Welcome to Swedish Tech Weekly issue #102.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- MTG (Stockholm, digital entertainment holding company) acquires the New Zealand-based gaming studio and publisher Ninja Kiwi for SEK1.2B plus earn-out (English, Swedish).
- Optimizely, formerly known as Episerver (Stockholm, content management company) acquires US-based customer data platform startup Zaius. Terms were not disclosed (English, Swedish).
- IFS (Linköping, enterprise software company) acquires Axios Systems, a UK-based provider of cloud-based ESM software. Terms were not disclosed (English).
- Euronext Centevo (Stockholm, provider of digital services to fund managers, asset managers and distributors) has been acqired by London-based financial solutions provider Profile Software. Terms were not disclosed (English).
News from Swedish startups and the tech sector
- Fishbrain (Stockholm, social network for anglers): $31M from Consensus Småbolagsfond and Adrigo Asset Management, as well as existing investors including Softbank (English, Swedish).
- Linas matkasse (LMK Group) (Stockholm, grocery bag delivery service): SEK250M (€25M, $29M) through an IPO (English, Swedish).
- Peltarion (Stockholm, AI platform aimed at operationalizing AI technology quickly): SEK150M (€15M, $17.3M) from existing investors (English, Swedish).
- Wayout (Stockholm, plug and play micro factories for local production of water and beverages): SEK30M (€3M, $3.5M) from Moomin Characters and angel investors (Swedish, machine translation).
- Checkin.com (Regily) (Stockholm, provider of registration flow solutions for online services): SEK20M (€2M, $2.3M) from TIN Fonder och Erik Selin (English, Swedish / DI Digital paywall, Swedish #2).
- Higher (Stockholm, mobile recruiting system): SEK20M (€2M, $2.3M) from undisclosed investors (Swedish, machine translation).
- Posterton (Stockholm, online store for posters): SEK18M (€1.8M, $2.1M) from undisclosed investors (Swedish, machine translation).
- PreVet (Uppsala, mobile app for communication between horse owners and veterinary doctors): SEK15M (€1.5M, $1.7M) from among others SLU Holding, Almi Invest and Linnéa Capital (English, Swedish).
- Skinome (Stockholm, direct-to-consumer skincare brand): SEK11.5M (€1.1M, $1.3M) from BioGaia Invest, Spotchain and existing shareholders (English, Swedish).
- Eletive (Malmö, SaaS platform for HR to help employees succeed): SEK11M (€1.1M, $1.3M) from existing and new shareholders (English).
- TIGERq (Lund, creator of gene editing analysis solutions): SEK10M (€1M, $1.2M) from undisclosed investors (English).
- Diplocs (Stockholm, self-checkout solution for physical retail): SEK1.5M (€150K, $170K) from Niklas Aronsson (Swedish, machine translation).
- Roaring (Stockholm, creator of automated digital flow & processes for customer relations and business online): undisclosed amount from Nordstjernan for a 20 percent stake (English, Swedish).
- Swedish VC firm Bonnier Ventures participated in a €4M funding round raised by Finnish marketing campaign analytics startup Sellforte (English).
- Swedish VC firm Industrifonden and the finance institute Swedbank participated in a €10M funding round raised by UK-based digital banking solutions provider Meniga (English).
- Swedish impact VC fund Norrsken VC participated in a €7M funding round raised by German startup Bluu Biosciences, developer of lab-grown seafood (English).
- Swedish VC firm Creandum led a £2.25M seed round raised by UK-based payment technology company Osu (English).
- Ingka Group, the owner of most IKEA stores, has bought a $16M stake in UK-based proprietary geocode startup what3words (English, Swedish).
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- Heart Aerospace, Gothenburg-based startup building an electric regional airplane, has secured Finnair as a potential customer. The airline signed a letter of intent to acquire up to 20 electrical aircrafts by 2026 (English).
- Newly founded startup Quartr from Gothenburg wants to bring investor relations into the digital age, starting with an iOS app for conference calls (Swedish, machine translation).
- X Shore, Stockholm-based creator of all-electric boats, is making a US debut by starting to sell its model Eelex 8000 to North Americans (English).
- Meanwhile, Stockholm-based startup, Candela is building the "world’s first electric, hydrofoil ferry" for the city of Stockholm (English, Swedish).
- Sharing economy startup ihopa launches "Grannboxen" with partners in Stockholm, a sharing box for neighborhoods stocked with electric and battery-powered garden tools (English).
- The Norrsken Foundation has confirmed the closing of its impact venture fund at SE1.2B (€120M, $140M) (Swedish, machine translation).
- The Financial Times wrote a short piece about Stockholm's current startup buzz and how it attracts global VC attention (English).
- VC firm Creandum has published a pitch deck template for Series A fundraising (English).
- Berzelius, Sweden's fastest supercomputer for AI and machine learning, is now online at Linköping University (English, Swedish).
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Other interesting things
- H&M has been removed from Chinese apps over Xinjiang cotton boycott (English).
- Sweden plans to charge airlines more at takeoff and landing if their aircrafts are more polluting (English).
- Last year, 86 percent of households and companies in Sweden had access to a broadband connection offering 100Mbit/s or more (Swedish, machine translation).
- Costco, the American multinational chain of big-box retail stores, plans to open its first Swedish store in the Stockholm suburb Täby in 2022 (Swedish, machine translation).
- I'll take next week off, so issue #103 of Swedish Tech Weekly will be published in about 2 weeks.
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