Welcome to Swedish Tech Weekly issue #120.
Bringing you the latest from Sweden's tech and startup industry.
If this email has been forwarded to you, you can sign up for free at swedishtechweekly.com.
Mergers & acquisitions
- Veoneer (Stockholm, global automotive technology company) is now subject to a bidding way, after chipmaker Qualcomm submitted a bid for the company for $800 million more than what Magna International proposed to pay (English).
- Embracer (Karlstad, game company) announced 8 new acquisitions at a total price of at least SEK2.7B, and up to SEK4.7B (€460M, $550M) (English, Swedish).
- Checkin.com (Stockholm, provider of registration flow solutions for online services) acquired Estonian identity verification service GetID for €8.1M ($9.5M) in a mix of stock and cash (English, Swedish).
- Tobii (Stockholm, maker of eye tracking technology) acquires Belgium-based Phasya, a company that provides software for monitoring physiological and cognitive states that influence human behaviour, for a maximum of around €4M, to enter the automotive driver monitoring market (English).
- Amuse (Stockholm, digital music distribution startup) has sold a majority stake to private equity firm Bridford Group. Financials were not disclosed (Swedish / DI Digital paywall, no machine translation available).
News from Swedish startups and the tech sector
- VOI (Stockholm, e-scooter and micromobility provider): $45M in a Series C extension round led by The Raine Group (English, Swedish).
- Kavall (Stockholm, hyper-local grocery delivery within 10 minutes): SEK50M (€5M, $5.8M) in a funding round led by VNV Global, with participation from Inbox Capital and angel investors (English, Swedish).
- Leeroy (Sundsvall, software solutions for the restaurant industry): SEK40M (€4M, $4.6M) from existing investors (Swedish / Breakit paywall, Swedish #2, machine translation).
- BYON8 (Stockholm, digital healthcare app targeting Kenya and other African markets): $1.5M from People Ventures, T&W Holding and existing investors (Swedish, machine translation).
- Petli (Stockholm, dog training app): unspecified amount from angel investors (Swedish, machine translation).
- Swedish VC firm Gullspång Re:food participated in a $21M "pre-B" funding round raised by Swiss alternative protein company Planted (English).
This issue of Swedish Tech Weekly has been sent to 888 subscribers. That's 3 more than last issue.
- Wired lists the 10 "hottest startups in Stockholm" (English).
- The planned pan-Nordic payments platform P27 Nordic Payments received the green light from the European Commission (English).
- In an attempt to reduce chaos caused by disorderly parked e-scooters, VOI and TIER are jointly running a pilot with 100 parking racks set up across Stockholm (English, Swedish).
- Bolt, the Estonian provider of ride-hailing, e-scooter and food delivery services that just raised another €600M, will launch a rapid grocery delivery service in Sweden and additional European markets (English).
- 📺 What Klarna CEO Sebastian Siemiatkowski thinks about the recently announced $29B acquisition of Klarna rival Afterpay by US fintech Square (English).
- The record labels are weaning themselves off their Spotify dependency (English).
If you enjoy this newsletter, please tell a friend, colleague or business partner about it! Forward this email, recommend swedishtechweekly.com on Slack/your team app of choice, or like/retweet this tweet. Or this tweet. Thank you!
Other interesting things
- VCs are financing an economy of servants (English).
- Sweden to widen police data-access powers to fight gang violence (English).
For any feedback or comments, just hit reply.