Tespack raises €2M in venture money from a Saudi venture firm and from an American angel investor.

Tespack, a Helsinki, Finland-based company designing and manufacturing mobile energy solutions, announced closing a €2M ($2.35M) investment round.

The backers include WOW Ventures from Saudi Arabia represented by Asaad Jamjoom and Yousef Hamidaddin and from American angel investor Neal Dempsey.

Tespack, founded in 2013 and led by CEO Mario Aguilera, develops and designs mobile energy solutions such as solar power battery packs, backpacks, and solar panels. The company's first product line, Tespack Smartpacks, collects energy from the sun, stores it in mobile chargers and charge all your devices, even laptops, on the move. A second product unit, mainly used in the military, is an ultra-fast charging technology (3 times faster than Qualcomm) that can charge a new power bank full in 12 minutes only.

The investment will be used to enter the MENASA region, and further take the company prototypes into production and implement IoT into UFS (ultra-fast safe) charging technology, as Tespack intends to become an organisation that focuses in IoT, UFS charging technology while creating mobile energy solutions for the consumer market as well as for the military.

Priro to this deal, Tespack raised about $250k from investors including Arkley Venture Capital.