Welcome to Swedish Tech Weekly issue #47.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Aptic, a Stockholm-based provider of credit management solutions, is acquiring its competitor Asitis, based in Skövde, for an undisclosed amount (English, Swedish / DI Digital paywall).
- Fodi, a Stockholm-based hyperlocal online grocery store, acquires Stockholm-based b2b food distributor company Gården Direkt for an undisclosed amount. Fodi also raised new funding, see section below (English, Swedish).
This issue is supported by Mindpark. Mindpark is a series of coworking spaces in southern Sweden, and a hub for entrepreneurship and tech in that region. Besides coworking they also hosts tons of events, and also do things such as Camp Ven. If you are looking for a community in Malmö, Lund or Helsingborg, check them out.
- Grafana Labs (New York/Stockholm, open source platform for analytics and monitoring): $24M in a Series A from Lightspeed Venture Partners with participation from Lead Edge Capital (English, Swedish)
- Bublar (Stockholm, creator of AR experiences for mobile platforms): SEK40M (€3.7M, $4.1M) through a directed share issue (Swedish, machine translation).
- Fodi (Stockholm, hyperlocal online grocery store): SEK17.5M (€1.6M, $1.8M) from angel investors (English, Swedish).
- Match2One (Stockholm, programmatic advertising platform): SEK8.5M (€800K, $880K) from angel investors (English, Swedish).
- Boostified (Malmö, digital marketplace for brands & influencers): SEK7M (€650K, $720K) from Almi Invest and others (Swedish, machine translation).
- Togee (Stockholm, mobile app for shared screen experiences): SEK7M (€650K, $720K) from undisclosed investors (English).
- Elbilio (Stockholm, platform to enable shared use of electric vehicles): SEK3M (€270K, $310K) from Klövern (English, Swedish).
- Shesize (Kinna, fashion brand and retailer for women with focus on fit): undisclosed amount from Carolin Solskär (Swedish, English).
- Swedish VC firm Northzone led a $60M financing round raised by London-based startup Pollen (formerly Verve), a word-of-mouth selling platform (English).
News from Swedish startups and the tech scene
Other interesting things
- Spotify surprised with an operating profit in its recent quarterly report (English). Here's an analysis of the quarter with a focus on podcast usage (English). Meanwhile in the US, the company is testing to let artists pay to promote their releases to their fans (English), and in Irland it has launched an app for kids (English).
- Acast, Stockholm-based podcast platform, is launching Acast Studios, a dedicated original content development arm (English).
- Divvit, a Lund-based e-commerce analytics platform, has filed for bankruptcy less than a year after having been acquired by the London-based marketing technology company Ve Global (Swedish / DI Digital paywall, Swedish #2, machine translation).
- Bigheart, a Helsingborg-based maker of an app that lets people donate money to charity by watching adds, will launch internationally, with focus at first on the UK (English).
- 93 startup companies with innovative business ideas are sharing SEK28M (€2.6M, $2.9M) from Sweden’s innovation agency Vinnova (English).
- Comparison of more than a dozen European digital healthcare startups, including the 3 Swedish players Kry, Min Doktor and Doktor.se (English).
- Overview and short profiles of 9 Swedish startup accelerator programmes (English).
- Regtech (which is short for regulatory technology) is hot in Sweden. Literally: Regtech Solutions, Reg&Tech Solutions and newly launched Transcendent subsidiary RegTech are all different companies (Sweden, machine translation).
- Fewer women start companies in Sweden than in other countries. Entrepreneur and angel investor Hellen Wohlin Lidgard points to a combination of the Law of Jante and a society-wide internalized expectation of women as having to act likeable and as not being driven by money, as possible explanation. Wohlin Lidgard writes that she has observed foreign-born female entrepreneurs in Sweden using a bolder, more business-minded style, which according to her leads the way (Swedish, machine translation).
- Sweden's ongoing issue with work permit rejections over minor mistakes by employers (English).
- Amazon has launched a version of its audiobook service Audible for the Swedish market (Swedish, machine translation).
- A study from the US investigating the benefits of tech clusters (English).
- Bloomberg article on the Swedish smokeless tobacco product "Snus", which is about to get a big push in the US (English).
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