Sweden Ballistics banked €30M in a fresh equity round to expand European production of military explosives. The investment includes backing from Sverker Göranson, the former Supreme Commander of the Swedish Armed Forces, alongside Thomas von Koch, former CEO of private equity firm EQT.
Based in Stockholm, the company manufactures high-performance ballistics and essential raw materials for the defence industry. Its primary focus is increasing the domestic production capacity for TNT and hexogen, two critical components for artillery shells and ammunition currently facing severe supply chain shortages across the continent.
The funding arrives as European governments seek to decrease reliance on imported munitions and rebuild sovereign manufacturing capabilities. Sweden Ballistics provides the industrial physical infrastructure required to move from theoretical defense quotas to actual stock piles by providing high-explosive chemicals at scale.
This capitalise-heavy expansion reflects a broader shift in the regional ecosystem, where veteran military leaders and private equity figures are increasingly directing capital toward "sovereign tech" and domestic industrial resilience.
Originally reported by Tech Funding News.