Comhear Inc., the company licensing loudspeaker technology developed at UC San Diego, said on June 5 that it closed a $12 million Series A capitalization round and named Gerry Chastelet as its CEO.
Comhear offers directional sound technology. In short, a loudspeaker with Comhear’s technology delivers a headphone-like experience, without the headphones. The technology is able to send beams of sound to specific locations, and isolate sound in a single location.
Chastelet is former chairman and CEO of Dominus Innovations and Digital Lightwave. He has extensive experience leading public and private high growth companies.
Perry Teevens, who previously served as CEO, will continue as president and will be in charge of business development.
Comhear also announced that Andrew Arno has joined its board. Arno is vice chairman of the special equities group at Chardan Capital Markets LLC in New York.
According to a securities filing from May 15, equity sales began on April 30. Some 76 investors bought $9.96 million worth of stock by mid-May, the filing said. The minimum investment accepted from any outside investor was $500.
Directors listed in the May 15 filing include Andrew Sassine, the company’s chairman, as well as Wyatt Briant, Jon Sundt, Brad Buss, Teevens, Arno and CFO Jim Lucas.
Comhear calls its patented technology MyBeam. It is currently available for the pro audio-visual market, and will be introduced to consumers this summer in a crowdfunding campaign for the Yarra 3DX three-dimensional sound projector.