Starcounter closes SEK 35M in fresh funding.

Starcounter, a Stockholm, Sweden-based technology company closed a SEK 35M financing in a new investment round.

The money comes from the existing investors, including Industrifonden, and from Mikael Runhem, who also joins the Board the Directors.

Starcounter, founded in 2006 by Joachim Wester and led by CEO Per Edström, developed technology that combines AI, new patented in-memory, with well-established languages and software patterns for ultra fast development of high performance business applications. The company recorded a turnover of approximately SEK 10M ($1.2M) with a loss of SEK 19M in 2016.

Prior to this transaction, Starcounter raised about $20M in outside investment.