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Nestwave Secures Additional Capital to Accelerate Deployment of Low-Power Geolocation Solutions for the IoT
European Innovation Council Fund, Sofimac Innovation and The Faktory Fund Back Nestwave Innovation and Vision
Nestwave, a provider of low-power geolocation IP and cloud services for Internet of Things (IoT) applications, today announced that it has secured a €2.4 million round of financing from the European Innovation Council, the European Commission s newly established venture capital fund, and from current investors Sofimac Innovation (Paris, France) and The Faktory Fund (Liege, Belgium). The new financing round will enable Nestwave to further accelerate the rollout of its hybrid-signal global navigation satellite system (GNSS) and cellular positioning technologies.
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Copenhagen, Denmark – February 24, 2021 – NIL Technology (NILT), a specialist in advanced optical solutions has carried out a financing round of 26 million euros (USD 31 million). The financing was co-led by Jolt Capital, NGP Capital and Vaekstfonden, with EIC Fund as a new significant investor.
Over the last two years, NILT has developed unique solutions for optical components that take optical sensing and 3D imaging to a new level with respect to performance, efficiency, compactness, and material consumption.
3D sensing is a pioneering feature for smartphones, consumer products, AR/MR, autonomous vehicles, etc., where cutting edge real-time sensor technologies, such as face- and gesture recognition or monitoring of surroundings are wanted.
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