the RIVA Turbo X Bluetooth speaker at CES 2015. The funds will provide the company with even greater resources to continue growing consumer awareness of the RIVA brand worldwide and to accelerate the launch of additional products that are on the company’s exciting roadmap.
“Between the quality of our product and the breadth of our investors, we have a tremendous market opportunity in front of us. The support of key strategic partners like Wistron and KYET allows us to maintain the quality of our manufacturing and increase our ability to scale up for growth. This will also help us exercise our proven philosophy about how to develop innovative audio products for consumers with new models and in new markets. Everyone involved is excited for the future of RIVA – Tony Hung, CEO of RIVA and ADX”
RIVA was born from a simple yet powerful idea: That legendary audio guru Rikki Farr (Chairman of ADX) coupled with passionate designers, patent awarded engineers, pioneering rock ‘n’ rollers and leaders from the world of commerce could create a real alternative to much of today’s over processed audio. RIVA designs award winning audio products by combining the very best components with the true art of audio tuning for people who are passionate about music and are seeking great performance, value and enhancement of their modern lifestyle. RIVA is a philosophy, a bold new standard and a defiant rejection of the idea that people can’t afford great audio and therefore must accept the bland experience of today’s tin-can wireless speakers. RIVA is headquartered in Southern California where they create and design their RIVA family of products. For more information about RIVA, please visit our social media pages:
About Audio Design Experts, Inc.
ADX is committed to re-inventing the way people think about high performance audio. Through ADX’s innovative designs, intellectual property, esteemed partners, and years of creative experience, the company is able to develop truly cutting-edge, hardware and software-based audio solutions that fit within a customer’s budget.