Wirepas’ EUR 24 million financing from the European Investment Bank

Applex acted as legal counsel to Wirepas Ltd in a financing arrangement under which the European Investment Bank (EIB) provided the company with EUR 24 million in financing. A complementary equity financing round was also completed in connection with the transaction. Together, these arrangements support the company’s research, development and innovation activities as well as its international growth, particularly in the development of software platforms for the Internet of Things (IoT).

Wirepas is a Finnish technology company that develops scalable and reliable wireless mesh connectivity solutions for infrastructure-grade IoT applications. Its technology is used globally in, among other things, smart metering, building automation and asset tracking solutions.