Osborne Clarke has advised Waverley Capital as lead investor in a Series B financing round at Endel Sound GmbH. Endel operates an app for AI-driven ambient soundscapes. The start-up raised a total of USD 15 million in this round.
Deeper relaxation, more well-being, better sleep, undisturbed concentration: with its app Endel, the eponymous provider promises users unique soundscapes that are supposed to improve a wide variety of everyday situations. The highlight: the ambient sounds are both personalised and context-related, which means that the app registers information such as the user's location, environment and heart rate, and uses artificial intelligence to create an optimal sound experience. To do this, the music start-up is working with artists such as James Blake, Grimes, Miguel and Richie Hawtin.
Founded in 2018, Endel now has more than 1 million monthly active users and over 1.5 million monthly listening hours. According to company information, the Series B investment is primarily intended to further develop Endel's patented technology and to shorten the time required to create soundscapes. Endel also plans to expand its collaborations with artists and start working with scientists. This is an exciting project for Waverley Capital, a venture capital firm that focuses exclusively on innovation in the media industry.
The team advising Waverley Capital, led by Rouven Siegemund (Corporate / Venture Capital), consisted of Fabian Mimberg, Robert Marx and Dana Alpar (all Corporate / Venture Capital), Dr Hendrik Schöttle, Felix Hilgert and Dr Johannes Graf Ballestrem (all Data Protection / IT / IP), Dr Sebastian Hack and Jan Marco Aatz (both Merger Control).