Welcome to Swedish Tech Weekly issue #37.
Here is the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Specops, a Stockholm-based provider of password and authentication solutions founded in 2001, has sold a majority stake to the equity investment firm Monterro, for reportedly more than SEK100M (€9.4M, $10.4M) (English, Swedish).
- Tech Troopers, a Stockholm-based startup providing tech support solutions, has been acquired by Stockholm-based Bredbandsgruppen (Smartify), which is active in the same sector. Financial terms have not been disclosed (Swedish, machine translation).
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- Brocc (Stockholm, digital market place for consumer loans): SEK70M (€6.5M, $7.3M) equity financing from existing investors as well as an undisclosed amount of debt financing from Goldman Sachs for the issuing of loans (Swedish, machine translation).
- Morjas (Stockholm, direct-to-consumer shoe brand for men): SEK13.6M (€1.3M, $1.4M) from Camshaft and others (English, Swedish).
- Dashl (Stockholm, digital concierge service for beauty treatments): SEK13M (€1.2M, $1.35M) from CO:LAB, Ameriana and angel investors (Swedish, machine translation).
- Rumblestrip (Linköping, developer of an intelligent fuel reducing system for trucks): SEK3M (€280K, $310K) from Almi Invest (Swedish, machine translation).
- TechBuddy (Stockholm, connecting gig-working technicians with people in need of tech support): undisclosed amount through a crowdinvesting round (Swedish, machine translation).
- Swedish VC Northzone participates in a $22.3M financing round raised by Berlin-based game studio Klang (English).
News from Swedish startups and the tech scene
Other interesting things
- VOI, the Swedish e-scooter startup, plans to raise a financing round in the range of SEK1B ($100M), which would be more than the total amount raised so far (Swedish / DI Digital paywall).
- A profile of Corite, a startup from Stockholm offering a platform for crowdinvesting in music artists, which last week announced a financing round (English).
- Northfork, a Stockholm-based SaaS startup from the makers of Gastrofy (and based on Gastrofy's technology platform), has secured partnerships with Walmart and Buzzfeed-owned food network Tasty to generate Walmart shopping carts based on Tasty recipes (Swedish, machine translation).
- Vélosophy, a Stockholm-based startup that produces bikes using recycled aluminium, has created an urban bicycle made from discarded Nespresso pods (English).
- There are now 30 Swedish startups valued at SEK1B ($100M) or more which haven't had an exit yet (Swedish, DI Digital paywall).
- Lunar Way, a Denmark-based challenger bank which just raised €26M in funding, is looking to grow on the Swedish market (English, Swedish / DI Digital paywall).
- Yubico, Stockholm- and Silicon Valley-based provider of solutions for secure logins, has launched a security key with dual support for iPhones, Macs and other USB-C compatible devices (English).
- The Norrsken Foundation is about to add incubation and acceleration programs to its service portfolio, which currently includes its seed fund and coworking space in Stockholm (English).
- A list of 100+ Nordic startup events to attend in 2019 – 2020 (English).
- Swish, the p2p payment app owned by several banks, is Sweden's strongest technology brand and ranks #3, after IKEA and grocery chain ICA, according to YouGov's BrandIndex (Swedish, machine translation).
- What the members of the so-called "Skype Mafia" are doing these days (English).
- Parts from the book "Spotify Untold", those detailing the music streaming company's turbulent journey into the US, are possibly about to be turned into a limited TV series. A firm from the UK has optioned the screen rights (English).
- IKEA is launching a business unit for smart home products (English).
- H&M will trial a service to rent clothes to customers at its flagship store at Sergels Torg in Stockholm (Swedish, machine translation).
- Explainer about the art of having an argument in Sweden. Conflict here is handled a bit differently than what's typical in for example the US, UK, Germany or France (English).
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