A safety start-up with growth potential is expected at the Tallinn Stock Exchange
Tehnopol’s green technology company Bercman Technologies plans to get a green light to issue shares in the alternative market First North in the coming weeks.
Bercman Technologies is developing smart city solutions in the form of smart pedestrian crossings that alert both pedestrians and drivers in the event of danger. Smart pedestrian crossings have already been set up in Estonia’s largest municipalities – see what it is here.
According to Kuldar Leis, Chairman of the Supervisory Board, road safety is a big issue everywhere and the company intends to expand to Europe, where their solutions have already been sold through resellers.
Because of the expansion, it has been decided to enter the stock exchange to introduce the issues of traffic safety through the shareholders. The amount of money involved is approximately 700,000 euros, depending on the interest. A listing committee is taking place this week, and it is hoped that a green light will be issued in the coming weeks to issue shares.
Mart Suurkask, the CEO and founder of the company, said that the company, which has been operating for four years, has so far placed emphasis on developing the concept of the main product Smart Crossing, in order to prevent avoidable traffic accidents. “We have developed a Smart Crosswalk based on machine vision, with which we are ready to enter foreign markets. One of the goals for 2021 is to develop a sales strategy and create external partnerships, which we have now started with. We are currently negotiating and actively engaging with the Croatian, UK, Greek, German and Spanish markets. We have delivered the first device to the UK, and next week we will send the equipment to Croatia’s largest telecom operator A1. As sales capacity grows, Bercman also wants to enter other Western and Central European countries (including Belgium, Slovenia, Slovakia, France, the Netherlands and the Czech Republic), where negotiations with potential partners are already underway today. ”
Regarding the initial public offering of the company’s shares, Mart added: “The company’s ambitions are high and we plan to invest the money raised in the IPO in the company’s growth. We will further develop existing and new products and invest in expanding our export activities through international resellers. ”
According to Leis, the choice to list its shares on the First North stock exchange, not on Funderbeam, for example, helps to put oneself on the same level in the eyes of Western partners. Nasdaq is a well-known brand in Europe and also helped the small Linda Nektar become an equal partner for foreign companies, says Leis.
Read the original article on the FoundME portal.