EAST HILL EQUITY
2022/12/16

Scania Growth Capital invests SEK 50 million in Swedish logtech company


Scania Growth Capital makes its first new major move and invests SEK 50 million in SiB Solutions. The capital fund’s management company East Hill Equity believes SiB Solutions can improve the logistics sector and sees great potential in the company’s continued global expansion.

Scania’s new EUR 200 million hybrid venture capital fund went live in November, continuing its predecessor’s focus on the most attractive companies and entrepreneurs in the B2B tech space. Scania Growth Capital, managed by East Hill Equity, a company with extensive experience from venture capital investments in the B2B environment and offices in Stockholm and Berlin, now announces its first new move and invests SEK 50 million in SiB Solutions, making Scania Growth Capital the largest minority owner in SiB Solutions.

“Reducing failures in the logistics chain is a key enabler for more efficient and sustainable transport solutions; picking, packing and loading represents the majority of errors in a typical logistic chain. We got in contact with the founding team at SiB Solutions about a year ago and they immediately got our attention, leading to this investment. We are excited to join the shareholder base and be a part of the exciting growth journey ahead together with the solid SiB team” says Daniel Riazzoli, Partner at East Hill Equity.

Goods worth about ten billion euros are gone missing in the logistics sector each month, and the costs for solving this are twice as much. SiB Solutions, founded in 2017, is a Swedish company operating in the logtech sector — combining proven technology such as video, with cutting edge technology such as AI, intelligent video analysis and industrial internet of things to solve this problem and deliver flawless logistics. 

“Despite the current global financial situation, we have shown continued success by establishing our business in the USA, UK and the Netherlands. This investment makes it possible for us to accelerate our global expansion and continue changing the world of logistics through groundbreaking technology,” says Stefan Borg, CEO at SiB Solutions.

topic
more

Black Semiconductor secures EUR 255 million in funding

Welcome Fredrik Eiserman

CYCLE receives $11.3 million

Welcome Cornelia Bjällerup

Scania Growth Capital lead investor in USD 10 million series A for German SaaS startup Vialytic

Scania & East Hill Equity

Roboyo ramps up global expansion with strategic acquisition of procensol

Roboyo strengthens cybersecurity and software capabilities with strategic acquisition of wemake

Roboyo strengthens consulting capabilities

Scania Growth Capital invests in Parcelly

AKOA join forces with Roboyo

Sensors for autonomous vehicles

Roboyo and JOLT Advantage Group join forces

sennder raises $160m, surpassing $1 billion valuation

sennder acquires Uber’s European freight business

sennder joins forces with Everoad

Scania Growth Capital invests in digital platform for construction logistics

Scania Growth Capital invests in Business Process Automation SaaS

Sennder raises $ 100M in 2019

Scania Growth Capital invests in leading carbon fiber solutions provider

Scania Growth Capital invests in Swedish automation company

Scania Growth Capital invests in digital freight forwarder

Enersize listed on Nasdaq

Scania Growth Capital invests in smart factory company

Scania launches venture capital fund