San Francisco's Boombotix pockets $4M in funding to develop mobile speakers
Mobile speaker maker Boombotix has raised $4 million in a new funding round, according to Digital Music News.
The new capital came from new investors Baseline, The Social + Capital Partnership, Grishin Robotics, and Great Oaks. Existing investors David Dolby and Walden Venture also participated in the funding round, the report detailed.
According to co-founder Lief Storer, the said investors want the company to focus on developing its products and improving its marketing strategy. This was based on Storer's statement to TechCrunch, the report explained.
The San Francisco-based company initially raised funding through multiple crowdfunding campaigns launched on Kickstarter. The speaker maker secured $17,000 to build a music playback app. The firm also raised $130,000 to develop its own mobile Bluetooth speaker, Digital Music News reported.
Founded in 2009, Boombotix is a company that creates and markets portable loudspeakers, iOs audio mobile apps, and mobile audio accessories. The firm's products are design for customers engaged in urban and outdoor sports such as cyclists, skiers, surfers, and skateboarders. Boombotix is currently based in San Francisco, California, according to the company's web profile.