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News from the Swedish startup and tech sector

Welcome to Swedish Tech Weekly issue #5. I hope 2019 has started for you as good as possible!
With the next issue on January 21, this newsletter will be back on the weekly Monday publishing schedule.

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Exits and funding rounds
  • Chinese tech giant Tencent has acquired a 36 % stake in Stockholm-based games developer Fatshark, reportedly for SEK500M (€48.8M).
  • Lund-based e-commerce analytics platform Divvit has been acquired by the London-based marketing technology company Ve Global for an undisclosed amount.
  • Stockholm-based rewards and customer loyalty app startup Wrapp has been bought by London-based fintech startup Meniga for an undisclosed amount.
  • Stockholm-based startup Accedo, provider of OTT video experience solutions, announced that it secured a $17M capital investment round from existing investor SEB Private Equity.
  • Stockholm-based startup Acuminor, provider of solutions for financial crime risk assessments, secured SEK15M (1.5M) in funding from newly founded Brightly Ventures (article in Swedish).
  • Mindler, a Stockholm-based startup providing app-based video sessions with psychologists, raised SEK12M (1.2M) from Luminar Ventures.
News from startups and the tech scene
  • For the Swedish VC firms Northzone and Creandum, 2018 has been a record year, thanks in part to the Spotify IPO and iZettle exit (article in Swedish, paywall).
  • Yubico, provider of solutions for secure logins founded in 2007 by Stina Ehrensvärd and today headquartered in Silicon Valley, announced the first Lightning security key for iPhones.
  • Stockholm-based eye tracking specialist Tobii partners with HTC to integrate its technology into a new HTC VR headset.
  • Five years after it was acquired by an U.S.-firm, widely popular website monitoring and performance management service Pingdom from Västerås plans to kill its free service.
  • Stockholm-based health app Lifesum is now available on Google Assistant.
  • Stockholm-based open banking startup Tink had its valuation increased to SEK2B (€200M) (article in Swedish, machine translation).
  • Interesting race: At least three different Swedish startups/services offering monthly audiobook subscriptions are currently in heavy expansion mode, with Germany appearing to be a major focus: Bookbeat (already live), Nextory, Storytel.
  • Swedish e-scooter startup Voi is designing a winter scooter that can survive through the snow and its slippery roads.
  • French ride sharing service and Uber rival Heetch is leaving the Swedish market (article in Swedish, machine translation).
Other news and interesting things to read
  • Interesting perspective from Chinese-born engineer Hongchao Liu (who’s been working in Sweden for many years) on the attractiveness of Sweden for tech experts and engineers.
  • Of course, non-EU tech experts can face certain challenges in Sweden related to immigration bureaucracy, as detailed by Mimi Billing in this feature article.
  • Finland is pushing to bring basic AI knowledge to its population, and according to this Politico piece, there are plans to partner with Sweden and Estonia to become Europe’s No. 1 “laboratory” for AI test trials.

Check out my other newsletter, filled with interesting, insightful and thought-provoking things to read about the digital world:

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