SWEDEN - Industrifonden leads consortium of investors in a $5.6m round in Movimento
Industrifonden has participated in a $5.6m funding round for Movimento, a desiger and manufacturer of tools for the automotive and transportation industry. Industrifonden itself has invested $2.8m in this round alongside a $2.8m commitment from existing investor Eqvitec. Previously Eqvitec provided the company with SEK 25m of expansion capital. The latest investment will enable Movimento to improve its presence in its key markets - Japan, Germany and South Korea.
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