Kitchentime takes SEK 25M to automate its ecommerce operations and expand scope of the business.
Kitchentime, an Uppsala, Sweden-based startup managing an ecommerce operation, added a capital investment in the company totalling SEK 25M ($2.9M).
The money comes from exisiting investors and will be used to finish the automation process of its backend office as well as expanding the commercial offer.
Kitchentime, founded in 2010 under the name lykka.se by Joel Falck and Anton Malmberg, built an ecommerce operation for kitchen produtcs. The company had an accelerated growth, by acquiring a few other companies, partly funded by a capital round supported by Verdane Capital. The business was not profitable in 2016 and expects to double its sales to SEK 200M in 2017.