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NEWS August 10, 2022

Despite challenging investment times: Propel Capital VI succeeds to raise capital as planned

35 experienced business angels contribute SEK 15.5 million, matched by SEK 14.5 million from the anchor investor Saminvest, in Propel Capital’s latest addition Propel VI.

Alexandra Tsampikakisis one of the new angels in Propel VI

Propel Capital, Sweden’s most active private investor in tech companies, in collaboration with accelerator Sting, has since its start in 2014 invested in over 175 companies. Despite tough times on the stock exchange, interest was high, and Propel Capital VI was able to close as planned. Propel Capital invests in early-stage startups addressing important challenges especially within Sustaintech, Healthtech, Deeptech, and Digital innovation sectors.

One of Propel Capital’s success factors is the carefully selected composition of business angels. Out of the 35 investors in Propel VI, 24 have been in previous rounds of Propel, and 11 new angels have joined Propel VI

The venture capital company Saminvest is once again the anchor investor, which enables continuity and further strengthening of the ecosystem and business life in this region.

Another factor is the great follow-up investment activity from the angels and so far, over 50% of all Propel’s companies have attracted a follow-up investment from the business angels.

Alexandra Tsampikakis, the co-founder of Edtech company Ugglo, is one of the new investors.

“For me, as an entrepreneur myself and a Sting Alumni, it feels amazing to be able to support the next generation of growth companies through Propel. I am looking forward to being a part of the strong investor network that Propel offers”, said Alexandra Tsampikakis.

Another investor, Ludvig Linge, is also a board member of Propel Capital.

“Propel Capital is an incredible opportunity to gain exposure to a large number of exciting early-stage companies while also expanding my own network with other like-minded business angels. Furthermore, Propel Capital has proven that it is possible to generate returns for investors on the invested capital,” said Ludvig Linge.

Pär Hedberg CEO at Sting:

“It was incredibly important to close Propel VI, in a season where the rest of the world is on shaky ground. With such uncertain economic times, it feels good to be able to offer the companies in our programs an advanced investment as well as access to very interesting follow-up investors. It’s also very exciting that so many of our old propel angels together with anchor investor Saminvest, choose to join again. That, in combination with so many new exciting investors, is incredibly valuable to us. It’s a strong network, which is meaningful to our entrepreneurs to connect with.” More about Propel Capital: https://sting.co/investors/propel-capital/

About Saminvest

Saminvest is a venture capital company that invests indirectly and together with private capital. By investing in new funds managed by teams with sufficient qualities and a long-term perspective, Saminvest contributes to developing the Swedish venture capital market. In this way, Saminvest contributes to giving innovative and fast-growing companies access to both capital and ownership expertise. The efforts should lead to the development and renewal of Swedish business life.

More about Propel Capital: https://sting.co/investors/propel-capital/   

NEWS July 12, 2022

Changers Hub and Sting initiate a partnership to give young tech-entrepreneurs a chance to put their ideas to the test

Stockholm, July 11th 2022 – The innovation movement Changers Hub, together with leading Nordic accelerator Sting, are proud to announce that they will launch a program aiming to help young tech-entrepreneurs in their early stages, test their ideas and guide those first important steps in the direction of a successful business.

Changers Test Drive is a program where entrepreneurs between the ages of 16 and 29 who want to test their ideas and put them into practice, get support and tools in how to. Twelve carefully selected teams will be coached by the Sting coaches and participate in several workshops along the topics of ‘Test your idea + evaluate the result’, ‘How to attract consumers’, ‘Build a winning team’ and ‘Getting financed.’ 

“It’s incredibly meaningful, to get the chance to help young creatives take their ideas and put them into action. Our expertise is primarily in tech startups and pushing these smaller businesses to grow. Our competence and experience in combination with Changers Hub’s community will certainly be exciting to follow. I am excited to be part of this collaboration and cannot wait to see innovation flourish. – “ said Jonas Lindqvist, coach at Sting. 

“We continue to see a tremendous interest in tech innovation. We currently offer courses in front-end but this year we are extending that offer with the intention to support and help develop innovation in the early stage within tech.  Our community is sharp, and they are great problem-solvers and have great analyzing skills. As a community, it’s our responsibility to nurture that drive and create space and resources for these individuals. We are stoked to contribute to the ecosystem of innovation, and to do this in collaboration with Sting.” Said Neda Khezerian  at Changers Hub. 

The program is targeting members of the Changers Hub Community and is going to be a 6-week program, starting September 29th this year. 

Please submit your application no later than August 31st.  

Follow link to apply: 

https://www.changershub.se/academy-course/changers-test-drive/

About Changers Hub 

Changers Hub is an innovation lab, founded in Alby with the vision to democratize success amongst young adults. Today, Changers Hub has three locations; Alby, Kista and Hjällbo with over 1800 people in the network. Since started, young adults have been mentored in their entrepreneurship in the sub divisions, including tech, creative leading, cultural art and sports. Our way of working makes it possible for the young entrepreneur, through community to establish a strategy from idea to execution. It’s all based on an ecosystem equipping our members and cooperative members with rare competence, tools, inspirations, networking, and knowledge. 

About Sting 

Named the World’s Best Accelerator, Sting has helped build and expand startups since 2002. Access to experienced coaches, industry leaders and mentors, investment network, startup community and alumni are some of the benefits startups in the Sting program get to utilize once enrolled in the program. 

Sting has helped over 370 small startups grow into successful businesses since they started, Airmee, Sellpy, Karma, Yubiko and Sizzle just to mention a few.