Industrifonden invests SEK 10m in Starcounter

The company will use the SEK 25m raised to further develop its newest database technology and bring it to market.

Government-backed Industrifonden is a growth fund that invests in small Swedish businesses.

Company
Founded by Joakim Wester in 2006, Starcounter develops enterprise software, specifically databases with the aim of providing a higher speed than any of its competitors.

Starcounter's offering includes its central database, a web application development tool, and a distribution platform for companies.

The Stockholm-based company employs around 10 people and had revenues of SEK 6.5m in 2012/13, with a net loss of SEK 5.3m.

People
Industrifonden investment manager Johan Englund worked on the deal for the GP. Kristoffer Lundegren is the CEO of Starcounter.

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• Topics
• Nordics
• Expansion
• Technology
• Sweden
• Industrifonden