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Welcome to Swedish Tech Weekly issue #58.
Bringing you the latest from Sweden's tech and startup industry.

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Mergers & acquisitions
  • Verbling, a San Francisco-based language learning platform founded by the 3 Swedes, has been acquired by London-based competitor Busuu, in a double-digit million dollar deal (English, Swedish).
  • Unomaly, a Stockholm-based maker of a solution for automating analysis of data produced by IT systems, applications and software, has been acquired by U.S. IT infrastructure monitoring company LogicMonitor. Terms were not disclosed (English, Swedish).
  • Musqot, a Stockholm-based marketing performance management software platform, has been acquired by Proof, a U.S.-based leader in automated marketing mix modeling. Terms were not disclosed (English, Swedish).
Financing rounds
  • Elypta (Stockholm, advancing cancer detection): SEK65M (€6.1M, $6.7M) in a funding round led by Industrifonden and Sciety with participation from Norrsken Foundation, Nina Capital and Chalmers Ventures (English, Swedish / DI Digital paywall).
  • (Stockhlm, esports hub): SEK55M (€5.2M, $5.7M) from among others Back In Black and RoosGruppen (English, Swedish / DI Digital paywall).
  • Noquo Foods (Stockholm, developer of plant-based cheese): €3.25M ($3.6M) in a seed round from among others Astanor Ventures, Northzone, Inventure, Purple Orange Ventures, and Creandum (English, Swedish).
  • Sendify (Gothenburg, logistics platform with access to affordable shipping solutions): €1.7M ($1.9M) in a financing round led by Atlantic Labs (English).
  • Limina (Stockholm, maker of an investment management solution): SEK15M (€1.4M, $1.5M) from Almi Invest, Vidici Ventures and STOAF (English, Swedish).
  • Medpeople (Stockholm, digital service for healthcare staffing): SEK10M (€930K, $1M) from Gullspång Invest and Bonit Capital (English, Swedish).
  • Swiftr (Stockholm, subscription service for fitness studios): SEK8.7M (€800K, $900K) from Camshaft and 2BE.LU (Swedish #1 / DI Digital paywall, Swedish #2, machine translation).
  • Bluecall (Stockholm, provider of a digital mental health solution for companies): SEK8M (€750K, $820K) from existing investors and angel investors (English, Swedish).
  • Indivd (Sundsvall, maker of privacy-respecting facial recognition technology): SEK3M (€280K, $310K) from angel investors (Swedish, machine translation).
  • Mysaly (Stockholm, providing a financial service for businesses interested to pay their employees salaries in advance): undisclosed amount from Quinyx and Alfvén & Didrikson (English, Swedish).
  • Swedish VC firm EQT Ventures led a $22.3M Series B funding round raised by Swiss brand management platform Frontify (English).
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News from Swedish startups and the tech sector
  • Stockholm-based VC firm Brightly Ventures has closed its first fund at SEK550M (€51M, $57M) (Swedish, machine translation).
  • J12 Ventures is a new Stockholm-based early-stage investment fund which has raised SEK300M so far, with a total of SEK500M targeted (English, Swedish).
  • Örebro-based remittance startup Transfer Galaxy has announced that for the first time, SEK100M (around $10M) has been transferred over the course of one month (Swedish, machine translation).
  • Short video interview with Måns Ullerstam, CEO at Kale United, a Stockholm-based holding company that wants to increase the global availability and awareness of plant-based products (Swedish).
  • Willard Ahdritz, Swedish founder of London-based tech-centric music label Kobalt, is leaving the CEO role and will instead become chairman (English).
Other interesting things
  • In a partnership between 6 Swedish university libraries, every print product ever created in Sweden since the 15th century will be converted into digital form (Swedish, machine translation).
  • Sweden's central bank and a few other international central banks are banding together to research digital currencies (English).
  • Chinese-owned Swedish car brand Volvo intends to be a dominant player in the electric vehicle space (English).

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