Stamford, CT and Oslo, Norway (Nov 21, 2016) - Sonitor Technologies, a global leader in high definition, indoor positioning technologies that provide real-time visibility and intelligence within complex indoor environments and based in Norway with operations and offices in the United States, announced today that it has raised new equity totaling 65 million NOK (approximately $8 million).
This new equity, raised from its existing investor base, will be used to meet the growing, global demand for Sonitor's unique and differentiated RTLS (real time location system) and to fund and accelerate its growth and innovation strategy, addressing healthcare and other attractive industry verticals. With the addition of this latest raise, shareholders have invested a total of 431 million NOK (approximately $63 million) and the company has nearly doubled its staff over the last 12 to 18 months.
"Our shareholders continue to recognize the unique value and strong market position our ultrasound-based RTLS technology has in healthcare and other industry verticals," said Arne Oyen, Group President and CEO of Sonitor. "This new raise will fuel our research to drive ultrasound indoor positioning innovation and allow us to expand our resources and reach ensuring we are delivering on customer and market needs. Our current and prospective customers can be confident they have chosen a reliable, long-term market leader dedicated to pushing the envelope in RTLS technology that will deliver breakthrough innovation."
Sonitor is committed to making life better by accelerating insights into action to enhance life, health and property by delivering innovative technologies like Sonitor's Sense™ RTLS technology platform so that forward-thinking institutions can build and sustain their next-generation ecosystem.