Easyrain announce a new 5 million Euros capital increase

EASYRAIN, THE INNOVATIVE SME COMMITTED TO DEVELOPING ADVANCED AUTOMOTIVE SAFETY SYSTEMS, IS DELIGHTED TO ANNOUNCE A NEW 5 MILLION EUROS CAPITAL INCREASE TO FUND THE NEXT STAGE OF DEVELOPMENT AND THE APPOINTMENT OF HEINRICH GERHARD SCHUERING AS CHAIRMAN OF THE COMPANY

Rivoli (Turin), 09/12/2021 – After a period of intense growth, Easyrain lays the basis for the future: a new 5 million Euros capital increase was signed to back the further development of AIS system and the next generation of virtual sensors as DAI, able to increase safe driving as it recognizes and discriminates the presence of various levels of water on the road. Next year Easyrain will carry on the development of second generation AIS system that will be placed in a number of proof-of-concept vehicles, with the cooperation of technical partners Bosch, Italdesign and car makers that have already expressed interest in the Company’s products.  

The capital increase was signed by Indaco Venture Partners SGR, Easyrain’s longtime financial backer, and Progress Tech Transfer, that has been supporting the Company in this important stage.   

Since the growth of the company has been accelerating, Easyrain is now strengthening the Company’s structure and is delighted to announce the appointment of Heinrich Gerhard Schuering as new President. Heinrich Gerhard Schuering, longtime manager with a deep knowledge of automotive business, having held key roles as CEO of the Electronics Business Unit in Magneti Marelli, is becoming Company’s chairman and takes charge immediately. 

Along with CEO and founder Giovanni Blandina, Mr. Schuering will oversee the technical development of Easyrain and help the Company to step forward towards the industrialization and market launch phases of the patented AIS, DAI safety systems. 

Giovanni Blandina, CEO of Easyrain, has commented: 

The capital increase is the acknowledgment of a project and a winning path. The synergy between technical development and financial growth represents the consecration of Easyrain: from innovative SME to established company in the field of safety. I am very proud of what we have done so far. There is still a long way to go but we’re on the right track. I want to thank the members of the Board of Directors; the Indaco Venture Fund I, our historic partner; the Progress Tech Transfer fund; the President Schuering and my team for their excellent work and commitment. The appointment of Heinrich is the climax of an extraordinary growth path for Easyrain. This is a milestone that will pave the way for Easyrain to achieve major goals: the signing of contracts with car makers, the industrialization of AIS, DAI safety systems, and the systems’ launch on the market. I’m so proud: Heinrich is the best person to drive this thrilling phase”. 

Commenting on the appointment, Mr. Schuering said: 

I am honored and excited to take on the role of Chairman at Easyrain. Easyrain’s innovative technology is an enabler to save lives and improve car safety. It is a pleasure to work with Giovanni and his highly motivated team to build a strategy for further growth enabled by the recent capital increase. I am looking forward to be part of this agile and innovative team striving for more safety on the roads”. 

Mr. Schuering has earned a master’s degree in electrical engineering from the University of Hanover. During his career he has held a wide variety of global management positions in the automotive world, including Executive Vice President ADAS and Autonomous Driving and Executive Vice President and CEO of the Electronics Business Unit in Marelli. He was formerly Vice President Design & Development of the Elster Group and Director of Delphi. 

At the following link, Giovanni Blandina e Heinrich Gerhard Schuering comment on the capital increase –

Alvise Bonivento, Partner at Indaco Venture Partners, said: 

We are delighted to be part of this project that we supported from the early days, because we strongly believe in the potential of Easyrain, one of the most disruptive player in the automotive sector. The appointment of Mr. Schuering is a further milestone in the growth strategy we are implementing, as we believe he is the perfect profile to elevate the project to become an international player”. 

Alberto Calvo, partner at Progress Tech Transfer, commented: 

“We are very pleased of Easyrain joining the Progress Tech Transfer family. We have found in Easyrain a visionary and energetic team aiming at erasing forever a serious risk for every world moving vehicle, and we are happy to support its journey in the coming years”. 

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