Welcome to Swedish Tech Weekly issue #45.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers and acquisitions
- Swedish fashion giant H&M has increased its stake in Stockholm-based second hand e-commerce startup Sellpy to approximately 70 %, thereby becoming the majority owner (English, Swedish).
- Following its recent acqusition of myElefant (see issue #43), Sinch, a Stockholm-based communications platform for mobile engagement, has announced that it bought Brazil’s third-largest SMS connectivity provider, TWW, for SEK439M (€40.5M, $45M) (English, Swedish).
- Fitnesscollection, a Stockholm-based startup that offered packaged memberships for gym studios, has been acquired by New York-based ClassPass, and is going to shut down. Terms were not disclosed (Swedish, machine translation).
- Following its recent bankruptcy, the assets of Linköping-based provider of OTT and cloud solutions for TV operators Zenterio have been acquired by British software firm Oregan Networks (English, Swedish).
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- Einride (Gothenburg, autonomous, all-electric transport provider): $25M in a Series A funding round led by EQT Ventures and NordicNinja VC, with support from Ericsson Ventures, Norrsken Foundation, Plum Alley Investments, and Plug and Play Ventures (English).
- Donna Technologies (Malmö, AI-powered assistance tool for legal documents): SEK25M (€2.3M, $2.5M) in a seed funding round led by Point Nine Capital and including several angel investors (English).
- Apohem (Stockholm, online drugstore): SEK19M (€1.8M, $1.9M) from existing investors (English, Swedish).
- X Shore (Stockholm, maker of all-electric boats): SEK16M (€1.5M, $1.6M) in an equity crowdfunding round (English).
- Alertix (Kalmar, developer of a solution to detect cancer in animals in early stages): SEK4M (€370K, $400K) from angel investors (English, Swedish).
- MindApps (Stockholm, meditation app): undisclosed amount from Schibsted (English, Swedish).
News from Swedish startups and the tech scene
Other interesting things
- Bookself, a Stockholm-based social reading app, is challenging Amazon-owned, famously neglected incumbent Goodreads (Swedish, machine translation).
- Uniti, the Lund-based electric car startup, has announced the price of its small crowdfunded electric car, the Uniti One, which starts at €17,767 ($19,600) and is expected to start deliveries in mid 2020 (English).
- A profile of Stockholm-based startup ZignSec, which offers solutions for companies to automate the process of identifying customers digitally in real-time (Swedish, machine translation).
- Google is starting to sell a USB-C Titan Security Key for two-factor authentication (2FA) in the US, and its being manufactured by Swedish security startup Yubico (English).
- Despite the reported financial struggles following its canceled IPO and rumors about massive layoffs, co-working giant WeWork still plans to open at 3 more locations in Stockholm, in addition to the one inaugurated a few months ago (Swedish, machine translation).
- Gold Town Games, a Skellefteå-based mobile game company, has scored Canadian former professional ice hockey player and former head coach Wayne Gretzky as new equity partner and global ambassador (English, Swedish).
- Yaytrade, a second hand marketplace for brand products from Stockholm, is challenging the now H&M-owned Sellpy by launching its own pick up service (Swedish, machine translation).
- Uber announced that it would buy a majority stake in Chilean online grocery provider Cornershop, which was founded by the Swede Oskar Hjertonsson (English, Swedish).
- Boneo, a real estate marketplace initiated by a group of Swedish real estate brokers, has launched to challenge the dominating market leader Hemnet (Swedish, machine translation).
- The Startup Heatmap Europe has published what it says is "the most comprehensive study on the development of startup ecosystems and founder mobility in Europe to date" (English).
- Only a quarter of people in Sweden think their time on social media is meaningful, according to the new report "T
- Libra is "catalytic event" for Central Banks, says Head of Sweden's Riksbank, Stefan Ingves (English).
- Jantelagen: Why Swedes won’t talk about wealth (English).
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