News Release: Aiwa Corporation Raises $2.7M in Funding
CHICAGO, May 31, 2018 /PRNewswire-PRWeb/ -- Aiwa Corporation has closed on $2.7M in funding, enabling the company to grow the product line and expand internationally.
Relaunching the iconic Aiwa brand in 2015, the company is distinguishing itself as a formidable player in the consumer electronics market, providing customers high-performing audio products with reliable sound quality. Over the last three years, Aiwa has experienced 197% annualized growth, bolstering investors' enthusiasm for the company.
"The potential of Aiwa is staggering. The very first product this team produced is the highest-rated speaker in its category on Amazon: the Exos-9 speaker," said Aiwa's CEO Mike Sullivan. "We've just expanded the product line by launching new earphones and have other exciting products in our short-term pipeline, like headphones and other unique speakers. After proving the market with the Exos-9, we have considerable investments to make in terms of marketing as well as legal expenses to continue expanding our footprint in Europe."
Funding was led by Fairlane Funds in Dallas and Dormitus Ventures from Chicago.
"We've been a part of Aiwa's growth for years, and we're excited to help them expand. They are investing in a proven strategy and are executing on it well," said Fairlane's Managing Director Jason Dodd.
About Aiwa Corporation
Aiwa is a Chicago-based consumer audio company dedicated to the passionate pursuit of bringing people together around music. They produce category-leading devices by following the simple formula of delivering "twice the hardware" of their competitors and providing world-class customer service.
About Fairlane Funds
Fairlane Funds is a multi-fund investment firm specializing in growth capital, equity placement, and fixed income debt solutions for lower middle market companies and their sponsors. Attempting to strike a balance between risk and appropriate capital deployment and allocation, Fairlane manages a diversified portfolio of private investments and capital, managing resources from high net worth families to smaller, entry level investors. Based in Dallas, Texas, Fairlane Funds has been an active investor and manager since 2005.
About Dormitus Brands
Dormitus Brands LLC identifies, acquires, redevelops, and monetizes iconic brand intellectual property. They are in the business of waking up sleeping giants and have developed a very unique methodology in doing so successfully.