KONGSBERG announces USD 90 million in investment in Kongsberg Digital by Shell Ventures and Idékapital

02 Jun 2023 08:30 CEST

KONGSBERG today announced that Kongsberg Digital Holding ASA (KDI) has raised
USD 90 million in investment by Shell Ventures and Idékapital. The funding and
new investors will support and accelerate the future growth and development of
Kongsberg Digital. The investment values Kongsberg Digital at USD 540 million
post-money.

KDI continues to experience significant growth and is scaling globally with its
next-generation software and digital solutions for heavy asset industries.
Through KDI’s data platform Kognifai, KDI offers scalable next-generation
software such as the dynamic digital twin Kognitwin and the vessel-to-cloud data
infrastructure Vessel Insight. This and the established product portfolio enable
KDI’s customers to operate their assets smarter, safer, and greener. Today, KDI
serves some of the world's largest energy- and maritime companies.

Strong commercial traction
Since its establishment in 2016 KDI has developed to be a digital frontrunner in
the digitalisation of the heavy asset industries, focusing on maritime,
renewable- and energy industry. “Over the past year, KDI has signed several
significant contracts, confirming the position as the frontrunner in the
industry. Recently two major enterprise agreements have been signed with Shell
and Chevron to provide digital twins to their global portfolio of assets. Today,
KDI have gone live with assets across the globe and have more than 40,000 users
on their digital solutions. Last year, in June 2022, KDI and Mediterranean
Shipping Company (MSC), the world's largest container line, signed a contract
for digitalising MSC’s entire fleet of more than 500 vessels. These are just
some examples of contracts that confirm KDI’s position as the digital
frontrunner”, says Geir Håøy, CEO of KONGSBERG”

About Shell Ventures
Shell Ventures is the corporate venture capital arm of Shell. With major offices
in Europe, the USA, India and China, Shell Ventures invests in innovative
technology companies, business models and growth plays to further the
development of solutions and new technologies that have the potential to
accelerate the energy and mobility transformation. Visit
https://www.shell.com/shell-ventures to find out more.

About Idékapital
Founded in 2017, Idékapital is a venture and growth capital firm based in Oslo,
Norway that invests in rapidly growing B2B software technology companies with a
proven and scalable business model looking to grow and expand internationally.
Idékapital focus on businesses with the potential to become global leaders
within their category and which deliver technological innovation solving real
problems and generating sustainable economic value and impact for their
customers.

“We are very happy to welcome both Shell Ventures and Idékapital on board, and
certain that they will support and amplified the future growth of KDI. Together
we will unlock the value of KDI, says Geir Håøy.

Carnegie and DNB Markets part of DNB Bank ASA has acted as financial advisors to
Kongsberg Gruppen.

CONTACT:
Ronny Lie
Chief Communication Officer
Kongsberg Gruppen ASA
(+47) 91 61 07 98
ronny.lie@kog.kongsberg.com
kongsberg.com

Simen Lilleslåtten
Vice President CEO-Office
Kongsberg Gruppen ASA
(+47) 91 14 90 01
skl@kog.kongsberg.com
kongsberg.com


Kongsberg (OSE-ticker: KOG) is an international, knowledge-based group that
supplies high-tech systems and solutions to customers in the energy, merchant,
navy and defence and aerospace industries. Kongsberg has more than 12,000
employees in 39 countries and had total revenues of NOK 31.8bn in 2022.
Follow us on: kongsberg.com, Facebook, Twitter and LinkedIn

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