Last checked at 20 May 2021 07:00
NetScientific plc
("NetScientific", the "Group" or the "Company")
EMV Capital advises on £3.4m funding for smart sensor maker PointGrab
London, UK - 20 May 2021 - NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group, announces that its corporate finance and venture capital division, EMV Capital Ltd ("EMVC") has advised on a £3.4m equity raise in PointGrab, a maker of smart sensors that help businesses maintain social distancing in post-COVID offices. The fundraise included a direct investment of £60,000 by NetScientific.
PointGrab's product is a smart workplace platform system enabling organisations to count, track the flow and locate people at individual desks, on floors or across an entire campus. It alerts users when social distancing measures are breached. The system also features cleaning and sanitation measures to help make offices COVID secure. The platform is already used in over 40 countries, by 45 Fortune 500 Companies.
With the return to the office now in sight, globally, employers are working on ways to help their teams return to work in safe environments that meet new COVID-secure working practices.
PointGrab's solution is well tried and tested, having been deployed in over 200 locations across five continents. It offers an immediate and integrated solution to the problems facing commercial real estate manager and companies in a post-COVID world. This funding will build on a solid pipeline of new deployments globally.
EMV Capital's syndicated investment will be used to address increasing requirements from PointGrab's new and existing clients to provide technological solutions to help people return to offices in a COVID-safe manner. This funding round includes investments from existing PointGrab investors, EMV Capital's parent company NetScientific PLC and new EMV Capital private investors.
Doron Shachar, CEO of PointGrab, said: "PointGrab will use this investment to consolidate our position as a leader in the growing smart office market segment, and continue to service Fortune 500 and other industry leader clients. Our platform enables creative and stress-free working environments by providing real-time data and flexibility to employers, compliant with new health and safety regulations. PointGrab is expanding to help its customers adjust to this new business landscape, accelerating the return to business as usual, while reducing public health risk."
Dr. Ilian Iliev, CEO of NetScientific commented: "As a long-term investor, we backed PointGrab management's vision of using smart technology for a safe, productive and flexible office environment. In line with our pro-active investment strategy, we worked with the management team throughout the COVID crisis to help evolve corporate and investment strategy in response to the once-in-a-generation shifts in corporate practices unleashed by COVID."
For more information, please contact:
NetScientific | Via Walbrook PR |
Ilian Iliev, CEO |
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WH Ireland (NOMAD, Financial Adviser and Broker) |
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Chris Fielding / Darshan Patel | +44 (0)20 7220 1666 |
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Walbrook PR | +44 (0)20 7933 8780 or netscientific@walbrookpr.com |
Nick Rome / Nicholas Johnson / Paul McManus
| 07748 325 236 / 07884 664 686 / 07980 541 893
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About NetScientific
NetScientific plc (AIM: NSCI) is a holding company, that invests in, develops, commercialises and realises shareholder value in life sciences/healthcare, sustainability and technology companies, which offer significant growth potential predominately in the UK and USA, as well as globally.
With the acquisition of EMV Capital in August 2020, the Group doubled its portfolio from 8 to 17 companies, either through direct subsidiary, balance sheet investment or capital under advisory, varying from start-up private companies to publicly listed equities.
NetScientific delivers shareholder returns through a proactive and hands-on management approach to their portfolio companies; identifying, investing in, and helping to build game-changing companies. The Group targets value inflection points and the release of value through partial or full exits from trade sales, public listings, or equity sales. The Company has a strong transatlantic and growing international presence, providing attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising the power of the PLC Brand, and the NetScientific balance sheet to anchor future investments and achieve a multiplier effect by attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2013 (website: www.netscientific.net).
About PointGrab www.pointgrab.com
PointGrab is a leading machine learning and computer vision PropTech company that provides smart sensing solutions to the building automation and facilities management industry. The company applies its superior deep-learning technology to the building automation ecosystem, where opportunities to gather data are abundant, but efficient, real-time analytics are lacking. Its investors include EMV Capital, ABB Ventures, Signify, and various family offices.
For PointGrab COVID-19 use case video, please visit https://vimeo.com/407575381