New funding round will be used to launch new innovations, expand strategic partnerships and position the company towards its future plan to uplist.
NEW YORK, June 10, 2021
NEW YORK, June 10, 2021 /PRNewswire/ -- Samsara Luggage (OTC: SAML), a company that combines functional design with innovative technology to develop smart travel products, today announced a $1.25 million investment by YAII PN, Ltd. ("YAII"), a fund managed by Yorkville Advisors Global, LP ("Yorkville"). This latest investment will be used to fuel Samsara's upcoming launch of its Next Gen Smart Carry-on as well as further expanding its Samsara Direct initiatives that leverage the company's online digital assets and supply chain capabilities. YAII has been a long-standing investor in Samsara Luggage, investing in the company for the past two years.
"Yorkville looks for innovative companies that can endure challenges for its funds' portfolios," says Matthew Beckman, Partner at Yorkville. "We like the company's business model and vision to bring an effortless travel experience to the mainstream through innovative design and technology."
"YAII's substantial investment in Samsara Luggage represents their confidence in the company and the travel sector at large," says Atara Dzikowski, Co-founder and CEO, Samsara Luggage. "With this investment we will continue to expand and improve our product line as well as develop innovation that will elevate the travel experience for the modern age. Our ongoing success will position us to expand in the consumer marketplace and advance our goal to uplist."
Samsara's Next Gen smart carry-on suitcase is expected to launch as travel continues to resume activity in the coming months. The Next Gen was received with enthusiasm and anticipation by the press once unveiled at the 2020 Consumer Electronics Show (CES). Samsara Luggage's Next Gen carry-on is the first smart suitcase on the market with WIFI Hotspot technology that provides travelers with access to a secured global network. Other key features of the Next Gen line include GPS tracking, Bluetooth 5.1, wireless charging dock and USB-C charging port.
About Samsara Luggage:
Samsara Luggage, Inc. is a global smart luggage and smart travel brand with a deep belief in creating a world where travel isn't a hassle, but rather an effortless experience. By combining smart features, including IoT technology, innovative design and quality materials, Samsara is dedicated to transforming the travel industry with its products. Samsara Luggage unveiled its Next Generation smart carry-on at the 2020 Consumer Electronics Show (CES). The Next Generation is the first to market a Wi-Fi Hotspot technology for travelers to access a secured network globally.
In response to the coronavirus pandemic Samsara Luggage launched the Smart Weekender Nano Bag, an overnight travel bag treated with a layer of bacteriostatic nanotechnology protection that prevents colonies of bacteria from developing on the fabric. Samsara Luggage also launched Essentials by Samsara, safety kit providing commuters with a new layer of safety with protective items like facemasks, hand sanitizer, disposable gloves and alcohol wipes. These kits are sold individually and gifted to customers with purchase of the Carry-on Aluminum suitcase or Smart Weekender bag.
Samsara launched Sarah & Sam, a fashion and lifestyle collection in the fourth quarter of the 2020 fiscal year. Sarah & Sam is a part of Samsara Direct, a new business model initiated in response to the travel restrictions enforced due to the coronavirus pandemic. Samsara Direct leverages the company's established digital assets and manufacturing and fulfillment supply chain capabilities to offer additional consumer products that respond to the changing needs of the market.
All statements other than statements of historical facts contained in this press release are "forward-looking statements," which may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These factors include uncertainties as to the Company's international manufacturing and supply chain, market acceptance of the Company's smart luggage, successfully implementing the Company's growth strategy, dependence on key Company personnel, changes in economic conditions, competition and other risks including, but not limited to, those described from in the Company's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 30, 2021 (the "SEC"), and other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligations to update these statements except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
SOURCE Samsara Luggage Inc