VC backing helps team strike out as independent business; hopes to make tech 'ubiquitous standard'
amBX, the ambient technology arm of electronics giant Philips, has been spun out as an independent company.
The move was made possible with the backing of Prime Technology Ventures, a Netherlands-based pan-European venture capital firm. It will now be able to license the amBX technology to other hardware manufacturers, although Philips will remain a licensee as well as a limited partner with PTV.
The new company will now also focus on a new amBX SDK and partner programme as part of its aim to make amBX a 'ubiquitous standard in entertainment media and hardware'.
“amBX was originally conceived within Philips who have a heritage of creating innovative and ground-breaking technologies,” said Neil MacDonald, CEO of amBX.
“We’re now ready to take amBX to the next level and our successful spin-out as an independent company will allow us to drive amBX as an essential platform for not only PC, but for console gaming entertainment, home theatre, music and even larger, bespoke installations in large scale entertainment venues.”
Sake Bosch, founder and managing partner of PTV, added: “We believe this business has great potential and matches our sector experience and expertise. Above all, the strategy and ambition of amBX is in line with our strategy to invest in high growth companies which have the potential to achieve international dominance.”