Funding & Propel Capital

How is the number of shares that Propel Capital receives after conversion calculated?

Propel Capital’s investment converts in two parts: • 400 SEK converts with a 30% risk discount on the terms of your next qualified financing round, with a valuation cap of 20 million SEK. • 200 SEK converts on the same terms as the round, without a discount or cap. The number of shares is calculated based on the valuation and terms of the round at the time of conversion.

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How is Turbine Capital different from Propel Capital?

Propel Capital offers early-stage funding (600,000 SEK) to startups in all industries through Sting, typically as a convertible note during the program. Turbine Capital is a dedicated DeepTech fund, investing larger amounts (5–10 MSEK) into startups with significant technical complexity and longer R&D timelines. Startups may be eligible for one or both, depending on their focus

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Who can receive funding from Turbine Capital?

Turbine Capital primarily invests in DeepTech startups that are science- or research-based and have the potential to solve big, global problems. Companies in the Sting Core program that meet Turbine’s investment criteria may be introduced directly to the fund.

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What is Turbine Capital?

Turbine Capital is an early-stage VC fund focused on DeepTech startups, co-founded and built by Sting. It invests in breakthrough technologies with strong scientific foundations and global potential, typically in the range of 5–10 MSEK for the first ticket. Turbine operates independently but works closely with Sting to identify and support promising DeepTech ventures.

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