Welcome to Swedish Tech Weekly issue #113.
Bringing you the latest from Sweden's tech and startup industry.
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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).
News from Swedish startups and the tech sector
- 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 Icebreaker.vc (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).
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- 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).
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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).
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Take care and glad midsommar!