Welcome to Swedish Tech Weekly issue #28.
Here is the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Trustly, Stockholm-based company which dubs itself "Europe’s leading online banking payments provider," merges with Silicon Valley-based PayWithMyBank to create a transatlantic payment network (English, Swedish).
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- Readly (Växjö, subscription service for digital magazines): SEK157M (€14.7M) led by the Third Swedish National Pension Fund, with participation from Zouk Capital, Swedbank Robur and others. (English, Swedish).
- Modcam (Malmö, computer vision technology): €4.3M from IBM, Samsung and existing investors (English).
- Saga Diagnostics (Lund, personalized cancer medicine and disease monitoring): SEK40M (€3.8M) from Hadean Ventures and others (English).
- Mindler (Stockholm, app-based video sessions with psychologists): SEK29.5M (€2.8M) from Back in Black and Kichi Invest (Swedish, machine translation).
- Bruce (Stockholm, subscription service for fitness studios): SEK20M (€1.9M) from D-Ax (Swedish, machine translation).
- Bitrefill (Stockholm, lets people buy gift cards and refill phones with cryptocurrencies): $2M from Coin Ninja and others (English).
- Society icon (Stockholm, microinfluencer platform): SEK6M (€560K) from undisclosed investors (Swedish, machine translation).
- Liquid Wind (Gothenburg, developer of a solution to convert CO2 and wind energy to liquid fuel): SEK2.2M (€200K) through a crowdfunding campaign (English).
- Investments by Swedish VC firms: Northzone led a $8M Series A funding round raised by New York City-based decentralized video infrastructure platform Livepeer (English), Creandum has reportedly invested in Berlin-based "virtual restaurant" operator Honest Food (German, machine translation) as well as in Berlin-based mobility startup Ree Technology (German, machine translation), EQT Ventures participates (as existing investor) in a $130M funding round raised by Helsinki-based food delivery startup Wolt (English) and invests again in San Francisco-based crypto startup Token (English).
News from Swedish startups and the tech scene
Other news and interesting things
- Bookbeat, a Swedish audiobook service, has launched in additional 24 European markets (Swedish). And competitor Storytel has launched in Germany, the company's 17th market (English, Swedish).
- Background on Northvolt's giant funding round (Swedish Tech Weekly #27) and ambitions (English).
- Swedish startups in the business of offering video-based healthcare services such as Min Doktor and Kry will likely face a reduction of the lump sum they are being paid per patient from the country's healthcare system. Unsurprisingly, they are not happy (Swedish, machine translation).
- As part of a broadened South Korea-Sweden partnership, next year a "Korean Startup Center" will open in Stockholm (English).
- The digital mailbox service Kivra has launched a service for companies to get contracts or other documents legally signed (Swedish, machine translation).
- Anti-spam and caller ID service Truecaller adds free VoIP voice calls to its app (English).
- Spotify is a founding member of the "Libra Association", the governing body behind Facebook's digital currency endeavor (English).
- Yubico, provider of solutions for secure logins, plans to replace certain hardware security keys because of a firmware flaw (English).
- VC firm Creandum has published its board deck template for startups in the process of preparing their first board meetings (English). In other Creandum news, the firm is participating in the new Europe-wide VC internship scheme Included VC, which aims to increase diversity among venture capitalists (English).
- In this year's "Government AI Readiness Index 2019", Sweden ranks on position 6 globally. The Top 5: Singapore, UK, Germany, USA and Finland (English).
- Systembolaget, the Swedish alcohol monopoly, will soon offer home delivery to everyone in Sweden over the age of 20. Expected delivery time: 4 to 6 working days (English).
- Podcast talk with Hanna Armelius of the Swedish Central Bank about the plan to introduce a central bank digital currency ("e-krona") (Swedish).
- Sweden's electric car boom is under threat from lack of power capacity for new charging stations in major cities (English).
- This weekend is Midsummer, which marks the beginning of the Swedish summer holiday season. Many employees take 3 or 4 weeks off, and particularly in July, business partly comes to a standstill. So the news volume might decrease. I plan to keep publishing this newsletter on the weekly schedule throughout the summer. However, if there should be too little to report, I might skip an issue. Glad Midsommar!
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