Disruptive Technologies has announced $6.13 million (NOK 50 million) in new equity financing from Ubon Partners. Disruptive Technologies develops wireless sensors communicating with the Internet and the sensors have unique characteristics in terms of size, range and battery capacity.
The company was founded in September 2013 and has until now been financed by employees and a few selected strategic investors. Including Ubon Partner’s investment, the company has raised a total of $11.42 million (NOK 93 million).
The new investment will be used to finance further development of Disruptive Technologies innovative sensor technology, and development of organisation and infrastructure towards market introduction in early 2017.
“In 2015 there were 25 billion devices connected to the Internet. According to Stanford University it is expected to be more than 500 billion by 2022. We have a world-leading sensor technology and are happy to have Ubon Partners to help us to ensure that Disruptive Technologies becomes a great success.
We have experienced great interest from both Norwegian and international investors and investment funds, but chose Ubon Partners because of their very strong track record in building and operating growth companies”, said Erik Fossum Færevaag, founder and CEO of Disruptive Technologies.
“Erik and his team have developed a kick-ass technology positioning the Company at the core of IoT. We believe Disruptive Technologies has the technology, tenacity and people required to win. We’re excited to be on board”, said Fredrik Halvorsen, director of Ubon Partners.
Disruptive Technologies is headquartered in Bergen and has 17 employees located in multiple geographies. The company’s growth plans implies an increase in staffing, which means the company is looking for new employees with experience in the industry that can help with product development, sales and marketing.
“We are looking for the best people in the world regardless of where they are geographically located.” said Erik Fossum Færevaag.
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