Awesome to read about New Zealand based company Imarda who have just inked a deal with a major US freight company. The deal is worth $12million and see Imarda supply multi-source data devices that will handle engine-management, GPS and Driving force sensors.
It’s a great win for Imarda but I was al little saddened to read what CEO Selwyn Pellet had to say about their plans for an initial public listing and specifically where that would occur;
It is looking at listing on a sharemarket, but has not decided on a country to list in. The New Zealand market is not ready, there’s a certain culture in New Zealand that bricks and mortar and high revenue are what you should invest in.
It would be nice to think we could both create these high IP products and services, and also retain the business within New Zealand – Pellet’s comments indicate both the appetite for investment within New Zealand, the the sophistication (or otherwise) of the market, and the lack of good alternative funding sources.
Shame….
