Press release 4 July 2016
Free for release: immediately
Technology company Yepzon Oy that develops location devices and services accumulated financing for growth and product development in the amount of over €1 million. The successful share issue and other financial instruments will be used to support the company’s international expansion.
In the share issue implemented in cooperation with Innovestor Ltd between 9 May and 10 June 2016, Yepzon accumulated a total of €700,000 in capital. Other instruments to be put into use will raise the financing capacity to over €1 million.
– We plan to allocate the funds to growth in the current and new target markets. Alongside Europe and the United States, India has become an important area of focus where we are now opening our own production line. The launch in India not only increases growth but also improves our profitability considerably, says Otto Linna, founder of Yepzon.
– Yepzon’s financing round attracted not only new investors but also many of the current owners, which is a sign of their strong faith in the implementation of the strategy. In addition to growth in sales, the company’s product development is ahead of schedule, which is not at all typical for growth companies in the initial stage, says Tommi Äijälä, CEO of Innovestor.
Yepzon is also part of the Young Innovative Companies financing programme of Tekes – the Finnish Funding Agency for Innovation. The company succeeded in reaching the second stage of the programme with the most promising Finnish growth companies and will receive financing in the amount of €250,000.
In the coming months, Yepzon will launch a new Yepzon Freedom product that combines both alarm and location functions. In the autumn, a new kind of location service will be launched for the needs of industry and logistics.
– In the future, everything will be locatable. We are pioneers in this business and I do not see our speed of growth slowing down. I want to express my heartfelt thanks to all those who participated in the share issue and others who have invested in the future of our company, says Linna.
Otto Linna, CEO, Yepzon Oy, firstname.lastname@example.org, +358 43 217 0275
Tommi Äijälä, CEO, Innovestor Ltd, email@example.com, +358 50 364 1825
Yepzon Oy is the developer of easy-to-use mobile location services.Founded in 2013, the company has a staff of six and employs approximately 20 product developers on subcontracts. Yepzon is in entirely European and primarily Finnish ownership, divided between private investors operating in different fields. The company’s headquarters are in Tampere, Finland. Yepzon Ltd., registered in London, is a subsidiary completely owned by Yepzon Oy. Yepzon Inc., registered in Nevada, USA, is a joint enterprise with Global Expansion Solutions. www.yepzon.com