Investee Company – WeSpot
Investee Company Country – Sweden
Investee Company Business Type – Develops surveillance sensors
Type of Financing – Development capital
Equity Providers – SEB Foretagsinvest, CR&T Ventures and Malmohus Invest
Equity Leader (Individual) – Dan Peterson, SEB Foretagsinvest, Hans Jacobson, CR&T Ventures, Hakan Nelson, Malmohus Invest
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – SEK19 million (euro2.1 million)
Total Deal Value – SEK19 million (euro2.1 million)
Other Advisors –
Comments – WeSpot AB, a subsidiary of C Technologies, has received SEK19 million development capital from SEB Foretagsinvest, CR&T Ventures and previous investor, Malmohus Invest.
WeSpot is based in Lund, Sweden. The company, which was founded in 1999 and currently has just over 20 employees, develops smart image surveillance sensors for alarm handling and passage control systems. WeSpot’s product is a new type of intrusion sensor with built-in intelligence.
Commenting on the investment, Lars Holmqvist, CEO of WeSpot, said: “The broad ownership structure of WeSpot now being realised through C Technologies, Malmohus Invest, SEB Foretagsinvest and CR&T Ventures will create a strong board comprising both technical and entrepreneurial skills. This is of course very positive for the development of the company.”
Products and services related to the security business are expected to yield global sales totalling SEK 2500 billion (euro275 million) in 2002.