Welcome to Swedish Tech Weekly issue #60.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Swedish payment provider Klarna is acquiring Italian "buy now, pay later" company Moneymour. The amount was not disclosed (English)
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- Teamtailor (Stockholm, recruitment & talent marketing platform): SEK50M (€4.7M, $5.2M) from Sprints Capital (English, Swedish).
- Codemill (Umeå, SaaS-centric digital product and service studio): SEK30M (€2.8M, $3.1M) from Almi Invest, Norrlandsfonden and angel investors (Swedish, machine translation).
- Avy (Stockholm, SaaS solution for the rental industry): SEK20M (€1.7M, $2.1M) from undisclosed investors (English, Swedish).
- Ridely, formerly Ztable (Stockholm, app for horse riders to track and share their passion): SEK5M (€470K, $520K) from undisclosed investors, ahead of the expansion to the UK (Swedish, machine translation).
- Klimato (Stockholm, web app for the gastronomy industry to calculate and communicate CO2 emissions): SEK2.6M (€240K, $270K) from angel investors (English, Swedish).
- Swedish VC firm Creandum led a €4.3M funding rund raised by London-based startup Laka, which aims to transform the bicycle insurance industry (English).
News from Swedish startups and the tech sector
Other interesting things
- 29k, a non-profit co-owned by Norrsken Foundation and Ekskäret Foundation, has launched a mobile app described as "the world's first personal growth program" (Swedish, machine translation).
- Fodi, Stockholm-based creator of a hyperlocal online grocery store, has filed for bankruptcy (Swedish, machine translation).
- The Swedish incubator and accelerator Sting has admitted 17 new companies for its startup programs Sting Accelerate and Sting Incubate (English, Swedish).
- Berlin-based audio platform SoundCloud, which was launched by the two Swedes Alexander Ljung and Eric Wahlforss in 2007, received a $75M investment from audio entertainment giant SiriusXM Holdings, which also owns music streaming service Pandora (English).
- Spotify reportedly pays $250M for its acquisition of podcasting startup The Ringer which the company announced last week (English).
- Oxx, a VC firm headquartered in Stockholm and London, announced having raised €122.9M to back Europe’s most promising B2B SaaS companies from Series A and beyond (English).
- Podnami is a new Stockholm-made service highlighting the best technology podcast episodes.
- Ulobby, a Copenhagen-based maker of software for public affairs, expands to Sweden (English).
- GreenMobility, a Copenhagen-based free float car sharing solution, is launching in Malmö (English).
- After having fallen victim to a ransomware attack, Swedish technology trading group Addtech decided to build an entirely new IT system from scratch. Total cost caused by the incident: SEK150M (around $17M) (Swedish #1 / DI Digital paywall, Swedish #2, machine translation).
- After delays, the auction for distributing certain 5G frequencies to Swedish telecommunication providers is expected to take place in October 2020 (Swedish, machine translation).
- Swedish carmaker Volvo Cars and Chinese brand Geely Automobile are reportedly planning a merger. Both brands are owned by Geely Holding (English).
- In a blog post, Beata Klein, investment analyst at Swedish VC firm Creandum, highlights the potential of the menopause market (English).
- Personnel handling emergency calls in Sweden will now be supported by an AI system in assessing medical situations (Swedish, machine translation).
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