CAP A joins Pegroco Invest in Funding for Swedish Industrial Bio-Scanning Technology Leader, Mantex
Pegroco leads the $1.2M growth round to expand globally
May, 2016, Stockholm, Sweden. Mantex develops, manufactures and sells measuring equipment based on its proprietary patented technology that uses X-rays to analyse the quality of organic material flows in real time. The analysis enables feed-forward based optimized control of production processes, which in turn enables large productivity gains. The company is based in Stockholm, Sweden; it was founded in 2007 and has 13 employees.
The company is currently focusing on two process industry applications, pulp and paper and bioenergy. Mantex’s products have been pilot-tested with leading international companies within these industries for a number of years. By measuring the quality of incoming biomaterial, such as wood chips, Mantex’s products have proven capable of enabling considerable cost savings. Pegroco’s and CAP A's assessment is that Mantex is now ripe for expansion.
”Mantex is now ready to enter a global commercialization phase after many years of research and development. We now have many years of accumulated experience from full-scale installations in real process operations. The timing is right for Pegroco and their co-investors, including CAP A, to become Mantex’s partners through the expansion phase”, says Erik Odén, CEO of Mantex.
”We have been following Mantex since mid-2015 and gradually become more and more convinced that here is a business with a large potential. We think that the company can become a world-leading supplier to industries where productivity and efficiency gains are important competitive success factors”, says Thomas Brue, CEO of Pegroco.
About Pegroco Invest
Pegroco Invest is an investment company that invests in smaller and medium sized unlisted companies, predominantly in Sweden. Formed by former executives from Volvo, Electrolux and Framfab, Pegroco are active owners and focus on investments where they can contribute to building value in the company. More information can be found at http://www.pegrocoinvest.com.