TechFinancials Inc. Investment in RenewSenses Ltd (2417G)

TIDMTECH

RNS Number : 2417G

TechFinancials Inc.

24 November 2020

24 November 2020

Techfinancials, Inc

("TechFinancials" or the "Company" or the "Group")

Investment in RenewSenses Ltd

TechFnancials (AQSE Growth Market: TECH) is pleased to announce it has entered into an investment in RenewSenses Ltd ("RenewSenses")( https://www.renewsenses.com ).

RenewSenses aims to revolutionize the way people with visual impairment experience the world. The Company develops a wearable device that combines cutting-edge computer vision and vision-to-audio and vision-to-touch sensory substitution methods, enabling users to detect and locate objects, people and general visual characteristics in their immediate surroundings through alternative senses. With the help of the investment RenewSenses aims to finalize it's A.I. Cane product and prepare for initial penetration into the market by building international partnerships and sales channels, focusing on the aging European market.

The A.I. Cane consists of a camera attached to the Company's customized hand-held device that helps visually impaired people to navigate freely. The A.I. Cane uses a companion mobile app to detect and identify obstacles, objects and people in real-time.

Asaf Lahav, TechFinancials Executive Director stated: "We are thrilled to invest in a young and promising technology company that solves real problems that may change positively the life of so many people. We will do our best to support RenewSenses in its journey towards success."

Deal Structure:

TechFinancials has invested a sum of $148,000 in RenewSenses in an equity round using a SAFE agreement, that when converted will give the Company an equity position of at least 17.02% in RenewSenses.

The Directors of the Company accept responsibility for the contents of this announcement.

For further information:

 
  TechFinancials, Inc.                   Tel: [phone] 
                                          943 
  Asaf Lahav, Executive Director 
  Eitan Yanuv, Non-Executive Chairman 
 
 
  Peterhouse Capital Limited (Aquis Stock   Tel: +44 (0) 20 
   Exchange Advisor and Broker)              7469 0930 
  Guy Miller and Allie Feuerlein 
 

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November 24, 2020 02:00 ET (07:00 GMT)