Welcome to Swedish Tech Weekly issue #29.
Here is the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- ReachMee, a Stockholm-based provider of cloud-based recruitment solutions, has been acquired by Verdane Capital-owned Norwegian competitor group HR Manager and Webcruiter, according to Breakit for an estimated SEK200M (€18.9M) (English, Swedish).
- Blocket, Schibsted-owned Swedish classifieds heavyweight, has acquired online job board Jobbsafari from Danish Jobindex, for an undisclosed amount (Swedish, machine translation).
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- Babyshop (Stockholm, online retailer of kids clothing): SEK155M (€14.7M) from new and existing investors, including Verdane Capital and Camshaft (English, Swedish).
- Moank (Stockholm, consumer financing solutions): SEK100M (€9.5M) from Credit Opportunity One (English, Swedish).
- Glue (Stockholm, smart lock maker): SEK50M (€4.7M) from angel investors (English, Swedish).
- Re:newcell (Stockholm, recycling technology for textile): SEK50M (€4.7M) from new and existing investors, including KappAhl, H&M, Gripen Industri & Invest and Almi Invest (English, Swedish).
- Starflow (Stockholm, influencer platform): SEK7M (€660K) from angel investors (Swedish, machine translation).
- ALEQUI (Stockholm, producer of and retailer for equestrian equipment): SEK1.5M (€140K) from angel investors (English, Swedish).
News from Swedish startups and the tech scene
Other news and interesting things
- Stockholm hosts what is supposed to become "the world's largest hackathon for women", aiming at 1000+ participants, on Sept 7th and 8th 2019, as part of the Sthlm Tech Fest conference (English).
- Same topic: imagiLabs wants to encourage more girls to start coding. Its crowdfunding campaign ends today at 17:00/5 PM CET and is close to its goal, but needs just a few more backers.
- Gimi, a Stockholm-based startup offering an app for children to learn how to use and save money, is launching a child-friendly Mastercard (English, Swedish).
- Doconomy, a Swedish fintech, won the Creative eCommerce Grand Prix at Cannes, for its credit card that limits users’ carbon footprints (English).
- Transfer Galaxy, Örebro-based remittance startup, has announced the milestone of SEK1B (close to €100M) having been transfered by its users to loved ones abroad (English, Swedish).
- Mentimeter, a Stockholm-based maker of interactive presentation software founded in 2014, is profitable and says it has "40 million users in 160 countries" (Swedish, machine translation).
- VOI claims to formally have been the first e-scooter company on the German market after the country's authorities gave the green light for this mobility category (Swedish, machine translation). However, competition is already tough.
- Google Developers Launchpad will create its first Nordic incubator, together with Stockholm-based VC firm Wellstreet (Swedish, machine translation).
- The Nordic Web Venture's Neil S Murray on typical valuations & round sizes at pre-seed in the Nordics (English).
- Stockholm-founded VC firm Creandum has closed a fifth fund, totaling €265M (English, Swedish).
- The world’s biggest music artists have seen their market share of total streams — and therefore total money distributed by the likes of Spotify — decline significantly, while a new “middle tier” of artists is emerging (English).
- Swedish researcher and virtual reality (VR) expert Almira Thunström wrote about the growing number of uses cases for VR in psychiatry (English).
- According to the European Union's innovation scoreboard 2019, Sweden is the 2019 EU innovation leader (English).
- Italy beat Sweden to host 2026 Winter Olympics (English).
- There'll be a tax on plastic bags in Sweden starting next year. A single bag might end up costing consumers SEK7 (almost €0.70) (Swedish, machine translation). Relevant related read: Some alternatives aren't as great as they might seem (English).
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