1871 HARDWARE STARTUP GRAMOVOX ANNOUNCES $650,000 IN SERIES A FUNDING, FUELS CAMPAIGN TO STREAM NOSTALGIA.

FOR IMMEDIATE RELEASE
August 26, 2014

CONTACT

Gramovox
Pavan Bapu
pavan@gramovox.com

1871 HARDWARE STARTUP GRAMOVOX ANNOUNCES $650,000 IN SERIES A FUNDING, FUELS CAMPAIGN TO STREAM NOSTALGIA

CHICAGO  (August 26, 2014) – Gramovox, a Chicago-based consumer electronics startup, announced today that it has secured $650,000 in Series A financing from Hard Eight Ventures. With these funds Gramovox can rapidly scale production and marketing efforts starting with this holiday season.

Gramovox reimagines vintage audio/visual equipment into functional contemporary art. Their debut product is the bluetooth gramophone. Its bold design and vintage sound are inspired by 1920s radio horn speakers. Its form and function are a marriage of vintage and modern aesthetics – producing a timeless piece that allows you to stream nostalgia.

The startup launched via Kickstarter last holiday season with a goal of $100K. They shattered the goal and pre-sold over $240,000 in 35 days. Following their success they were invited to the 56th Annual GRAMMY Awards to debut the bluetooth gramophone at the GRAMMY Gifting Suite. There they received glowing reviews from Lorde, Macklemore, Steven Tyler and LL Cool J, who said it was his “most favorite product at the GRAMMYs.”

“Gramovox has an inspiring product pipeline that brilliantly juxtaposes vintage and modern aesthetics,” said Francis Wisniewski, principal of Hard Eight Ventures. “They’re reviving the past in a manner that’s relevant to people today.

“1871 is pleased to congratulate the Gramovox team on their successful round of funding,” said 1871 CEO Howard A Tullman. “We are committed to providing our members with the best resources as they develop their businesses, and it’s exciting to witness the success of our members and continue to contribute to that success in any way we can. Startups are crucial players in Chicago’s economy, and 1871 is proud to support the efforts of Gramovox and the other new businesses that drive economic growth.”

Gramovox plans to expand their Chicago team in sales, marketing and operations.

For more information, visit http://gramovox.com

About 1871

1871 is an entrepreneurial hub for digital startups. Located in The Merchandise Mart, the 75,000-square-foot facility provides Chicago startups with programming, access to mentors, educational resources, potential investors and a community of like-minded entrepreneurs that help them on their path to building successful businesses. 1871 is the flagship project of the Chicagoland Entrepreneurial Center.