Welcome to Swedish Tech Weekly issue #9.
Here is the latest from Sweden's tech and startup industry.
- Stockholm-based music streaming company Spotify announced the acquisition of the two New York-based podcasting companies Gimlet Media and Anchor. The purchase price for Gimlet is reported to be around $230M. Spotify CEO Daniel Ek said he plans to spend up to $500M on acquisitions this year. VC firm Betaworks which invested in both startups, sees a "third wave of podcasting".
- Stockholm-based audiobook subscription startup Storytel as acquired the subscription service for newspapers, children books and magazines Ztory, based in Karlstad. Terms were not disclosed (in English, in Swedish).
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- Stockholm-based fintech Tink has closed a financing round of €56M, led by Insight Venture Partners and also including existing backers Sunstone, SEB, Nordea Ventures and ABN AMRO Digital Impact Fund. The company wants to become the "AWS of the banking sector" (in English, in Swedish).
- Malmö-based startup Covr Security has raised SEK25M (€2.4M) from various angel investors for its mobile security management platform (in Swedish).
- Stockholm-based startup Regily, which develops registration flows for online services, has raised SEK20M (€1.9M) from the investment collective "A Group Of Friends" (in English, in Swedish).
- Lund-based electrical car startup Uniti secured £1,4M (€1.6M) in a crowdfunding round. The company says it has more than 3000 pre-orders for its electrical vehicle (in English, in Swedish).
- Kopparberg-based mobile virtual network operator (MVNO) Mybeat raised SEK8M (€767K) from Almi invest and others (in English, in Swedish).
- Stockholm-based startup Ztable, which offers an app for horse riders to track and share their passion, has raised SEK5M (€480K) from Almi Invest and angel investors (in English, in Swedish).
- Stockholm-based startup Grace Health which develops a mobile-based solution for women to monitor fertility and well-being has raised SEK4M (€384K) from Almi Invest and various angel investors (in English, in Swedish).
- Stockholm-based startup Care to Translate, which develops a medical translation app for healthcare professionals, secured SEK3.5M (€334K) from different business angels (in English, in Swedish).
- Rebelbirdz, a Stockholm-based startup providing a subscription service for beauty products, raised an undisclosed amount of funding from various angel investors (in English, in Swedish).
News from startups and the tech scene
Other news and interesting things to read
- Profile of Stockholm-based startup Sana Labs, which uses machine learning to personalise online education.
- After having raised the equivalent of more than €30M, Malmö-based startup Anima, creator of the hybrid smartwatch brand Kronaby, filed for bankruptcy (in Swedish, machine translation).
- Spotify’s report of quarterly earnings showed a first-ever operating profit.
- Stockholm-based digital music distribution startup Amuse is launching a predictive machine learning-based feature to allow artists to get paid up to six months’ royalties in advance.
- Gothenburg-based startup Equilab, which operates a tracking app for riders who want to achieve goals with their hores and currently has more than 350,000 users across Europe, is expanding to the United States (in English, in Swedish).
- Fredrik Hjelm, CEO of Swedish e-scooter startup Voi, writes in a comment in the UK-based Evening Standard that his company will only launch in London once it'll have official permission from the authorities.
- The Swedish Tax Agency is going after King, the maker of Candy Crush Saga, for SEK3.6B (€346M) that the agency says Sweden has missed out on. King disagrees.
- Stockholm-based media company The Local, Europe's largest English-language news network, is putting more editorial weight and business focus on continental Europe (in Swedish, machine translation).
- Helsingborg-based Quickbutik, provider of an e-commerce platform, says it's growing rapidly thanks to the upcoming closure of Stockholm-based competitor Tictail, which was bought by Canadian industry leader Shopify (in Swedish, machine translation).
- 25 years ago, Carl Bildt, Sweden's Prime Minister at that time, sent an email to Bill Clinton. That was the day when the Internet really came to Sweden (in Swedish, machine translation).
- A list of 13 Swedish companies in the field of self-driving cars (in Swedish, DI Digital paywall).
- An updated list of Swedish crowdfunding successes, ranked by funding amount (in Swedish, machine translation).
- YouTube has launched its kids app in Sweden (in Swedish, machine translation).
- Back in 2017, the story of the Pakistani software developer Tayyab Shabab who was facing deportation from Sweden due to an administrative slip-up by a previous employer, received lots of media attention. Today he lives and works in Berlin and says he's happy (in Swedish, machine translation).
- Which tech tools do European VCs use to get their work done? Here are the results of a survey. Spreadsheets remain hot.
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