By  on November 12, 2012

PARIS — Devialet, a French maker of deluxe hi-fis, said on Monday it has raised $19 million in new funding for expansion, with luxury titan Bernard Arnault among the investors.

A total of $15 million was raised via a consortium of investors that also included Jacques-Antoine Granjon, chief executive officer and founder of online retailer Vente-Privé; Xavier Niel, founder of Internet firm Free and a co-owner of Le Monde with Pierre Bergé and Matthieu Pigasse, and Marc Simoncini, founder of dating Web site Meetic. The balance of the capital increase derives from existing investors.

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