LUND, Sweden. March 5, 2020
Swedish IoT company SENSATIVE closes oversubscribed financing round
Smart Cities and Smart Buildings are hot areas in digitalization. The Swedish company SENSATIVE secures funding from both new and existing investors, e.g., Nicolas Hassbjer (founder and former CEO of HMS, now board pro and investor through Tequity AB). The money will be used to scale up in Europe and the US.
Sensative has developed a unique horizontal platform for connecting different subsystems in smart properties and smart cities. Through this, you can easily introduce IoT to streamline and optimize resources, reduce consumption, and develop entirely new services for customers.
Sensative’s sales landed at SEK 16 million in 2019, with both increased B2B volumes and several large and strategically important customers in initial delivery phases. Sensative is also seeing a growing interest from Northern Europe and North America and expects growth to increase further in 2020.
The interest in investing was substantial, and the planned funding round of SEK 20 million was oversubscribed by about 30%.
– “We are thrilled seeing such strong interest in Sensative in this round. We have found a perfect match of skills, networks, and capital that will take us to the next step in our internationalization”, says Sensative’s CEO Mats Pettersson. “In addition to the new strong investors, it is very gratifying to see that several of our existing investors have chosen to follow and increase their ownership in Sensative. We also see an increased international interest in Sensative as two of the new investors come from the US and Singapore respectively”.
– “Sensative has good opportunities to become a leading player in this fast-growing area. A strong position in the market, a good product portfolio with a high level of innovation, and a very experienced team promise good for the future,” says Nicolas Hassbjer.
In total, Sensative AB raises SEK 27 million. Existing owners, staff, founders, and several new investors participate in the round.