🇸🇪 Texray successfully closes SEK 45 million investment round led by Industrifonden

November 24, 2023

Texray successfully closes SEK 45 million investment round led by Industrifonden 

Texray, a pioneer in radiation protection solutions, is pleased to announce the successful completion of a SEK 45 million investment round led by Industrifonden and supported by private investors at Impilo. This round significantly exceeded expectations, highlighting the robust investor interest in Texray’s innovative technology.

Texray specializes in developing advanced radiation protection solutions, addressing a critical problem healthcare professionals face. During x-ray-guided surgical procedures, these professionals routinely encounter some of the highest levels of radiation exposure in the field of medicine. Current radiation protection gear often leaves body parts such as the head and neck areas exposed, making medical staff potentially vulnerable to radiation-related health risks. Several comprehensive studies have underlined the elevated risk of malignancies and radiation-related diseases, such as cataracts, brain and neck tumors, among those exposed to radiation. The need to address this critical gap in radiation protection is urgent.

Texray’s groundbreaking technology not only offers the highest level of protection but also prioritizes the comfort and well-being of healthcare professionals dedicated to the safety and care of others. The company is revolutionizing the field of Personal Protective Equipment (PPE) with its patented technology platform. The platform has secured CE/FDA registrations and regulatory approvals across key global markets, including Europe, Japan, and the US.

Petra Apell, CEO of Texray, commented: “We are thrilled by the immense support we have received from investors who would like to join us on our journey when we aim to become one of the world’s leading companies in radiation protection. This investment will enable us to accelerate commercialization and to further our mission in advancing occupational safety for healthcare professionals with our cutting-edge technology.”

Texray currently offers two regulatory- approved products in its portfolio, used by over 1000 customers. This trust is further supported by strong endorsements from numerous key opinion leaders within the medical community. As Texray stands on the cusp of a broader market launch, the company’s dedication to revolutionizing radiation protection has never been more evident.

Tobias Elmquist, Senior Investment Director at Industrifonden, commented: “There is a growing awareness of the risks associated with radiation exposure among healthcare professionals, and Texray stands as the sole provider of a radiation protection textile that combines optimal shielding with a comfortable design, setting new industry standards for safety and comfort. Their technology represents a critical leap forward in safeguarding the lives of those who dedicate themselves to the well-being of others. We believe in the Texray mission and are excited to be part of their journey.”

About Texray
Texray, based in Gothenburg, Sweden, has developed the world’s first radiation protection textile to address the need for comfortable and safe personal protection equipment (PPE). The Texray material is currently used in products designed for healthcare professionals exposed to X-ray radiation during surgical interventions. The Texray material may also provide value for professionals in various industry sectors, including nuclear, aero, and space.

Learn more about Texray ↗

Originally published on 21 November by Industrifonden.

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