Ekobot

Company: Ekobot
Listings: First North Sweden
Ticker: EKOBOT
Market cap at time of publication: 13,7 MSEK
Stock price at time of publication: 0,896 SEK
Business: Agtech farming robotics
Website: https://www.ekobot.se/

ESGFIRE portfolio company Ekobot on 24/11 2023 announced their financial report for January – September 2023. Financially there is not much to comment other than that Cash and cash equivalents at the end of the period totaled SEK 5,614 thousand (2,370). The company is still at a point where sales are not high enough to cover monthly cash burn there is therefore a risk of an upcoming financing considering the cash balance at hand.

Fundamentally we have previously covered all major news and events however its worth noting that the company’s CEO Jonas Eklind states the following in the report:

“I’m pleased to have this opportunity to share the latest successes and events in Ekobot AB during the third quarter, 2023. During this period, we intensified our work with implementing the updated strategy presented in August. Our focus is directed toward accelerating growth through extended collaboration with our distributors and securing the upcoming funding for the commercial ramp-up.”

It remains to be seen if this funding will be a private placement or some other type of financial solution.

The full report can be found HERE: https://mfn.se/a/ekobot/ekobot-publishes-interim-report-for-january-september-2023

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