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BOW Group Closes Series B FundingThe BOW Group announces today that it has closed its series B funding, led by PM Equity Partner (PMEP) and NextStage, the investment company listed on the Euronext Paris regulated exchange, NextStage, also participated in the financing round. BOW (Be Over the World) Group is a fast growing and consumer driven Internet-Of-Things (IOT) specialist, operating worldwide in the wearables, connected vehicles and smart home markets with 3 distinctive brands MyKronoz, RoadEyes and Deconnect. "This new round of funding will enable us to expand our international presence to 100 countries by 2018 and to consolidate our leadership position in Europe while accelerating the development of innovative products and services within the IOT space. These investments will allow us to take the steps needed to fulfill our ambition to become a billion-dollar company in the next 5 years," says Boris Brault, Chairman and CEO of BOW Group. Mr. Brault remains BOW's majority shareholder. Since its 2015 €10 million series A financing led b NextStage, BOW Group has demonstrated strong growth and profitable operations. BOW has over the last few years gained significant expertise in developing and launching IOT products through digital marketing and community engagement. Fueled by ambition and innovative vision, BOW Group has proven its ability to conquer new markets through a bold and winning commercial strategy combining traditional retail and digital channels. BOW has today sold more than 2.5 million devices. The Swiss wearable brand MyKronoz is a strong asset of BOW Group. MyKronoz has in less than 4 years, established itself as a fierce challenger to both tech and traditional watchmakers, and is now considered one of the most promising startups in the smartwatch industry. "Having backed BOW Group from its early beginning and helped them structure the 3 companies, we are proudly witnessing their ability to deliver innovations and scale up their business to compete in this fast-moving landscape. The Internet of Things market is set to hit $267B by 2020, and we are confident to be in an even stronger position today to take part, together, in this revolution," says Nicolas de Saint Etienne, BOW Board member and Managing Partner at NextStageAM.
About BOW: BOW (Be Over the World) Group is a fast-growing and
consumer-driven IOT specialist, operating worldwide in the wearables,
connected vehicles and smart home markets with 3 distinctive brands MyKronoz,
RoadEyes
and Deconnect.
About NextStage:
About PM Equity Partner: View source version on businesswire.com: http://www.businesswire.com/news/home/20171113006212/en/ |