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Welcome to Swedish Tech Weekly issue #110.
Bringing you the latest from Sweden's tech and startup industry.

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Mergers & acquisitions
  • Smart Eye (Gothenburg, developer of in-car AI-based eye tracking technology) acquired US-based emotion-detection software startup Affectiva for $73.5M in a cash-and-stock deal (English).
     
  • Whalebone (Stockholm, maker of tools to amplify and humanize virtual events) has been acquired by US- and Israel-based event success platform Bizzabo. The amount of the deal was not disclosed (English).
     
  • Codemill (Umeå, SaaS-centric digital product and service studio) accquired Stockholm-based media asset management solution developer Cantemo. Financial terms were not disclosed (English, Swedish / DI Digital paywall).
Financing rounds
  • Sinch (Stockholm, communications platform for mobile engagement): SEK9.4B (€930M, $1.1B) in a directed share issue from, among others, Temasek and SoftBank (English, Swedish).
     
  • H2 Green Steel (Stockholm, developer of a fossil-free steel plant to be built in northern Sweden): SEK1B (€100M, $120M) from FAM, Exor and others (English, Swedish / DI Digital paywall, Swedish #2).
     
  • Yabie, formerly Kaching (Stockholm, flexible and mobile POS & Payment platform): SEK200M (€20M, $24M) in a pre-IPO round from existing investors (English, Swedish / DI Digital paywall, Swedish #2).
     
  • Dirac (Uppsala, developer of software to enhance audio performance): SEK150M (€15M, $18M) from TIN Fonder and DIG Investment (English, Swedish / DI Digital paywall).
     
  • Ondosis (Gothenburg, developer of technology for individualized dosing of oral medicines formulated as microparticles): SEK92M (€9M, $11M) in a financing round led by Aeternum Capital, with participation from DIG Investment and Albonja (English, Swedish).
     
  • Exeri (Luleå, developer of smart grid surveillance technology): SEK50M (€5M, $6M) from Industrifonden, Brightly Ventures and Treac (English, Swedish).
     
  • Meme.com (Helsingborg, upcoming tokenized meme platform): $5M from Outlier Ventures, Digital Finance Group (DFG), Morningstar, Blockhype, Spark Digital Capital and angel investors (English).
     
  • Flowfactory (Stockholm, low code platform for business applications): SEK11M (€1.1M, $1.3M) from undisclosed investors (English, Swedish).
     
  • GoFrendly (Stockholm, social network for women to make new friends): SEK10M (€1M, $1.2M) from Curitas Ventures and others (English, Swedish).
     
  • Katam Technologies (Malmö, SaaS solution for the forestry sector): SEK10M (€1M, $1.2M) from Almi Invest Greentech and angel investors (English, Swedish).
     
  • Cappy (Gothenburg, modern salary tool for employers to increase employees' motivation): SEK6M (€600K, $720K) from Almi Invest and angel investors (Swedish, machine translation).
     
  • WeTal (Stockholm, career marketplace for coders): SEK5M (€500K, $600K) from angel investors (English, Swedish).
     
  • Yaytrade (Stockholm, second hand marketplace for fashion and lifestyle products): SEK5M (€500K, $600K) from angel investors (Swedish, machine translation).
     
  • OmMej (Malmö, platform for public agencies to assess children's mental health): SEK4.7M (€470K, $570K) from Almi Invest and angel investors (English, Swedish).
     
  • Pliance (Stockholm, anti money laundering automation for fintechs): SEK4.3M (€430K, $520K) from Gorilla Capital and angel investors (English, Swedish).
     
  • Swedish VC firm EQT Ventures led a €5M ($6M) seed round raised by Norwegian visual editing platform Vev (English) as well as a $15M funding round raised by German synthetic biology company Origin.Bio (English).
News from Swedish startups and the tech sector
  • 2300 companies from all over the world have applied for the Norrsken Foundation's first eight-week Impact Accelerator. Out of the 20 startups that were selected, 4 are from Sweden: Cem Vision, Cling Systems, Molecular Attraction and My Pick (Swedish, machine translation).
     
  • A tech error caused a data breach at Klarna affecting about 9500 customers, according to the company (English). Meanwhile, Klarna is reportedly close to securing a new funding round at a valuation of more than $40B, with SoftBank being one of the investors (English).
     
  • How social enterprises such as Changers Hub and Mitt Liv help to make Stockholm's startup scene more diverse (English).
     
  • With its loan comparison service, the Swedish startup Låntagarnas launched one year ago to attack ethically questionable industry practices by not being profit-driven. Now the company has filed for bankruptcy (Swedish, machine translation).
     
  • The Swedish government is planning adjustments to the rules for startup employee stock options to include more companies (Swedish, machine translation).
     
  • Danish digital banking startup Lunar is adding stock trading to its Swedish offering, looking to compete with the leading Swedish trading apps Avanza and Nordnet (Swedish, machine translation).
     
  • Pexip, Norwegian video conferencing service and Zoom competitor, plans to grow on the Swedish market, particularly eyeing customers in the public sector (Swedish / IDG paywall).
     
  • Draknästet, the Swedish version of the British TV program Dragon's Den, will be back with a new season. The participating angel investors are Jacob de Geer, Lena Apler, Sara Wimmercranz, Shervin Razani and Jonas Eriksson (Swedish, machine translation).
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Other interesting things
  • The US hedge fund Tiger Global is on a spending spree in Europe while capital is cheap. But what happens when "normal" returns? (English).
     
  • Sweden’s five-step plan for ditching pandemic restrictions (English).
     
  • Due to gang violence, Sweden is the only European country where fatal shootings have risen significantly since 2000 (English).
     
  • In Sweden’s far North, a space complex takes shape (English).
     
  • Why do Swedes care so much about butter knives? (English).
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For any feedback or comments, just hit reply.
Take care.

Martin
martin@swedishtechweekly.com
@swedishtechwkly
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