Welcome to Swedish Tech Weekly issue #51.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- PRNT, a highly profitable Southern Swedish company operating StickerApp.com, a service for printing custom stickers and labels, has sold a 51 percent stake for SEK255M (€24M, $26.5M) to the Stockholm-based investment company Creades (English, Swedish).
News from Swedish startups and the tech sector
- Detectify (Stockholm, web app vulnerability scanner): €21M ($23M) in a financing round led by Balderton Capital, with participation from existing investors (English).
- 24Storage (Stockholm, providing self storage services): SEK100M (€9.4M, $10M) from Adrigo Asset Management, Consensus Asset Management and others, ahead of a planned public listing (English, Swedish).
- Coherence (Malmö, developing a cloud platform for building virtual worlds): SEK24M (€2.3M, $2.5M) in a seed round led by Firstminute Capital (English, Swedish).
- Mynt (Stockholm, digital platform for SME financing solutions): SEK17M (€1.8M, $1.7M) from new and existing investors, including Svea Ekonomi and Luminar Ventures (English, Swedish).
- Allabrf (Stockholm, digital platform for tenant-owner associations; Swedish "bostadsrättsföreningar"): SEK10M (€940K, $1M) from Stronghold Invest and angel investors (English, Swedish).
- Done (Stockholm, on-demand home services marketplace): SEK3.4M (€320K, $350K) from Antler and angel investors (English, Swedish).
- Swedish trade and services group Axel Johnson led a NOK177M (€17.5M, $19.3M) financing round raised by Norwegian startup Otovo, which operates a platform for distributed energy installers for residential solar energy systems (English).
- Swedish investment firm Abelco has bought an 8 per cent stake in Vopy, a soon-to-be-launched Norwegian provider of neobanking technology (Swedish, machine translation).
Other interesting things
- Elk, a Stockholm-based developer of technologies for connected musical instruments and audio devices, releases an open-source version of its audio operating system, Elk Audio OS (English, Swedish).
- Acast has opened up its podcasting platform, allowing every podcaster, big and small, to use all of its tools (English, Swedish).
- Ranking of the 50 Swedish tech companies that experienced the highest average revenue growth during the past 4 years, according to Deloitte. Leading are Hazelight, Truecaller and APPRL (English).
- Stockholm-based VC firm eEquity, which focuses on e-commerce businesses, has raised a new fund in the range of SEK1B (~ $100M) (Swedish / DI Digital paywall, Swedish #2, machine translation).
- blq Invest is a new VC firm based in Stockholm which plans to close its first fund at around SEK200M (around $20M) and reportedly already has raised half of it (English, Swedish).
- Spotify is reportedly being sued in the US by an independent music company which says it is seeking “over $1B in damages” for not having been paid full royalties (English). In other Spotify news: In March, the company's first every Award Show will take place in Mexico City (English).
- A list of Sweden-based women with expertise in artificial intelligence (Swedish, machine translation).
- "I was pregnant when I joined a tech startup in crisis as its CEO" – podcast interview with Maryam Ghahremani, CEO of Stockholm-based live video streaming company Bambuser (Swedish).
- Most of you probably have already seen Atomico's "State of European Tech report" for 2019, but if you haven't: It contains lots of fascinating and informative insights (English).
- Two 14-year old youngsters are voluntarily helping to park e-scooters in Stockholm properly, and sharing the progress on Instagram (Swedish, machine translation).
- Skavsta Airport, south of Stockholm, will test facial recognition technology to spot criminals (Swedish, machine translation).
- Providing pupils with a personal laptop or tablet for use in classrooms leads, on average, to no significant impact on either standardized tests in mathematics or language nor on the probability of being admitted to upper secondary school, nor on the the students’ choice of educational track, according to a new Swedish study (English, Swedish).
- Zlatan Ibrahimovic, who grew up in Malmö, bought around a quarter of the shares in Stockholm-based football team Hammarby (English).
- Budget airline Norwegian will be ending its long distance flights from Stockholm and Copenhagen to the US and Thailand (English).
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