July 23, 2018

Alex Therapeutics receives funding from the King founders

Last year the billionaire entrepreneurs behind King.com founded the venture fund Sweet Studio. The fund, which manages roughly 100 million SEK in capital, has now made its first investment in Alex Therapeutics. 

Alex Therapeutics receives funding from the King founders

Last year the billionaire entrepreneurs behind King.com founded the venture fund Sweet Studio. The fund, which manages roughly 100 million SEK in capital, has now made its first investment in Alex Therapeutics.

Sweet Studio and Alex Therapeutics

After the massively successful video game developer King.com was purchased for over 50 billion SEK by Activision Blizzard, the founders have now invested part of their fortune in twenty new tech companies through the venture fund Sweet Capital. The fund can best be described as a venture fund oriented towards providing tech entrepreneurs with both capital and product development support from a very early stage.

According to the CEO, Anders Frostenson, the fund has had an eventful start, even though they’ve avoided excessive public attention. That will however change going forward, as the fund announces that Alex Therapeutics is the first company to secure an investment.

This is Sweet Studios' first investment. Together with the founders of Alex Therapeutics, we’ve been involved in building and designing the product. Sweet Studio has secured a stake in Alex following an initial investment of SEK 1.5 million prior to market launch.

- Anders Frostenson, CEO at Sweet Studio.

Through the investment Anders Frostenson also joins the board of Alex Therapeutics. The King founders are experts in product development, customer design and international expansion and Alex is very appreciative of their insight and experience. Sweet Studio has also announced that they are prepared to follow up their investment in Alex during the upcoming round.

When developing software as a medical device that will be used by patients globally, it’s crucial that their design is user friendly. We’re very grateful to have Sweet Studio and their expertise with us in this early stage of the company.

– John Drakenberg Renander, CEO at Alex Therapeutics

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