Mimbly raised $900k from Forec, Almi and GU Ventures

Mimbly, a Gothenburg, Sweden-based company dedicated to make water recycling accessible, completed a capital raise totalling SEK 8.5 million ($900k).

The funding was provided by a range of investors from Sweden, including Almi Invest, Forec, GU Ventures and business angel Stefan Backlund.

Mimbly, founded in 2016 by Isabella Palmgren (CEO) and Daniel Colunga while being students at the Chalmers University, developed a device called Mimbox that can be connected to one or several washing machines, acting as an intermediate for all water that is going in and out. The Mimbox analyses the water, filters it and stores it safely to be reused.

The company is currently testing its product in real settings and expects to make it commercially available by 2021.