Hoofstep grabs SEK 4M to further build a mobile app for horse owners.
HoofStep, a Helsingborg, Sweden-based startup working on a mobile application for horse owners, announced raising an investment round totalling SEK 4M ($480k).
The money comes from Almi Invest, which matched the SEK 2M contribution of the already existing investors, and will be used to the further development and launch of the product.
HoofStep, founded in 2015 by CEO Per-Eric Olsson, developed a mobile solution providing a digital surveillance system via a sensor attached to the horse. The sensor collects data and sends it to Hoofstep's cloud-based database, whose algorithms detect and interpret deviations from the horse's normal motion and behavior patterns. According to the company, the total addresable market is approximately 20 million horses in the EU, North and South America while HoofStep's focus is on the 60,000 horse farms based Sweden.