Equilab gets SEK 3.5M for a horseback riding digital tracker.

Equilab, a Gothenburg, Sweden-based startup developing an application that tracks horseback riding, raised SEK 3.5M ($410k) in seed money.

The backers include local investment firm Chalmers Ventures, as well as angel investors Ted Nelson and Erik Fischbeck through Spectric Intelligence.

Equilab, co-founded in 2016 by CEO Adam Torkelsson, developed a piece of technology capable to measure the movements of a horse and provide insights about their current condition. The number of downloads is increasing at a 40% monthly rate and the company intends to expand by translating it into eight more languages.