Welcome to Swedish Tech Weekly issue #56.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Klarna has acquired certain assets of recently closed Chicago-based startup Spring Rewards. Exact terms are not known (Swedish #1 / DI Digital paywall, Swedish #2 / machine translation).
- Tipser, a Stockholm-based startup whose software solution transforms any content platform into an e-store, has acquired affiliate shopping startup Reve, also from Stockholm, for around SEK30M (€2.8M, $3.2M) (English, Swedish / DI Digital paywall).
- Swedish technology group Hexagon has acquired the Swiss startup Geopraevent, which develops, installs and operates alarm and monitoring systems for natural hazards. The amount was not disclosed (English).
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- KRY (Stockholm, video-based healthcare): $155M in a Series C funding round led by Ontario Teachers’ Pension Plan and involving existing investors Index Ventures, Creandum and Accel (English, Swedish).
- Frisq (Stockholm, provider of e-health solutions): SEK64.6M (€6.1M, $6.8M) through a guaranteed rights issue (Swedish, machine translation).
- Tipser (Stockholm, software solution to transform any content platform into an e-store): SEK45M (€4.3M, $4.7M) via a convertible note (English, Swedish / DI Digital paywall).
- Plexian (Malmö, creator of customer loyalty technology): SEK26.5M (€2.5M, $2.8M) from various investors in preparation for a public listing (English, Swedish).
- Caliroots (Stockholm, online streetwear store): SEK18M (€1.7M, $1.9M) from existing investors (Swedish, machine translation).
- BTCX (Stockholm, crypto exchange): SEK15M (€1.4M, $1.6M) from undisclosed investors in preparation for a planned IPO (English, Swedish).
- Match2One (Stockholm, programmatic advertising platform): SEK13.5M (€1.3M, $1.4M) from Friends Capital and Markus Kullendorff (English, Swedish).
- Imagimob (Stockholm, developer of AI software for Edge devices): €1M ($1.1M) from private investors ahead of a planned Series A round (English).
- Samtrygg (Stockholm, platform to facilitate safe subletting): SEK6M (€570K, $630K) from angel investors (English, Swedish).
- Skyqraft (Stockholm, drone-based data collection for infrastructure inspection): $505K from Antler and angel investors (English).
- JUNIPER (Stockholm, online store for luxury bed lines): SEK1.7M (€160K, $180K) from angel investors (Swedish, machine translation).
News from Swedish startups and the tech sector
Other interesting things
- Karma, the anti-food waste startup, announced a plan to boost growth by installing a series of 100 smart fridges across Sweden, the UK and France. The Stockholm-based company also reveals it has 1M users that so far have saved 2M meals from landfill (English).
- Spotify is enchroaching in Acast's turf with a new, proprietary podcast ad technology, which initially will be made available to its original and exclusive shows (English).
- Bookbeat, a Swedish audiobook service, announced having hit the milestone of 250,000 paying users and doubling its revenue last year (Swedish, machine translation).
- Rocker is the new name of the Stockholm-based fintech Bynk. The brand Bynk will remain for specific products (Swedish, machine translation).
- Bofink is shutting down its mortgage advisor bot. The startup from Stockholm plans to pivot to become a digital mortgage provider (Swedish, machine translation).
- Cristina Stenbeck, former chairperson of investment firm Kinnevik, and Susanna Campbell, former CEO and investment Director at Ratos, have started the joint investment firm Camsten (Swedish #1 / DI Digital paywall, Swedish #2, machine translation).
- Podcast interview with Camilla Lundin (CEO, co-founder) and Vendela Lilliestråle (co-founder) of Stockholm-based tech-focused investment bank Qalora Capital (Swedish, 44 minutes).
- Also: In a just published TEDx talk, Camilla Lundin outlines why the widespread idea to raise and having to be "good girls" decreases the willingness to take risks, which she sees as a major cause for the lack of women startup entrepreneurs (English, 11 minutes).
- 10 startups that elevate Gothenburg's tech scene in 2020 (English).
- The Swedish Tax Agency is accused of proceeding with unreasonable taxation when it comes to profits from cryptocurrencies such as Bitcoin, to force a legal process in which those affected have to appeal. The Agency denies this (English, Swedish).
- The Royal Institute of Technology Stockholm (KTH) and the Swedish Armed Forces (SwAF) have inaugurated the KTH Center for Cyber Defence and Information Security (Swedish, machine translation).
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