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Months after the first shipping of its ‘reimagined’ walkie-talkie device, communications startup Loose Cannon Systems has raised A$12 million in a Series A.
US De Novo Ventures led the $12 million Series A with the support of the HCF health fund-backed local VC XT Ventures which invests in tech firms in the sport, fitness, health, and wellness sectors
Australian national Peter Celinksi, a former CTO at Denon & Marantz, founded Loose Cannon Systems. Prior to that, he founded Avega Systems, which Altec Lansing acquired in 2010.
On a family ski trip, he wanted to keep in touch with his children but discovered that phones and walkie-talkies weren’t up to the task. This led to development of his product Milo, a radio communications device.
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Before the business launched Milo in October 2020, a team of engineers from the fields of software, networking, hardware, acoustics, and mechanical worked on the technology underlying it for more than three years.
Through a Kickstarter campaign, 5,700 customers purchased 17,000 of the devices, raising US$2.5 million.
Covid supply chain problems postponed the product’s distribution until November of last year, and the latest run has already sold out. The Silicon Valley-based startup had originally planned to ship in 2021.
The Milo sells for US$498 per two-pack at retail. It may be utilised in a network of up to six persons across a distance of up to 600 metres and is waterproof.
It uses audio signal processing algorithms and six high-performance digital microphones to cancel out wind and other background disturbances.
It can pair with a Bluetooth headset or be plugged in with a cable headset, and it can send notifications if the user is about to leave range. Over unlicensed wireless airwaves, conversations are secure and private.
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Jaw de Guzman is the content producer for Comms Room, a knowledge platform and website aimed at assisting the communications industry and its professionals.
