Croatian Smart City solutions firm Include raising new capital to meet growing demands

(Photo: Include)

Croatian company Include is announcing a major investment round planned for late 2022, and in its latest campaign on the Funderbeam platform, they are securing capital to meet growing demand and accelerate new product orders.

Founded by Ivan Mrvoš, the Solin-based company, a manufacturer of Smart City solutions used in 59 countries and more than 500 cities around the world, launched a new fundraising campaign on the Funderbeam platform 2 December in front of many interested investors at HUB385 in Zagreb.

(Photo: Include)

This is Include’s third campaign on the Funderbeam platform, after they became the first Croatian company on that platform in 2017, and in 2019 set a record for the largest Croatian campaign on the platform to date, with 1.5 million euros raised.

“This round will be smaller than the previous one, and the goal is to secure less funding to scale production processes to meet growing demand, and successfully lead the company to the realisation of the B round we plan next year,” said Mrvoš at the presentation of the new campaigns.

(Photo: Include)

In his presentation, Mrvoš stated that this is a kind of pre-series B round, in which they intend to raise between 400 thousand and 1 million euros. In their latest financial promotion, they point out that they have passed the first phase of the EIC accelerator, and are working on the preparation of the second phase with the aim of realising an investment worth 5.5 million euros by the end of 2022.

Aerys_X_model (Photo: Include)

(Photo: Include)

“The last two years have been extremely turbulent for many companies, especially startup companies. Despite all the challenges, Ivan and his team have focused on developing new solutions, and will end the global pandemic with new products that address some of the biggest global challenges we face today, such as waste management or air quality monitoring,” said Ivana Šoljan, who is playing the role of Lead Investor for the third time.

Include production (Photo: Include)

“The success stories of Include and Funderbeam SEE testify to the liveliness and innovation of Croatian entrepreneurs, as well as the fact that there are investors able to recognise the great potential of development beyond the previously known investment and growth models. As the co-founder of Funderbeam, the Zagreb Stock Exchange is extremely proud of their successes, as well as other success stories about raising capital on our platforms. The third round of Include, our first campaign at Funderbeam SEE, is proof that with an adequate financial environment we can ensure the growth of companies that have the potential to list on the Zagreb Stock Exchange in the future, thus making a significant contribution to the Croatian financial market,” said CEO of the Zagreb Stock Exchange Ivana Gažić.

Solos IoT platform (Photo: Include)

The company, which has been building visibility on Steora smart benches since 2015, moved in the direction of producing systems that contribute to solving some of the biggest global challenges of today at the end of 2020. 

Terra public can (Photo: Include)

In addition to the recently introduced Aerys air quality measurement stations, Include also manufactures waste management solutions. Last year, Terra bins were introduced, which reduce waste collection by 80%, which reduces CO2 emissions and waste collection costs.