Novelda Raises $12M in Series B Funding Round
Novelda, an Oslo, Norway-based semiconductor company announced raising $12M in additional funding from its existing investors, including Investinor, Verdane and Alliance Ventures. The funding round is intended to secure the commercialization phase of its products, as well as maintain its position as a leading supplier of smart sensors.
Novelda, led by CEO Cornelia Mender, has developed XeThru, an advanced contactless sensor technology for a range of vital signs applications including: baby monitors, sleep monitoring systems, respiration rate monitors, elderly care, and similar fitness, health, welfare and lifestyle products.
The XeThru technology can also be used in a number of automotive and industrial applications. The sensors use extremely low energy GHz radio waves and advanced signal processing, which makes them highly suited to a range of applications. Novelda provides both development kits and OEM modules to system developers worldwide.