Saveggy announced raising SEK 8 million from Fåhraeus Startup & Growth Fund et al.

Saveggy, a Lund, Sweden-based producer of a bio-based edible vegan coating that extends the shelf life of fresh fruits and vegetables, announced closing an investment round at SEK 8 million ($900k).

The money was raised locally from Sweden from investors including Fåhraeus Startup & Growth Fund, Life Science incubator SmiLe's fund SmiLe Inject Capital and Almi Invest.

Saveggy, founded in 2019 by CEO Vahid Sohrabpour and Arash Fayyazi, developed an environmentally friendly alternative to plastic cover for vegetables - namely a bio-based and edible liquid that is sprayed on the vegetable or fruit and provides the same protection and extended durability as plastic. Saveggy's solution is based on natural and edible ingredients, and provides different levels of protection against water loss, mold and other things that shorten the shelf life. The company says it has ongoing collaborations with both Lidl and ICA in Sweden.