The new men's team is called "Lucky Sport Cycling Team".
Oskar Ekman is behind the venture and has shifted from the financial sector to driving the project full-time.
I've sought capital to make a real Swedish professional effort. Everything has gone very fast. It was clear five weeks ago. I've been sleepless for two weeks ahead of this day, says Ekman, who is team manager, at a press conference.
We have a good foundation with cyclists. It's the right time to lift the sport a notch. We're doing that thanks to this new team, which we'll take out to Europe.
"The journey begins today"
The goal of the venture is to reach the biggest competitions in the world.
We believe we have what we need to achieve success. We want to ride the biggest competitions that exist. The journey begins here today, says Ekman.
One of the cyclists on the team is Amir Ansari, who last summer competed for the refugee team at the Olympic Games in Paris.
I think Swedish cycling needs teams like this, especially for young people. So that there's a popular team for them to look at and dream about, says Ansari, who grew up in Afghanistan and came to Sweden in 2015.
Tough with the life puzzle
Ansari also explains that there are challenges with the venture. It's tough to get the life puzzle together.
I'm studying 100 percent at Uppsala University. My challenge will be to make a full commitment while studying full-time. But I did the same thing when I competed for the Olympic Games in Paris, so I hope it'll work.
It'll be tough, at this level you have to put in at least 20 hours a week on the bike. My challenge will be to find those 20 hours.
He's also clear that he's grateful for the venture. Now he'll do everything to help the team achieve success.
I think I've already achieved my personal goals in cycling. To be part of the Olympic Games and now to be part of a professional team. But in the future, I hope to be able to do this as a full-time or part-time pro. But right now, I'm just trying to get better and help the team win some big competition, says Ansari.
Cyclists: Amir Ansari, Axel Källberg, Carl Kagevi, Edvin Lovidius, Gustav Thompson, Hjalmar Klyver, Johan Borgström, Max Nielsen, Viktor Lychou, Willhelm Wallinder, Wincent Wallinder.
