Flexound Systems Oy
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Flexound Systems Oy - overview
Established
2013
Location
Espoo, -, Finland
Primary Industry
Consumer Products
About
Flexound Systems Oy develops innovative audio technology that enhances listening experiences through its FLEXOUND Augmented Audio™. The company provides immersive sound solutions for various applications, including automotive and entertainment sectors. Founded in 2013 and headquartered in Espoo, Finland, Flexound Systems Oy specializes in audio technology solutions. The company has conducted two funding deals, with the most recent funding occurring on June 5, 2019, when it raised EUR 0.
90 mn from NordicNinja VC. Isak Olevic serves as the CEO. Flexound Systems Oy specializes in innovative audio technology that enhances the listening experience through its core product, FLEXOUND Augmented Audio™. This technology is designed to provide full-range audio, allowing users to feel sound through natural vibrations, thereby creating an immersive personal sound sphere with minimal sound leakage.
The company’s offerings are applicable across various sectors, including automotive, seated entertainment, and home devices, with targeted use cases like enhancing sound clarity in movies, gaming, and streaming. FLEXOUND's technology was initially developed to support autistic children and has since expanded to serve a broader client base, including consumers and businesses in markets such as Europe, North America, and Asia. The products are engineered for versatility, fitting seamlessly into various environments such as cars, cinemas, and gaming furniture, thereby addressing the demand for enhanced audio experiences. Flexound Systems Oy reported a revenue of EUR 30,303,816.
80 for the year 2023, with an EBITDA of EUR -1,897,604. 70. The company generates revenue through direct sales and partnerships, primarily employing a B2B model that supplies its patented audio technology to partners who integrate it into their products, such as automotive seating and home entertainment systems. Flexound Systems Oy aims to expand its product portfolio with new offerings designed for diverse markets, targeting the release of upcoming products by the end of 2024.
The company plans to penetrate new geographic markets, specifically aiming at increased sales in North America and Asia by mid-2025. The funding raised in June 2019 will be utilized to support product development and market expansion efforts.
Current Investors
NordicNinja VC
Primary Industry
Consumer Products
Sub Industries
Consumer Electronics
Website
www.flexound.com
Company Stage
Early Stage
Total Amount Raised
Subscriber access only
Flexound Systems Oy - timeline of key events
Flexound Systems Oy - financials
| Fiscal Year Ended | Aug 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 33,313.7 | 159,564.9 | 199,525.6 | 244,723.6 | 465,121.2 | 220,705.3 | - | - | - |
| % Revenue Growth (YoY) | - | - | - | 22.7% | 90.1% | (52.5%) | - | - | - |
| EBITDA (USD) | (22,877.8) | (592,821.8) | (925,820.8) | (740,742.1) | (527,009.1) | (586,734.9) | - | - | - |
| Operating Income (USD) | (32,287.4) | (637,052.5) | (993,815.5) | (845,984.1) | (701,894.7) | (790,234.2) | - | - | - |
| Operating Margin | (96.9%) | (399.2%) | (498.1%) | (345.7%) | (150.9%) | (358.0%) | - | - | - |
| % EBITDA Margin | (68.7%) | (371.5%) | (464.0%) | (302.7%) | (113.3%) | (265.8%) | - | - | - |
| NET Income (USD) | (39,054) | (646,236.3) | (1,012,082.5) | (875,876.6) | (730,800.8) | (813,303.8) | - | - | - |
| % Net Margin | (117.2%) | (405.0%) | (507.2%) | (357.9%) | (157.1%) | (368.5%) | - | - | - |
Flexound Systems Oy - employee data
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