Investee Company – WeSpot AB (Sweden)
Investee Company Business Type – Manufactures surveillance equipment
Type of Financing – Expansion
Equity Providers – Industrifonden, Malmohus Invest, CRT Ventures, Bure Equity and SEB Foretagsinvest
Equity Leader (Individual) – Lennart Gustafson, Industrifonden
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – SEK16 million (euro1.7 million)
Total Deal Value – SEK16 million (euro1.7 million)
Other Advisors – N/A
Comments – WeSpot AB, a surveillance equipment manufacturer, has received a new round of venture capital financing totalling SEK16 million. The round was led by Industrifonden, which invested SEK10 million, and includes WeSpot’s existing investors Malmohus Invest, CRT Ventures, Bure Equity and SEB Foretagsinvest.
WeSpot, based in Lund, Sweden, was founded in 1999. The company manufactures and supplies smart image surveillance sensors for smart cameras that can register specific incidents and trigger alarms. Wespot has developed a new camera platform for principally surveillance sensors, detection and access control systems.
The global security market now has a turnover of approximately SEK2,500 billion (euro266 billion)
Lennart Gustafson, investment manager at Industrifonden, commented: “We have followed WeSpot’s growth almost since its start in 1999 and have all the time been very interested in the company’s technical science. The good point about WeSpot’s technology is that it has so many different application areas with security and surveillance. This is a ground for making the company’s potential for success substantial.”