View this email in your browser

Welcome to Swedish Tech Weekly issue #113.
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
Mergers & acquisitions
  • Spotify (Stockholm, music and podcast streaming platform) acquired the US-based startup Podz, maker of a podcast discovery platform. Financials were not disclosed (English).
  • Grafana Labs (Stockholm & New York, developer of open source software for visualizing time series data) acquired K6, a Stockholm-headquartered startup that’s building an open source load testing tool for engineering teams. Financials were not disclosed (English).
Financing rounds
  • Kognity (Stockholm, developer of "intelligent" textbooks for the education sector): SEK165M (€16.5M, $20M) from Alfvén & Didrikson, for the US expansion (English, Swedish).
  • Vässla (Stockholm, e-moped maker and micro-mobility startup): 9M ($11M) in a funding round led by Skabholmen Invest, with participation from angel investors (English, Swedish).
  • Graphmatech (Uppsala, materials technology company that solves industrial challenges using graphene): SEK84.5M (€8.4M, $10M) from Molindo Energy, Forward Ventures and SEB Venture Debt as well as existing investors (English, Swedish).
  • MTEK (Alfta, developer of software solutions for the manufacturing industry): SEK60M (€6M, $7M) from Altra Industrial Motion and existing investor ABB (English, Swedish / DI Digital paywall).
  • Codemill (Umeå, SaaS-centric digital product and service studio): SEK47.5M (€4.7M, $5.6M) through an IPO (Swedish, machine translation).
  • Adway (Gothenburg, data-driven talent acquisition partner): SEK32M (€3.2M, $3.8M) from Spintop Ventures and Brightly Ventures (English, Swedish).
  • SP_CE (Stockholm, SaaS provider of virtual B2B sales rooms): SEK30M (€3M, $3.5M) from angel investors (English, Swedish).
  • BonBot (Stockholm, developer of technology for icecream robots and automated restaurants): SEK20M (€2M, $2.3M) in a funding round led by Stride VC, with participation from Sweet Capital and byFounders (English, Swedish).
  • MoveByBike (Malmö, smart city logistics with distribution via e-cargo bikes): SEK16.5M (€1.6M, $2M) through an IPO (Swedish, machine translation).
  • Handiscover (Malmö, accessibility and disability data platform): €1.5M ($1.8M) from the European Innovation Council (EIC) Fund (English, Swedish).
  • Stardots (Uppsala, digital health platform for Parkinson´s disease): SEK10M (€1M, $1.2M) in a funding round led by VNV Global (Swedish, machine translation).
  • AktivBo (Stockholm, data-driven analytics for the real estate industry): SEK10M (€1M, $1.2M) from existing investor Spiltan (English, Swedish).
  • Freedrum Studio (Malmö, maker of a virtual drum kit): SEK9M (€900K, $1.1M) from Launch Accelerator and Almi Invest (English, Swedish).
  • Accurator (Stockholm, procurement platform for the construction industry): SEK8M (€800K, $940K) from (English).
  • Nudge Labs (Stockholm, employee well-being platform): SEK6M (€600K, $700K) from angel investors (Swedish, machine translation).
  • Gigital (Stockholm, digital marketplace for booking of artists and djs): SEK5M (€500K, $600K) from Almi Invest, angel investors and existing investors (English, Swedish).
  • ihopa (Stockholm, platform for sharing products): SEK4M (€400K, $500K) from angel investors (English, Swedish).
  • The Ode To (Stockholm, online shop for art): SEK3M (€300K, €350K) from angel investors, for the expansion into the US (Swedish, machine translation).
  • Birds Relations (Gothenburg, digital service for couples therapy): SEK3M (€300K, €350K) from Twig Ventures and angel investors (English, Swedish).
  • Swedish VC firm EQT Ventures led a $23.5M Series A funding round raised by UK-based open payments gateway Volt (English).
News from Swedish startups and the tech sector
  • The Swedish tech sector is now Europe's highest valued at $151B, according to GP Bullhound's annual Titans of Tech report. UK comes second at $149B (English, Swedish).
  • Spotify launched its Clubhouse rival Spotify Greenroom (English).
  • Meanwhile, production has commenced on Netflix’s untitled scripted series about the early days and rise of Spotify (English).
  • The Malmö-founded, Silicon-Valley based graph database firm Neo4j has raised $325M in fresh funding (English, Swedish).
  • The 2 Swedish startups Ceretai and EnginZyme have been named Technology Pioneers 2021 by the World Economic Forum, among 100 companies globally (English, Swedish).
  • Klarna launched a shopping comparison service (English).
  • 23 new AI startups were added to the latest version of the Swedish AI Startup Landscape, an initiative led by AI Sweden and Ignite Sweden (English).
  • A few Swedish startups and organizations have formed the initiative API 1ST, which wants to encourage a more widespread use of public APIs and data sharing – by renaming April Fool's Day to API 1ST day (Swedish).
  • Norway-based SNÖ Ventures launches Peter Thiel-backed $100M fund, expands organization into Sweden and Denmark (English).
This issue of Swedish Tech Weekly has been sent to 854 subscribers. That's 11 more than last issue.
If you enjoy this newsletter, please tell a friend, colleague or business partner about it! Forward this email, recommend on Slack/your team app of choice, or like/retweet this tweet. Or this tweet. Thank you!

Other interesting things
  • European fintech is having a record 2021 - and it's only June (English).
  • Volvo Cars wants to make a concept car using “fossil-free” steel (English).
  • Ikea and Sonos launch speaker that doubles as a picture frame with swappable art (English).
  • The Northern Swedish city of Umeå has Europe's cleanest air, according the European Environment Agency's (EEA) newly launched European city air quality viewer (English, Swedish).

For any feedback or comments, just hit reply.
Take care and glad midsommar!

Copyright © 2021 Swedish tech weekly, All rights reserved.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

Email Marketing Powered by Mailchimp