Nanolyze, a Gothenburg, Sweden-based startup focused on applications for biological nanoparticles, announced the completion of a SEK 11 million ($1.3 million) capital investment round.

The money was raised from investors from Sweden, including Stoaf, Gobia Enterprises and Quinary Investment, joined by Almi Invest and Länsförsäkringar Göteborg och Bohuslän. Proceeds will be used for product development and market entry. Targets include growing the team within both R&D and business development, pharmaceutical and academic customers, and delivering functional prototypes including software, instrument hardware, and disposables.

Nanolyze, founded in 2020 and led by CEO Nils Löfgren, focused on applications for biological nanoparticles in the overlapping field of physics and biology. Its methodology includes a microscope, fixture for chip, disposable chip for nanoparticles and analyzing software, used to analyze and identify nanoparticles without affecting the particle and thereby risking erroneous measurements. In this way, it is possible to make measurements in real time and save analysis time, as Nanolyze’s technology replaces several existing methods.