Welcome to Swedish Tech Weekly issue #61.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Embracer, the Karlstad-based game company formerly known as THQ Nordic, is buying U.S. game developer Saber Interactive for up to $525M (English, Swedish).
- Footway, an online shoe retailer, is proposing to acquire online sports gear shop Sportamore, for SEK439M (€41M, $45) (Swedish, machine translation).
- Bygghemma, a Swedish DIY online store, has acquired 84 percent of its competitor Hemfint.se. The amount was not disclosed (Swedish, machine translation).
- Thunderful, a Gothenburg-based game publisher, has acquired Guru Games, a Skövde-based game developer. The amount was not disclosed (English).
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- MatHem (Stockholm, online grocery store): SEK500M (€47M, $52M) from AMF pension fund, Kinnevik, Verdane and Swedish hardware store chain Clas Ohlson (English, Swedish).
- LUB Foods (Stockholm, manufacturer of healthy functional foods): SEK190M (€17.7M, $19.6M) from undisclosed investors ahead of the company's US expansion (English, Swedish / DI paywall).
- Lexly, formerly Avtal24 (Stockholm, provider of online legal services): SEK50M (€4.7M, $5.2M) from LRF Konsult and others (English, Swedish).
- Asthmatuner (Stockholm, clinical validated asthma app): SEK15 (€1.4M, $1.5M) from Almi Invest and Butterfly Ventures (English, Swedish).
- Cardia (Stockholm, mobile solution to improve the process of selling or buying a used car): SEK5M (€470K, $520K) from Aggregate Media, Levels Invest and angel investors (English, Swedish).
- Swedish fashion giant H&M has done a follow-on investment in Aday, an U.S. e-commerce business focusing on sustainable clothes for women (Swedish, machine translation).
News from Swedish startups and the tech sector
Other interesting things
- Swedish startups raised SEK14.1B (€1.3B, $1.45B) during the first half of 2019. 80 percent of the capital went to companies from Stockholm. This alone represents more than the amount raised by Danish and Norwegian startups together, in all of 2019 (Swedish #1 / DI Digital paywall, Swedish #2, machine translation).
- Bzzt, the Gothenburg-based electrical podtaxi startup currently available in Stockholm, is changing its booking procedure and laying off about 25 drivers (Swedish #1 / DI Digital paywall, Swedish #2, machine translation).
- City Network, a Karlskrona-based global supplier of cloud services, has launched "the world’s first EU-compliant office suite" (English, Swedish / IDG Pro paywall).
- Tibber, a Stockholm- and Norway-based startup that wants to help people reduce their energy costs, is expanding into Germany (Norwegian, machine translation).
- In 2019, the Swedish e-commerce sector has generated sales of SEK87B (€8B, $9B), an increase of 13 percent compared to 2018 (English, Swedish).
- New details about the plans of Northvolt, Sweden's ambitious energy storage startup (English).
- Atomico, the London-based venture capital firm founded by Niklas Zennström and Mattias Ljungman in 2006, has closed its fifth fund at a record $820M (English).
- Samsung's latest wireless earbuds, Galaxy Buds+, come with a Spotify integration (English).
- Systembolaget, the Swedish alcohol monopoly, is suing Danish online wine marketplace Vivino, for the company's marketing of alcoholic products to Swedish customers (Swedish, machine translation).
- In the city of Västerås, one now finds Sweden's tallest wooden building. The total carbon dioxide saving is estimated to be 550 tonnes of CO2 when using solid wood instead of concrete (English).
- Swedish hotel chain Scandic has added a third brand to its portfolio: Scandic Go, which aims to capture more price-conscious customers (English).
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