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Game changing headphone startup nura raises 12 million in crowdfunding




A MELBOURNE start-up behind the first pair of headphones that “listens to your ears” has become the most funded Australian campaign ever on crowd-funding platform Kickstarter.

Nuras headphones, which automatically tune themselves to your ears unique fingerprint, are being hailed as a game-changer in the music industry.

Within two days of launching its Kickstarter campaign, Nura had raised more than $360,000, and that figure has now grown to nearly $1.2 million from more than 4000 backers.

The previous most-funded Aussie Kickstarter was Oi, the bike bell that doesnt look like a bike bell. Only one per cent of projects globally reach more than $US1 million ($1.34 million).

Music lovers that have listened to albums for 30 years [try them] and say, they didnt know that instrument was in that track, co-founder Kyle Slater told news.com.au. It feels like youve just pulled your head out of the water.

Mr Slater, an engineer with a background in music and hearing science, said he originally came up with the idea by asking the question, how do you make the perfect headphone?

We all hear very differently, he said. We look differently, see differently, our fingerprints are different, our ears are no exception.

At the moment headphones dont really know anything about who theyre connected to and dont adapt the sound or match it to the specific needs of the person.

When someone puts on a pair of Nura headphones for the first time, they listen to a series of sounds for 30 seconds. We send some tones through the ear and listen to the response, and that response gives us information about how well you heard the sound, Mr Slater said.

The Kickstarter funds will be used on tooling for mass production at the factory in China, regulatory certifications, sourcing of materials, and distribution.

Mr Slater said the first delivery was planned for April 2017. He confirmed the company had been in talks with larger manufacturers interested in the technology, but the immediate focus was on shipping a product.

Our first and most important step as a company is to deliver an incredible product to the very first backers of the Kickstarter, he said. We're absolutely committed to doing that.

These scary money moves can turn your finances into a horror show




BAD money decisions can give you a bigger financial fright than the scariest Halloween horror movie.

Whether you are borrowing, investing or repaying debt, the potential for painful losses is always lurking, and money experts say knowing the pitfalls is the first step in avoiding problems.

Here are five scary money moves that can leave lifelong scars.

IN-STORE CREDIT DEALS

Interest-free loans for appliances and other large items seem attractive but can later shock you with extremely high interest rates if you dont repay it all within the interest-free period.

Consumer finance specialist Lisa Montgomery says your good intentions in the euphoric moment of buying an item can quickly become a nasty reality check.

A lot of people end up paying in extreme excess of what they should, she says.

Compare personal loans

BALANCE TRANSFER BLUES

Zero per cent balance transfer credit cards are all the rage, but consumers can get bitten if they fail to destroy their previous high-interest card.

A lot of people will keep it in a drawer, and theres temptation to get it out and use it again, Montgomery says. They may use it for a once-off and all of a sudden its back in the wallet and opportunitys knocking.

DEBT MOVES

Consolidating several high-interest loans into your low-interest mortgage only makes financial sense if you remove the temptation to spend up big again, and you continue making repayments at a similar level to your pre-consolidation repayments.

Montgomery says spreading a consolidated debt load over 25 years while making only minimum repayments means you will pay thousands of dollars more in total interest than if you pay the smaller loans off individually.

SPECULATIVE INVESTING

A hot share tip from a friend is no way to grow wealth. Placing big bets on small companies typically mineral or gas explorers can have disastrous results, as these minnows dominate each years list of worst-performing stocks.

Theres investing and theres speculating, and the problem is that most people think investing is speculating, says financial strategist Theo Marinis.

PUSHY PROPERTY PURCHASES

Buying a house before selling your existing property can lead to legal issues, two massive mortgages and enough financial stress to make an evil clown seem funny again.

People can get caught out on timing, says Marinis. You dont know how much you are going to get for your property, or if the market is going to suddenly drop. A potential solution is selling your home first and leasing it back while you build or hunt for a replacement, he says.