EasyRain, Innovative SME grown in I3P and committed to developing advanced automotive safety systems, is delighted to announce a new 5 million euros capital increase. The capital increase was signed by Indaco Venture Partners SGR, EasyRain’s longtime financial backer, and Progress Tech Transfer, that has been supporting the Company in this important stage.
After a period of intense development, the young company lays the foundations for the future: the operation was signed to back the further development of "AIS" system and the next generation of virtual sensors as "DAI", able to increase safe driving as it recognizes and discriminates the presence of various levels of water on the road. Next year EasyRain will carry on the development of second generation AIS system that will be placed in a number of proof-of-concept vehicles, with the cooperation of technical partners Bosch, Italdesign and carmakers that have already expressed interest in the Company’s products.
With the company's growth accelerating rapidly, EasyRain is strengthening its corporate structure, with the recent announcement of Heinrich Gerhard Schuering as the company's new president.
Schuering, a manager with long experience in the automotive industry, has already held top-level positions, such as CEO of the Electronics Business Unit at Magneti Marelli, and will take office immediately. Together with CEO and founder Giovanni Blandina, Schuering will oversee the technical development of EasyRain and help the company with the industrialisation and market launch of the patented AIS and DAI systems.
“The capital increase is the acknowledgment of a project and a winning path. The synergy between technical development and financial growth represents the consecration of EasyRain: from innovative SME to established company in the field of safety. I am very proud of what we have done so far. There is still a long way to go but we’re on the right track.", commented Giovanni Blandina, CEO di EasyRain.I want to thank the members of the Board of Directors; the Indaco Venture Fund I, our historic partner; the Progress Tech Transfer fund; the President Schuering and my team for their excellent work and commitment. The appointment of Heinrich is the climax of an extraordinary growth path for EasyRain. This is a milestone that will pave the way for EasyRain to achieve major goals: the signing of contracts with car makers, the industrialization of AIS, DAI safety systems, and the systems’ launch on the market. I’m so proud: Heinrich is the best person to drive this thrilling phase”.
“I am honored and excited to take on the role of Chairman at EasyRain. EasyRain’s innovative technology is an enabler to save lives and improve car safety. It is a pleasure to work with Giovanni and his highly motivated team to build a strategy for further growth enabled by the recent capital increase.", said Heinrich Gerhard Schuering. I am looking forward to be part of this agile and innovative team striving for more safety on the roads”.
“We are delighted to be part of this project that we supported from the early days, because we strongly believe in the potential of EasyRain, one of the most disruptive player in the automotive sector.", said Alvise Bonivento, Partner presso Indaco Venture Partners. The appointment of Mr. Schuering is a further milestone in the growth strategy we are implementing, as we believe he is the perfect profile to elevate the project to become an international player”.
“We are very pleased of EasyRain joining the Progress Tech Transfer family.", commented Alberto Calvo, Partner di Progress Tech Transfer.
We have found in EasyRain a visionary and energetic team aiming at erasing forever a serious risk for every world moving vehicle, and we are happy to support its journey in the coming years”.