The innovative SME To Be closed a crowdfunding campaign on Mamacrowd for 900,000 euros, reaching the set goal in less than a month.
Several institutional investors also invested in the Li-Fi technology proposed by the company, capable of transmitting data through LED light, including AZIMUT ELITF – Venture Capital ALIcrowd III and Magic Spectrum, an accelerator dedicated to the connectivity of the National Accelerator Network of CDP-Cassa Depositi e Prestiti, Digital Magics and Fondazione Compagnia San Paolo.
Read more about To Be crowdfunding campaign and find the most important business news of the day with the Born2Invest mobile app.
To Be after crowdfunding
The funds raised will be used by the team mainly to expand its team, with the aim of strengthening the company structure in different areas. To Be, in fact, is looking for talents with an international background, possibly with experience in terms of scaleups in the ICT sector.
Various resources will be invested in the creation of strategic and commercial partnerships with players in the TLC sector, System Integrators and design studios and to begin to appear on international markets starting from some European countries.
The actual internationalization of the company, and the related commercial scaleup, will be the subject of a future round that will be launched in the next 24 months. Among the upcoming objectives there is also that of accelerating the developments of the LiFi Zone platform, improving the services already present and which generate revenues and developing new features to expand the offer of services provided by the platform, with particular attention to inclusion social.
On the marketing side, the mission is to scale the target markets by diversifying the offer on the various sales channels, direct and indirect.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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