Welcome to Swedish Tech Weekly issue #4. I didn't plan to publish another issue in 2018, but there have been so many news during the week before Christmas that I changed my mind. Let's get to it.
Exits and funding rounds
News from startups and the tech scene
- Stockholm-based connected car company Springworks has been acquired by its UK-based competitor, Tantalum Corporation, for £14M (€15.6M) in an all-cash deal.
- Gothenburg-based startup Albert which provides digital learning tools for mathematics, announced that it completed a SEK50M (€4.8M) round from new and existing investors, including Schibsted Growth, Inbox Capital and RoosGruppen.
- Stockholm-based blood analytics startup Werlabs received SEK36M (€3.5M) from undisclosed investors (article in Swedish, machine translation).
- Stockholm-based video analytics specialist Vionlabs secured SEK30M (€2.9M) from Zenith Group (article in Swedish, machine translation).
- Besedo, a Stockholm-based company founded in 2004 offering a platform for different types of content moderation for websites, raised SEK30M (€2.9M), led by Swedish investment firm Spiltan.
- Stockholm-based startup Tiptapp, whose app helps people move things in and out of their homes, raised SEK26M (about €2.5M) from among others Atomico's Sophia Bendz (article in Swedish, machine translation).
- Stockholm-based greentech startup CorPower, which has developed a compact high-efficiency Wave Energy Converter, secured €2.3M in fresh funding. The new investors include Midroc New Technology, Almi Invest’s Greentech fund and InnoEnergy.
- Stockholm-based startup Enigio, which uses blockchain technology for digitization and long-term archiving of data, has raised SEK19M (€1.8M) in a financing round from Stockhorn Capital, Ann Grevelius, Sören Mellstig and Magnus Rosén (article in Swedish).
- Paydrive, a Stockholm-based startup providing an insurance product for drivers that is customized to the way of driving, raised SEK16M (€1.5M) from existing investors, the Norwegian insurer Gjensidige as well as NFT Ventures and Ålands Ömsesidiga Försäkringsbolag.
- Swedish VC firms Creandum, EQT Ventures and Spintop Ventures cashed in when Zynga bought 80 % of Helsinki-based mobile game maker Small Giant Games for $560M (Creandum's blog post, EQT's blog post, Spintop's blog post).
Other news and interesting things to read
- Stockholm-based payments firm PFC, formerly known as Betalo, has launched what its CEO Eli Daniel Keren calls "Sweden’s first neobank", P.F.C.
- Rdot, a startup founded in 2016 based in Gothenburg, has developed an e-paper display that its makers think is better than E Ink.
- Stockholm-based fintech Dreams, which has developed an app that is intended to make it easier to save and invest money, has reached a valuation of SEK450M (€43.5M) and 300,000 customers (article in Swedish).
- Entrepreneur and angel investor Erik Byrenius created the new Swedish financing instrument WISE (Warrants for Investment in Startup Equity), inspired by Y Combinator’s Safe convertibles.
- Move To Nordics is a site that connects Nordic startups with talent outside of the Nordics, initiated by Stockholm-based startup hub Sup46, Malmö Startups and other partners from the Nordic countries.
- Berlin-based food delivery service Delivery Hero, led by Swedish CEO Niclas Östberg, has sold its German operations to Takeaway.com for €930M.
- When it recently started to snow in Stockholm, Voi temporarily removed its e-scooters from the streets of the capital, while U.S.competitor Lime didn't (article in Swedish, machine translation).
- Spotify and music publishing company Wixen have mutually agreed to dismiss the $1.6B lawsuit Wixen filed back in 2017.
- The 29th iteration of the Icehotel in the Swedish town of Jukkasjärvi has opened its doors, including many impressive ice sculptures.
And a little correction from last issue: Sweden’s innovation agency is named Vinnova.
Thanks for reading. See you again in 2019!
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P.S. check out my other newsletter, filled with interesting, insightful and thought-provoking things to read about the digital world: weekly.meshedsociety.com.