Carheal secured $8.5M from Nordic Alpha Partners.
Carheal, an Aalborg (Støvring), Denmark-based company providing industrial solutions for car maintenance, secured a DKK 54M ($8.5M) capital investment round.
The money was provided by Nordic Alpha Partners as the first investment from its $140M venture fund launched at the end of 2017. The investment is structured in two tranches, an upfront capital infusion of DKK 29M and a 25M commitment on a later stage, subject to reaching growth objectives.
In conjunction with the funding, the company will be led by a new CEO - Mads Prebensen.
Carheal, founded in 2001 by Henrik Bro Christensen and Daniel Zammit, develops industrial systems used for providing minor car damage repairments for all non-structural needs, specifically Same Day Repairs.
In 2017, the company had a turnover of DKK 30.5M ($5M) and is expected to increase it to 50M in 2018.