Aabø-Evensen & Co has acted as legal advisor to XeThru by Novelda in connection with a private placement of USD 15 million

Novelda AS, a privately held, R&D driven, sensor company based in Norway and specialising in nanoscale wireless low-power technology for ultra-high resolution impulse radar, raises gross proceeds of USD 15 million (approximately NOK 122.5 million) to further develop the Company’s unique radar sensor technology into finished consumer products and to grow the organisation.

Novelda’s XeThru Impulse Radar is a complete CMOS radar system integrated on a single chip. This technology is used to implement a high-precision electromagnetic sensor for human vital sign monitoring, personal security, environmental monitoring, industrial/home automation and other novel sensor applications. The Company has 35 employees in Norway, US and Asia.

Aabø-Evensen & Co acted as legal advisor in relation to the Private Placement in XeThru by Novelda. To learn more about Novelda’s XeThru Impulse Radar, please click here (https://www.xethru.com/).