Seed investment deal for audio software firm
Film and game audio software company Krotos, whose credits include Stranger Things and Avengers, has received a seven-figure seed investment from Greece-based Metavallon VC.
Edinburgh-based Krotos produces software that empowers content creators to design sound faster by turning traditional slow processes into a real time performance.
The latest investment follows earlier funding from the University of Edinburgh’s Old College Capital fund, as well as strategic angel investors such as Ian Ritchie, who specialises in the information technology sector, and the video game producer Leslie Benzies, former president of Rockstar North and producer of the Grand Theft Auto series.
Founded in 2013 by Orfeas Boteas, Krotos’s software tools allow audio professionals to perform and customise sound easily, saving hours of editing time and opening up new opportunities in audio creation by allowing them to focus on creativity.
The current product lineup includes tools that help design, automate and perform complex sound effects in seconds. Examples include sci-fi sound effects, whooshes and transitions, vehicle sounds, real and Sci-Fi weapons, as well as effects relating to animals and food. Krotos also supports creature vocalisation, dialogue processing and vocal processing.
Krotos’s software has become industry-standard in film post-production and game audio, with credits on an ever-expanding list of major Hollywood and high-profile high-budget AAA game titles which also include Game of Thrones, The Lion King, Captain Marvel and Star Trek.
The company targets the video and audio editing software market which is expected to be worth $6 billion by 2024. The company already has five product lines and around 100 add-ons that are being used by thousands of audio professionals and music producers in 65 countries.
The new funding will reinforce the team, accelerate commercialisation and ensure the deployment of new pilots with partners and clients.
Founder Orfeas Boteas said: “We are super excited to work with George and the Metavallon team to realise our vision and take Krotos to the next level. This will allow us to significantly expand our product offering and allow more creatives to make the entertainment world sound awesome.”
George Karantonis, partner at Metavallon VC, said: “We believe that Krotos already has a proven solution and an impressive clientele worldwide and with the funds of the round will set course to become the leading technology provider to the millions of content creators out there.
“As a result, we expect exponential growth of sales. We are also happy because Orfeas has clear plans to base a significant part of future activities in Greece.”
Krotos has 15 members of staff and expects this to rise to 25 shortly as it is currently hiring for technical, sales support, operations and finance positions.