Savos Gets $2.2 Million in Angel Funding
Wireless audio company Savos (http://www.savos.com) announced the completion of a $2.2 million round of angel financing.
The company says it expects to raise an additional $10-20 million in a venture capital-led institutional round within 60-90 days.
Savos is a wireless Internet service that offers consumers access to audio programming via mobile phones and wireless devices. The service is set to launch sometimes this quarter.
Savos is offering two services. The first is Web-based that allows users to organize and play links from original audio programs broadcast on the Internet. The second is a dial-up phone-based application, controlled with touchtone and voice commands, to listen to audio programming.
"Savos is entering the wireless space with a new mobile platform that delivers streaming audio to mobile phones, and soon, PDA's, Internet radios and other audio-enabled wireless devices," said Sanford Cohen, CEO of Savos. "Many companies are focused on voice browsers and text-to-speech applications, but until now, existing Internet audio content has largely been ignored. Savos fills this niche. Our first round of financing will help bring this needed technology to the mobile community."
Savos says its operating platform can play any streaming format (RealAudio, Windows Media Player, MP3, etc.) to any device.