Yepzon, a Tampere, Finland-based developer of location devices and services, raised over €1m in financing.
The share issue was implemented in cooperation with Innovestor Ltd (€700k) while other instruments raised the financing capacity to over €1m.
The company intends to use these funds for product development and international expansion in Europe, United States, and India.
Founded in 2013 and led by Otto Linna, CEO, Yepzon develops use mobile location services. The company, which has a staff of six and employs approximately 20 product developers on subcontracts, will soon launch a new freedom product that combines both alarm and location functions and a new kind of location service for the needs of industry and logistics.