Hedonova announced it raised a strategic round of funding of $18.4 million at a $330 million post-money valuation led by Chemie Tech.
The development comes as the global alternative investment management firm looks to strengthen its equipment finance portfolio in Middle Eastern markets.
Why It Matters: Equipment financing — buying from industrial distributors and leasing to end-users — is about 13% of Hedonova’s portfolio.
With the added funds, Hedonova “will be able to invest earlier in the supply chain,” at the order stage, a representative said.
“Once the end-user places an order for a piece of equipment, we will be able to pre-order, at a cheaper price, allowing us to increase returns from 33% to around 50%.”
Chemie Tech, which led the round, has oil and gas expertise local to the Middle East.
