Starcounter, a Stockholm, Sweden-based developer of innovative database technology, raised SEK15m in funding.
Backers included Industrifonden, which is investing SEK 10m, and previous owners.
The company intends to use the funds to further develop its database technology and bring it to market.
Founded by serial entrepreneur Joachim Wester and led by and CEO Kristoffer Lundegren, Starcounter is developing a new database technology for business-critical systems which aims to be faster and cheaper to develop and operate than previous solutions.
The company currently has three products/services: two central technological innovations – the Starcounter database and a technology to develop web applications – and an app store-like model that allows companies to sell and distribute applications they develop with their own technologies.
Though it is still in an early stage of development, Starcounter has around 80 end users, including Gekås Ullared, Telenor Stores and Expressen.