Shell Ventures and Idékapital invest NOK 1 billion in Kongsberg Digital

industry

The technology company was valued at NOK 5.9 billion after the transaction.

Kongsberg GroupAlibi Digital delivers high-tech systems and solutions to customers in everything from the marine, oil and gas industry, and commercial fleet to the defense, aerospace, and renewable industries. The company also has its own investment arm which has invested in a number of Norwegian start-ups.

go now Shell Ventures And Idea capital Along with the owner, by a deal altogether $90 million – Approximately NOK 990 million at today’s exchange rate.

The parties state the valuation of Kongsberg Digital at US$540 million, approximately NOK 5.9 billion, post-transaction. This means that the two new investors will have joint ownership of just under 17 percent.

According to a press release from Kongsberg Digital, the new ownership structure will ensure “smarter, safer, and greener operations across industries and more broadly.”

“This financial support enhances our ambitions for further growth, and positions us to become a significant global player with technology and digital solutions for heavy industries,” says Shane McArdle, CEO of Kongsberg Digital, in a press release.

Idékapital has a broad portfolio consisting of a number of Norwegian growth companies. In a post on Linkedin, the investment firm wrote that the placement at Kongsberg Digital is fully in line with its strategy.