Geldards has played an integral part in securing £3m in Series A funding for Welsh smart building technology company, enModus, from three main investors including one of the UK’s largest shopping centre owners.
Corporate lawyers at Geldards acted for Breed Reply who invested alongside intu and Finance Wales.
The £3m funding, brings total investments to date to £9m, will help the company accelerate its growth across Europe, North America, Asia-Pacific and beyond.
Senior lawyer at Geldards, Martyn Davies commented on the transaction:
“We’re delighted to have advised Breed Reply on this investment. Their significant experience in scaling up early stage businesses and their understanding of the ‘Internet of Things’ market will assist enModus’ expansion.”
enModus, based in Chepstow, Wales, has developed powerline technology which enables property owners to control, monitor and connect to the internet anything that is mains powered in a building at a fraction of the cost of existing solutions, with considerably less installation disruption. Its patented technology, Wattwave, can transform any industrial, commercial or retail property into a smart building, simply by connecting all devices to the cloud via the existing power line.