A London tech firm which claims to have created a method for ‘reinventing’ MP3s has raised £2.4m.
IRIS, which was founded by Jacobi Anstruther-Gough-Calthorpe in 2018, uses a proprietary algorithm to equalise existing music from streaming services giving the effect of higher definition recordings.
The technology is currently available as an iPhone app, with an Android version in development. The firm is also in the process of manufacturing its own brand of headphones, which will have the algorithmic technology built in.
Queen members Roger Taylor and Brian May are among investors in the firm, which is now the Official Audio Partner of Aston Martin Red Bull Racing.
The firm plans to use the new investment to test the effects of its ‘Active Listening’ technology on the brain.
“We were immediately inspired by the significance of what Jacobi and the IRIS team have accomplished,” said Jim Selby, COO of Concord. “Our diverse catalogue of recordings, new and old, from classical to metal, will be given a new life because of this technology”.
IRIS Founder & CEO, Jacobi Anstruther said: “This new wave of funding for IRIS illustrates that the appetite to support British business and innovative startups is still present despite the current climate.”