Welcome to Swedish Tech Weekly issue #115.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- MTG (Stockholm, digital entertainment holding company) acquired Indian game studio startup PlaySimple for at least $360M (English, Swedish).
- Pointsharp (Stockholm, provider of secure login solutions) acquired Stockholm-based SecMaker, provider of certificate-based security solutions. The price was not disclosed (English, Swedish / DI Digital paywall).
News from Swedish startups and the tech sector
- Hiber (Gothenburg, browser based game creation and social gaming platform): SEK121M (€12M, $14M) in a funding round led by EQT Ventures, with participation from CMT Digital and existing investors (English, Swedish).
- Saga Diagnostics (Lund, personalized cancer medicine and disease monitoring): SEK106M (€10.5M, $12M) in a Series A2 financing round led by Segulah Medical Acceleration and the Sciety investment syndicate, with participation from existing investors (English).
- Fast Travel Games (Stockholm, VR games development studio): SEK34M (€3.4M, $4M) in a funding round led by Brightly Ventures, with participation from existing investors (English, Swedish / Breakit paywall).
- Mindmore (Stockholm, platform for self-administered digital cognitive tests): SEK11.5M (€1.1M, $1.3M) from Svanberg & Co Invest, Soläng Invest, Almi Invest and Laurent Leksel, for the expansion into Germany (English, Swedish).
- House Be (Åre, operator of co-working spaces in northern Sweden): SEK6.5M (€650K, $750K) from undisclosed new investors as well as existing shareholders (English, Swedish).
- Zeptagram (Gothenburg, blockchain-based trading platform for music rights): SEK6M (€600K, $700K) from various investors (English).
- Eyescanner (Gothenburg, AI-based software for drug testing): SEK5M (€500K, $600K) from Optimizer Invest and others (English, Swedish).
- Organista (Stockholm, direct-to-consumer brand for products to organize suitcases): SEK5M (€500K, $600K) from angel investors (English, Swedish).
- Modvion (Gothenburg, developer of modular wind turbine towers in laminated wood): undisclosed amount from existing investor Vestas (English / PDF).
- Swedish VC firm Spintop Ventures co-led a NOK55M (€5.4M, $6.4M) funding round raised by Norwegian audio technology startup Nomono (English).
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- Last year, 11 percent of the capital invested in 1000 Sweden-based tech startups went to mixed-gender founder teams, an increase of about 5 percent compared to 2019. 1 percent went to women-founded companies, the same as in 2019. 5.2 percent of the 1000 startups included in the analysis were founded by women (Swedish / DI Digital paywall, Swedish #2, machine translation).
- Stockholm-based Zettle, formerly iZettle and owned by PayPal, is launching its point-of-sale system in the US, to compete with Square and others (English, Swedish).
- Rustam Nabiev, co-founder of Sweden-based non-profit Shifo, received the very first KTH Innovation Award. Shifo developed a Smart Paper Technology intended to replace existing health management information system forms in developing countries (English).
- Lin Kowalska launched Popswap, an app-based community for "swapping" clothes through a Tinder-style swiping mechanism (English).
- Potato Plastic, a startup from Gothenburg that won DI Digital's Female Founders startup pitch competition last year, will shut down, as the team didn't find a working business model around their idea of turning potato waste into biodegradable plastic (Swedish, machine translation).
- Malmö's angel investor network Fast Track Capital has secured SEK50M in fresh funds to invest in early-stage startups from southern Sweden (Swedish, machine translation).
- Creandum's GP Johan Brenner wrote about the traits of unicorn founders, and about how to spot them at an early stage (English).
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Other interesting things
- Swedish supermarket chain Coop closes 800 stores following Kaseya ransomware attack (English).
- The bank-owned Nordic mobile payment providers Vipps in Norway, MobilePay in Denmark and Pivo in Finland are to merge and will create a single digital wallet (English).
- European tech ecosystem grows faster than US or Asia amid VC boom (English).
- EU startup fund overwhelmed by high demand (English).
- Sweden stunned by rare shooting of police officer as gang violence worries grow (English).
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