Qoitech AB welcomes a new investor and shareholder Investment AB Latour (publ), which through its subsidiary Latour Future Solutions AB becomes a new minority shareholder in the company.
Lund-based Qoitech helps companies with battery-powered products to increase product life, reduce battery use and increase customer satisfaction. The company has developed unique solutions for energy optimization of battery-powered products as well as testing and verification of batteries and energy harvesting technologies. Qoitech was named one of Sweden’s most promising tech startups in Ny Teknik’s 33 list earlier this year.
The business is a spin-out from Sony Mobile. Qoitech is headquartered in Lund with 9 employees.
Sales are made on a global basis and customers are located in some 60 countries. Customers include a number of the world’s more well-known product companies. Last autumn, the portfolio was expanded to include higher voltage products for the use and optimisation of everything from Internet of Things to mobility products.
“We are seeing a growing realisation by product companies of the importance of the battery not only for increased durability but also to deliver on customer promises of product lifetime. As it stands, we have more opportunities than we can handle. With Latour as a long-term and industrial partner, we can continue to grow both internationally and in new customer segments,” says Vanja Samuelsson, CEO of Qoitech and one of the company’s three founders.
“One of our areas of investment is in the electrification of industry. Qoitech enables better battery utilization, sustainable electrified products and shortened lead times in the development phase,” says Pelle Mattisson, CEO Latour Future Solutions AB.
After the investment, the company is expected to be fully funded for next year’s ambitious growth plan.
Vanja Samuelsson, CEO Qoitech