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News from the Swedish startup and tech sector




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.

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Exits and funding rounds
  • 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).
News from startups and the tech scene
  • 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.
Other news and interesting things to read
  • The 29th iteration of the Icehotel in the Swedish town of Jukkasjärvi has opened its doors, including many impressive ice sculptures.
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And a little correction from last issue:
Sweden’s innovation agency is named Vinnova.

Thanks for reading. See you again in 2019!

Please spread the word about Swedish Tech Weekly. Point your colleagues, business partners and friends to swedishtechweekly.com.

P.S. check out my other newsletter, filled with interesting, insightful and thought-provoking things to read about the digital world: weekly.meshedsociety.com.

Martin
martin@swedishtechweekly.com
Copyright © 2018 Swedish tech weekly, All rights reserved.


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