Simple Audio aims to be global player

A START-UP audio firm founded by a group of former Linn Products executives is hoping to become a global player within months of its launch into the UK high street.

Glasgow-based Simple Audio will receive a boost from a 450,000 cash injection, to be secured by the end of this month, together with a series of international distribution deals. The new money represents the "next generation" hi-fi enterprise's third and final funding round, and means it has attracted investments totalling more than 1 million to develop its high-end but affordable integrated audio solution.

Simple Audio chief executive Peter Murphy said that as the company launches its first "plug-in-and-play" product, the latest round of financial backing should be its last equity dilution exercise.

Par Equity, the Edinburgh venture capital and advisory firm, and the Scottish Co-Investment Fund are the principle backers. Murphy said that the response to Simple Audio's audio product from retailers has been such that a projected two-year target of sales totalling 7m is now achievable within its first 12 months in business with plans to "go global" in the second half of the launch year now.

Murphy and his colleagues have developed a high speed hand-held control touchscreen system capable of being played in any room with the audio supplied over existing mains cables.