SmartCap and Firepower Ventures investment into Defendec October 04, 2012

SmartCap, an investment company, part of the Estonian Development Fund invests together with co-investor Firepower Ventures OÜ in the Estonian technology company Defendec OÜ, with up to 1.2 million euros in international potential. 

SmartCap board member Heidi Kakko says that Defendec is the perfect investment, because they offer a high-tech and internationally competitive product, and have a clear plan for international expansion and growth. "Defendec offers a clear and understandable solution to a universal problem: there are thousands of kilometres of borders and structures that are difficult or impossible to guard effectively; there is simply not enough people or money," remarked Kakko. "The problem can be solved with Defendec's sensor devices, which today are already well-established on NATO's eastern borders. SmartCap believes in this business and supports the implementation of an ambitious business plan."

 

Defendec OÜ is an Estonian technology company that is focused on the development and sales of a new generation of Smartec wireless border and perimeter protection technology. The company's main clients would be the border protection agencies of many nations. The guarding of critical infrastructure has a good potential too. New investments would create opportunities and even greater volumes of sales in Smartec surveillance technology and new development of product families.

 

Jaanus Tamm, director of Defendec OÜ said, that Defendec has big plans to take their products into foreign markets, which will create great challenges for owners and team members. "Defendec offers SmartCap and Firepower Ventures ownership by investors, whose contact network and experience give companies more in the long run, than just the amount of the investment."

 

The help of Defendec's electronic border guard solutions underpins the police and border guard of Estonia in border surveillance. In addition to Estonia, Defendec's developed products are used in the border protection agencies of Romania, Albania, Montenegro, and Ukraine, as well as many other organisations across the world. In March of this year, the Estonian Defence Forces wrote an agreement for cooperation in innovative protection technologies, and equipment development and testing.

 

Tõnis Arro, CEO of the Estonian Development Fund said, that the Development Fund's investment in Defendec OÜ is AS SmartCap's first investment in the new venture capital fund Early Investing Fund II. "Since the beginning of the Estonian Development Fund's investment activities in 2008, the level of Estonian start-ups has soared, and the need for venture capital remains high. We are pleased that with the new fund we are able to provide new innovative Estonian companies with the necessary capital."

 

AS SmartCap is a subsidiary of the Estonian Development Fund, which operates as a venture capital fund management company under the Investment Funds Act.

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