Fast-growing The logistics technology company SiB Solutions is conducting a new share offering and raising 50 million kronor. The investment comes from Scania’s new billion-krona fund, Scania Growth Capital II, which has just been established. The fund and existing owners of SiB Solutions also have an option for an additional 37 million kronor, meaning a total of 87 million kronor can be invested in the company. The funds will be used to support SiB Solutions’ continued global expansion and the development of its intelligent video analytics and AI offerings, with the goal of minimizing errors in logistics processes.
SiB Solutions conducted its most recent stock offering in 2021. At that time, the company raised 50 million kronor from new and existing investors. Amid a challenging investment climate in 2022, in which many publicly traded companies have seen a sharp decline, SiB Solutions is bucking the trend. With the investment from Scania Growth Capital II, the fund becomes the largest minority shareholder in SiB Solutions. Together with existing owners, the fund has an option to invest an additional 37 million Swedish kronor. The investment in SiB Solutions marks the fund’s first investment.
– We have performed very well and are satisfied with the results given the current market conditions, and we have not been affected by the sharp downturn that many have had to endure this year. We have successfully established ourselves in the U.S., the U.K., and the Netherlands, while also signing agreements with new customers in Sweden,” says Stefan Borg, CEO of SiB Solutions.
Scania’s new fund, Scania Growth Capital, is managed by East Hill Equity with an initial capital of 200 million euros. The fund focuses on investments in B2B businesses offering software, products, solutions, and services in the areas of mobility, connectivity, autonomy, electrification, and sustainability.
– Reducing errors in the logistics chain is a key enabler of more efficient and sustainable transportation solutions; picking, packing, and loading account for the majority of errors in a typical logistics chain. We first came into contact with the founding team at SiB Solutions about a year ago, and they immediately caught our attention, which led to this investment. “We’re excited to become shareholders and have the opportunity to be part of a growth journey alongside the stable SiB team,” says Daniel Riazzoli, partner at East Hill Equity.
In the logistics industry, goods worth ten billion euros go missing every month. At the same time, the costs of rectifying these problems are twice as high. SiB Solutions is changing that with the help of AI and intelligent video analytics that can detect errors and anomalies in logistics operations.
“This investment will enable us to continue transforming the world of logistics with groundbreaking technology while shifting into high gear when it comes to our international expansion,” says Stefan Borg.
SiB Solutions has previously announced that it was planning an initial public offering as its next step, but given the current market conditions, it is considering other options.
“We saw an initial public offering as a good next step, but as we now look to the future, we see several different opportunities for SiB Solutions. We will evaluate these and choose the path that best suits the company’s continued development,” says Stefan Borg.
The largest shareholders in SiB Solutions following the new share issuance are the founders Stefan Borg, Lennart Bergström, and Staffan Persson; Scania Growth Capital II; Mats Johansson; Anders Pettersson; and Nidoco.
