Aluwave, a Swedish company specializing in electronics cooling technology, raised SEK 2.3m (approximately $330,000) in a venture capital funding round led by Chalmers Innovation Seed Fund, with participation from previous owners.
Mölndal-base-Aluwave designs and delivers customised light engines built on LED technology and the funds from the investment will be used to continue to expand the company’s market in this field.
Explaining the reasons behind the investment, Timo Lehes, Investment Manager of Chalmers Innovation Seed Fund, said: “We strongly believe in this company and its unique expertise in lighting solutions. Additionally, customers want to buy more and more ready-made solutions, which Aluwave can offer”.
Most of Aluwave’s customers come from the automotive, architectural, design, sports and work light industries.