Equilab announced getting a SEK 7 million from Backing Minds.

Equilab, a Gothenburg, Sweden-based building a business based on a mobile app for horse riders, announced securing a SEK 7M ($780k) capital investment round.

The funding was raised from investors from Sweden Backing Minds. Viktor Sellman, investment manager at Backing Minds, will also join Equilab's board of directors.

Equilab, founded in 2016 by CEO Adam Torkelsson, Per Eriksson, and Therese von Hackwitz, developed a piece of technology capable to measure the movements of a horse and provide insights about their current condition. The company claims 750,000 users from all over the world.