Mimbly, a cleantech company based in Gothenburg, has successfully secured €3M in funding to drive the expansion of its sustainable laundry technology. Despite adverse financial outcomes in recent years, the company demonstrates ambition in its commitment to sustainable solutions within the laundry sector. This funding marks a significant step forward for Mimbly, emphasizing water conservation in everyday household activities.
When looking at prior developments, Mimbly’s historical financial performance highlights its strategic investments. In 2024, the company raised SEK 16M but faced financial challenges with a loss of SEK 12.1M, yet that was a notable improvement over the preceding year, which saw a SEK 18.9M loss. This shift underscores an improving trajectory, hinting at the potential effectiveness of its business model as it scales up operations.
How Does the Mimbox Work?
The cornerstone of Mimbly’s product line is the Mimbox, a patented system designed to enhance water use efficiency in washing machines. Acting as an external unit, the Mimbox collects wastewater, filters out microplastics, and checks water quality before reuse. It supports clients like Coor Service Management and Sodexo in their sustainability endeavors.
What Are Mimbly’s Ambitions?
The fresh capital injection will be instrumental as Mimbly scales its global footprint. The company aims to refine its technology for broader application, striving for profitability by 2026. CEO Isabella Palmgren indicated optimism about achieving robust financial gains.
Mimbly is cementing its vision by enhancing water and energy efficiencies across diverse sectors.
Participating investors such as Electrolux Professional Group and Almi Invest are keen on steering the company towards breakthroughs in sustainable practices. These alliances reflect a shared commitment to evolving environmental, social, and governance (ESG) standards.
In practical terms, the Mimbox’s capacity to recycle 70% of wastewater, capture 90% of microplastics, and save up to 30% energy positions it as a noteworthy player in the sustainability domain. This aspect aligns with evolving consumer preferences and regulatory measures on reducing environmental impact.
“Our aim is to bolster eco-friendly laundry practices all over the globe,” expressed Palmgren.
Mimbly’s journey paints a hopeful picture for sustainable innovation. The new funding not only projects expanded market reach but also crucial product enhancements. Current trends in sustainability underscore the relevance of Mimbly’s solutions in reducing resource wastage, potentially setting a benchmark for future technological ventures.
