Welcome to Swedish Tech Weekly issue #136.
Bringing you the latest from Sweden's tech and startup industry.
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I'm launching an optional paid subscription plan for Swedish Tech Weekly called "Early Access".
For $12/month, Early Access subscribers receive each new issue of Swedish Tech Weekly on Sundays no later than around noon (CET), while going forward, free subscribers will receive new issues on Monday mornings.
If you enjoy browsing through Swedish Tech Weekly in a relaxed weekend setting, or if you would like to support me in my work with this newsletter, the Early Access plan is for you! Of course you can cancel any time.
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Mergers & acquisitions
- Ericsson (Stockholm, networking and telecommunications company) is acquiring the US-based cloud communications company Vonage for $6.2B (English).
- Etraveli Group (Uppsala, technology provider for and operator of online flight booking brands) is being acquired by online travel agency Booking Holdings, for about €1.63B ($1.83B) (English, Swedish).
- Adprofit (Stockholm, B2B digital marketing platform) was acquired by Stockholm-based media tech holding company Vo2 Cap for SEK46M (€4.6M, $5M), plus conditional earn-out of SEK24M (Swedish). Adprofit founder Louise Fritjofsson writes about her learnings after 14 years of bootstrapping (English).
- AddSecure (Stockholm, provider of secure IoT connectivity solutions) acquires LOSTnFOUND, a Swiss-based provider of location tracking and fleet management solutions. Financial terms were not disclosed (English, Swedish).
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- DBT (Stockholm, financing provider for SMEs): SEK200M (€20M, $22M) in a funding round led by Öresund (English, Swedish).
- Centra (Stockholm, headless e‑commerce SaaS solution for D2C and digital wholesale operations): SEK100M (€10M, $11M) from Verdane (English, Swedish).
- Urb-it (Stockholm, sustainable logistics platform): SEK95M (€9.5M, $10.5M) through a directed share issue from IKEA-owned Ingka Investments (English, Swedish).
- Younium (Stockholm, SaaS solution for B2B subscription management and billing): SEK34M (€3.4M, $3.7M) from Partinc Capital (English, Swedish).
- Turnpike (Stockholm, wearable platform to provide data for managers and front-line staff): SEK23M (€2.3M, $2.5M) from angel investors (Swedish / DI Digital paywall).
- Ahum (Stockholm, online marketplace for therapists): SEK18M (€1.8M, $2M) from new and existing angel investors (English, Swedish).
- Näktergal (Stockholm, provider of a digital lending system for challenger companies in the mortgage sector): SEK10M (€1M, $1.1M) in a funding round led by Katalysen & Partners, with participation from angel investors, for the expansion into Germany (English, Swedish).
- EaTable (Stockholm, ghost kitchen provider): SEK7.4M (€740K, $800K) from angel investors (Swedish, machine translation).
- Swedish VC firm Creandum co-led a $15.5M seed round raised by German multicultural grocery delivery service Yababa (English).
- Volvo Cars Tech Fund invests $2M in Israel-based optics and imaging startup Spectralics (English).
News from Swedish startups and the tech sector
Other interesting things
- Eyescanner Technology, Gothenburg-based developer of an AI-based software for drug testing, founded by Stefanie Najafi and Jenny Johansson, won DI Digital's Female Founders 2021 startup pitch (Swedish, machine translation).
- Sana Alajmovic of Sigrid Therapeutics won the reader vote for "most important female founder" (Swedish, machine translation). Nora Bavey, General Partner at Unconventional Ventures, won the reader vote for "most important female investor" (Swedish, machine translation).
- Legitify, a startup founded by Aida Lutaj and Arko Ganguli based in Stockholm and Dublin, offers what it says is "Europe’s first remote online notarization (RON) service" (English).
- Peter Carlsson, the founder and current CEO of Northvolt, likes to keep busy. In 2015 he also co-founded another Swedish startup called Turnpike, which has created a wearable platform for front-line staff (Swedish / DI Digital paywall).
- Sweden has surpassed the UK and Germany to become the top European ecosystem by VC money invested in impact startups (English).
- Space, Stockholm's new hub for digital culture and "the world’s largest gaming center, with over 400 gaming setups", has opened its doors (Swedish, machine translation).
- Adele got Spotify to take shuffle button off all album pages (English).
- Swedish VC firm Creandum launches a London office (English).
- Tech investors can’t get enough of Europe’s fizzing startup scene (English / Economist paywall, alternative URL).
- Wanted: 100,000 pioneers for a green jobs Klondike in the North of Sweden (English).
- IKEA Japan is renting a tiny apartment in Tokyo for just $1 per month (English)
Just one more word about the new Early Access subscription for those of you who are interested in the details and process: I have looked into several platforms that allow for running a membership and subscription offering, and I chose the hosted version of open source platform Ghost.
It has its limits when it comes to customization, but comes very near to what I want. And unlike Patreon and others, it doesn't take any revenue cut. I will pay a monthly fee of $9 for the "Starter" plan, and other than that, there'll only be the Stripe payment fees.
We'll see how things will play out, but for the moment, it looks like a sufficient solution. The actual delivery of the newsletter will keep happening through Mailchimp, at least for now.
Thank you again for your support!
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