NetScientific PLC (LON:NSCI) said its venture capital arm was pivotal to a £3.4mln equity raise for a maker of smart sensors that will help businesses maintain social distancing in post-COVID offices.
EMV Capital advised on the syndicated funding round for PointGrab, which included a £60,000 direct contribution from NetScientific.
PointGrab’s technology has been deployed in over 200 locations across five continents and offers an “immediate and integrated solution to the problems facing commercial real estate manager and companies as restrictions are lifted”.
Its chief executive, Doron Shachar, said: “Our platform enables creative and stress-free working environments by providing real-time data and flexibility to employers, compliant with new health and safety regulations.
“PointGrab is expanding to help its customers adjust to this new business landscape, accelerating the return to business as usual, while reducing public health risk.”
PointGrab is one of the 17 portfolio companies of NetScientific, which invests in life sciences and sustainability technology. EMV Capital is its investment management operation, which advises on syndicated funding such as PointGrab’s.