Nomono raises €5.4 million in late seed round
Nomono, a Trondheim-based audio technology startup spun out from SINTEF Digital in 2019, has completed their latest funding round, securing an additional NOK 55 Million (€5.4M, $6.4M USD) to fuel their research, development, and growth, after setting out to raise just NOK 35 Million (€3.4M, $4M USD) in this round.
“This is a strong vote of confidence from the investment community that the work we’re doing is important and revolutionary. Our team has built some incredible tools that are already finding traction with our beta customers, and we’re excited to have the runway to continue our work in simplifying the podcast production process while raising the bar on sound quality for all types of audio storytelling.”
— Jonas Rinde, CEO
Nomono is building hardware and software that makes it easier for professional podcasters, journalists, and audio storytellers to create great sounding immersive audio experiences, and leverages the latest innovations in Spatial Audio that have recently become available through technologies like Dolby Atmos and Fraunhofer’s MPEG-H.
This extends the initial seed round investment of NOK 25.5 Million (€2.4M, $2.9M USD) closed in September of 2020 led by SINTEF Venture and Spintop Ventures (their first Norwegian investment). This round welcomes a number of new investors including Tvenge og Adolfsen.
The Nomono team has more than doubled in size in the past year, and now has employees based in Trondheim, Oslo, Sweden, and New York. At the same time, the podcast landscape continues to grow exponentially, with a more than 280% increase in the creation of new podcasts in 2020, from 300,000 new podcasts in 2019 to almost 900,000 in 2020.
“All these podcasters are working through cumbersome workflows that make field recording and collaboration difficult, often at the expense of creativity and audio quality. We’re excited to remove some of these roadblocks so they can focus on the conversations with their guests and colleagues, and to make it possible to bring their listeners right inside the conversation through Spatial Audio technology.”
— Jonas Rinde, CEO
Nomono’s expertise in Spatial Audio has also become even more valuable given recent announcements from companies like Apple and Netflix around Spatial Audio and podcasting, setting the stage for podcasters to bring immersive audio storytelling to their audiences. Spatial Audio technologies are being implemented for listeners in headphones, smart speakers, soundbars, mobile devices and cars, but the process of creating Spatial Audio requires specialized equipment and expertise that often puts it out-of-reach for the traditional podcaster or journalist. Nomono’s technology removes this bottleneck, giving audio storytellers access to this powerful new medium in a simple, accessible way.