The board of directors of EPTI AB (publ) ("EPTI" or the "Company") decided on 24 April 2023 to adopt a new strategic direction, which means that EPTI will become a pure investment company with a focus on artificial intelligence...
EPTI AB (publ)'s portfolio company Linky AB (publ) announces today a completed financing round of approximately 11 million SEK at a pre-money valuation of about 35 million SEK. The issuance was subscribed by existing owners and new investors, including EPTI and Angelgate AG, with a combination of a cash issue of 2.25 million SEK, where board members in Linky and EPTI subscribed for about 300,000 SEK that are conditional on general meeting decisions, and an offset issue of 8.75 million SEK. EPTI's holding in Linky amounts to 68 percent, of the votes and capital, after the completed post-money financing round of approximately 46 million SEK.
Linky's unique AI-driven Platform-as-a-Service solution enables companies, operators, and landowners to easily manage, maintain, and charge for their inventory of parking spaces and charging stations. The product has both a regular app and a fully web-based app (PWA) that allows for an app-free and account-free flow without the requirement of registration to book and pay for parking and charging directly through a simple URL or QR code.
After the completed financing round, Linky significantly lowers its debts and is also projected to reach cash flow neutrality in 2023 while maintaining a continued growth of approximately 20% month-over-month (MoM) throughout 2023.
Since 2022, Linky has a 10-year exclusive customer agreement with Parkman, one of Sweden's largest parking operators with facilities such as Friends Arena, Nordstan, Mobilia Malmö, etc. In 2022, Parkman also acquired Parking Partner, strengthening Linky's position in the market. After the acquisition, Parkman is estimated to have a turnover of over 500 million kronor where Linky's agreement covers all digital ticket sales. In the coming weeks, an addition of 85 new facilities will be added, on top of the 95 facilities Linky already owns.
"This successful capital round and Linky's continued work with their app-free and account-free flow, as well as AI application, show that Linky is a key player in the industry and highlights the company's commitment to striving to create a more modern and efficient parking experience for the future. We look forward to following Linky's journey as they continue to drive innovation and growth within the parking sector." – Arli Mujkic, CEO founder EPTI
"I’am pleased that after all the hard work we’re projected to reach cash flow neutrality at the end of the year. This while we continue to roll out Scan-&-Pay to more facilities together with new AI features to optimize parking management and automated secondary leasing. It is very clear that with the help of AI we will be able to increase revenue and margins compared to before. I’m eagerly look forward to Linky's continued development." – Sasa Farkas, CEO and co-founder Linky
For further information, please contact:
Arli Mujkic, CEO, EPTI AB
Phone: +49 176 626 999 64
EPTI is an investment company focusing on artificial intelligence (AI). The company has a deep understanding of the latest AI technologies and actively guides its portfolio companies with implementation and development of AI-based services. The headquarters is located in Stockholm. EPTI's shares are listed on Nasdaq First North Growth Market and admitted to trading on Börse Frankfurt Open Market.
For more information, see EPTI’s website www.epti.com
The Company’s Certified Adviser is Eminova Fondkommission AB | +46 (0)8-684 211 00 | firstname.lastname@example.org