The STING companies Cgrain, Volumental and Watty were acknowledged at a crowded event at SUP46 on Friday. The three companies have developed in record time and when they now leave the incubator, they have their sights set on global growth.
From farm to table with Cgrain
Until today, all grain analysis has been done manually. Cgrain has developed an advanced image analysis instrument that carefully examines and classifies each individual seed in a sample. The innovation provides the grain industry with both safer analytical results and great time savings. When founder Jaan Luup came to STING in 2013 Cgrain was a project within Lantmännen. A year and a half later, there is a patent, a finished product and secured funding from Almi and Vinnova.
− Now we are ready to take the product to market. We want to sell ten instruments in the Nordic countries this year and begin exports in Europe in 2016. In five years, we produce 120 instruments and converting SEK 70 million, said Jaan Luup, CEO and founder of Cgrain.
Young Swedish success story in 3D
Volumental wants to customize the world with its software for 3D scanning. Custom-made shoes, glasses and headphones are quickly becoming a reality through Volumental’s service, where consumers easily scan and input their exact body measurements. Volumental was a research project at KTH when the founders two years ago registered the company and joined STING’s incubator program.
Since then, they have been going at turbo speed. In addition to setting up international collaborations in retail, they have built a dream team of 17 people, conducted a successful Kickstarter campaign and secured financing of SEK 20 million from Founder.org and Moor, one of the largest seed investments in Sweden.
− One of our best decisions was to join STING. Being a part of this community has given so much. We are now aiming high. In two years, we have launched a platform where the end user can easily obtain their measurements and then choose from thousands of products and suppliers. Customization should be the norm, not a luxury, says Caroline Walerud, CEO and co-founder of Volumental.
Watty will stop energy waste
There is more energy to be saved in our homes than in the rest of the community combined. Wattys smart device connects to the electricity meter and collects energy data from the home. A software then lists which appliances are energy thieves. Everything is done automatically, allowing consumers to easily keep track of where there are opportunities to save energy as well as money.
Since Watty came to STING two years ago, the team has grown from one to ten people. In addition to developing a world-class technology, they have built Sweden’s largest database of energy consumption and raised SEK 10 million in funding from angel investors and from the Swedish Energy Agency.
− My goal is to help accelerate the change toward a sustainable society. Watty is on the cutting edge of change by utilizing energy data for attacking one of humanity’s toughest challenges. With IT one person can reach billions of others, and we, as a small IT company, can create a global effect. It is really cool, says Hjalmar Nilsonne, CEO and founder of Watty.
At the Take-off ceremony, Cgrain, Volumental and Watty received the award “Certified by Sting” as proof that they have undergone STING’s incubator program and are now ready to take the next step toward global expansion.