Promentum sells Danish AI business Grazper to Yokogawa

Eliza Punshi
27 March 2020

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Japanese listed company Yokogawa Electric Corporation has wholly acquired Grazper Technologies from Danish venture capital firm Promentum Equity Partners.

Terms of the deal were not disclosed.

Grazper develops AI technology for analysing images. Promentum, which invests in Nordic tech companies, acquired a stake in the business in October 2016.

The Japanese electrical engineering and software conglomerate said in a statement that it was currently developing AI solutions for plants and public infrastructure projects.

It also plans to use the technology for smart city projects and security applications targeting airports and railways.

Says Thomas Jakobsen, CEO of Grazper: "This is a unique opportunity for Grazper to scale the company and achieve global representation. Being a part of Yokogawa gives us a whole other platform to commercialise our solutions."

Company
Founded in 2015 in Copenhagen, Grazper has developed an AI for analysing images. The company employs 12 staff.

People
Grazper Technologies – Thomas Jakobsen (CEO).

Advisers
Company – Tokyo International Law Office (legal).
Vendor – Oaklins Denmark (M&A, financial due diligence); Horten Law Firm (legal).