Enginio raises SEK 30 million from Industrifonden and leading retail profiles to accelerate growth

Enginio, a Swedish tech scale-up with a unique platform for consumer activation, raises SEK 30 million in its first external investment round. The anchor investor in the transaction is Industrifonden. Other investors are Fabian Bengtsson and Magnus Sigurd, both with extensive experience in retail, and the Finnish tech VC company Gorilla Capital.

Enginio's platform brings together all types of consumer activation in one end-to-end solution for brands that want to interact with their customers. The global brand activation and promotions market is estimated at $978 billion, and it is expected to double in the next 6 to 8 years. Today, activation efforts are often stuck in silos, where campaigns are run by brands in local markets with local agencies, limiting brand impact.

On a platform that brings together consumer activations, campaigns, promotions and loyalty programs, Enginio simplifies and streamlines how companies, agencies and retailers work directly with consumers. Enginio already has a broad customer base and is established in 22 markets in Europe. With a goal of doubling sales annually over the next five years, the capital injection is an important part of the development going forward.

- We put the brand in the driver's seat by bringing together hundreds of different features on a common platform. This cuts both costs and lead times. We already have a loyal customer base of established brands in Europe, but now we will take it to the next level and meet the high demand in the market. With our new investors, we secure both capital and extensive experience in retail and forward-leaning expansion journeys, says Martin Sohtell, CEO & Founding Partner at Enginio.

- We were impressed by the team's deep understanding of the market and their ability to translate that knowledge into a product that solves concrete problems for customers. Enginio helps brands streamline and automate processes that have traditionally been both time-consuming and costly. With a strong platform and an established presence in several markets, we see good conditions for the company's continued expansion, says Tore Tolke, Senior Investment Director at Industrifonden.

The capital injection will strengthen Enginio's growth journey through the development of the platform and expansion into new markets and verticals globally. By bringing in investors with deep knowledge in retail and SaaS companies, Enginio is now ready to further develop its platform, from today's subscription-based business model to a full-scale and comprehensive SaaS solution.