Sweden’s Echandia rides Europe's defence tech boom: "Already delivering to NATO"
4 mars 2025
12:04
Echandia, which develops battery systems for electric vessels, is growing rapidly – partly due to orders from NATO. The Swedish startup has now raised €19.5 million in capital, as demand for European-grown defence technologies steps up.
As Impact Loop’s Swedish-language sister site revealed in January, Swedish battery company Echandia had already raised €8.3 million in capital by the start of 2025.
Now the company has secured additional funding, from Spanish fund Alantra's energy transition fund, Klima, alongside Industrifonden (a Swedish government-backed venture capital firm). Swedish fund SEB Greentech VC and Japanese venture capital firm EEI were also involved.