Waturu's IPO bringing intelligent water technology to the next level
The Danish startup Waturu conducts an IPO at Nasdaq First North. The goal is to raise between 20 and 23 million Danish kroner to grow the organization and set up a full-scale semi-automated production in Denmark. The Accelerace alumnus Waturu is going public at Nasdaq First North, the alternative stock exchange for small growth-focused companies in the Nordics. They aim at raising between 20 and 23 million Danish kroner with their energy-efficient decentral water heater. “To commercialize Waturu’s potential, we need capital to initiate the setup of full-scale semi-automated production, grow our organization, and deploy bigger marketing efforts. An IPO ensures transparency for our investors and grants them the opportunity to buy and sell without being tied down by ownership agreements which make transactions more difficult,” says Toke Reedtz, CEO of Waturu. He also sees a great opportunity to ride the wave of attention such an IPO will create. Thereby, Waturu’s brand perception will be reinforced and the desired ambassador effect to enhance sales generated. “Moreover, an IPO on Nasdaq First North gives us the financial structure to keep Waturu on Danish ground and still let us access international capital networks in the coming growth phase and tap into partnerships around the world,” says Toke Reedtz.