Swedish company Flexotrap is raising SEK 5 million in new capital to meet growing demand from the defence sector in Europe. The investment is led by NXT Resilience and will be used to increase the company's delivery capacity, according to a press release.
"We have an established supply chain and deliver with high precision. This investment enables us to further strengthen our capacity and meet the growing international demand we are seeing. At the same time, it gives us the opportunity to continue growing without compromising on quality or delivery times," says Elias Mibesjö, CEO of Flexotrap.
Flexotrap develops modular bullet trap systems and mobile shooting ranges. The company has, among other things, delivered systems to French special forces and expanded an existing shooting range facility for the Swedish Armed Forces (Försvarsmakten). The company states that discussions are ongoing with a number of additional NATO member countries.
The capital will be used to strengthen the organisation and enable deliveries in ongoing and upcoming projects, with a focus on international expansion.
"Flexotrap addresses a clear and growing need within modern training infrastructure for defence and security. The company has established a strong position both with its technology and its market presence, and we see great potential to jointly accelerate its international expansion," says Michael Gunnarsson-Ferm, representative of NXT Resilience AB.