Rapidus reports that Lund-based Sib Solutions, which develops AI-driven video analysis for logistics, is growing rapidly in the US and has topped up its cash reserves to keep the pace, according to Rapidus. The company’s systems monitor goods as they are handled in warehouses and warn when something is mishandled.
So far this year, Sib Solutions has doubled its contracted annual recurring revenue (CARR) in the US, and the company has now raised 20 million kronor, approximately €1.7 million, from new and existing shareholders, including its largest single owner, Scania Growth Capital. CEO and co-founder Stefan Borg would not disclose the full details, but told Rapidus that more than half of the company’s revenue now comes from markets outside the Nordics, with average CARR growth of 30 to 40 percent.
The vision is to reach profitability in 2027, although Borg stresses that the company could be profitable today if it turned down its growth targets.
“We don’t want to gamble away our growth opportunities. Right from the start, the plan was to become a leading global player in our niche. We have invested heavily in building a structure that can handle strong growth, and now we will invest even more to accelerate further,”
Stefan Borg told Rapidus.
