Oslo-based reMarkable, announced the completion of a $15M capital investment round in series A.
The round was backed by the American investment company Spark Capital.
reMarkable, is a manufacturer of a digital paper tablet and was founded in 2013 by CEO Magnus Haug Wanberg. He wanted to build a digital tablet to replicate the massive paper use.
The tablet costs $500 and is based on a Linux-based operating system optimised for the 10.3″ e-paper display. The company has 98 employees, has sold more than 100 000 of the devices, with total sales estimated to reach almost $60M in 2019.
The Investment Money
The funding from Spark Capital will be used to repay a loan from the DNB bank of $4.4M (NOK 40M) and to accelerate the business growth.
ReMarkable states that now they will focus on sales and marketing, as well as investment into R&D around future products.
We believe that information should be free and will therefore never put up a paywall.
If you like reading our reports about the Scandinavian business scene and would like to donate towards the upkeep of the site, we would be very grateful. Click here to donate.
Tech | 🕐 03. Aug. 2020
Business | 🕐 04. Aug. 2020
Sustainability | 🕐 05. Aug. 2020
Startups | 🕐 13. Apr. 2020
Startups | 🕐 17. Apr. 2020
Startups | 🕐 27. Apr. 2020
Game Development | 🕐 18. Feb. 2020
Tech | 🕐 26. Feb. 2020
Tech | 🕐 24. Feb. 2020