SEB Venture Capital invests in Actiwave
SEB today announced that Actiwave AB, a Swedish start-up technology company has raised 15 million SEK in a rights issue lead by SEB Venture Capital. SEB also acquired all shares held by the current seed financier, Innovationsbron.
Founded in 2007 by Pär Gunnars Risberg, Actiwave AB is a Swedish start-up company that has developed a unique algorithm that significantly improves sound reproduction. The company has combined various research findings to pioneer an innovative technology that provides considerably enhanced sound quality to loud speaker systems, enabling small and flat panel speakers to reproduce a richer and wider sound spectrum. The technology can be applied to loudspeakers in consumer electronics such as flat-screen televisions, laptops, tablet PCs and mobile phones. The capital from the rights issue will enable both the launch of Actiwave’s own speaker brand, Opalum, and the licensing of the Actiwave technology to manufacturers of consumer electronics.
Ulf Lewander, Investment Manager at SEB Venture Capital, and David Sonnek, head of Technology Investments at SEB Venture Capital commented “Actiwave has succeeded in developing a highly innovative technology. By complementing technical excellence with a strong commercial drive Actiwave opens up a potentially huge market. We look forward to continued successful development of the Company and would like to thank Innovationsbron which has been an important partner in the Company’s early development stage.”
Pär Gunnars Risberg, CEO and Founder of Actiwave says: “This is an important milestone for Actiwave. The capital investment not only allows for faster development, gives the company a stronger market standing, but is a good example of one of the Swedens most renowned venture capitalists developing a strong international business with a foundation in innovative Swedish technology.”
SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank’s operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB’s business is reflected in its presence in some 20 countries worldwide. On 31 March 2011, the Group’s total assets amounted to SEK 2,118 billion while its assets under management totalled SEK 1,372 billion. The Group has about 17,000 employees. Read more about SEB at www.sebgroup.com.
SEB Venture Capital
SEB Venture Capital unit was founded in 1995 and is part of the SEB Group. With a capital base of 2.5 billion Swedish kronor it currently has 35 investments in growth companies in the portfolio and has carried out 45 exits since its inception. www.seb.se/venturecapital
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