

Joy Laoun
News Editor, Vestbee

The €1.12 million funding round came from a loan provided by the national development bank ILTE.

Freeda has already verified more than 10,000 plans for clients across Europe and North America and aims to reach one million verified plans by 2026, supporting projects in Europe, the UK, the US, and the Middle East.

The company is now targeting global markets as demand grows for compact, safe power sources in IoT and sensor-driven devices.

The €1.12 million funding round came from a loan provided by the national development bank ILTE.

Balnord plans to invest in at least 22 companies out of its Fund I, with initial cheque sizes ranging from €500,000 to €3 million.

Freeda has already verified more than 10,000 plans for clients across Europe and North America and aims to reach one million verified plans by 2026, supporting projects in Europe, the UK, the US, and the Middle East.