Sweden Ballistics raises €30M to strengthen Europe’s ammunition supply chain

Vicky Maggiani

PUBLISHED

May 13, 2026

Sweden Ballistics (SWEBAL), the Swedish defence manufacturing company driving domestic TNT production to strengthen NATO resilience, has announced a €30 million funding round to complete construction of its TNT manufacturing facility in Nora, Sweden. The €30m strategic investment is made up of several investors. Firstly, Sweden’s ex-Chief of Army, Major General (ret) Karl Engelbrektson. In 2023, Karl took on the position of Head of Advisory Board at Finserve Global Security Fund (GSF). Karl’s personal investment in SWEBAL is independent from the GSF fund. Pär Svärdson, founder of Apotea, Sweden’s largest online pharmacy, and Adlibris, Sweden’s largest online bookshop, is also…

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