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TESPACK CLOSES €500.000 INVESTMENT LEAD BY WOW VENTURES
INVESTMENT ROUND JOINED BY SILICON VALLEY VENTURE CAPITALIST NEAL DEMPSEY OF BAY PARTNERS
TOMTOM CO-FOUNDER PETER FRANS PAUWELS JOINS ADVISORY BOARD.
Tespack was born as one of the first 100% DNA wearable technology companies in the field with a unique and solid product portfolio aimed to the fusion of fabrics and electronics. Our departing point is to develop consumer sector mobile energy solutions and to generate energy on-the-go.
After validating our initial ideas and technology, we have started developing military equipment in the beginning of 2017 with very promising results and contracts. Now, we are happy to announce our 500.000€ investment round led by WOW Ventures from Saudi Arabia represented by Asaad Jamjoom and Yousef Hamidaddin. The round has also been joined by Silicon Valley, Forbes Midas List billion dollar company maker Neal Dempsey of Bay partners in San Francisco.
WOW VENTURES INVESTS 500.000€ – REPRESENTED BY YOUSEF HAMIDADDIN AND ASAAD JAMJOOM
We were invited and sponsored by GE (General Electric) to attend Start-up Turkey (the biggest startup event in Eurasia) and after winning the event’s competition in Antalya, we engaged in negotiations with WOW Ventures. One of the judges was a very well-known and respectable investor and entrepreneur from the MENA region, Mr Yousef Hamidaddin who represented and mediated on behalf of WOW Ventures.
Tespack is excited to start working with WOW Ventures, Mr Hamidaddin and Mr Jamjoom will guide the company during the expansion to the MENASA region. Hamidaddin has worked on developing in innovative funds to deliver solutions that address the region’s needs to be well positioned as an “open lab”, coming with a lot of entrepreneurial experience as he was the CEO of Oasis 500, a Jordan based MENA wide accelerator.
Yousef was a CEO from Acxiom Mena for 2 years, a $1.15 billion-a-year company.
A WINNING ADVISORY BOARD WITH A GLOBAL STRATEGY – NEAL DEMPSEY OF BAY PARTNERS AND PETER FRANS PAUWELS JOIN BOARD OF ADVISORS
Last year during spring, CEO Mario Aguilera was selected as one of the top entrepreneurs out of hundreds of candidates to join NRS2016 (Neal´s Running start Tv show based in San Francisco) which helped him get exposure to a different spectrum of possibilities and to envision Tespack as a global brand while in USA.
“Tespack first came to my attention when I chose Mario to be one of four entrepreneurs for the Neal’s Running Start program in May of 2016,” said Dempsey. “Since that time, Tespack has made tremendous strides with innovative new products and closing customers. Tespack is now positioned for early success across multiple regions, and I’m excited to contribute time and resources to their future growth.”
Neal´s background goes back to more than 25 years in the Venture Capital field in Silicon Valley and the world. He is the managing partner at Bay partners in San Francisco and he has been listed in the Forbes Midas list at number 72. Dempsey has one of the best noses for deals; he was the first investor on Starbucks when nobody would invest in their business model.
Having Neal Dempsey in our board of advisors will for sure give us a more global panorama on how to position Tespack as a company with a financial appeal for bigger funds and a well planned financial strategy.
Peter Frans Pauwels has advised Tespack already for about a year in regards to corporate strategy and management. Peter comes with over 25 years of experience as he is one of the founders of TomTom and he is one of a select group of entrepreneurs in tech with the experience of successfully bringing together hardware and software, then scaling to millions.
As a seasoned entrepreneur with an engineering background we believe he brings essential knowledge, experience and advice.
FROM OPENING OFFICES IN AMMAN TO COLLABORATING WITH A BIG TELECOMMUNICATIONS COMPANY!
Tespack has chosen to work and collaborate together with Mr Jamjoom and his team with a strategic agenda in mind. This investment will not only allow Tespack to enter the MENASA region, take our newest prototypes into production and implement IoT into UFS (ultra-fast safe) charging technology but also to operate and negotiate with government entities in the region.
It is in this spirit that Tespack shall be opening a new subsidiary entity in Amman (Jordan) where Tespack´s CEO and founder Mario Aguilera and part of the team of co-founders will be operating for couple of months in order to create the foundations of Tespack MENASA and maintain our company culture in the process.
Tespack shall be launching the new entity in cooperation with a telecommunications company and shall be guided in this process by Mr Yousef Hamidaddin whose operational experience and network will be of great advantage to strategize a fast paced market share acquisition.
We are also looking into a cooperation with Finnpartnership, in order to have a partner from the Finnish government in the region for our fast development.
A REFRESHED INNOVATION FOCUS IN THE HORIZON
This investment will transition Tespack into an organisation that focuses in IoT, UFS charging technology while creating mobile energy solutions for the consumer market as well as for the military. We believe firmly that the only way not to waste energy is generating responsibly and tracking our usage.
TESPACK MANAGEMENT NOTE
We want to thank all of our loyal customers, distributors, mentors, investors, friends and family members for believing in us and for supporting us during our hard times. The road of entrepreneurship is one of the hardest out there but also one of the most beautiful and rewarding ones. Not many people understand or cares about the hardships that small companies go through on a daily basis and we think that sharing our failures as well as our successes connects us more with the customer but also with the world as a brand.
There is a beautiful saying “Better to have 10 lions than a 1000 sheep”. Every single member of the Tespack team is a leader in their field and deserves recognition for what they do and what they have achieved so far. This milestone is certainly an achievement confirming that our vision and team is set in the right direction.
“Tespack team wants to thank, to all our community, friends, family, investors, mentors and partners. The road to success it cannot be done alone and we feel grateful because you are in our lives and we are in this together” Tespack’s CEO Mario Aguilera
- Tested by Astronauts, Scientists & Travellers in extreme weather conditions like Antarctica and the Amazons.
- Passed the strictest inspections at airport security check-ups.
- We are an European company providing unique designs
- We only use premium materials to provide the best customer experience
- Awarded more than 20+ international awards due to our technology and design
- Trusted Brand: High Profile Customer Testimonials