STING Capital invests SEK 4 million in unique data backup concept and gaming console that stimulates movement

Publicerad: 2008-12-03

Sting Capital, one of Sweden?s few venture capital funds that invests at an early stage, is defying the financial crisis and investing SEK 4 million in two companies, Movinto Fun and Byteactive.

STING Capital has together with private investors invested in the firm Movinto Fun AB. Capitalisation of the company has been initiated in order to prepare for an international launch of its first product, BodyBug – a portable gaming console that stimulates movement, with your own personality and associated online community, mainly targeting young girls.

The company Byteactive AB has developed a completely new and unique solution for continuous data backup of all data, such as data present on your laptop. The technology is based on peer-to-peer (P2P) combined with a unique data storage and compression solution. The fund is initially to invest SEK 2 million in the company, which is now to begin commercialisation.

Jin_&_Marie_Moveinto_Fun.jpg
The founders of Moveinto Fun AB - Jin Moen and Marie Persson Björkman

Byteactive CEO Tobias Ekbom and marketing manager Daniel Lovas