Welcome to Swedish Tech Weekly issue #44.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers and acquisitions
- King, the Stockholm-founded interactive entertainment comopany most known for Candy Crush, has acquired Stockholm-based game studio Hatrabbit, which now will shut down (Swedish, machine translation).
- Ahum, a Stockholm-based online therapy startup, has acquired its competitor Motifire. Terms were not disclosed. New CEO of the company is Kicki Theander, who in 2007 founded and 10 years later sold Middagsfrid, which is credited with having been the world's first meal-kit company (English, Swedish).
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- Matsmart (Stockholm, online store selling surplus production and overstocks): SEK182M (€16.6M, $18.2M) from Metro AG (through LeadX Capital Partners) and existing investors, for international expansion (English, Swedish).
- Dreams (Stockholm, consumer app for financial services and smarter savings): SEK90M (€8.2M, $9M) from existing investors, ahead of expansion into Germany (Swedish / DI Digital paywall).
- Bright Sunday (Stockholm, offering financing solutions for solar and cleantech): SEK85M (€8M, $8.5M) from Creades and angel investors (English, Swedish).
- Vässla (Stockholm, manufacturer of electrical mopeds): SEK25M (€2.3M, $2.5M) from angel investors (English, Swedish).
- Unikum (Stockholm, online education platform): SEK20M (€1.85M, $2M) from JCE and others (English, Swedish).
- Encare (Stockholm, provider of cloud-based software for healthcare): SEK15M (€1.4M, $1.5M) from undisclosed investors (English, Swedish).
- Whalebone (previously Melobee) (Stockholm, upcoming online live music platform): SEK10M (€910K, $1M) from angel investors (Swedish / DI Digital paywall).
- Cardia (Stockholm, mobile solution to improve the process of selling or buying a used car): SEK2M (€180K, $200K) from Levels and angel investors (English, Swedish).
- Swedish VC firm Northzone participated as a follow-up investment in a $60M Series B funding round raised by German e-scooter startup TIER Mobility (English).
- Husqvarna, Swedish manufacturer of outdoor power products, has invested in Helsinki-based IoT sensor startup Soil Scout (English).
News from Swedish startups and the tech scene
Other interesting things
- For life science startups such as Sigrid Therapeutics, it isn't easy to exist and grow without assistance from a big corporation. But so far, the Stockholm-based company which aims to prevent and treat lifestyle diseases, has managed (English).
- Swedish Algae Factory, a Gothenburg-based startup working on improving the efficiency of solar panels and other products with materials created from algae, has won the final of the Postcode Lotteries Green Challenge and received €500K ($550K) in prize money (English, Swedish).
- Over the course of the last five and a half years, only 3 people have left the (in parts remotely working) team of Malmö-based street-level imagery startup Mapillary, according to this interview with CEO and founder Jan Erik Solem (English).
- Altered, a Stockholm-based startup developing and selling high-end water saving solutions, says it will start selling its water saving noozle at IKEA next year (Swedish, machine translation).
- Swedish VC firm Creandum won the Europe-focused “Venture Capital Fund of the Year” award as part of the yearly Investor Allstars event (English).
- The leading Nordic banks have agreed on a plan for the realisation of "the Nordic region's first real-time payments system" , due to be created by their jointly owned company P27 Nordic Payments Platform. The ambition is to launch in 2021 (English, Swedish).
- With the acquisition of the podcast firms Gimlet and Anchor earlier this year, "Spotify has likely triggered the start of a whole new podcasting era", according to this feature article on the "era of big podcasting" by Vulture (English).
- Zlatan Ibrahimovic, Sweden's best-known footballer, unveiled an almost three-meter tall bronze statue of himself in his hometown of Malmö (English).
- A new book based on interviews and surveys with 886 residents of 2 of Sweden's currently 22 "particularly vulnerable areas" offers insights into and learnings from life in the country's segregated, often struggling migrant suburbs (Swedish, machine translation).
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