Hoting Innovations in a SEK 38 million capital investment round.

Hoting Innovations, a Stockholm, Sweden-based startup producing tech for manufacturing plastic packaging alternatives, announced completing an equity funding round closed at SEK 38 million ($4 million).

The money was raised from a number of private investors whose name remained undisclosed and included contributions from Almi Invest, the Swedish government agency. Proceeds will be used to set up a production facility in Vingåker (central part of Sweden).

Hoting Innovations, founded in 2022 by CEO Per Larsson and Anders Mårtensson, is working on the development of a tech solution able to produce alternative packaging for plastic out of disposable cellulose fiber. The company aims to manufacture and sell the machines to customers in the packaging industry.