TraceSafe Investment Airbeam Announces 25 Million Raise and Pursues Public Listing
Vancouver, British Columbia--(Newsfile Corp. - March 5, 2021) - Tracesafe Inc. (CSE: TSF) ("TraceSafe"), a global leader in wearable safety tech and connected workforce solutions, including large-scale enterprise, venue management and asset tracking, is proud to announce that Airbeam Wireless Technologies ("Airbeam") has reached an agreement to go public with a concurrent CAD 25 million raise.
Airbeam is a leading developer of solutions for 5G edge compute and wireless technologies, and is at the cutting edge of computing platforms for smart cities and roads. With 9.8 million Airbeam shares, representing approximately 14.3% of outstanding shares, TraceSafe is an early supporter of Airbeam's mission and one of the firm's largest shareholders. Airbeam is commitmented to building the technology powering the 5G edge, which is a critical component of the Internet of Things (IoT) and the future of connected workers, among countless other applications powering our digital future.
"The success of technology leaders like Airbeam supports TraceSafe's mission to improve how people live, work, and engage in their communities," notes Wayne Lloyd, CEO of TraceSafe. "In combination with our newest partnerships and next generation of intelligent wearables, TraceSafe is building technologies that enhance a connected workplace ecosystem to ensure safety, increase productivity, optimize logistics, and even heighten the consumer experience."
The 5G opportunity has not yet been appreciated by the market in North America compared to its rapid pace of growth in Asian markets. As noted by Market Research Future in its 2019 report, the 5G technology market is expected to surpass USD 700 billion by 2025 growing at 70.83% Compound Annual Growth Rate (CAGR), with North America dominating the global 5G market with a CAGR of 71%. With the absence of Huawei from the US market, startups like Airbeam stand to benefit significantly from future growth and power the future of 5G.
TraceSafe's Wayne Lloyd is expected to join Airbeam's collection of top-tier leaders, as a member of the board of directors.
Airbeam is an innovator in 5G-enabled Smart City technologies. The company sells a proprietary 60 GHz millimeter wave chipset, hardware, and software that power its Edge Computing Network (ECU). Airbeam acquired its technology from a leading semiconductor company, which spent in excess of $110 million USD on R&D.
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
Alan Tam, CFO
+1 (604) 377‐7575
+1 (604) 620-8589
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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