🇸🇪 Incipientus Ultrasound Flow Technologies closes eight-figure funding round to revolutionize industrial liquid process monitoring

Press release from Butterfly Ventures

The funding round was led by Butterfly Ventures and co-led by Seven District and Marinvest.

Gothenburg, Sweden – September 8, 2023

Incipientus Ultrasound Flow Technologies AB is a progressive deep tech company with a strong research background and a clear goal – to radically change and improve the industrial process monitoring and quality control of industrial liquids. Incipientus’ touch-free, in line process monitoring systems provide continuous process information and flow visualization and monitoring of flow properties of industrial liquids in real time. The result is significantly improved quality and increased safety with production cost savings and environmental benefits for a sustainable global process industry as well as increased product and production insights. Incipientus has recently signed critical framework agreements with key customers as no similar solution exist on the market. The current funding round allows Incipientus to accelerate the scale-up phase by focusing on the implementation of our developed technology within international key customers and to continue to build the pipeline and team to meet commercial milestones. For more information visit https://www.incipientus.com/.

Butterfly Ventures is the leading Nordic deep tech seed entry impact fund (“BVF”). BVF has invested in over 90 companies across 250 investment rounds. Founded in 2012, BVF has offices in all the major Nordic and Baltic innovation hubs, Stockholm, Helsinki, Oulu, Copenhagen, and Tallinn. The team is currently investing out of BVF Venture Fund IV, launched in mid-2022 and a trailblazing Article 8 SFDR Green Fund. BVF looks to invest at seed and continue through series A and B and into transformative and impactful technologies at the intersection of software, hardware, and science. Butterfly Ventures’ investment team consisted of Tanya Horowitz, partner, and Ludvig Hambraeus, investment manager. Both based in BVF’s Stockholm office.

Tanya Horowitz commented on the investment round:

“We are thoroughly excited to announce our investment in Incipientus. The company has an experienced management team, perfectly positioned to accelerate, and drive organic growth and leverage its cutting-edge technology application, using a combination of pulsed ultrasound technology and touch-free sensors; therefore, building the cornerstone towards solidifying their unique market position. BVF and I personally have great experiences from working with operators and innovators out of Gothenburg and are thrilled to join forces with some amazing co-lead investors, Seven District and Marinvest. We are always excited to back ventures from the west coast and look forward to the opportunity to engage further with the ecosystem.”

Johan Wiklund, founder and CEO of Incipientus, said:

“This is a key moment in the development of our company and the funding round allows us to focus on accelerating the ramp-up of our business. We are very excited and fortunate to welcome BVF, Seven District, and Marinvest onboard as they all bring tremendous value. Together we now continue our growth journey to radically disrupt and digitalize the global process industry by delivering superior process monitoring solutions for sustainable production.”

Funds from this round will be used to ramping up commercial efforts focused on securing additional customer agreements, enhancing the hardware product platform as well as software capabilities, continue growing operations and scaling of the team.

Some of Incipientus´ significant previous milestones include securing framework agreements with international key customers, multiple factory evaluations and inclusion in the GU Ventures Incubator Program and twice recognized on the IVA 100 List (2019, 2020).

For further information please contact:

For the Investors

Butterfly Ventures Ltd.
Tanya Horowitz – [email protected]
Ludvig Hambraeus – [email protected]

Seven District
Per Skoglund – [email protected]

Marinvest
Patrik Mossberg – [email protected]

For the Company

Chief Executive Officer, Johan Wiklund – [email protected]
Chief Technology Officer, Reinhardt Kotzé – [email protected]

Originally published on 8 September.