Seven District and Ludvig Strigeus invest in Devant

October 12, 2023

In a vote of confidence, investors Seven District and Ludvig Strigeus have joined forces with Devant to inject a significant investment into the business. Together, and with the financial support from our investment partners, Devant will further establish itself as a leading figure within the synthetic data market.

The partnership with Seven District and Ludvig Strigeus arrive at a pivotal juncture in Devant's history as the company scales up deliveries to its in-cabin monitoring clients. The investment will give Devant additional resources to further expand the company's customer base and continue to drive innovation in the field of human-centric synthetic data.

As one of Sweden’s most reputable investment firms, Seven District combines a strong entrepreneurial drive with a wealth of experience, extensive expertise, and financial resources to accelerate the growth of tech startups in their initial phases.

In addition to announcing the investment, Devant also welcomes Niklas Ivarsson, partner at Seven District, as a board member. Previously, Niklas and Petra Hansson led Spotify's negotiations within the music industry, securing the licenses with labels, publishers and collecting societies. His extensive background in B2B roles within the automotive industry further enhances his expertise. This valuable experience is poised to play a key role in driving Devant's growth and expanding our customer network.

“Devant has in a very short timeframe developed a state-of the art technology, allowing for volumes of diversified high-quality synthetic data which drastically reduces development cycles and increases the quality of Machine Learning systems in life-critical environments such as in-cabin monitoring. By assembling a dedicated team of seasoned veterans, Devant and Richard have created a unique position, which Seven District is thrilled to be a part of. We look forward to joining Devant on its continued journey in this exciting space, says Niklas Ivarsson, Partner & Chairman of the board at Seven District and new board member at Devant.

"Seven District and Ludvig Strigeus emerged as the perfect investors for us. We firmly believe that their expertise will be a crucial catalyst in elevating Devant's capabilities in the years ahead. With our robust technology platform and an outstanding team, the timing is ideal for partnering with Seven District and Ludvig Strigeus as we pursue our mission to revolutionise camera-based Machine Learning development, enabling secure and reliable human-machine interaction," adds Richard Bremer, CEO at Devant.