Welcome to Swedish Tech Weekly issue #123.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- P.F.C. (Stockholm, mobile-based consumer bank) was acquired by existing investor Svea Ekonomi. Terms were not disclosed (English, Swedish).
- Abios (Stockholm, eSports data provider) was acquired by Malta-headquartered B2B provider of sports betting services Kambi, for an initial SEK150M (€15M, $17M) paid in cash, with up to SEK120M to be paid in earnouts (English, Swedish).
- Returnado and Unifaun, Stockholm-based logistics and e-commerce returns companies, merged together with 2 other companies to form the new London-headquartered logistics provider nShift. Financial termes were not disclosed (English).
News from Swedish startups and the tech sector
- Bokio (Gothenburg, digital accounting services for small businesses): SEK35M (€3.5M, $4M) from existing investors Svea Ekonomi, Creandum and Inbox Capital (English, Swedish).
- Radio Innovation (Stockholm, mobile connectivity technology): SEK30M (€3M, $3.4M) from undisclosed investors (English, Swedish).
- Briqpay (Stockholm, software for enhancing B2B e-commerce payments): SEK20M (€2M, $2.3M) in a seed round co-led by partners from eEquity and Mantle Advise (English, Swedish).
- Gimi (Stockholm, savings and spending app for children): SEK18M (€1.8M, $2.1M) from among others, existing investor NFT Ventures (Swedish, machine translation).
- Realsprint (Umeå, provider of an ultra-low-latency CDN for live streaming): SEK14M (€1.4M, $1.6M) from Partnerinvest Norr and TheGamingInvestor.com (English, Swedish).
- Combify (Stockholm, SaaS solution for visualisation and digitalisation of construction projects' data): SEK10M (€1M, $1.1M) from among others Backing Minds and Bonnier Ventures (English, Swedish).
- Collactivate (Åra, platform for property owners to increase safety in socioeconomically disadvantaged areas): SEK4M (€400K, $460K) from Almi Invest, Tillväxtkassan and angel investors (Swedish, machine translation).
- tendmill (Stockholm, solution to streamline public procurement in the food service industry): SEK3M (€300K, $340K) from angel investors (via mail).
- Tini Garments (Stockholm, online fashion brand for on-demand clothes): SEK2M (€200K, $230K) from Almi Invest and angel investors (Swedish, machine translation).
- EasyArr (Visby, SaaS tool for event organizers): SEK2M (€200K, $230K) from Almi Invest and angel investors (English, Swedish).
- EdAider (Stockholm, classroom platform for adaptive data-driven education): undisclosed amount in a strategic investment from AcadeMedia EdTech (English).
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- Sesamy, the Acast founders' new e-book and audiobook startup, is working on a new type of paywall for online newspaper content (Swedish, machine translation).
- Stockholm-based startup Candela revealed an electric boat designed for mass production, calling it the ‘iPhone moment for boats’ (English).
- Mynt, Swedish SME financing solutions startup, has been authorised as an E-money Institution by the Swedish Financial Supervisory Authority and is thereby able to issue its corporate credit card in markets across the European Union (English).
- Tmpl, Uppsala-based digital platform aimed at commercial and residential properties, expands into Brazil through a joint venture with Webrock Ventures (English).
- Borlänge-based Booksquare gears up for launching a subscription service for digital course and text books (Swedish, machine translation).
- The fact that digital healthcare provider Doktor.se recently raised funding from Chinese giant Tencent is leading to some concerns (Swedish, machine translation).
- A list of Swedish startups that are expanding into the US and Germany through Startup Sweden's new accelerators (Swedish, machine translation).
- McKinsey studied Europe’s top 1,000 startups, among them 64 from Sweden, to learn how they succeed in the region’s fragmented landscape (English, Swedish).
- A comprehensive guide to stock options in Swedish startups (English).
Other interesting things
- Advice for those taking the bet of joining a startup as its first marketer (English).
- Why rent control isn’t working in Sweden (English).
- Mercedes-Benz, led by Swedish CEO Ola Källenius, recruited another Swede for a crucial position: Magnus Östberg is the new "chief software officer" (English, Swedish).
- Skellefteå airport works towards a European-first demonstration of battery electric-powered commuter aviation (English).
I'm very happy to welcome Qap Legal, a Stockholm-based boutique law firm with focus on startups and scaleups, as sponsor of Swedish Tech Weekly. A massive thanks to them for supporting the newsletter!
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