Welcome to Swedish Tech Weekly issue #53.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- RevolutionRace, a Borås-based e-commerce company for outdoor clothing, has sold an additional stake to the private equity firm Altor, which thereby becomes the majority owner, owning 63 % of the shares (Swedish #1 / DI Digital paywall), Swedish #2, machine translation).
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- Kivra (Stockholm, digital mailbox service): SEK40M (€3.8M, $4.2M) from new and existing investors, partly for expansion into Finland (Swedish / DI Digital paywall).
- Waya, formerly Inkassogram (Stockholm, digital invoicing and debt collection solution): SEK30M (€2.9M, $3.2M) from undisclosed investors (English, Swedish).
- PerceptiLabs (Stockholm, developer of a drag and drop UI for machine learning): SEK20M (€1.9M, $2.1M) from Luminar Ventures, Brightly Ventures, Sting and angel investors (English, Swedish).
- Prion (Stockholm, preschool app): SEK4.4M (€420K, $470K) from Icebreaker.vc, Propel Capital and angel investors (English, Swedish).
- Doconomy (Stockholm, creator of climate-friendly fintech solutions): undisclosed amount from Mastercard (English).
- Volvo Group made an investment in Palo Alto-based Apex.AI, a startup working on developing a robotic operating system qualified for use in production automobiles. Terms were not disclosed (English, Swedish).
- IKEA bought a minority stake in the U.S. logistics startup Optoro, whose software helps retailers manage returns in a more efficient way (English, Swedish).
News from Swedish startups and the tech sector
Other interesting things
- Lifesum, the Stockholm-based digital health startup, reports 35 million users and says it's doing well, also "on the tough US market" (Swedish, machine translation).
- Profile of Volta Greentech, a Stockholm-based startup which is working on algae-based food supplement for cows to reduce their methane emissions (Swedish, machine translation).
- Tapper, a Stockholm-based startup, has created straps for Apple's wireless headphones AirPods, raising a few eyebrows and provoking mockery (Swedish, machine translation).
- Exclusivity clauses in some contracts of Swedish gym subscription startup Bruce led to a conflict with the competitors Swiftr and the US rival Classpass (Swedish, machine translation).
- Einride, Gothenburg's self-driving truck startup, will launch a commercial pilot of driverless electric pods with Coca-Cola European Partners (English).
- Volvo Group Venture Capital has invested in the US venture capital fund Autotech Ventures which is focusing on startups in the ground transportation sector (English, Swedish).
- The average profit margin of Sweden's top 30 e-commerce stores decreased from 1.44 % in 2017 to 0.84 % in 2018 (Swedish, machine translation).
- NuvoAir, Mindpark, and Malin Frithiofsson are the Swedish winners of the 7th season of the Nordic edition of the Global Startup Awards (English).
- Netflix will develop a scripted series inspired by the book "Spotify inifrån" / “Spotify Untold” by business reporters at Dagens Industri, Sven Carlsson and Jonas Leijonhufvud (English).
- A compact introduction for getting startup financing in Sweden (English).
- How the digital identification "Bank-ID" emerged with little or no public debate at all and became Sweden's probably most important mobile app (English).
- In a new comprehensive index ranking 54 countries in regards to AI progress, Sweden ranks on position 20, while the US is leading by a wide margin (English).
- Greta Thunberg is TIME’s 2019 Person of the Year, and the youngest individual ever to be named TIME’s Person of the Year (English).
- For the first time, a deported engineer sues Sweden over work permit rejections (English).
- How the Swedish dairy lobby is fighting alternative milks, like Oatly (English).
- The city of Växjö says no to a proposal for a "human hamster wheel" connected to the electrical grid (Swedish, machine translation).
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