Novelda secures a Series B funding round of 12M USD led by Investinor

Oslo, Norway --- Novelda, a developer and manufacturer of adaptive smart sensors, announces a further $12M funding round to take its XeThru vital signs and true presence sensors into high volume production. Novelda is providing advanced contactless sensor technology for a range of vital signs applications including: baby monitors, sleep monitoring systems, respiration rate monitors, elderly care, and similar fitness, health, welfare and lifestyle products. The ultra sensitive XeThru sensors are similarly providing a revolutionary true presence sensor for building safety, HVAC control, light control, surveillance and automation applications.

For Novelda, this funding round means that the company can secure the commercialization phase of its products, as well as maintain its position as a leading supplier of smart sensors. “Novelda has rapidly achieved a leadership position in the large and fast-growing market for advanced building sensors. This builds on the great potential the XeThru radar sensor has in a vast range of vital signs monitoring applications”, said Jon Øyvind Eriksen, investment director at Investinor, “The technology that has been developed by the Novelda team over the last two years is truly impressive, and we're excited to be working together to establish Novelda as a global market leader. Novelda is a great example of a typical capital-efficient business in the IoT sector that we like to invest in.”

For more information, see the XeThru technology website http://www.xethru.com
 

Suggested Articles

HP leads the pack, but Apple sees 36% surge in notebooks, desktops compared to a year ago

New York City residents moving upstate will give hundreds of towns extra tax revenue to invest in new streetlights with IoT sensors, NYPA foresees

With about one-fifth the revenues of Intel, Nvidia’s market capitalization exceeds Intel’s as Nvidia stock hits record high