Welcome to Swedish Tech Weekly issue #62.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Embracer, the Karlstad-based game company, acquired French music game studio Voxler through its subsidiary Koch Media. The amount was not disclosed (English).
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- Storytel (Stockholm, subscription service for audiobooks): SEK948M (€88M, $98M) through a directed share issue (English, Swedish).
- Min Doktor (Malmö, video-based healthcare): SEK76M (€7M, $7.8M) as convertible debt from existing owners (English, Swedish #1 / DI Digital paywall, Swedish #2).
- Colive (Stockholm, creator of co-living solutions): SEK40M (€3.7M, $4.1M) from Wallenstam and others (English, Swedish).
- Graphmatech (Uppsala, solving industrial and battery problems with graphene): SEK20M (€1.9M, $2.1M) from existing investors such as ABB Technology Ventures, Inno Energy and Walerud Ventures (English, Swedish).
- Telness (Stockholm, mobile operator for entrepreneurs and businesses): SEK16M (€1.5M, $1.6M) from angel investors (English, Swedish).
- We Are Voice (Stockholm, app for choir singers): SEK10M (€930K, $1M) from Bonnier Ventures and Provider Investment (English, Swedish).
- AlgoDx (Stockholm, AI-powered disease detection and prediction): €600K ($660K) in a seed round led by Nascent Invest, with participation from angel investors (English).
- Econans (Gothenburg, digital financial forecast service): SEK5M (€4.7M, $5.1M) from existing investors Almi Invest and Gokap (English, Swedish).
- Boappa (Stockholm, app for residential property communication): SEK4M (€372K, $410K) from angel investors (Swedish, machine translation).
News from Swedish startups and the tech sector
Other interesting things
- Not 1 but 2 lists with 100+ Swedish startups to watch in 2020: from Sifted and Seedtable.
- Payments provider Klarna is giving up on ambitions to become more like a bank (Swedish / SvD digital paywall).
- The city of Skövde, in central Sweden, has emerged as a cluster for game development, with Goat Simulator being its probably most famous global game export (Swedish, machine translation).
- Acast is launching a global marketplace for buying ads, sponsorships and branded content in podcasts (English, Swedish).
- Telia Ventures, the venture capital arm of Stockholm-headquartered telecom company Telia, is using the profit Telia made from an investment in Spotify, to invest in 4-6 startups a year (Swedish / DI Digital paywall).
- Profile story about Susanne Najafi, who in 2016 together with Sara Wimmercranz created Backing Minds, the first female-founded venture capital firm in the Nordic countries (English).
- For a first funding round, "don't raise capital from the people with money, but rather raise competence from the people with skills and have the money be secondary", writes Julia Delin, CEO of the venture incubator of Stockholm School of Economics (English).
- Sweden's central bank is about to launch its e-krona digital currency. The pilot will not involve any banks or end-users; everything will be simulated within the central bank’s closed network through February 2021 (English).
- The Swedish parliament approved a law which gives police under certain circumstances the right to infect a suspect's devices with special trojan software to monitor communication (Swedish, machine translation).
- How Stockholm's public transport organization SL is creating its new ticketing system, one that aims to put ease of use at its core (English).
- Swedish energy company Vattenfall made a crib for a baby in a fully fossil-free way: it cost $28,885 (English).
- Sweden’s population grew by a million in the last ten years, to 10.3M on New Year’s Eve 2019/2020 (English).
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