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Existing investors such as Dawn Capital LLP and SEB Pension Fund also contributed fresh funds, with the extra money intended to help Gelato spread its reach in the U.S. and Asia.
Gelato says it expects the market for the kind of customized software products it makes to grow from $230 billion to more than $320 billion by 2025. “Our platform is taking an active part in transforming global manufacturing as we know it,” said the company’s founder and chief executive, Henrik Muller-Hansen.
Founded in 2007 and headquartered in Oslo, Gelato saw annual revenue growth of 120% in the second quarter of this year.
Source: Mergers&Acquisitions
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