Welcome to Swedish Tech Weekly issue #124.
Bringing you the latest from Sweden's tech and startup industry.
If this email has been forwarded to you, you can sign up for free at swedishtechweekly.com.
+++ Sponsor message +++
Looking for someone to help you out with M&A, core corporate or commercial law? Stockholm-based Qap Legal is ready for you with some smoking hot legal advice – for the startups, for the scaleups, for the entrepreneurs. For the go-getters! Learn more here.
News from Swedish startups and the tech sector
- Stockeld Dreamery (Stockholm, maker of plant-based cheese): €16.5M ($20M) in a Series A round co-led by Astanor Ventures and Northzone, with participation from Gullspång Re:food, Eurazeo, Norrsken VC, Edastra, Trellis Road and angel investors (English, Swedish).
- Stravito (Stockholm, enterprise search engine software for market knowledge):€12.4M ($14.7M) in a Series A round led by Endeit Capital, with additional investment from existing investors HenQ, Inventure and Creades (English, Swedish).
- YouCruit (Malmö, job marketplace for American truck drivers): SEK100M (€10M, $11.6M) from Coeli, Skabholmen Invest, Viarp Invest, Djäkne Startup Studio, Primas Invest, Klier Invest and angel investors (English, Swedish / DI Digital paywall).
- Metry (Gothenburg, energy data platform to help building owners become more energy efficient): SEK32M (€3.2M, $3.7M) in a funding round led by Fairpoint Capital, with participation from existing investor Chalmers Ventures (English, Swedish).
- Gofido (Stockholm, insurance startup): SEK30M (€3M, $3.5M) from Jula Holding (English, Swedish).
- Inex One (Stockholm, expert network marketplace): SEK27 (€2.7M, $3M) from J12 Ventures and existing investors, for the continued expansion with emphasis on the US market (English, Swedish).
- Syd (Stockholm, subscription service for organic period care products): SEK10M (€1M, $1.2M) in a funding round led by Schibsted, with participation from existing investors (English, Swedish).
- STORViX (Lund, provider of data storage services): SEK7M (€700K, $930K) from Almi Invest, Quinary Invest, Giscom and angel investors (English, Swedish).
- Warpin (Stockholm, VR/AR/MR solutions provider for bands): €600K ($700K) from angel investors (English).
- dingdong (Stockholm, online supermarket with delivery in 10 minutes): SEK3M (€300K, $350K) from angel investors (English, Swedish).
- CredPoint (Stockholm, solution for real-time credit checks): undisclosed amount from former Swedish prime minister Fredrik Reinfeldt (Swedish, machine translation).
- Swedish VC firm EQT Ventures co-led a $20M funding round raised by German vector design tool Vectornator (English).
- Swedish climate VC firm Pale Blue Dot led a $2M funding round raised by US-based startup Sphere, which offers financial products for employers to invest their 401(k) in fossil-free options (English).
- Ingka Group, the owner of IKEA, invests $22.5M in Israel-based white label buy now, pay later player Jifiti (English, Swedish).
- Volvo Group Venture Capital invests an undisclosed amount in Israel-based startup Foretellix, creator of a platform for verifying automated driving systems' safety (English).
This issue of Swedish Tech Weekly has been sent to 943 subscribers. That's 6 more than last issue. If you enjoy this newsletter, please tell a friend, colleague or business partner about it! Forward this email, recommend swedishtechweekly.com on Slack/your team app of choice, or like/retweet this tweet. Or this tweet. Thank you!
- Airmee, Stockholm-based last-mile delivery startup, might be in the process of securing a significant investment from Amazon. Though it's only speculation at this point (Swedish / DI Digital paywall, Swedish #2, machine translation).
- Stockholm-based electric motocycle startup CAKE launches the Makka, a $3,500 electric moped for city riding (English).
- Shewy, Swedish subscription service for functional sugar free chewing gum, plans to launch in China later this year (Swedish, machine translation).
- Swedish entrepreneur Ali Ghodsi co-founded and leads the US-based enterprise software company Databricks, which just raised a whopping $1.6B Series H funding round, at a valuation of $38 billion (English, Swedish / DI Digital paywall).
- Dance, the Berlin-based startup co-founded by the former SoundCloud founders Eric Quidenus-Wahlforss and Alexander Ljung, launched its e-bike subscription service in the German capital (English).
- Fraudsters tricked the Swedish Tax Agency and banks and stole around SEK25M (€2.5M, $3M) from several Swedish entrepreneurs, among them Spotify co-founder Martin Lorentzon and Minecraft creator Markus "Notch" Persson (Swedish, machine translation).
- A gap has appeared at the pre-seed stage in Europe, especially for first time founders and founders that aren't part of the well-connected networks, laments Melinda Elmborg, Co-Lead at the Fast Track Malmö accelerator and former VC (English).
Other interesting things
- Svensk Plaståtervinning is creating the "largest and most modern plastic recycling plant in the world" (English, Swedish).
- Abba announced their first studio album for 40 years (English).
- The Swedish Embassy in Tokyo seeks a Science and Innovation Adviser for a fulltime position, starting as soon as possible (English).
- A majority of the people in Sweden who were affected by Covid-19 think the country's restrictions should have been stricter (English).
For any feedback or comments, just hit reply.