London-based investment bank, ARC Associates, has completed a debt and mezzanine equity fundraising of €10m for the US ruggedished mobile phone handset and “push to talk” software provider, Sonim Technologies Inc..
The €10m facility was arranged with Investec in London and will be used to finance the manufacturing phase of Sonim’s new range of ruggedised handsets. Sonim’s XP series handsets are waterproof, dustproof and shockproof and are sold via network providers like Telefonica, Vodafone and by retailers throughout Europe.
An additional $2 million of equity from existing investors 3i and BV Capital was also raised in a separate round of equity fundraising alongside the debt financing.
"ARC Associates has a profound knowledge of the telecommunications sector and was able to bring new insights and a thorough approach to our fundraising plans", said Bob Plaschke of Sonim Technologies. "ARC Associates has delivered a tremendous financing solution to our company and given us increased flexibility and strategic choice going forward."
"Sonim has a great track record in the mobile sector and an innovative product range with outstanding prospects. ARC was able to make the case for mezzanine and debt fundraising alongside the equity investment in order to accelerate the rollout of the new products", said John Allen Chairman of ARC Associates.
ARC Associates is a specialist investment bank and advisory firm serving the telecommunications, media and technology (TMT) market, along with the financial services and property sectors.
Contacts:
Bob Plaschke
Sonim Technologies
Bob.Plaschke@sonimtech.com
+650-303-0520
John Allen
ARC Associates
Pa-jaa@arcassociates.com
+44 207 614 4007
Gareth Thompson
Hunt Thompson
Gareth.Thompson@huntthompson.com
+44 207 256 6992
www.arcassociates.com