At ‘Aktuaalne kaamera’ on Friday, we spoke to some of the affected businesses.
Hagen Bikes, which makes steel cargo bikes, recently told the stock market it had borrowed €10,000 from professional cycling ace Taner Kangert for its development.
The company’s head, Kaspar Peek, said it has become more difficult to raise funds in the past two years. The company has also laid off employees.
Peek told AK that no one knows when financial markets will recover.
He said the company is still doing well and has a contract with the sprawling German city of Kiel for a bike rental scheme.
Almost all (95%) of the company’s products are sold abroad. However, there is potential for the Estonian market to grow.
“In Germany everything continues to grow, and this year we would like to be more active in France, which is number two in terms of sales, but we have not been active there. We manufacture bicycles.
Robus Group, traded on the Tallinn Stock Exchange alternative listing First North, manufactures training equipment and videos for home gyms.
Last spring, the company raised €77,000 in its first share sale, but the market has since cooled.
“We have focused on bringing a cheaper starter package to market and have made significant strides in terms of increasing sales, increasing margins or gross margins and reducing acquisition costs in the last three months. New customers,” explains Mikk-Alvar Olle, Managing Director of the Robus Group.
He also said it’s difficult to find funding at the moment, but said the company is still growing.
“The number of strategic partnerships is increasing, which means that it is no longer so easy for investors to invest for profit, but if two companies see the potential for cooperation, entrepreneurs can invest. It makes sense to do.’ Ole.
Investors have become more cautious with funding, but interest in climate, energy or infrastructure technology start-ups has not declined, AK reports.
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