Horus Technology, an Italian startup that combines technologies taken from robotics, health tech and augmented reality to enhance the lives of the blind and visually impaired, announced on Wednesday it has received a $900,000 investment from 5Lion Holdings.
“Today begins a new phase for Horus: we raised an investment of $ 900,000 by 5Lion Holdings. An important step to achieve our goal of making Horus available by the end of this year!”
During 2015, Horus Technology grew by 400% thanks to a number of prestigious awards such as the Idea Challenge by EIT Digital, Unicredit Startlab, IBM Smartcamp and the successful crowdfunding campaign on the TIM WCAP Accelerator platform. Additionally, it took part in the TIM WCAP 2014 acceleration program.
Chairman and CEO of 5Lion, Andrew Welters, stated:
“We are excited to be part of Horus Technology, a great company with strategic vision. They will certainly grow exponentially and help millions of visually impaired regain their independence.”
President of 5Lion, Nicholas Michalak, also commented:
“This is the right time to join forces. We believe we can provide Horus with all the connections and tools necessary to redefine the wearable device market.”
“We are very pleased to have a partner like 5Lion, absolutely aligned with our future strategy. We are confident that through this investment we will have the necessary support for our entrance into the U.S. market.”
Luca Nardelli, CTO of Horus Technology, added:
“This investment will enable us to be ready to enter the market by the end of 2016 and support our growth.”
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