Odense, Denmark, 30 June 2021 – QuadSAT has appointed Torben Frigaard Rasmussen as Chairman of the Board. Former Chairman of Mobile Industrial Robots (MIR), Torben is passionate about building and growing technology start-ups and will help QuadSAT to scale on its road to global and scalable growth.
QuadSAT, headquartered in Odense, Denmark, supplies drone-based antenna testing and tracking solutions to the satellite, defence, wireless and broadcast markets to enhance quality and reliability of their telecom-based services. QuadSAT’s system provides users with affordable, accessible, and accurate antenna testing and calibration.
Torben Frigaard Rasmussen has a wealth of experience working with SaaS solution providers and is a strong investor in the Odense ecosystem. Torben has been involved in more than 20 merger and acquisition transactions across Europe and the USA. Previous growth successes include E-conomics, Umbraco, Cardlay, and Mobile Industrial Robots, which was acquired by Teradyne for $222m in 2018.
Torben Frigaard Rasmussen, Chairman of the Board, QuadSAT, commented: “QuadSAT is an extremely innovative company with a solution that has the potential to revolutionize antenna testing. With the product due to launch, it is certainly an exciting time for the company, and I look forward to being a part of its inevitable growth.”
Joakim Espeland, CEO, QuadSAT, added: “Torben has a strong track record of successful investments, coupled with a high level of technical experience that makes him the ideal person to take over as Chairman. I look forward to working with Torben as we move QuadSAT forward.”
Over the last year, QuadSAT has grown its team by 33% across its engineering and commercial functions. As a highly international company, QuadSAT staff now represent more than 21 different countries. To support this continuing expansion, QuadSAT has secured an additional €1.6m of investment as part of a pre-Series A investment round, now totalling €3.6m.
Founded in 2017, QuadSAT has developed a world-first mobile antenna testing system that provides users with affordable, accessible, and accurate testing and calibration. The system utilizes a custom-built RF payload, drone technology, and mathematical algorithms to effectively simulate satellites movements and perform critical antenna performance tests. QuadSAT’s system has been developed to meet current and emerging industry-wide standards, such as SOMAP.
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Torben Frigaard Rasmussen has been an active Business Angel for some years and invests especially in B2B-IT-software, green technology, and the robot industry. His investments are highly successful, and he was named “Business Angel of the Year” in 2019. With an extreme passion for building start-ups and a unique insight and ability to utilize new technology, Torben Frigaard has since 1999 stood in the vanguard of a range of companies whose new technology has revolutionized traditional industries.
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