Wrap Technologies raises $12 million in equity offering to fund WrapShield expansion
WRAP•Technology pipeline in Israel
The strategy also includes building a technology pipeline in Israel, anchored by Frenel Imaging, to add sensing capabilities for WrapShield.
Equity offering raises $12 million in growth capital
Wrap Technologies closed an equity offering raising about $12 million in growth capital from institutional investors on Aug. 18.
Proceeds are earmarked for working capital, general corporate purposes, future expansion, scaling the core public safety business and accelerating WrapShield commercialization.
Expansion targets enterprise, federal, defense and international markets
The company said the expansion targets a broader market spanning enterprise safety, U.S. federal and defense contracting and international opportunities.
Wrap plans investments in engineering, product integration, talent acquisition, partnerships and federal contracting infrastructure via a planned FOCI-compliant WRAP Federal structure.
