Welcome to Swedish Tech Weekly issue #116.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Klarna (Stockholm, payments and shopping provider) acquired UK-based virtual shopping platform Hero, for reportedly $160M (English, Swedish).
- Strossle (Stockholm, startup helping publishers optimize content distribution) was acquired by Dutch digital gaming and monetisation technology company Azerion, for reportedly SEK100M (€10M, $12M) (English, Swedish).
- CDON (Stockholm, e-commerce company) acquired 30 percent of Växjö-based Shopit Online Europe, a startup specializing in big product data & shopping search engine services, for SEK26.6M (€2.6M, $3M), with the option to acquire the remaining 70 percent within 18 months (English, Swedish).
News from Swedish startups and the tech sector
- Juni (Gothenburg, banking platform for e-commerce and online marketing companies): $21.5M in a Series A round co-led by DST Global and Felix Capital (English, Swedish).
- Willa (Stockholm and Los Angeles, fintech solution for freelancers to get paid on time): $18M from FinTech Collective, Entrée Capital and existing investor EQT Ventures (English, Swedish).
- Insurello (Stockholm, digital solution to maximize insurance claims): SEK150M (€15M, $17.5M) from Nordstjernan and existing investors (English, Swedish).
- Coloreel (Jönköping, technology that enables high-quality coloring of textile thread on demand): SEK70M (€7M, $8.2M) from undisclosed new investors as well as existing investors (English, Swedish).
- Vården.se (Stockholm, search engine for healthcare providers): SEK50M (€5M, $6M) in a Series A funding round led by Bonnier Ventures, with participation from existing investors (English, Swedish).
- Opti (Stockholm, mobile robo-advisor): SEK44M (€4.4M, $5M) from existing investors and new angel investors (English, Swedish).
- BeammWave (Lund, developer of an antenna technology for 5G): SEK34.5M (€3.4M, $4M) from angel investors (Swedish, machine translation).
- aim’n (Halmstad, online store for women's sportswear): SEK30M (€3M, $3.5M) from existing investor Eequity, which also bought shares for SEK120M (€12M, $14M) from the founders Tekla Acs and Helen Van (English).
- Bumbee Labs (Stockholm, intelligent footfall analytics): SEK21M (€2.1M, $2.5M) from undisclosed investors (English, Swedish).
- StockRepublic (Stockholm, social trading platform for banks): €2M (€2.4M) from main incubator and angel investors (English, Swedish).
- United Robots (Malmö, automated Content service provider): SEK15M (€1.5M, $1.7M) from Spiltan (English, Swedish).
- Vembla (Stockholm, instant grocery home delivery): SEK13M (€1.3M, $1.5M) from Cats.vc, Spring Capital and angel investors (English, Swedish).
- Brain Stimulation (Umeå, digital tools for stroke rehabilitation): SEK8M (€800K, $930K) from Backing Minds (English, Swedish).
- Akind (Stockholm, direct-to-consumer brand for jewelry): SEK5M (€500K, $600K) from angel investors (English, Swedish).
- Hemavi (Lund, matchmaking platform for room rental): SEK4M (€400K, $460K) from angel investors (Swedish, machine translation).
- Imsure (Stockholm, supplemental mini-insurance as add-on to digital processes): SEK3M (€300K, $350K) from Soläng Invest, Saminvest and angel investors (English).
- Swedish VC firm EQT Ventures participated in a $7.9M seed round raised by Estonian forest tokenisation and CO2 footprint compensation platform Single.Earth (English).
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- X Shore, Stockholm-based maker of all-electric boats, announced that the site of its second factory will be located in the city of Nyköping, near Stockholm (English).
- CAKE, Stockholm-based high performance electric motorcycle startup, plans to move its manufacturing from Taiwan to Stockholm, which will create up to 300 jobs (Swedish / DI Digital paywall, Swedish #2, machine translation).
- VOI is launching the world’s first large-scale pilot of computer vision on e-scooters in a UK city, to detect when an e-scooter rides on a pavement, as well as improper parking (English).
- Dynamic Code, Linköping-based creator of health and diagnostic tests for end consumers, is about to launch in the UK, the company's first market outside of Sweden (Swedish, machine translation).
- Airmee, Stockholm-based last-mile delivery startup, also expands beyond Sweden, with Denmark being its first international market (Swedish, machine translation).
- Sweden's (and Europe's) largest funding rounds in the first half of 2021 (English).
- Klarna CEO Sebastian Siemiatkowski "puts all other founder photos to shame", according to Sifted (English).
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Other interesting things
- Stefan Löfven narrowly wins vote to return as Swedish PM (English).
- IKEA plans to open a major store in central Stockholm next year, the first "real" IKEA downtown store in Sweden (Swedish, machine translation).
- Finnair will launch direct transatlantic flights from Stockholm to the US and Thailand (English).
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