Enersize completes a SEK 11M financing round, prepares for getting listed at Nasdaq Stockholm First North.

Enersize Oy, an Ulvila, Finland-based energy solution provider, announced the completion of a private placement of approximately $1.22M (11 MSEK) in preparation for its planned IPO during the second quarter 2017.

Among the investors are both German industrial investor Heinz Dürr Invest GmbH as well as Swedish truck manufacturing group Scania, through their newly established venture capital fund Scania Growth Capital.

The capital raise was executed to accelerate Enersize’s revenue growth and to further develop the company’s proprietary software to utilize artificial intelligence for automated monitoring and analytics. Investors in the private placement have also given commitments to further invest into the company at the coming IPO on Stockholm First North.