December 1, 2016

Noccela bags EUR 1.2 million of private equity

According to Noccela, only two per cent of shoplifters are caught.
According to Noccela, only two per cent of shoplifters are caught.
istock.com/stnazkul

The Finnish startup raised the money through a directed share issue, the aim of which was to raise funds for export.

Almost 90 per cent of the raised funds come from Dutch investors, and the remaining share from investors in Finland. Along with them were investors who have previously funded the company.

The Turku-based company has launched a loss-prevention solution to protect shops’ property and prevent shoplifting. The alarms are connected to a cloud and they identify different techniques used by shoplifters. The accurate indoor positioning developed by Noccela allows the alarm to know its position within the shop.

“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,” says Riku Miettinen, Noccela’s director of sales. “Furthermore, the alarm knows which product it is protecting.”

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