reMarkable raises $15M series A from Spark Capital.
reMarkable, an Oslo, Norway-based manufacturer of a digital paper tablet, announced the completion of a $15M capital investment round in series A.
The round was backed by US-based investment company Spark Capital.
The funding will be used repay a DNB loan of NOK 40M ($4.4M) and to accelerate the business growth - sales and marketing efforts - as well as for investment into R&D around future products.
reMarkable, founded in 2013 by CEO Magnus Haug Wanberg, built a digital tablet that aims to replicate paper in a digital form. The tablet costs $500 and is based on a Linux-based operating system optimized for the 10.3″ e-paper display. The company has 98 employees, has sold more than 100,000 of the devices, with total sales estimated to reach almost $60M in 2019.