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The Venture Codex

Propel Capital

Östermalmsgatan 26 A, Stockholm, Stockholm County, 114 26, Sweden

Overview

Propel Capital is the investment arm of Sting, the leading eco system for startups in the Nordics. The funding of Propel Capital comes from experienced angel investors who also often direct invest in Propel Capital companies. Propel Capital only invests in companies accepted to Sting and the investment size is normally approx. 50 000 EUR.

Total investments
6
Lead investments
1
Investments · 12mo
0
Active investors
3

Sector focus

  • Asset Management
  • Finance
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Investment portfolio

  • Seaqure labs

    Participated · Seed · Aug 2025

    Seaqure Labs develops mycelium-based feed ingredients for aquaculture using fungi and industrial sidestreams. The company’s fermentation technology uses solid-state fermentation and strains approved for human consumption (FDA/GRAS) to produce protein-rich, dried mycelium ingredients. Their products claim at least 50% lower carbon emissions, six times less water use, and five times less land per kilogram than soymeal, while offering a balanced amino acid profile, beta-glucan, and essential minerals. Laboratory and pilot tests show high digestibility in fish and indicate prebiotic effects that may increase yields; trials completed for rainbow trout with poultry trials ongoing. The process is designed for local production near feed manufacturing sites and sidestream sources, and can produce ingredients for aquaculture, pet, and other animal feeds. Seaqure Labs closed a €470K pre-seed round to continue developing and scaling its mycelium feed technology.

  • Hypertype

    Participated · Seed · May 2022

    Hypertype is a Swedish startup that provides an AI service to automate and simplify customer communications for support and sales teams. Founded in 2021 by Teenie Fung and Beatrice Baltscheffsky, the product combines company-specific information retrieval with text generation to improve response quality and consistency. After three years of product development, Hypertype says it already serves over 200 paying companies and demonstrates high customer satisfaction and low churn. An internal survey showed the product saves an average of seven minutes per response for users, increasing speed and consistency. The company plans to expand, focusing on marketing and sales to gain customers across the Nordics, Europe, and the USA. Hypertype will use the new funding to scale operations and support growth. Founded in 2021 by Teenie Fung and Beatrice Baltscheffsky, Hypertype is a Stockholm-based NLP platform that analyzes emails to surface relevant historical information in real time. The company is building its product on proprietary NLP technology to extract context from email chains and documents, aiming to make data search more relevant and instantaneous. Hypertype’s tool is designed to reduce the time sales teams spend manually scrolling through emails and documents to find single pieces of information. A fully-fledged product is currently under development. The firm plans to use newly raised capital to accelerate product development and build out ML tools. Hypertype recently completed a €1.15 million pre-seed financing to support these efforts.

  • imagi

    Participated · Seed · Feb 2021

    Imagi builds classroom tools and curriculum to teach K–12 students coding, basic computer skills and AI literacy, and it partners with tools like Lovable to provide controlled, teacher-managed access to vibe coding. The platform screens every prompt and generated response and asserts compliance with COPPA, FERPA and GDPR to avoid retaining student data or allowing partners to train on student activity. Imagi trains teachers on using AI and computational tools so they can confidently teach students how to build with AI rather than just consume it. Since launching in 2018, the company says it has reached more than 700,000 students across 140 countries. OpenAI provided $1 million in credits to enable free access to the Imagi x Lovable tool for schools. Imagi plans to use fresh capital to expand into more K–12 schools, grow district sales efforts, hire staff, add product features and launch a new platform next month.

  • Mursion

    Participated · Series A · Mar 2019

    Mursion provides immersive VR training that blends AI with live human-guided avatars to help employees practice emotional intelligence and other critical workplace skills. The platform offers customizable, scalable virtual simulations for leadership development, conflict resolution, clinical reasoning and sales. The company emphasizes training for Diversity, Equity, and Inclusion (DEI) to build trust and support courageous conversation between managers and teams. Mursion is led by CEO Mark Atkinson and Chief Technology Officer Arjun Nagendran. The company has established partnerships with T-Mobile, Coca-Cola and LinkedIn and has signed new deals with H&R Block, Indeed, Blue Cross Blue Shield and Johnson & Johnson. Mursion closed a $20m Series B financing, reflecting recent investor interest in its immersive training approach. Mursion builds VR simulations that combine artificial intelligence and live human interaction to train essential workplace interpersonal skills. Its platform stages realistic interactions between learners and avatars to drive measurable outcomes in areas such as leadership development, sales enablement, customer service, and diversity and inclusion. The technology is hardware-agnostic, available in VR and a lightweight 2D format, and is designed for use across industries including retail, hospitality, and professional services. Mursion is used by more than 150 employers, including Comerica, LinkedIn, eBay, Coca-Cola, and Nationwide. The company announced an $8M Series A funding round, supporting its commercial growth and product deployment.

  • Selected

    Led · Seed · May 2018

    Selected operates a teacher-to-school matching platform that uses profile-matching technology and preference questions to connect candidates with schools that fit their teaching style and culture. The product collects objective data such as certifications and location preferences, screens certifications, assists with résumés, and offers coaching to applicants. Teachers receive around five matches in their first week and average about 15 matches total. Since launching in May 2016, Selected placed roughly 100 teachers in its first school-year cycle and has expanded to reach 10,000 teachers and over 500 pre-K–12 public and private schools, primarily across Northeastern U.S. metros. Its sole revenue source is a fixed fee charged to schools when a teacher is hired. The company aims to reduce teacher turnover by improving culture fit and plans to continue developing its business in the Northeast before expanding nationwide.

Team

  • Emanuel Andersson

    CEO

    LinkedIn
  • Pär Hedberg

    Founder & Director of the Board

  • Niclas Lilja

    Chairman of the Board

    LinkedIn