Nenda has a subscription-based streaming solution to provide visitors with TV experiences in public environments. The company is now raising SEK 7 million from Manfred Aronson, a former MTG manager, among others.
Nenda launched its service last summer and started active sales this year. The solution is based on a subscription-based technology platform, called Saas or “Software as a Service” where customers can access mobile entertainment.
The platform has a library with on-demand movies and weekly recordings of linear TV channels such as SvT, TV4, and CNBC.
The target group includes hotels, gyms, nursing homes, hospitals and offices. Among the clients today are Biz Apartments and Amastine.
The company’s annual recurring income (ARR) was SEK 0.3 million in January and aims to increase it to SEK 10 million at the end of the year.
“Next year, strong growth is expected, both in Sweden but also in the UK and Germany, where demand and potential are great,” co-founder Carl-Johan Barnekow announced in an email.
In support of continued expansion, which will continue outside the Nordic region, Nenda has now raised SEK 7 million. Among the investors is Mandred Aronson, the former president of MTG
MTG B + 1.05%
Sweden and Cmore, Casper Bjørner, former president of Disney and financier Carl Palmstierna in the Nordic countries.
In total, the company has raised 21 million SEK since 2019.
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