# Modern Car Group International

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/modern-car-group-international

- Industry: Internet
- Headquarters: Stockholm, Sweden
- Website: www.moderncargroup.com
- Total disclosed funding: $0.2M
- Latest round: Seed (Mar 22, 2017)
- Investors on record: 2

## About

Modern Car Group International Ab is a Swedish automotive firm specializing in innovative vehicle solutions. The company focuses on enhancing the driving experience through advanced technologies and services tailored for modern drivers.Founded in 2014 and headquartered in Stockholm, Sweden, Modern Car Group International Ab operates in the automotive sector, offering vehicle solutions. The firm has not undergone any significant pivots or changes in business strategy since its inception. Karl-Johan Karlsson, the founder, has a history of involvement in the automotive industry. The company successfully completed its Seed funding round in March 2017, raising SEK 1.7 million, with ALMI Invest leading the investment alongside Spintop Ventures. The total amount raised to date stands at SEK 1.7 million.Modern Car Group International Ab provides a range of automotive solutions designed to enhance vehicular performance and user experience. Their offerings include advanced vehicle technologies, services tailored to modern driving needs, and innovative solutions aimed at improving safety and efficiency on the road. The company caters to a diverse clientele, including both individual drivers and fleet operators, ensuring their products meet various market requirements across Sweden and potentially beyond.In the most recent fiscal year of 2021, Modern Car Group International Ab reported a revenue of SEK 914,320.1, while the EBITDA for the same year was SEK -75,700.4. The revenue primarily stems from vehicle solutions and services, which are designed to address the needs of their diverse customer base.Looking ahead, Modern Car Group International Ab plans to introduce new automotive technologies and services aimed at expanding its product lineup. The company is exploring opportunities to enter additional markets beyond Sweden, with specific focus on neighboring European countries by 2025. The recent Seed funding of SEK 1.7 million will be allocated to support product development and market expansion initiatives, enabling the company to enhance its offerings and reach a broader audience.

## Funding rounds

- Seed, Mar 22, 2017, $0.2M — ALMI Invest, Spintop Ventures

## Investors

- ALMI Invest — Seed
- Spintop Ventures (https://capitalatlas.ai/funds/spintop-ventures) — Seed