Text-to-speech AI startup AudioStack has announced a multimillion-dollar pre-Series A. Photo Credit: Markus Winkler
AI-powered startup AudioStack, which says it’s working “to revolutionize large scale audio production for enterprises,” has announced a more than $3 million pre-Series A.
London-based AudioStack reached out with word of the funding round, which was led by Quadri Ventures and specifically brought in £2.5 million ($3.14 million at the present exchange rate). According to its own description, Quadri, also headquartered in London, aims to back startups “that seek to leverage the cloud as a strategic growth component.”
AudioStack, on the other hand, was formerly known as Aflorithmic.ai and is said to have developed products capable of scaling “audio production without sacrificing quality.” According to execs – the startup was founded by Autopsy technical adviser Timo Kunz (who also serves as CEO), longtime data scientist Peadar Coyle, and marketing professional Björn Ühss – the platform handles voice cloning, AI speech, and more.
Meanwhile, a cursory glance at the appropriate website indicates that the startup offers several text-to-audio products, chief among them a collection of resources geared towards the marketing space. At present, the business’s displayed “clients & partners” include iHeartRadio (an early AI adopter), Japan’s Dentsu, and different high-profile entities.
Addressing his company’s pre-Series A, Timo Kunz relayed that the involved capital will fuel continued international expansion initiatives.
“This funding round will enable us to continue our global growth and double down on the business cases that are working so well: we have been helping our customers realise enormous savings throughout their creative processes while enabling them to massively scale the output of their production to levels they never dreamed of, allowing us to supercharge creativity,” communicated Kunz.
Other AudioStack backers include Stride.VC founder Fred Destin and former AdsWizz CEO Alexis van de Wyer, who doubles as a board member. “I know from experience that large brands and agencies are crying out for a solution to the problems that hold back audio production,” van de Wyer added of the pre-Series A.
Last month, a study suggested that music AI had already emerged as a $300 million industry as of 2023 – with the potential to top $3 billion by 2028. Additionally, the European Union’s much-publicized AI Act late last week inched closer to reality, with the likes of the IFPI and CISAC responding positively to the development.
Stateside, a number of industry players and artists are rallying behind the comparatively concise No AI Fraud Act, which the ACLU opposed in a letter to lawmakers at the top of the month.