Investinor et al. in $12m round for Novelda

Other investors in the series-A round led by the Norwegian government-backed firm include Alliance Venture, Sparebank 1 SMN Invest and several angel investors in Norway and the US.

Novelda's fresh capital injection will be used to secure delivery and fund further development of its XeThru sensor technology.

Company
Novelda develops, manufactures and distributes smart sensor technology for detecting vital signs, motion, presence and location.

Founded in 2004 as a spinout from the University of Oslo, the company is now headquartered in Kviteseid in the Norwegian Telemark.

People
Geir Ove Kjesbu is the CEO of Investinor. Novelda's CEO is Alf-Egil Bogen.

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• Topics
• Nordics
• Expansion
• Industrials
• Norway
• Alliance Venture