Ahead of its market launch, TYXIT has reported its first success with its proprietary ultra-low latency and HD audio communication platform – performers at two of the world's most iconic jazz festivals using the beta-phase solution to jam synchronously before their live audience. Privilege Ventures, supported by other investors, led the seed round.
Alongside Privilege Ventures, TYXIT also attracted co-investments from ACE & Company and existing shareholders including the Business Angels Switzerland (BAS) and some key selected individuals. This seed investment round puts TYXIT in a strong position to launch its solution, which is poised to transform the streaming market.
The EPFL spinoff is bringing streaming to the next level through ultra-low-latency proprietary algorithms and wireless technology, enabling musicians to connect, communicate and play remotely with high audio quality, as if they were in the same room. Although the company’s desktop app is currently in the Beta phase, it has already gained traction.
Last July, TYXIT enabled pro musicians from two of the world's most iconic jazz festivals – the Montreux Jazz Festival and the Jazz à Vienne Festival – to jam synchronously before their live audience, as if they were on the same stage. According to the startup, this was a massive challenge and achievement: a single concert with musicians of a band split between the two festivals' stages, in two countries, with two network operators and over a standard home-style internet connection (video). This event has set TYXIT’s technology leadership in latency and audio quality communication.
Beyond the music industry
Applications for TYXIT’s solution are broad. The startup has reported having growing market traction from the esports and gaming sector, from professional esports teams to casual gamers, all seeking a solution to communicate faster among themselves, with higher audio quality, when playing in teams. The company is now partnering with some of the key actors in this ecosystem, and thanks to the financing round, it will open its solution to this specific market, through its new gamer-focused brand: SONIX. The startup is also planning to bring its solution to the metaverse.
Lucian Wagner, Founding General Partner of Privilège Ventures SA noted that: “Latency reduction is a major factor for many internet applications, not just in music and gaming, but also video conferencing and future AR and VR experiences. Investing in a company that works on the “plumbing” of such improvements within the depths of the internet protocol stack is natural for a VC such as Privilège Ventures.”
ACE & Company commented “We believe that TYXIT’s technology can have attractive use cases in significant markets where audio ultra-low latency is critical. The company is uniquely positioned to take advantage of the rise of immersive virtual experiences”.
(Press release/RAN)
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