Welcome to Swedish Tech Weekly issue #66.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Sinch, the Stockholm-based communications platform for mobile engagement, has acquired Belgian conversational artificial intelligence developer Chatlayer.ai, for €6.9M ($7.6M) (English).
News from Swedish startups and the tech sector
- Northvolt (Stockholm, energy storage): SEK159M (€15M, $16M) from the Swedish Environmental Protection Agency (Swedish, machine translation).
- Nextory (Stockholm, audiobook and e-book subscription service): SEK60M (€5.6M, $6.2M) from existing investors including Industrifonden, LK Finans AB, ACACIA and Frescano Group (English, Swedish).
- Cognibotics (Lund, developer of robotics software): SEK40M (€3.7M, $4.1M) from Fairpoint Capital and Tibia Invest (Swedish, machine translation).
- Kundos (Stockholm, provider of digital customer service tools): SEK28M (€2.6M, $2.9M) from Standout Capital (English, Swedish).
- Ingrid (Stockholm, SaaS solution for e-commerce shipping providers): SEK12.5M (€1.2M, $1.3M) from Blq Invest (English, Swedish).
- Swedish VC firm Creandum led a €11M Series A funding round raised by German startup Twaice, maker of predictive battery analytics software (English).
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- Video-based healthcare provider Kry has launched Care Connect, a free solution which allows any European healthcare professional to have video calls with their patients (English).
- VOI is suspending its e-scooter operations in all but nine key cities, due to the coronavirus pandemic (English).
- Orbital Systems, Malmö-based maker of "the world’s first recirculating shower system", is starting to sell directly to consumers (Swedish / DI Digital paywall).
- Ticmate, a Stockholm-based company offering tickets online to events and attractions, has been forced to file for reconstruction, after sales dropped with 99 percent (Swedish, machine translation).
- GigsGuide, a Malmö-based platform to find music events, added "virtual concerts" (English).
- Almi, the state-owned business developer and investment firm, receives SEK3B in additional funds to support startups and other small and medium-sized companies (Swedish, machine translation).
- VC firms Creandum, EQT Ventures and Northzone say they'll continue to invest even during the coronavirus crisis (Swedish / DI Digital paywall).
Other interesting things
- Podcast interview on fundraising and startup trends during the coronavirus crisis, with the Nordic VCs Ashley Lundström (EQT Ventures), Jimmy Fussing Nielsen (Heartcore Capital) and Ilkka Kivimäki (Maki.vc) (English, 40 minutes).
- Your Local Hero, a Malmö-based non-profit project, allows restaurants to sell gift cards to customers to be used once the coronavirus crisis is over (Swedish).
- The Swedish government is investing up to SEK300B to support the business sector. Here is a list of the most important measures for employers and entrepreneurs (English).
- Volvo’s Polestar begins production of the all-electric Polestar 2 in China (English).
- Meanwhile, Porsche is starting to sell its first electrical vehicle Taycan online in Sweden (Swedish, machine translation).
- Swedish municipalities test AI to drive efficiencies and cost savings (English).
- Global heating helps Sweden's vineyards to success (English).
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Take care and stay healthy everyone!