21 Grams Raises SEK 20 Million from InnovationsKapital.STOCKHOLM, Sweden -- 21 Grams, a provider of postal management services, today announced that it has raised a SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20 million round of financing from the leading venture capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. InnovationsKapital. The funding will allow 21 Grams to aggressively grow the business on the Nordic market and to expand into other European markets. 21 Grams offers postal management services to corporate customers by leveraging its technology leadership in postage optimisation, in combination with its unique set of knowledge and experience of post, print and document management software. 21 Grams allows customers to outsource their non-core production of bulk mailings and to significantly reduce postage expenses. "We are very excited about the market opportunity and we think that 21 Grams has the potential to become the leading company within postal management services on the European business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in market" says Peder Holm holm n. Chiefly British An island in a river. [Middle English, from Old Norse h , Investment Director at InnovationsKapital. 21 Grams was founded in October 2004 by Stefan Blomqvist, previously CMO CMO See: Collateralized mortgage obligation CMO See collateralized mortgage obligation (CMO). and head of Europe at software company StreamServe. Since winning the first contract in December 2004, 21 Grams has developed the technology platform in co-operation with a spin-off company from the Royal Institute of Technology, Stockholm, and has successfully managed to introduce the concept of postage optimisation on the Swedish market. The strategy has been to use the Swedish market, being the only deregulated postal market in Europe, as a testing ground Noun 1. testing ground - a region resembling a laboratory inasmuch as it offers opportunities for observation and practice and experimentation; "the new nation is a testing ground for socioeconomic theories"; "Pakistan is a laboratory for studying the use of American and springboard for a large-scale international expansion from 2006 onwards, as more European markets get deregulated. "We are very pleased to have InnovationsKapital as an investor in 21 Grams. They have a strong track record of long-term investment commitments with companies of similar kind as 21 Grams. The new funding will allow us to continue our expansion in the Nordic market and to follow our current and new clients into the deregulating de·reg·u·late tr.v. de·reg·u·lat·ed, de·reg·u·lat·ing, de·reg·u·lates To free from regulation, especially to remove government regulations from: deregulate the airline industry. European postal marketplace, starting with the UK already this spring", says Stefan Blomqvist, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of 21 Grams. "The team is unique with extensive experience from the postal, printing and document management software industries. We look forward to working together with them to create a successful company", summarizes Peder Holm. Keystone Advisers acted as financial adviser to the company. About 21 Grams: 21 Grams is a leading virtual postal provider offering services such as postage optimisation and business process outsourcing of post and print to corporate customers. The company was founded in Stockholm in 2004 and has a network of over 40 postal operators and print shops in Northern Europe to deliver innovative postal services. Other partners to the company include SEB Noun 1. SEB - a form of staphylococcal enterotoxin that has been used as an incapacitating agent in biological warfare staphylococcal enterotoxin B , Handelsbanken and Bankgirocentralen. For more information, please visit: www.21grams.com About InnovationsKapital: InnovationsKapital is a leading Nordic early stage venture capital firm investing in innovative growth companies in Information and Communications Technologies and Healthcare & Life Sciences. InnovationsKapital has invested in more than 50 companies across the Nordic area since it was founded in 1994 - Altitun, Arexis, BioInvent, Carmen Carmen throws over lover for another. [Fr. Lit.: Carmen; Fr. Opera: Bizet, Carmen, Westerman, 189–190] See : Faithlessness Carmen the cards repeatedly spell her death. [Fr. Systems, Formex, Spotfire and Kreatel are examples of companies that InnovationsKapital has backed. The capital (Euro 200 million) is managed in three funds and is provided by highly reputable Swedish and international institutional investors. For more information, please visit: www.innkap.se. This information was brought to you by Waymaker http://www.waymaker.net |
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