Wavr Tech completes bridge funding

Wavr Tech is undergoing an intensive development phase, where the first project under the Zentnl brand is being commercialized for a customer who has a leading position in the mine segment. During the year 2022, the developed Zentnl platform will be supplemented with more features and improved performance. During the same time a sales and delivery organization will be implemented. 

The Company’s board of directors has created a funding strategy based on a lending program in combination with a potential IPO process during the year 2022. Wavr Tech’s largest shareholders have stated that they are prepared to support the Company with additional capital during this intensive development phase. 

At the beginning of November, the Company was provided new cash and cash equivalents with a total of 5.260 KSEK. The bridge funding is sufficient to support existing operations for 6-8 months, including expected costs for a potential listing process of the Company during 2022. To meet customer’s demand, a limited expansion of resources in engineering, sales, and distribution is also planned. 

In discussions with potential customer, Wavr Tech receives confirmation on the Zentnl platform’s high potential to identify health and safety risks and to contribute to a proactive work method. In the coming 12-15 months, Wavr Tech is estimated to have a potential of more than a thousand new subscriptions. 

For additional information, please contact: 

Patrik Zayas, CEO, Wavr Tech 
+46 708 153 530