VC-backed Roli bolts on FXpansion

Following the deal, both brands will continue to offer their existing products, though Roli said in a statement it would look to integrate FXpansion software into its products.

Roli designs and manufactures the Seaboard product, a keyboard with a soft continuous surface that allows musicians to employ techniques not usually associated with pianos.

The acquisition of FXpansion comes four months after US-based Foundry Group led a $27m series-B funding round for Roli.

Balderton Capital led an initial $12.8m series-A round for the business in May 2014, with participation from Index Ventures, FirstMark Capital and Universal Music. Hong Kong firm Horizons Ventures provided $3.7m in follow-on funding five months later.

Company
Founded in 1999, London-headquartered FXpansion develops musical software including drum machines and virtual synthesizers.

People
Roli – Roland Lamb (CEO).

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• Topics
• Portfolio management
• UK / Ireland
• Technology
• Build-up
• United Kingdom
• Index Ventures
• Balderton Capital