Welcome to Swedish Tech Weekly issue #100 – hooray! 🔥🔥🔥
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- EasyPark (Stockholm, digital services aimed at helping drivers to manage their parking across 13 countries) intents to acquire its rival PARK NOW, a joint venture by BMW Group and Daimler Mobility. Terms were not disclosed. According to Breakit, the price could be in the 3-digit million Dollar range (English, Swedish).
- Northvolt (Stockholm, energy storage) acquires US-based battery tech company Cuberg, will establish an advanced technology center in Silicon Valley. Terms were not disclosed (English, Swedish).
- Cellink (Gothenburg, 3D bioprinting provider) acquires US-based MatTek, global leader in in-vitro technology and alternative drug testing models, for $68M (English).
News from Swedish startups and the tech sector
- Epidemic Sound (Stockholm, music licensing provider for creators): $450M from Blackstone Group and EQT Growth at a valuation of $1.4B (English).
- Storytel (Stockholm, audiobook and ebook subscription service): SEK1.2B (€120M, $140M) through a directed share issue (English).
- Zaver (Stockholm, payment solution): SEK40M (€4M, $4.7M) from existing investor Inbox Capital and angel investors, for the European expansion (English, Swedish).
- Crosser (Stockholm, edge analytics & integration for Industry 4.0 and Industrial IoT): €3M ($3.6M) in a funding round led by NTT DOCOMO Ventures and Montan-Ventures-Saar, with existing investors also participating (English).
- SolidSport (Stockholm, live streaming service for sports teams): SEK23M (€2.3M, $2.7M) from angel investors and existing shareholder Telia (English, Swedish).
- Grönska (Stockholm, developer of systems for indoor vertical farming): SEK20.5M (€2M, $2.4M) from 82:an Invest, Peas Industries, Rite Ventures, Martas Explorers and others (English, Swedish).
- Learning to Sleep (Malmö, CBT-based digital sleep treatment solution): SEK12M (€1.2M, $1.4M) from Daniel Soussan and other undisclosed investors (English).
- Gardenize (Gothenburg, mobile app for gardening): SEK10M (€1M, $1.2M) from angel investors (English, Swedish).
- TradeBay (Stockholm, global fruit trading community): SEK9.5M (€940K, $1.1M) from Antler, J12 Ventures and DHS Venture Partners (English, Swedish).
- Indivd (Sundsvall, maker of privacy-respecting facial recognition technology): SEK8M (€800K, $950K) from Norrlandsfonden and existing angel investors (English).
- Simumatik (Skövde, cloud-based platform for virtual commissioning): SEK4M (€400K, $470K) from Almi Invest and angel investors (English).
- SignUp Software (Stockholm, accounts payable automation): undisclosed amount from Standout Capital (English).
- Voicemachine (Stockholm, B2B web app for professional voice-talents and media-clients): undisclosed amount from angel investors (English, Swedish).
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- Einride, Gothenburg's intelligent trucking startup, is reportedly eyeing a SPAC, while also being in the process of raising new funding (English).
- Meanwhile, Stockholm-based investment company Bure is launching Sweden's first SPAC (English).
- Hedvig, Stockholm-based digital home insurance provider, has received the approval from the Swedish Financial Supervisory Authority to offer full-fledged insurance products across Europe (Swedish, machine translation).
- With a new joint venture named Sweship, the media companies Bonnier News and Schibsted want to compete in Sweden's rapidly growing (last mile) delivery sector (Swedish, machine translation).
- TikTok has opened its Nordic headquarter in Stockholm, led by Liv Sandberg (Swedish, machine translation).
- Within 18 months, Maryam Ghahremani transformed Bambuser from live-streaming startup in crisis to thriving, highly valued live video shopping player with a global client list (Swedish / Breakit paywall).
- Food and quick commerce platform Foodora and the telecom provider Tele2 are piloting autonomous home delivery droids in Stockholm (English, Swedish).
- Spotify is introducing the audio miniseries "Spotify: A Product Story", told by the people who built it (English).
- Shops return to rural Sweden but are now staff-free (English) – also insightful comment discussion over at Hacker News about the dependency on BankID (English).
- Sweden is well positioned to take the lead in enhancing gender equality in AI applications, write Anna Felländer, Christer Forsberg Philip and Andrea Risberg of Stockholm-based AI Sustainability Center (English).
- 🎧 Spotify founder & CEO Daniel Ek talks with Harry Stebbins about optimising decision-making, the future of building Prima Materia, and other things (English).
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Other interesting things
- There are now over 800 climate tech companies in Europe, according to a new dataset gathered by VC firms Creandum and Speedinvest (English).
- In the US, the IKEA catalog is now a podcast (English).
- Stockholm and Oslo need to be connected by high-speed rail, argue the mayors of the 2 Scandinavian capital cities (Swedish, machine translation).
- Inside the $156B SPAC bubble (English / Bloomberg paywall – alternative URL).
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