Vancouver’s Tracesafe has secured USD $3 million from institutional investor Arena Investors to accelerate their growth agenda.
TraceSafe is a global leader in location-aware Internet of Things (IoT) for large-scale industrial and enterprise operations.
TraceSafe quietly emerged in the summer of 2020 thanks to its wearable COVID-19 contact tracing and self-quarantine management technology and was among the finalists in BC TECH 2021 Awards in the Excellence in Technology Adoption category.
The transaction in the form of a convertible note will help pave the way for executing on larger value creating products and milestones for customers and shareholders in the upcoming months.
“It has been a remarkable year in performance for TraceSafe. This financing will propel us into the next phase of our growth that starts with expanding our reach into the U.S. capital markets and client pool,” said Wayne Lloyd, TraceSafe CEO.
“Every organization is facing unique challenges in driving sustainability and efficiency in their operations. With our proven ability to evolve quickly and solve problems effectively, we are well-placed to become a one-stop solution for the organizations that are ready to transform for a sustainable future.”
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TraceSafe’s tech had been deployed across governments, enterprises and even iconic sports tournaments like the 2021 World Junior Hockey Championships and the Calgary Stampede.
Interestingly, the medtech company started out tracking maternity wards in New Zealand after the country reported a troubling number of infant abduction cases. Using wristbands, doctors and hospital staff could check a dashboard to see where an infant was on the maternity ward. If one of the babies was taken outside of the ward, a notification was sent to the staff’s mobile phones.
TraceSafe has continued to evolve past their pandemic pivot and now provides its customers with a world-class IoT platform built on its proprietary proximity-tracking technology.
Among the industries that have adopted TraceSafe’s technology are cruise lines like Royal Caribbean and oil & gas where their wearable technology will be used to ensure health and safety of employees, contractors and site visitors at oil field operations.
TraceSafe was also chosen by a Fortune 500 semiconductor manufacturer to implement a wearable safety tech solution across their global footprint of 60,000 workers.
TraceSafe is publicly traded on the Canadian Securities Exchange under the symbol TSF.
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