Sib Solutions secures SEK 23 million

Sib Solutions, a Lund, Sweden-based software logistics developer, secured a funding round of SEK 23 million ($2.8M).

The money was raised from local investors from Sweden, led by Anders Pettersson.

Proceeds will be used to commercialize the platform, develop more functions and help the company towards international expansion.

Sib Solutions, founded in 2017 by CEO Stefan Borg, developed a software solution for the logistics business, which uses image interpretation from smart video cameras in order to recognize shipments throughout the supply chain and sees when errors occur.