27/09/2017
Emergence Oy raised EUR 1.3 Million in seed funding to commercialize Taival
The IoT location service company Emergence Oy racked up EUR 1.3 million of private capital during the seed round of funding, which was recently completed. The capital will be invested in product development and boosting international growth.
The new share issue was realized between the 19th of June and the 18th of August 2017 in collaboration with Privanet though their AROUND®-platform, a Finnish investment service group connecting investors with companies looking for funding. Emergence Oy intends to use the capital for product development and boosting international growth.
Emergence Oy is developing Taival, an easy-to-use, affordable, scalable, solar-powered IoT service, which is maintenance-free for up to 10 years. The aim is to offer the easiest, most care-free asset-tracking for businesses to enable more efficient utilization of the companies’ physical assets, thus enabling savings in asset investments, and savings in maintenance cost.
Taival has gained traction from B2B customers at a rapid pace both in Finland and in several European countries. A pilot is currently ongoing with Finnish Transport Agency to monitor the buoys along the coast of Helsinki to guarantee sea safety. In the coming months, several asset management pilots will be started. Emergence Oy won the Elisa IoT Innovation Challenge at Slush in Autumn 2016, and has been partnering with Elisa Oyj ever since. The commercial launch of Taival is planned for early 2018.