– Snigel is growing at a record pace and we have secured a strong position within the defense industry. There is great interest in our sector and we are pleased to attract investors like eEquity. We have ambitious growth plans and this partnership is very welcome, says Malin Hlawatsch, CEO of Snigel, in a joint press release from Snigel and eEquity.
After the transaction, eEquity and its co-investors together own approximately half of the company's shares. According to the venture capital firm, the investment is part of a broader development where the EU and NATO are urging member countries to increase their defense budgets.
– Europe is facing a significant expansion of total defense, where Snigel's products play an important role. We hope to support the company in its growth journey with our expertise in international expansion, says Magnus Wiberg, Managing Partner at eEquity.