Mantex, a Kista, Sweden-based developer of moisture measurement technology for the paper and bioenergy industries, raised SEK30m in funding.
The company intends to use the capital to industrialize its products and to expand internationally.
Founded in 2004 and led by CEO Erik Odén, Mantex develops and provides equipment for manufacturers to measure the moisture content in organic material. The company is currently focused on the pulp and paper industry, although its products can be used in many other industries as well.
The company, which recently introduced its first product on the market, had a turnover of just over SEK7m in 2012.
Customers include paper manufacturers such as Stora Enso, Holmen and BillerudKorsnäs.
17/01/2011: Mantex Raises over SEK20M