Novelda raises $12 million, changes CEO

December 13, 2016 // By Peter Clarke
Novelda AS (Oslo, Norway), a developer of sensors based on CMOS ultra wideband impulse radar, has raised $12 million in a funding round and appointed Cornelia Mender as CEO, replacing Alf-Egil Bogen. Bogen continues to serve the company as chairman of the board of directors.

Novelda has used its UWB impulse radar transceiver to develop contactless sensor technology under the name XeThru, which can be used as a remote vital signs monitor. The company said it would use the funding to take XeThru to high volume production. Applications of the technology include: baby and general sleep monitoring systems, respiration rate monitors, elderly care, and fitness, health, welfare and lifestyle products.

XeThru sensors can also be used for "true-presence" sensors in buildings for HVAC and lighting control, for surveillance and automation applications.


Cornelia Mender, CEO of Novelda AS

Cornelia Mender has joined Novelda as CEO from GE Vingmed Ultrasound where she led the supply chain operation for cardiovascular ultrasound systems. Before GE, Mender was head of R&D at Kongsberg Maritime. Prior to that Cornelia gained experience of product and service development in the telecoms industry from working for 11 years in the Telenor Group. Mender has an MSc in Industrial Economy and Technology Management from the Norwegian University of Science and Technology.

"Cornelia has a great track record of technology leadership and I look forward to working with her as we take the company forward to become a market leader in advanced sensors," said Bogen in a statement.

Related links and articles:

www.investinor.no

www.xethru.com

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