About Minesto
Minesto is a company based in Goteborg (Sweden) founded in 2007.. Minesto has raised $2.5 million across 21 funding rounds from investors including EIT InnoEnergy, European Commission and European Union. Minesto offers products and services including Kite Systems, Site Development Services, and Operations and Maintenance. Minesto operates in a competitive market with competitors including Verdant Power, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy, among others.
- Headquarter Goteborg, Sweden
- Stage Public
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Minesto Ab
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Annual Revenue
$6.8 K (USD)-80.8as on Dec 31, 2024
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Net Profit
$-3.27 M (USD)-33.11as on Dec 31, 2024
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EBITDA
$-4.02 M (USD)-38.02as on Dec 31, 2024
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Total Equity Funding
$2.5 M (USD)
in 21 rounds
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Latest Funding Round
$264.88 K (USD), Grant
Feb 07, 2024
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Investors
EIT InnoEnergy
& 9 more
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Employee Count
Employee Count
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IPO & Listings of Minesto
Minesto is a publicly listed company on the OMXSTO with ticker symbol MINEST in Sweden, operating in the Utilities sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Minesto
Minesto offers a comprehensive portfolio of products and services, including Kite Systems, Site Development Services, and Operations and Maintenance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Subsea kites that generate electricity from tidal streams efficiently.
Services for planning and developing ocean energy sites worldwide.
Ongoing support for maintaining renewable energy installations.
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Funding Insights of Minesto
Minesto has successfully raised a total of $2.5M across 21 strategic funding rounds. The most recent funding activity was a Grant round of $264.88 thousand completed in February 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 21
- Last Round Grant — $264,877
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First Round
First Round
(06 May 2010)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2024 | Amount | Grant - Minesto | Valuation |
investors |
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| Sep, 2021 | Amount | Grant - Minesto | Valuation |
investors |
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| Jul, 2021 | Amount | Grant - Minesto | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Minesto
Minesto has secured backing from 10 investors, including institutional and venture fund investors. Prominent investors backing the company include EIT InnoEnergy, European Commission and European Union. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Government agency and accelerator focusing on innovative startups and SMEs
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Founded Year | Domain | Location | |
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An investment company focused on regional entrepreneurs and businesses is operated.
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Founded Year | Domain | Location | |
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Dunross is recognized as a global investment firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Minesto
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Minesto
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Minesto Comparisons
Competitors of Minesto
Minesto operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Verdant Power, Tocardo, Nova Innovation, Marine Current Turbines and EEL Energy, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Tidal turbines are developed and manufactured for hydropower projects.
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| domain | founded_year | HQ Location |
Manufacturer of tidal turbines
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| domain | founded_year | HQ Location |
Submerged turbine systems are provided for tidal energy conversion projects.
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| domain | founded_year | HQ Location |
Tidal power generators are developed for marine electricity production.
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| domain | founded_year | HQ Location |
Tidal currents are harnessed by the EEL Tidal Energy Converter.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Minesto
Frequently Asked Questions about Minesto
When was Minesto founded?
Minesto was founded in 2007 and raised its 1st funding round 3 years after it was founded.
Where is Minesto located?
Minesto is headquartered in Goteborg, Sweden. It is registered at Goteborg, Vastra Gotaland, Sweden.
Is Minesto a funded company?
Minesto is a funded company, having raised a total of $2.5M across 21 funding rounds to date. The company's 1st funding round was a Grant of $59.38K, raised on May 06, 2010.
What is the annual revenue of Minesto?
Annual revenue of Minesto is $6.8K as on Dec 31, 2024.
What does Minesto do?
Minesto was founded in 2007 in Gothenburg, Sweden, and operates in the renewable energy sector focused on tidal power. Underwater kite structures are provided, each integrated with a horizontal axis turbine, generator, rudder, and control system to extract energy from low-velocity ocean and tidal currents. Deep green tidal power plants are developed for deployment in marine environments, enabling efficient energy generation from natural water flows.
Who are the top competitors of Minesto?
Minesto's top competitors include Verdant Power, Nova Innovation and Tocardo.
What products or services does Minesto offer?
Minesto offers Kite Systems, Site Development Services, and Operations and Maintenance.
Is Minesto publicly traded?
Yes, Minesto is publicly traded on OMXSTO under the ticker symbol MINEST.
Who are Minesto's investors?
Minesto has 10 investors. Key investors include EIT InnoEnergy, European Commission, European Union, Welsh Government, and Swedish Energy Agency.
What is Minesto's ticker symbol?
The ticker symbol of Minesto is MINEST on OMXSTO.