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STEER Technologies Inc. (STEEF) delivers cutting-edge autonomous driving solutions for the automotive sector. This news hub provides investors and industry professionals with timely updates on the company's strategic initiatives and market position.
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STEER Technologies Inc. (TSXV: STER, OTCQX: STEEF) has successfully closed the sale of approximately 37.5% of its digital restaurant supply business, FoodsUp Inc., to a group of investors valued at approximately $47.14 million. The transaction involved a direct investment of $18 million, with $16.5 million in common shares sold to the investor group and $1.5 million retained by STEER. The funds will be used for operational scaling and capitalizing on subscription and on-demand service offerings. Post-transaction, STEER retains 62.5% ownership of FoodsUp, with growth plans focusing on automation and expanded product offerings.
