Welcome to Swedish Tech Weekly issue #39.
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Mergers & acquisitions
- Doro, a Malmö-based public company that develops telecom products and services for seniors, acquired UK-based telecar company Invicta Telecare, for SEK60M (English).
- Hästnet, an online destination for everything about horses founded in 2003 and based in Stockholm, has acquired UK-based online pet classifieds website Pets4Homes. Terms were not disclosed. The acquisition was financed through an equity investment round raised by Hästnet, see below (Swedish, machine translation).
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- Yubico (Stockholm & Palo Alto, provider of solutions for secure logins): $25M (€23M) from Meritech Capital Partners (English).
- Hästnet (Stockholm, online destination for everything about horses): SEK135M (€12.5M, $13.8M) from Verdane, Otiva, 183 Invest, Back in Black Capital and existing investors (Swedish, machine translation).
- Capcito (Stockholm, provider of invoice financing and SME lending solutions): SEK74M (€6.9M, $7.6M) from Schibsted Growth, Ventech and existing investors (English, Swedish).
- Reforce (Stockholm, provider of software to run a business in the digital age): SEK51M (€4.7M, $5.2M) from Creades, Swedbank Robur and Consensus Asset Management (English, Swedish).
- Danads (Åhus, platform for self-service advertising for publishers, brands and sellers): SEK25M (€2.3M, $2.5M) from angel investors, among them former Swedish finance minister Anders Borg (English, Swedish).
- Trustrace (Stockholm, provider of solutions to enable "Conscious consumerism and Responsible Production"): SEK10.5M (€1M, $1.07M) from Backing Minds (Swedish, machine translation).
- Abios (Stockholm, eSports data provider): SEK5M (€460K, $510K) from existing investors (English, Swedish).
- GoFrendly (Stockholm, social network for women to make new friends): undisclosed amount from Zenith Group (Swedish, machine translation).
- Dockstr (Stockholm, developer of online solutions for the offshore and marine sectors): undisclosed amount from "senior investors from the energy and technology industries" (English).
- Skillbreak (Stockholm, social learning platform): undisclosed amount from Wellstreet, Saminvest and angel investors (via Sting newsletter).
- Kinnevik led a $100M Series B raised by US-based national provider of primary care, VillageMD, with $75M of the amount coming from Kinnevik (English).
News from Swedish startups and the tech scene
Other interesting things
- Werlabs, a Stockholm-based blood analytics startup, is partnering with Swedish grocery chain ICA to offer Werlabs customers personalized food recommendations (Swedish, machine translation).
- Swish, the Swedish cashless app, is teaming up with six other companies to form a European network of mobile payment solutions (English).
- Clean Motion, a Lerum-based startup manufacturing electric three-wheeled vehicle in which Skype founder Niklas Zennström has a 6 % stake, is facing a liquidity crisis (Swedish, machine translation).
- Sting, leading Swedish accelerator & incubator for tech startups, has revealed 11 new companies to join its startup programs Sting Accelerate and Sting Incubate (English).
- Streamience, a startup from Stockholm developing streaming technology, has filed for bankruptcy (Swedish / DI Digital paywall).
- The Swedish Postal Service, PostNord, is shutting down its digital mail service, admitting defeat to startup competitor Kivra, which was faster to capture the market (Swedish, machine translation).
- Bird, major US player in the app-based e-scooter sector, has launched in Stockholm, the company's first Swedish city (Swedish).
- This weekend, what could become "the world's largest hackathon for women" is being hosted in Stockholm. A few more participants are needed though to break the record. No experience necessary, and all participants get a free pass for themselves and a friend to STHLM TECH FEST (English).
- Interview with/profile of Swedish VC Tatiana Shalalvand, who is Stockholm-based investment manager at Finnish VC firm Inventure (Swedish, machine translation).
- A compact guide to the Stockholm tech scene with all the relevant links, updated September 2019 (English).
- Sony plans to close down its Swedish Sony Mobile division based in Lund (English).
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