Foldable event structure company Konligo has announced the closing of a €1.1 million investment round, with staging, rigging and distribution company MTN joining as a strategic partner. The investment will finance the next stage of Konligo’s rapid-deployment technology, which the company says demonstrates “a premium stage roof can be set up in thirty minutes, and a premium tent in five.”
Since 2018, Konligo has been building an alternative to heavy equipment and long build times, with foldable structures that turn arbitrary shapes into compact and rapidly deployable constructions. Developed and manufactured in Belgium, Konligo’s structures are constructed from aluminium that contains between 70 and 80 percent recycled material.
The investment round also includes continued backing from Trividend, supported by finance.brussels, and investment from Entrevest. Andy Moors, CEO of Veldeman, and Edwin Van der Vennet, founder of beMatrix, are also joining as strategic partners. Cresco provided legal guidance on the transaction.
Ron Rose, Global Managing Director of MTN, says, “We believe we’re only scratching the surface of this rapid-deployment technology, especially as we collaborate on new products that combine our respective areas of expertise.”
The fund will help accelerate the rollout of its new product, ‘The Tent’, an alternative to the classic party tent and inflatable dome. The company says it can be “set up by one person in under five minutes with no pump or tools required.”
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