Major bank backs Shape Robotics in ambitious entry into Europe together with Samsung Electronics
Company announcement no. 75
Copenhagen, July 19, 2022
The announcement contains inside information.
The Danish Edtech company Shape Robotics has now secured full financing from a major bank supporting the ambitious growth plans into the European Edtech markets. One of the largest and oldest investment banks in Romania, BRD - Groupe Société Générale, has granted Shape Robotics a € 3M credit facility, thereby securing working capital for the ambitious growth plans aligned with strategic partner Samsung Electronics (as described in company announcement no. 73.)
“With the financial support from Danske Bank and EKF in Denmark and the 3 million euros from BRD - Groupe Société Générale in Romania we have secured working capital for our growth strategies. We are in a pole position to enter the enormous European Edtech market. We now have a unique and increasingly popular technology. We have the backing of extremely strong partners, and we are becoming profitable. All in all this a positive perfect storm for Shape Robotics and I would like to thank investors, partners and of course our top performing team in both Denmark and Romania“ says CEO André Fehrn.
The now official partnership and distribution agreement with Samsung formally embraces Shape Robotics as key partner of Samsung Ecosystem for Education Development (SEED).
Building a European EdTech Ecosystem
Samsung Electronics and Shape Robotics is joining efforts to facilitate and deliver a plug and play package of technology solutions to school systems in Central and Eastern Europe (CEE region) to be implemented over the next three years and to be expanded to cover the whole of Europe within the next five years.
With more than 3 billion euros already allocated to the digitization of the education system in Romania the European Union and the Romanian government is firmly committed to create a better understanding of technology, aiming to empower new generations and nations to embrace the future. Shape Robotics is alongside Samsung Electronics supporting this mission by building an eco-system of educational technology that aims to be replicated and implemented in Romania and the rest of the CEE countries.
Shape Robotics is already delivering their groundbreaking plug and play SmartLab projects and tapping into various projects and tenders all over Romania with Romanian partner INACO, also recently delivering the first Smart lab to the neighboring country of Moldova.
Shape Robotics expects to achieve positive EBITDA in the second half of the financial year 2022, and a revenue of M.DKK 75-85 in 2022.
Additional information and investor relations
André Fehrn, CEO Shape Robotics A/S
Tlf. (+45) 2444 8556
Email: ir@shaperobotics.com
Rugmarken 18, 3520 Farum, Denmark
CVR-nr. 38322656
www.shaperobotics.com
Certified advisor contact
Norden CEF A/S
John Norden Tel: +45 20 72 02 00
Email: jn@nordencef.dk
www.nordencef.dk
Communication:
Gullev & Co. ApS
Boris Gullev
Phone: +45 31 39 79 99
E-mail: borisgullev@gmail.com
www.gullev.co