H&D Wireless, a fast-growing Swedish Internet of Things, cloud and platform system provider, has raises $3m from a network of European private individuals. As part of the expansion plans, the company is looking to list the company’s shares at Nasdaq First North in Stockholm during the first half of 2017. The capital will be used for the company’s continued global expansion and the launch of its new IoT cloud platform system allowing cashless payments and location tracking services within a large number of applications.
H&D Wireless AB was founded in Stockholm Sweden in 2009 and claims to be one of Sweden’s fastest growing high tech start-ups. The company has to date shipped more than 1,000,000 wifi units for smarthome and wireless multimedia solutions across the globe.
The company has now raised $3m from Blasieholmen Investment Group and its network of 40 Swedish and European private entrepreneurs and investors. There is also an option for an additional $4m investment. The capital injection will support the company’s imminent launch of a B2B-system for cashless payments and location tracking to visualize and optimize customer business processes.
The new positioning and cashless payment system, Griffin Enterprise Positioning and Payments System (GEPPS) is based on the company’s flagship Griffin IoT cloud platform, an end-to-end system solution containing wireless modules, cloud services and smart phone applications for smarthomes. With the GEPPS system, the company enters the fast-growing market for RTLS (Real Time Localization Services), within enterprises for assets, supply chain and people.
“We are very happy to raise this new capital from experienced investors who understand our business and see the huge market potential,” said Pär Bergsten, founder and CEO of H&D Wireless. “We are excited to be operating in the most exciting Internet technology field today, wirelessly connecting customer products with cloud services and mobile apps.”