Internet radio device manufacturer Livio Radio announced it has a new investment partner, Angel Street Capital.
Livio sells Internet radio products including tabletop Internet radios featuring Pandora and NPR member stations. It said the investment will help it expand its offerings in the area of smartphone-assisted car Internet radio services.
ASC founders Robert Maccini and Joseph Gallagher are former owners of Internet radio rep firm Net Radio Sales and Internet radio audience measurement and ad insertion company Ando Media. Terms of the ASC deal were not disclosed. Livio’s venture capital partners also include Beringea and Western Technology Investments.
“We know that CD players and even MP3s are on their way out to make way for car Internet radio, and we are going to be the ones to make sure it’s available to the masses with our products and software,” stated Livio Radio Founder/CEO Jake Sigal.
Livio and Dice Electronics have been developing an aftermarket Internet radio car device that uses a smartphone’s data connection to access Internet radio streams. The user would 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 phone and stream Internet radio stations from the phone to the car stereo.
In May, Dice announced it has added the Livio Car Internet Radio application to the Silverline Duo integration kit, which lists for $190. The Duo automotive interface gives users access to their iPhone/iPod, the Livio Car Internet Radio application and Sirius Satellite Radio. The connected iPhone application is controlled through car stereo’s controls on touchscreen radios, steering wheel or the center console.
