Northzone sells shares in Tobii
Today we annouce, along with other key owners, the sale of part of our holdings in Swedish eye-tracking company Tobii. The sale constitutes 25% of our total holdings in the company, and a new successful part-exit, following the record-breaking sale of Avito last month.
Since listing on the Swedish NASDAQ in April this year, Tobii has gone from strength to strength, with the share price increasing by 280% since the IPO. The company is currently valued at $740 million.
Hans Otterling, General Partner at Northzone, comments: “Tobii’s continuing performance is very strong, thanks to its world class founders and management team. At a time when questions are being asked about the performance of tech companies on the public markets generally, Tobii has been a great success, and we are very bullish about its future potential. Looking at the wider picture, it also tells an interesting story about the Nordic tech markets. Tobii is the latest in a line of successful VC-backed exits which has seen the region dominate this year, including King, Supercell and our own investment in Avito, exited to Naspers at a valuation of $2.7 billion.”