Finnish startup Noccela raised €1.2 million through a direct share issue. The company did not name the new investors, but said 89 percent of the funding comes from the Netherlands, while the remaining shares were bought by Finnish investors. Existing investors were included in this group.
Noccela said it will use the funding to export its loss-prevention solution for retail shops. The cloud-based system works to protect retailers' property and prevent shoplifting and identify techniques used by shoplifters.
“Once an alarm occurs, information about the attempted theft and its location is sent to, for example, the security guard’s mobile application while the product is still within the shop,” Riku Miettinen, Noccela’s director of sales, said in a press release. “Furthermore, the alarm knows which product it is protecting.”
Read more: Noccela (Press release)