Charles Russell Speechlys advises Puma Private Equity on its £5.5 million investment into IRIS Audio
Charles Russell Speechlys advised long-term client Puma Private Equity in relation to its £5.5 million investment into IRIS Audio Technologies Limited.
This funding round, which also included investment from existing shareholders including the Ojjeh family, Tag Group and Toby Brzoznowski, aims to help Iris expand into North America particularly in relation to the adoption of IRIS Clarity, a product that uses AI to remove background noise from calls.
IRIS is an audio technology company with patented products that aim to dramatically improve how people experience audio across all digital platforms. Founded by Jacobi Anstruther, IRIS has attracted worldwide investment and is promoted by the IndyCar series.
Puma Private Equity offers growth capital and expertise to best-in-class, ambitious businesses across the UK, irrespective of sector, and works in partnership with management to help businesses scale and create long-term value. It aims to deliver insight, expertise and a fresh perspective to the portfolio companies it partners with. Having invested in, and worked with, more than 35 organisations across a breadth of sectors from consumer e-commerce to fleet transport safety and influencer marketing, Puma Private Equity has deep insights and experience in scaling businesses for growth and where desired, successful sale and exit.
Harriet Rosethorn, Investment Director of Puma Private Equity commented:
“We were very pleased to work closely with David, Ashwin and the wider team at Charles Russell Speechlys on this investment. As usual, we received first rate support throughout and are excited to see how our investment into IRIS will boost their development.”
Ashwin Pillay, Corporate Senior Associate commented:
“Once again, we were delighted to have supported Puma Private Equity on this exciting investment and look forward to seeing them deliver growth in this market.”
The team was led by Corporate Partner David Coates and Senior Associate Ashwin Pillay, supported by Associate Ayman Shehata and Trainee Laurence Whymark. The wider team also included Briony Richards (Employment), Caroline Young and Ilona Bateson (Commercial), Juliane Lorenz (Real Estate), Robert Birchall and Elliot Michaelson (Tax).