Swedish Startup Space

Jane Walerud Sells Teclo Networks – Frees Up Capital For Investments

Written by on April 22, 2016
Editors Note: This post is part of a series called , presented by Breakit.

SUPER ANGEL AND ENTREPRENEUR JANE WALERUD SELLS HER COMPANY TO A LISTED CANADIAN COMPANY.

15 years ago, Jane Walerud and her co-founder sold their tech company Blue Tail for $185 million (1.5 billion SEK). She then became one of Sweden’s most successful angel investors with early investments in companies like Klarna and Lensway. She has had an average return on investment of 60 percent per year.

But in 2010 Jane Walerud started her second company with a new team. Teclo Networks and developed a technology that radically increases the speed of mobile broadband.

Jane Walerud and the other co-founders are now selling Teclo Networks to a listed Canadian company called Sandvine. The deal was formally when Sandvine presented its quarterly report in early April. How much Sandvine payed has not been disclosed by any of the parties. Jane Waleruds says that it was “a good exit”, but does not go into financial details.

However, she does reveal that she is shifting more focus towards her career as an angel investor. The first investment has already been made.

“Last week I joined the board as chairman at the Gothenburg-based company Satcube, which I have also invested in”, says Jane Walerud.

Satcube has developed a solution that compresses and improves data transmission in areas with limited cellular network coverage, like war zones or remote areas. Satcubes end users are often journalists, aid organizations or military forces.

Satcube has recently received a loan from the European Investment Bank of $1.2 million (10 million SEK). The money is now being matched with a new share issue of 10 million SEK, in which Jane Walerud are among the investors.

Satscube had sales of $1 million (8 million SEK) last year, and expects to double its sales this year to $2 million (16 million SEK).

“There won’t be any more funding rounds. The founders have launched the business successfully and managed to create products without venture capital until now”, Jane Walerud says.

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