Welcome to Swedish Tech Weekly issue #109.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Tink (Stockholm, open banking provider) acquired German open banking provider FinTecSystems. The price was not disclosed, but according to information obtained by finanz-szene.de, Tink paid around €120M ($150M) in cash (German, English).
- Instabox (Stockholm, last-mile delivery service) acquired Dutch same day delivery firm Red je Pakketje. Financials were not disclosed (English, Swedish).
- TechBuddy (Stockholm, tech support company) acquired TaskRunner, a Stockholm-based operator of a marketplace for a variety of jobs in people’s homes and offices. Financials were not disclosed (English, Swedish).
News from Swedish startups and the tech sector
- Doktor24 (Stockholm, digital healthcare provider): SEK400M (€40M, $48M) from existing investors as well as new investors Stena Sessan and Ernström och Co, for the European expansion (English, Swedish).
- Sweef (Stockholm, direct-to-consumer brand for furniture and interior design products): SEK30M (€3M, $3.6M) from eEquity (English, Swedish / Breakit paywall).
- Volta Greentech (Stockholm, seaweed-based feed supplement for cows to reduce methane emissions): SEK17M (€1.7M, $2M) from angel investors (English, Swedish / DI Digital paywall).
- Addressya (Stockholm, "address as a service" solution for developing countries): SEK12M (€1.2M, $1.4M) from undisclosed new investors as well as existing investors (Swedish, machine translation).
- Akribian, formerly Scientific EdTech (Lund, developer of gamified learning solutions): SEK12M (€1.2M, $1.4M) from undisclosed investors (Swedish, machine translation).
- Delibr (Stockholm, SaaS tool for writing feature specifications): SEK6M (€600K, $720K) from angel investors (English, Swedish).
- Moli (Stockholm, live-streaming app that enables mobile screen sharing): undisclosed amount from Truesight Ventures and angel investors (Swedish, machine translation).
- 6 out of the 10 startups that made it to the pitch final of the initiative Shift, secured funding from the angel investor jury: Chew Folk, minikit, Eyescanner, Vehicle Grid Charge, Bantaba (upcoming), Dyamo (upcoming) (Swedish, machine translation).
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- Stockholm-based Staccs has launched its concerts-on-demand streaming subscription service (English).
- Storytel and Spotify announced a partnership which allows Storytel subscribers in 25 markets to listen to audiobooks from within Spotify. Storytel is the first major publisher to adopt Spotify's new Open Access Platform (English).
- MOVS is a new e-bike and e-moped subscription service from the makers of Vässla, Swedish manufacturer of electrical mopeds. The service will launch in Stockholm on May 31 (Swedish, machine translation).
- Budbee is opening up its smart lockers for other delivery providers to compete with newly launched operator of an open delivery boxes infrastructure iBoxen (Swedish, machine translation).
- Stockholm-based digital home insurance provider Hedvig is expanding into Denmark (English, Swedish).
- A plastic-free bag developed by Helsingborg-based startup GAIA BioMaterials needs to be taxed as a plastic bag according to a new ruling (Swedish, machine translation).
- Urban Höglund is new CEO of Sweden's dominant p2p payment app Swish (English).
- Swedish e-commerce revenue grew by 53 percent in Q1 2021 compared to Q1 2020 – a growth rate never seen before (Swedish, machine translation).
- Norwegian “order and pay” platform for bars and restaurants Ordr has launched in Sweden (English).
- Sabina Wizander joins Creandum as the Swedish VC firm's first female partner, with base in Stockholm (English, Swedish).
- Apropos Creandum: The German neobroker Trade Republic just raised $900M at a valuation of $5.3B. Creandum owns 20 percent of the shares (Swedish / DI Digital paywall).
- There are currently 15 female VC partners based in Sweden, according to Sifted (English).
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Other interesting things
- Malmö-based maker of vegan food and drink products Oatly went public on the Nasdaq at av valuation of nearly $10B (English).
- A threat to H&M and others: Shein, the TikTok of e-ccommerce (English, great longread).
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