Capital/Financing Update • Jun 2, 2023
Capital/Financing Update
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KONGSBERG announces USD 90 million in investment in Kongsberg Digital by Shell Ventures and Idékapital
KONGSBERG today announced that Kongsberg Digital Holding ASA (KDI) has raised USD 90 million in investment by Shell Ventures and Idékapital. The funding and new investors will support and accelerate the future growth and development of Kongsberg Digital. The investment values Kongsberg Digital at USD 540 million post-money.
KDI continues to experience significant growth and is scaling globally with its next-generation software and digital solutions for heavy asset industries. Through KDI’s data platform Kognifai, KDI offers scalable next-generation software such as the dynamic digital twin Kognitwin and the vessel-to-cloud data infrastructure Vessel Insight. This and the established product portfolio enable KDI’s customers to operate their assets smarter, safer, and greener. Today, KDI serves some of the world's largest energy- and maritime companies.
Strong commercial traction
Since its establishment in 2016 KDI has developed to be a digital frontrunner in the digitalisation of the heavy asset industries, focusing on maritime, renewable- and energy industry. “Over the past year, KDI has signed several significant contracts, confirming the position as the frontrunner in the industry. Recently two major enterprise agreements have been signed with Shell and Chevron to provide digital twins to their global portfolio of assets. Today, KDI have gone live with assets across the globe and have more than 40,000 users on their digital solutions. Last year, in June 2022, KDI and Mediterranean Shipping Company (MSC), the world's largest container line, signed a contract for digitalising MSC’s entire fleet of more than 500 vessels. These are just some examples of contracts that confirm KDI’s position as the digital frontrunner”, says Geir Håøy, CEO of KONGSBERG”
About Shell Ventures
Shell Ventures is the corporate venture capital arm of Shell. With major offices in Europe, the USA, India and China, Shell Ventures invests in innovative technology companies, business models and growth plays to further the development of solutions and new technologies that have the potential to accelerate the energy and mobility transformation. Visit https://www.shell.com/shell-ventures to find out more.
About Idékapital
Founded in 2017, Idékapital is a venture and growth capital firm based in Oslo, Norway that invests in rapidly growing B2B software technology companies with a proven and scalable business model looking to grow and expand internationally. Idékapital focus on businesses with the potential to become global leaders within their category and which deliver technological innovation solving real problems and generating sustainable economic value and impact for their customers.
“We are very happy to welcome both Shell Ventures and Idékapital on board, and certain that they will support and amplified the future growth of KDI. Together we will unlock the value of KDI, says Geir Håøy.
Carnegie and DNB Markets part of DNB Bank ASA has acted as financial advisors to Kongsberg Gruppen.
CONTACT:
Ronny Lie
Chief Communication Officer
Kongsberg Gruppen ASA
(+47) 91 61 07 98
kongsberg.com
Simen Lilleslåtten
Vice President CEO-Office
Kongsberg Gruppen ASA
(+47) 91 14 90 01
kongsberg.com
Kongsberg (OSE-ticker: KOG) is an international, knowledge-based group that supplies high-tech systems and solutions to customers in the energy, merchant, navy and defence and aerospace industries. Kongsberg has more than 12,000 employees in 39 countries and had total revenues of NOK 31.8bn in 2022.
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