£300k injection is music to Simple Audio ears

Glasgow-based Simple Audio claims it can exploit a gap in the market by providing "next generation" high quality digital music to the marketplace at an affordable price.

Demand for systems capable of distributing and reproducing digital audio has been stimulated by the rise in music sharing, through online and mobile music destinations such as iTunes, Napster and Last FM.

As such rapid growth in music downloads and home networking continues, sales of networked audio systems are predicted to rise to 4.5 billion by 2012 from around 63 million in 2005.

However, Simple Audio chief executive Peter Murphy said such high-end integrated audio solutions tend to be both complicated and expensive to install in the home.

"In comparison, our high speed and quality hand-held control touch screen system is simple and can be played in any room."

Murphy and his colleagues say they have addressed installation issues by creating a system that sends audio over existing mains cables.

This allows for a simple plug-and-play system wherever there is a wall socket and music data is instantly displayed on any connected computer and the user can add as many music libraries they wish.

Par Equity's managing director, Paul Atkinson, confirmed the fresh investment in Simple Audio and said its founders are using a long-standing network of relationships with product designers, suppliers and retailers.

"They self-funded the design, pre-production prototypes and marketing activities and have now signed agreements with a number of international distributors and the first product is in the final stages of testing," he said.

The latest funding round follows a first-time investment totalling 305,000 in July 2010 jointly by Par Equity and Scottish Enterprise. Simple Audio's projected turnover is 7m within two years.