Novelda completes a $15 million growth investment round from Investinor and Alliance Ventures

Norway Investments 04 February 2019
Share on FacebookShare on Twitter

Novelda, an Oslo, Norway-based company specializing in nanoscale wireless low-power technology for ultra-high resolution impulse radar, announced that it secured a $15 million funding round in growth investment.

The round was led by Investinor with participation from Alliance Venture. Both are existing investors in the company.

The money will be used to further develop and take the company's product, the XeThru radar sensor technology, into high volume applications.

Novelda AS, led by CEO Cornelia Mender, has developed XeThru, smart sensor technology based on low power UWB Impulse radar. The rradar System-on-Chip (SoC) technology forms the basis for developing non-intrusive contactless sensors towards a range of applications within consumer electronics, smart buildings, vital signs monitoring and human safety.

Novelda´s XeThru sensors can improve quality of life and personal comfort and safety by enabling non-intrusive sensors that collect important data while preserving full privacy. The sensors utilize extremely low energy GHz radio waves and advanced signal processing, which makes them highly suited to a range of applications.

Novelda is headquartered in Norway with offices in US and Hong Kong. Prior to this round, the company has raised almost $30M.