H&M Chair Joins Funding Round for Swedish Startup Flower
- Karl-Johan Persson among the investors in Series A financing
- Latest round of €45 million intended for European expansion
This article is for subscribers only.
A Swedish startup focused on energy storage and grid technology raised an additional €20 million ($21.7 million) from a financing round backed by investors including Hennes & Mauritz AB chairman Karl-Johan Persson and led by Northzone Ventures Sweden AB.
Flower Infrastructure Technologies AB, founded four years ago by John Diklev while a university student in Stockholm, lays claim to having Sweden’s largest portfolio of battery systems for electricity storage. The funding announced Thursday completes a €45 million round, taking total investments to €100 million, according to a statement.