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Welcome to Swedish Tech Weekly issue #30.
Here is the latest from Sweden's tech and startup industry.

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Mergers & acquisitions
  • Embark Studios, a Stockholm-based game development studio, has sold a 33 % stake to its existing investor, Japanese games company Nexon, for about SEK900M (€85M). This gives Nexon a controlling stake of 66.1% in the company (English, Swedish).
Financing rounds
  • NA-KD (Gothenburg, online fashion retailer): €20M (SEK210M) from existing and new investors, among them Partech, Eequity and Northzone (English, Swedish).
  • Epidemic Sound (Stockholm, music licensing provider for creators): $20M (€17.7M) in a financing round that includes equity funding from Korean investor DS Asset Management, and debt funding from SEB (English, Swedish). Also: An interview with CEO and co-founder Oscar Höglund about the round (English).
  • (Stockholm, video-based healthcare): SEK150M (€14.2M) bridge funding via a convertible loan (English, Swedish).
  • Mitigram (Stockholm, online platform for funding and hedging the risk of trade): SEK100M (€9.5M) from Sampo plc and others (English, Swedish).
  • Adaptive Simulations (Stockholm, maker of the wind simulations technology "Ingrid Cloud"): €2.4M (SEK25.3M) from Fairpoint Capital, Industrifonden and others (English).
  • LUB Foods (Stockholm, manufacturer of healthy "functional foods" branded as "NICK's"): €1.7M (SEK17.5M) from PeakBridge (English).
  • Storykit (Stockholm, content marketing platform): SEK17.5M (€1.7M) from angel investors (English, Swedish).
  • Sniph (Stockholm, perfume subscription service): SEK10M (€950K) from angel investors (Swedish, machine translation).
  • Pangara (Malmö, market place for remote software developers): SEK8M (€760K) from Tassaka Invest (English, Swedish).
  • 3TEMP (Arvika, service and equipment for the coffee industry, such as the "Hipster Brewer"): SEK7M (€660K) from angel investors (Swedish, machine translation).
  • Belly Balance (Stockholm, developer of digital solutions to treat irritable bowel syndrome): SEK3.5M (€330K) from Add Health Media and Thnx Innovation (Swedish, machine translation).
  • The Fit (Stockholm, mobile 3D body scanning solution): SEK2.85M (€270K) from angel investors and Saminvest (English, Swedish).
  • Eneo (Stockholm, solar cell company focusing on large companies and organizations): Undisclosed amount from D-Ax (English, Swedish).
  • Leeroy (Sundsvall, software solutions for the restaurant industry): Undisclosed amount form D-Ax (English, Swedish).
  • Swedish VC firm Creandum made its first investment in the Baltics, by providing $1.9M in seed funding to Estonian startup Klaus, a "conversation review tool" for support teams (English).
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News from Swedish startups and the tech scene
  • Steady Health, co-founded by Swedish entrepreneur Henrik Berggren in San Francisco, aims to offer modern diabetes care, initially targeting the US market (English).
  • BYON8, a startup founded in Linköping and based in Stockholm, is launching AITOPYA, a free mobile application that helps sick people easily access a health check-up in minutes using AI, initially targeting markets in Africa, with Uganda first (English).
  • Woilà, a Stockholm-based startup which promises people to pay them money if items they bought online have gotten cheaper after the purchase, has launched an app for iOS/Android (Swedish, machine translation).
  • The game studio Isbit Games, co-owned by Zlatan Ibrahimovic and maker of the game "Zlatan Legends", is shutting down due to lack of commercial success (Swedish / DI Digital Paywall).
  • The German e-scooter operator Circ has launched in Stockholm (Swedish, machine translation).
  • Spotify is shutting down a program that allowed indie artists to upload their own music to the streaming service. The company believes that music distribution is best handled by partners (English).
Other news and interesting things
  • The trendy Stockholm district of Södermalm is becoming even more of a cluster of game studios (Swedish, machine translation).
  • On July 1, a new strict smoking ban went into effect in Sweden (English).

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