Welcome to Swedish Tech Weekly issue #41.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Spotify aquired SoundBetter, a NYC-based music production marketplace, for an undisclosed sum (English).
- Storytel, Swedish audiobook and e-book streaming service, acquires Finland’s third-largest book publishing house Gummerus Kustannus. The price was not disclosed (English).
- 8 Dudes in A Garage, a Gothenburg-based startup operating IGDB (Internet Games Database), has been acquired by Amazon-owned live streaming platform for gamers Twitch. The price was not disclosed (English, Swedish).
News from Swedish startups and the tech scene
- CAKE (Stockholm, manufacturer of lightweight electric off-road performance motorcycles): $14M in a round led by by Creandum and including e.ventures as well as existing investors (English, Swedish).
- foreseeti (Stockholm, provider of automated threat modeling and attack simulation solutions): SEK20M (€1.9M, $2.1M) from existing investors and others (English, Swedish).
- Normative (Stockholm, solution for automated sustainability reporting): $2M from byFounders, Luminar Ventures, Wave Ventures and SoundCloud co-founder Eric Wahlforss (English).
- Radinn (Malmö, maker and seller of electric boards for water sports): SEK15M (€1.4M, $1.55M) from existing investors (English, Swedish / DI Digital paywall).
- Minnemera (Stockholm, digital platform for cognitive tests aimed at health care providers): SEK7.5M (€700K, $775K) from Almi Invest, Sting and angel investors (English, Swedish).
- Evispot (Gothenburg, software that helps banks develop AI-credit models): SEK6M (€560K, $620K) from Almi Invest, Chalmers Venture and angel investors (English, Swedish).
- Geras Solutions (Stockholm, creator of digital solutions for people impacted by dementia): SEK5M (€460K, $515K) from Add Health Media and angel investors (English, Swedish).
- Washaway (Stockholm, on-demand laundry service): SEK3M (€280K, $310K) from angel investors (Swedish, machine translation).
- AKOA, Another Kind Of Automation (Stockholm, software for business process automation): undisclosed amount from Scania Growth Capital (English, Swedish).
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- Northmill, a Stockholm-based fintech launched in 2006, has received a banking license from the Swedish Financial Supervisory Authority (SFSA) and plans to launch banking operations (English, Swedish).
- Lendify, Stockholm-based lending platform, plans to enter Sweden’s $350B mortgage market within the next years (English).
- Simpliday, a startup from Malmö offering a calendar app which previously raised SEK30M, has filed for bankrupty (Swedish / DI Digital paywall, Swedish #2, machine translation).
- Natural Cycles' co-founder and CTO Elina Berglund discusses the company's fertility app on Bloomberg TV (English, 4 minutes).
- Norrsken Foundation, the Stockholm-based impact fund launched in 2016 by Klarna co-founder Niklas Adalberth, has received another €31M from Adalberth (English).
- Interview with Markus Hökfelt, in charge of the new Greentech fund at Almi Invest (Swedish, machine translation).
- A report about impact investing in the Nordics, based on a survey with responses from 84 investors (English).
Other interesting things
- PayPal co-founder Ken Howery is the new US ambassador to Sweden (English).
- The Marianne and Marcus Wallenberg Foundation has granted SEK96M (€9M, $10M) to be shared by 16 research projects across nine universities and institutions around Sweden, studying the impact of artificial intelligence and autonomous systems on society and behaviour (English).
- The small northern Swedish city of Skellefteå is excited about but also feeling the pressure of the grand plans which energy storage startup Northvolt has for the area (English).
- Longread about Norway's plan to tackle (social media-fueled) over-tourism (English).
- Greta Thunberg interviewed on The Daily Show (English, 9 minutes)
- Zalando, Germany-headquartered online fashion retailer, is launching a four-week pilot in Sweden and the other Nordic countries to test reusable packaging (English, Swedish).
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