Today Serstech announced that it has received €1.4M (SEK 12M) in an oversubscribed new issue of shares. Serstech has developed a technology that helps customs, police, rescue and military forces to quickly and easily identify chemical powders, pills and liquids.

“Current solutions are impractical and expensive because of the size and handling. Our spectrometer can be used in many places and really revolutionize our customers’ decision-making”, explains Peter Höjerback, CEO of Serstech

The money will be used for mass production of its handheld spectrometer, which within seconds tells what kind of chemicals you touch. At the same time it gives the company the opportunity to build up its international network of system integrators and resellers. The company will soon be listed in a public IPO according to sources.