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Norway’s latest unicorn: reMarkable reaches $1B valuation, sells 1 million units of its next-gen paper tablet

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Headquartered in Oslo, Norway, reMarkable, the developer of the next-generation paper tablet has closed funding reaching a valuation of $1 billion. The company has achieved a milestone by selling over 1 million units of its e-paper table since 2017. It has made revenues of $300 million and operating profits of $31 million last year.

reMarkable has not disclosed the amount of the investment or those who pumped funds. It has revealed that it is a minority stake in the company and that it came from several international investors.

Previously, in 2019, reMarkable secured $15 million in a Series A funding round from Spark Capital, which still remains as a shareholder in the company. Back then, the company had sold a mere 100,000 units of the e-paper tablet. Furthermore, the company is open to raising more funds to invest in growth.

Unleashes creativity with tech

Currently, a large number of people do not mind spending a lot of time online but there are users who look for ways to use new technology that can keep them away from the distractions that come their way in the connected tech world. There are a handful of companies that focus on these users who want to unleash creativity with the help of technology and the Norwegian startup reMarkable is one of them.

Founded by Magnus Wanberg in 2013, reMarkable is set out to create a device that would offer a pure, paper-like experience without compromising on being connected and limitless. He founded the startup after realising that Paper is the ultimate tool for thinking. It improves users’ focus, engages their brains and sets their minds free to work and imagine, without restrictions or distractions.

The company developed the first real digital paper tablet is designed for reading, writing, and sketching. Being an elegant tool for thinking in the digital age, it is meant for those who love the inspiration and clarity that they get when working on paper.

reMarkable 2: The next-gen paper tablet

reMarkable 2, the next-generation paper tablet replaces notebooks and printed documents with the tablet that feels like paper. The converts handwritten notes into text, organises all the notes and makes them accessible on all devices, take handwritten notes, read, and review documents, take notes directly on PDFs, give a paper-like writing and reading experience, and integrates with Google Drive, Dropbox, and Microsoft OneDrive.

You can think of it as a digital notebook that is close to paper. reMarkable’s virtually instant response and texturised surface make for an unprecedented writing experience. With this paper tablet, users can use handwritten notes in emails, reports, or presentations by converting them into text. It supports 33 languages, and supports cursive and block letters. Also, it has two weeks of battery life.

Last year, reMarkable launched a subscription service called Connect to get a full experience. Users subscribing to the service are billed at $7.99 per month for the regular subscription and $4.99 per month for the Lite subscription. Connect provides continuous software updates, cloud storage access, an extended warranty, screen sharing and more.

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