Mobile Sensor Technology Company Acconeer AB Closes $7M Investment Round

Funds will enable completion of its 3D sensor A1 for commercial launch and mass production

LUND, Sweden -- August 29, 2016 -- Acconeer AB, a leading innovation company in the area of mobile sensors, announces that it has closed a SEK 60 million investment round. The new capital will be used to fund the completion of Acconeer's 3D sensor A1 for commercial launch and mass production, which is planned for early 2017.

Lars Lindell, CEO of Acconeer AB commented: "We are naturally very pleased with closing the investment round. Existing shareholders contributed with approximately 40% of the round leaving 60% for new investors. We have been able to add some industry veterans such as Jörgen Lantto, former CEO of Fingerprint Cards and Bert Nordberg, former CEO and Chairman of Sony Mobile, and many leading positions within Ericsson, as investors in this very ambitious project. We now have enough funds to start the process of commercializing our ultra-low power and millimeter precision sensor. We have a very solid interest from customers and will also start shipping evaluation boards to customers for their evaluation."

Jörgen Lantto comments: "Acconeer is about to complete the development of a 3D sensor with great potential. I am very impressed with the technology and the team and I am looking forward to follow them developing a world-leading technology company."

About Acconeer

Acconeer is a leading start-up company based in Lund, south Sweden, in Ideon, the country's hottest region for wireless technologies. Acconeer is developing a truly leading ultra-low power, high precision 3D sensor which will revolutionize the way that mobile devices interpret their surroundings. Acconeer's ultra-low power and millimeter precision sensor will be a robust and cost-effective solution for applications ranging from virtual reality and gaming to security and robot control. Information from the sensor can also be used to identify different materials, or for practical applications, such as taking measurements of your shirt size before you order online. These are just some examples of the wide range of possibilities of application areas for the sensor.

Acconeer was founded in 2011 by the technology entrepreneurs Dr. Mikael Egard and Dr. Mats Ärlelid, together with Mårten Öbrink, Professor Lars-Erik Wernersson and Lund University.

For more information: http://www.acconeer.com