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Audux Limited, a newly established company, has secured over £255,000 investment to launch the very latest in simple to use high quality video broadcasting technology. The product suite known as ‘POBIT’ was developed by technologists Claus Estrup Vesterskov and Thomas Sondrup, it enables a venue, an artist or production company to produce state of the art, broadcast quality video content without the expense of a full outside broadcast unit.
Dennis Wright, Audux’s Chairman and technology entrepreneur, said: “I’m firmly of the opinion that the POBIT is game changing. It will enable venues such as the smaller theatres and any artist to broadcast their play, opera performance or music concert to a large audience over the internet. We’re not talking inferior streaming here, we’re talking about a high quality production direct to paying audiences via their PC, tablet or smartphone. The theatre or artist controls the content, and who has access, so there’s a significant increase in copyright protection.”
Midven is a leading venture capital fund manager that provides investment for small, high-growth businesses across a range of sectors in the West Midlands. Through its Early Advantage fund, Midven has invested around £125,000 in Audux; this alongside private investors.
Midven Investment Director Gio Finocchio said: “I was attracted to the business because of the list of prospects who are keen to sign up. I too, like all the prospects was blown away by the quality of the transmission, I thought you can only get this level of quality using a large and expensive costing production crew; I was surprised that all that is needed is a good video camera and a POBIT which only costs a few thousand pounds. Theatres and artists can now reach a far greater audience simultaneously to playing live, increasing their revenue opportunities – everybody wins.”
Audux was the brain child of ClausEstrupVesterskov, a professional musician. He wanted to provide the best possible sound quality in broadcast music and to increase the revenue from live performances for professional musicians. He teamed up with Thomas Sondrup, a broadcast engineer with many years of experience in audio visual and internet applications. Thomas had developed a device (software and hardware) for compressing audio and transmitting it over the internet to smartphones.In turn, they teamed up Dennis Wright to commercialise the technology and form Audux (the company).
Midven is the leading Midlands-based provider of venture capital funding to early-stage and established businesses. The Birmingham-based venture capital firm currently manages five funds representing a total of £76m under management. Midven’s £10m Early Advantage fundprovides investment for small, high growth businesses at start-up and early-stage in the West Midlands.
Midven was established in 1990 and has grown significantly since the existing management team took ownership of the business in 2007. The Midven team has established a reputation for delivering solid commercial experience and creative business solutions to help their portfolio companies achieve exceptional outcomes. For more information, please visit www.midven.co.uk.
Thomas Sondrup, Audux technology head, holding the original POBIT, with Dennis Wright, CEO, and Claus Estrup Vesterskov, Audux founder.