The Tel Aviv-based company had 2023 revenue of $78 million and a net loss of $79.3 million.
Israeli smart glass manufacturer Gauze has filed a prospectus for an IPO on Nasdaq. The Tel Aviv-based company has not yet announced the amount it plans to raise or the company’s valuation. Barclays, TD Cowen and Stifel will serve as underwriters.
In the prospectus, Gauzy revealed that it would have revenue of $78 million in 2023, up 59% from the previous year. The net loss increased from $37.9 million in 2022 to $79.3 million in 2023. At the end of 2023, the company had only $4.6 million in cash.
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The company, founded in 2009, has developed technology to better control the passage of light through glass for the automotive and aerospace industries, while believing its products could also have applications in other areas. Gauzy’s technology replaces traditional mechanical products with advanced solutions including nanotechnology, electronic and other capabilities.
Gauzy investors include Ibex Partners (32.1%), Olive Tree (13%), Gauzy co-founder and CEO Eyal Peso (7.9%) and co-founder CTO Adrian Loffer (3.3%).
Published by Globes, Israel Business News – fr.globes.co.il – April 21, 2024.
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The founders of Gauzy, Eyal Peso and Adrian Loffer Photo: Gauzy