wheel.me™ today announced the completion of a highly successful equity issue of over $13 million. Following an overwhelming interest, the initial target of $8 million was increased by more than 50%. The funds will be used for setting up its planned assembly line in Fredrikstad, driving international growth, and continuing new product development.
Along with several wheel.me™ employees, new investors include i.a Ferd AS, CentraGruppen, Pensjonskassen for helseforetakene, MP Pensjons PK, several family offices and HNWI.
As automation and robotics continue to influence global manufacturing, logistics, and health care services – among others - wheel.me's technology will enable its customers to further optimize their operations and business models by making virtually any object into an autonomously movable object. This allows for a wide array of applications, from optimizing the transport of parts within manufacturing plants, to the autonomous movement of patient beds and equipment in hospitals. While the main focus is on large-scale operations such as industrial ventures, the opportunities for the use of the wheel are endless.
"We are very pleased and humbled by the interest wheel.me has been able to attract in this private placement and grateful for the strong support. The funding enables us to execute on our growth plans for 2022 and beyond and we are excited to move into our international scale-up of the company focusing on automated manufacturing of our Genius wheels and delivering on our customer contracts." said Walter Qvam, Chairman of the Board of wheel.me AS.
wheel.me™ is a robotics and IoT company that helps people improve the way they live and work by enabling anything indoors to move effortlessly on smart wheels.