Sensoneo, a leading player in the global market of innovative solutions for waste collection and management, has closed a 1.2 million euro investment round backed by Slovak and Czech investors. It is the company’s second funding round, led by Crowdberry, a professional premium investment marketplace.
Sensoneo has achieved remarkable business results and significantly expanded its customer and partner base with the funds from its first investment round in 2017, backed by Credo Ventures, Y Soft Ventures and Crowdberry private investors. These results persuaded both new and existing investors to back Sensoneo again.
Credo Ventures and selected Crowdberry investors from the first round participated in the current round with the Sonoma group and dozens of new Crowdberry investors joining the investors base. New investors’ interest significantly exceeded the capacity of the investment round, so that the company had to refuse some investors.
“Sensoneo has developed an in-house technology solution for a waste management problem that cities and businesses are addressing worldwide. Sensoneo was inspired by the distribution model of renowned global suppliers and by sourcing and training sales and implementation partners in target markets was able to rapidly and successfully expand on a global scale. For this reason, the company is successful in business as well as in attracting investors. The results achieved with the funds from the first investment round manifested in an increase of the company’s value and with it the value of first-round investors’ ownership shares. Thus, many of them decided to participate in this follow-on round and decided to increase their investments. To us this is a testament to their satisfaction with the company’s development,” said Crowdberry partner Michal Nešpor.
Proceeds from the latest investment round will be used to further strengthen the company’s expansion on international markets, particularly Europe, North America and the Middle East. The funds will also be aimed at strengthening the R&D and customer support teams.
“We have been able to make a strong name for ourselves on the global smart waste management market particularly as a result of our technological excellence, innovative R&D and a strong team of diverse professionals. On a daily basis we receive several new business inquiries from attractive markets, including North America, the Middle East and Europe. We will now be able to serve these markets better and more effectively. It is our second investment round in a relatively short period of time, and I am pleased that investors see the potential of our company and enable us to unfold it to the fullest extent possible. We strongly believe that will further strengthen our current market position,” said Martin Basila, founder and CEO of Sensoneo.