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NOVELDA raises NOK 400 million in pre-IPO private placement to accelerate growth and product development

Press release. Dec 9, 2021

NOVELDA (“NOVELDA” or the “Company”), a world leader in Ultra-Wideband (UWB) sensing, is pleased to announce the completion of a successful NOK 400 million pre-IPO private placement through issuance of 484,848 new shares at a subscription price of NOK 825 per share, corresponding to a post-money equity valuation of NOK 1,533 million.

In addition to significant support from existing shareholders, the transaction attracted strong interest from Tier 1 institutional investors. As part of the transaction NOVELDA has provided a board resolution to initiate a process towards a listing of the Company’s shares on the Oslo Stock Exchange within 12 months.

NOVELDA has committed significant resources and capital over the last couple of years to gain leadership in UWB technology which has the potential to become as big as Bluetooth (4,5 billion chips per year) and the new funds will be used to finance further development of the Company’s technology, scaling of the Company’s organization as well as general corporate purposes.

“We are satisfied to see the strong investor interest in NOVELDA. With this funding round completed, we now have a great foundation for fast advancements within our key markets; Consumer Electronics, Smart Home, Building Automation, Digital Health and Automotive. In addition to providing the most reliable, lowest-power UWB sensing solution, we are going to add UWB ranging to our product portfolio,” said Jan-Bjørnar Lund, CEO of NOVELDA. “To make this happen and to further build NOVELDA as a leading UWB company globally, we will continue to actively search for the best talent in the business to build NOVELDA’s position even further” he added.

“Together with founders, entrepreneurs, and other investors, Investinor turns selected promising Norwegian companies into world-leading businesses. NOVELDA is a prime example of this. Since our initial investment in 2014, NOVELDA has developed the most reliable human presence sensor in the world,” says Terje Eidesmo, CEO at Investinor.

“NOVELDA has been a fantastic investment. Employees have quadrupled over the last seven years, while there has been an eightfold increase in enterprise value. NOVELDA is on the cusp of a major commercial breakthrough, and we look forward to the exciting opportunities ahead,” says Otto Frøseth, Investment Director at Investinor.

“I’m very impressed with NOVELDA; their management and technology, and how they have been able to build the leading Ultra-Wideband company in the world. Their existing products are proven in global markets, and they are uniquely positioned to capitalize on the next big wireless revolution,” said Jan-Erik Hæreid, Managing Partner in Alliance Venture. «I’m also very happy to see the strong investor interest in this funding round”.


Arctic Securities AS and Carnegie AS (the “Managers) acted as joint bookrunners in connection with the transaction.

Arntzen de Besche acted as legal advisor to NOVELDA and Thommessen acted as legal advisor to the Managers.


The groundbreaking innovation: NOVELDA provides the world’s most accurate, intelligent and reliable sensor solution for human presence detection. Our Ultra-Wideband (UWB) short-range impulse radar sensors help achieve new levels of user experience and interactivity in a variety of applications, including consumer electronic devices and smart building systems. Our technology complies with worldwide UWB regulations and is protected by several design patents.

We offer NOVELDA Ultra-Wideband Sensor® — the most reliable sensor in the world.