Nenda announced securing SEK 11.5M from existing investors Carl Palmstierna and Björn Lifvergren

Nenda, a Stockholm, Sweden-based software developer of a SAAS video streaming service, announced securing a capital investment raise of SEK 11.5M ($1.3M).

The money was raised from existing investors, including Carl Palmstierna and Björn Lifvergren.

Nenda, founded in 2019 by CEO Anders Hässel, Per Romild and Carl Johan Barnekow, developed a SAAS video platform that works in as similar way to cable and satellite TV. The platform is targeted for the B2B market, with a specific business case for the hotel industry.

Specifically, the company works with manufacturers such as Samsung, Philips and LG, to have its service pre-installed on TV sets before being delivered to the hotels. Nenda already has partnership deals with content providers such as TV4 Media, Discovery Networks Sweden and SF Studios.

Prior to this deal, Nenda raised an angel round in 2019.