STOCKHOLM, June 20, 2023 /PRNewswire/ -- Taggr, a leading Swedish intelligent assets company, has successfully completed its Spring 2023 financing round, securing €1.2 million from venture capital firms Polar Structure and Capelin Ventures. This funding propels Taggr closer to its vision of becoming a global leader in intelligent assets across a range of key industries such as construction, transportation, logistics, and mining and quarrying.
Recognizing the transformative potential of intelligent assets technology and sharing risk with customers through its unique business model of selling information instead of a technical device, system, or service, Taggr has devised an unprecedented offer. This approach minimizes barriers to adoption, enabling customers and partners to deploy these advanced capabilities rapidly. With the Corporate Sustainability Reporting Directive (CSRD) soon to come into effect, Taggr's unique approach to measuring and reporting CO2e emissions will become indispensable for companies and cities seeking to be compliant with the European Sustainability Reporting Standards (ESRS). Both combustion-based and electrified equipment can benefit from capabilities that allow tracing back when, where, and how much energy was consumed.
According to reports within the construction equipment industry, Taggr's capabilities will be instrumental in achieving up to a 50% reduction in the carbon footprint of construction equipment.
This latest funding round signifies a vote of confidence from the investor community in Taggr's innovative approach and market potential. Polar Structure's investment is not just a financial endorsement but also a vital part of a strategic alliance to catalyze Taggr's growth trajectory.
The capital injection will be utilized to advance product development, scale operations, and broaden customer outreach. As Taggr navigates the emerging intelligent assets landscape, the backing of Polar Structure and Capelin Ventures will be invaluable. Their support will aid Taggr in capitalizing on this technology's immense potential and shaping a future where digital intelligent assets become an integral part of multiple industry verticals.
"Polar Structure invests holistically to contribute to transforming cities and communities to make them sustainable and more efficient. Our investment in Taggr exemplifies this commitment, as it enables precise monitoring of equipment and goods, forming the foundation for optimizing utilization and logistics - both of which are crucial factors in achieving net-zero goals," says Tobias Emanuelsson, Founder and CEO of Polar Structure.
For more information,
please visit - www.taggr.se
CONTACT:
Andreas Eriksson,
+4670-555 61 65,
andreas.eriksson@taggr.se
The following files are available for download:
https://mb.cision.com/Main/22535/3790552/2141258.pdf | Press release (PDF) |
View original content:https://www.prnewswire.co.uk/news-releases/correction-taggr-raises-1-2m-for-its-intelligent-asset-service-an-essential-component-in-achieving-net-zero-goals-301855298.html
