Increased investment from Propel Capital in new Sting companies
Propel Capital, the business angel company linked to Sting, closed a new round of capital earlier this fall. The sum of SEK 25 million was the largest so far, which results in the companies being accepted to Sting in 2020 being able to get a larger investment from Propel Capital when the investment sum now is increased from SEK 300,000 to SEK 400,000.
– The interest in investing in Propel Capital V has been by far the biggest we have experienced so far, and this means that we can now increase the investment from SEK 300,000 to SEK 400,000 and give the new Sting companies an opportunity to accelerate even faster this spring, says Maria Ljungberg, CEO of Propel Capital.
It was 42 experienced business angels who earlier this year invested SEK 13.8 million and Saminvest with 11.2 million in Propel. In addition, Saminvest has allocated SEK 45 million to match selected business angels’ direct investments in the portfolio companies.
Propel Capital invests in all companies that are accepted to the Sting Accelerate program and in a selection of the companies in Sting Incubate. Companies such as Karma, Sellpy, Woshapp, Airmee and Bluecall are examples of companies that are part of or have been part of the Propel Capital portfolio.
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