We are proud to say that our company received an investment of 3.3 million euros from existing and new shareholders, which sets the post-money valuation watermark of the company above EUR 45 Million. Until now, Freeeway AG’s operations have been financed purely by organic free cashflow.
Our plans with the investment are set to accelerate our already global market penetration for the industrial and consumer IoT connectivity subscription business. We will considerably strengthen all operational units, marketing & sales, customer support, and product management. On the product side, we focus on our Freeeway AGORA platform to provide our clients the tools to monetize IoT subscriptions and mobile data plans as part of their connected products and services.
Our CEO Harald Fuchs said: “This pre-series A investment is a significant milestone for Freeeway AG. It gives us the funds to be the first company that enables IoT subscription business for companies across industries, fully automated and to scale our IoT connectivity business”.
About Freeeway AG:
Freeeway AG is an Austrian stock company founded in 2014 and based in Vienna. The company has achieved profitability by connecting more than +300 industrial and +32.000 retail customers with more than 650 mobile operators to date.
Vienna, Austria June 2022