Otovo Completes $3 Million Equity Raise and Announces Asset Divestiture

Otovo ASA has successfully completed a $3 million private placement, raising its total capital to approximately $40 million over the past year. The company also announced the divestiture of assets worth $2.4 million, which includes stakes in EDEA Europe and full ownership of EDEA Switzerland. The proceeds from the equity raise will be used for general corporate purposes, potential acquisitions, and expenses related to its planned dual listing in the United States.