OTee, an Oslo, Norway-based deep tech startup focused on industrial automation software, has secured €1.25 million in funding.
SaaS Investors
The round was led by Norwegian venture capital fund RunwayFBU and Estonian fund Superangel, with participation from Antler, StartupLab, and angel investors including Gunnar Evensen, Trond Riiber Knudsen, Snorre Larsen and Olav Slupphaug.
RunwayFBU is an early-stage venture capital firm based in Fornebu, Norway. Founded in 2021, the firm seeks to invest in software companies.
Founded in 2018, Superangel is an angel group based in Tallinn, Estonia. The firm seeks to invest in artificial intelligence, robotics, mobility, logistics, fintech, and SaaS sectors.
OTee Use of Funds
The funding will be used to propel OTee into a new operational phase and solidify its position as a robust international startup.
About OTee
Founded in 2022 by Henrik Pedersen and Radek Janik, OTee offers a B2B SaaS engineering platform for designing, deploying, and managing virtual control systems based on open architecture and standards. The company’s applications range across almost all industries. The company is on a mission to revolutionize the world of industrial automation.
Funding Details
Company: OTee AS
Raised: €1.25M
Round: Unknown
Funding Month: February 2024
Lead Investors: RunwayFBU and Superangel
Additional Investors: Antler, StartupLab, Gunnar Evensen, Trond Riiber Knudsen, Snorre Larsen, and Olav Slupphaug
Company Website: https://www.otee.io/
Software Category: Industrial Automation
Source: https://www.eu-startups.com/2024/02/oslo-based-otee-bags-e1-25-million-to-be-a-driving-force-in-the-disruption-of-industrial-automation/