# Novelda AS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/novelda

- Industry: Semiconductors
- Headquarters: Oslo, Norway
- Website: www.xethru.com
- Total disclosed funding: $25M
- Latest round: Series B (Dec 7, 2016)
- Investors on record: 4

## About

Novelda AS is a technology company that designs and manufactures Ultra-Low Power UWB Radar Sensors, enabling precise human presence detection for applications across consumer electronics, smart buildings, and automotive industries.Founded in 2004 and headquartered in Oslo, Norway, Novelda AS specializes in developing Ultra-Low Power UWB Radar Sensors. The company has undergone strategic pivots to enhance its technology offerings. Dag Wisland, the founder, has a history in technology startups. The firm has successfully raised a total of USD 15.00 mn through multiple funding rounds, with the latest being a Growth round led by Investinor, which focused on expanding their market reach and product capabilities. Notably, the company has completed five investment deals.Novelda specializes in the development and manufacturing of Ultra-Low Power UWB Radar Sensors. Their primary products detect minute movements like breathing and heartbeat, which cater to consumer electronics, smart building systems, and automotive in-cabin sensing. The sensors allow touch-free interactions, enhancing energy efficiency and safety. Key use cases include automatic user log-in systems and automated lighting and climate controls. Their products are distributed across North America, Europe, and Asia-Pacific, serving a diverse clientele of electronics manufacturers and smart technology integrators.In 2022, Novelda reported a revenue of USD 2,124,579.40, while the EBITDA for the same year stood at USD -14,861,346.50. The revenue model relies on direct partnerships with B2B clients, where sensors are sold for integration into various products aimed at enhancing user experience and energy efficiency.Novelda AS is focusing on the launch of innovative sensor products aimed at expanding their market footprint. The company plans to introduce new UWB technologies designed for enhanced human presence detection by the end of 2023. They are also targeting expansion into new geographic markets, particularly in Asia and North America, by 2024. Recent funding, including a venture investment from Kvantia, will support these initiatives, fueling product development and market entry strategies.

## Funding rounds

- Series B, Dec 7, 2016, $12M — Investinor
- Series A, Dec 3, 2014, $12M — Alliance Venture, SMN Investment Services, Investinor, Sparebank1 Nord-Norge
- Seed, Sep 12, 2008, $0.8M — Alliance Venture

## Investors

- Alliance Venture (https://capitalatlas.ai/funds/alliance-venture) — Seed, Series A
- SMN Investment Services — Series A
- Investinor (https://capitalatlas.ai/funds/investinor) — Series A, Series B
- Sparebank1 Nord-Norge — Series A