TYXIT closes seed round with CHF 2 million to bring its proprietary ultra-low latency communication technology to market

25.10.2022 12:38, Morgane Ghilardi

The raised funds will facilitate TYXIT’s overall mission to make audio communication in the digital world as fast as in the real world. TYXIT participated in the Venture Kick program in 2018 and was a Venture Leaders Technology 2022. The company also made the TOP 100 Swiss Startup ranking in 2022.

TYXIT has developed a proprietary SaaS software enabling performers to communicate from different locations at the same speed as if they were in the same room.

The financing round was led by Privilège Ventures SA, with co-investments from ACE & Company, in addition to the reinvestment of existing shareholders including the Business Angels Switzerland (BAS) and some key selected individuals. 

Before closing this financing round, several key milestones have been achieved this year, one of the main ones being just last July: TYXIT's solution allowed pro musicians to jam synchronously from the stages of two of the world's most iconic jazz festivals (the Montreux Jazz Festival and the Jazz à Vienne Festival) in front of a live audience. The event showcased TYXIT’s leadership in latency and audio-quality communication technology.

Another highlight was the confirmation of major market traction from the e-sport and gaming sector towards the TYXIT solution, from pro-e-sport teams to casual gamers, all seeking a solution to communicate faster and with higher audio quality when playing in teams. TYXIT is now partnering with some of the key actors in this ecosystem. This fundraising will enable TYXIT to open this specific market, through our new gamer-focused brand: SONIX.

TYXIT participated in the Venture Kick program in 2018, winning CHF 40,000 to accelerate product and business development. In 2022, the company was selected to join the Swiss National Startup Team as Venture Leaders Technology 2022. As TYXIT CEO Nicolas Abelé said: "I first participated in Venture Leaders in 2006 with my first startup. Sixteen years later, the program remains the best in Switzerland for startups that think big."

A panel of investors and experts also voted TYXIT one of the TOP 100 Swiss Startups in 2022.


CEO Nicolas Abelé represented TYXIT as a Venture Leaders Technology in 2022

(Source: PR/VL/MG)