Internet Radio Start-Up Livio Grows

Gets more backing; plans to add engineers
Author:
Publish date:

Internet radio maker Livio is growing and plans to add engineering and marketing jobs thanks to its projected sales growth from car Internet radio products.

The Michigan-based Livio plans to release its Bluetooth Internet radio car kit this month. The aftermarket Internet radio car device uses a smartphone’s data connection to access Internet radio streams.

Users will download the Livio Car Internet Radio app for Adroid or iOS and plug in the device. Using a Bluetooth connection, the device will connect to the smartphone and stream Internet radio stations from the phone to the car stereo.

Livio Radio describes itself as a “second-phase” start-up. It has new funding from venture capital firm Western Technology Investment, which says it worked with companies like Facebook and Google in their early days. Though the terms of the funding were not disclosed, Livio Radio founder and CEO Jake Sigal said the deal will provide additional growth capital and support continued development of Livio’s Internet car radio products.

Livio last week announced new backing from another investor, Angel Street Capital backed by Robert Maccini and Joseph Gallagher. They are former owners of Internet radio rep firm Net Radio Sales and Internet radio audience measurement and ad insertion company Ando Media. Livio Radio is also backed by Michigan’s largest venture capital firm, Beringea LLC.

Related