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Sweden’s Industrifonden invests in mobile technology company Actiwave

6 Sep 2012

Swedish state SME investor Industrifonden is committing SEK13 m (€1.53m) to mobile technology company Actiwave.

The current owner, SEB Venture Capital – the venture capital arm of the Swedish bank SEB, is also participating in the new issue. The money will be used for a market launch, it said.

Actiwave, a spin-off from research at Linköping University, has developed a new technology to improve sound quality in small speakers with limited space and battery capacity, such as mobile phones, laptops, tablets and televisions.

“Actiwave has a technology that produces rich sound from small speakers,” says Hadar Cars, investment manager at Industrifonden. “We are confident that the company has great opportunities to succeed in the market, considering that demand for better sound in small devices is huge and growing.”

Industrifonden has assets of SEK3.8bn and has made 89 investments in the technology, cleantech, life science and industry sectors.

In April of this year, the firm partnered with SEB to invest €4.5m in the IT security company Clavister.

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