Arctic Securities acted as Sole Manager in relation to the Private Placement in Novelda AS. Through the Offering, Novelda raised gross proceeds of approx. USD 15 million which will be used to further develop the Company’s unique radar sensor technology into finished consumer products and to grow the organization.
Novelda AS is a privately held, R&D driven, sensor company based in Norway and specializing in nanoscale wireless low-power technology for ultra-high resolution impulse radar. Novelda’s XeThru Impulse Radar is a complete CMOS radar system integrated on a single chip. This technology is used to implement a high-precision electromagnetic sensor for human vital sign monitoring, personal security, environmental monitoring, industrial/home automation and other novel sensor applications. The Company has 35 employees in Norway, US and Asia.
We thank Novelda for the vote of confidence and congratulate on the successful transaction.