Welcome to Swedish Tech Weekly issue #50.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
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- Meds (Stockholm, online pharmacy): SEK150M (€14M, $15.5M) from existing and new investors (Swedish, machine translation).
- Snafu Records (Stockholm, AI-based record label): SEK27M (€2.5M, $2.8M) from Truesight Ventures and angel investors, among them Agnetha Fältskog, former member of ABBA (Swedish / DI Digital paywall).
- Material Exchange (Stockholm, online platform for apparel & footwear brands, material suppliers & manufacturers): $2M in a seed round led by Inventure (English).
- Fieldly (Malmö, project management tool for construction): SEK17M (€1.6M, $1.8M) from existing investors (English, Swedish)
- Kreditz (Stockholm, platform for letting consumers build their own credit score): undisclosed amount from Anna Storåkers (English, Swedish).
- Swedish bank SEB participated in a €9M funding round raised by Danish fintech Cardlay, which helps financial institutions and transaction providers with digitising commercial transactions (English).
News from Swedish startups and the tech sector
Other interesting things
- Volta Trucks, a startup founded in Stockholm this year, wants to build futuristic electric trucks and plans to unveil its first prototype vehicle at the start of summer 2020 (English).
- Favo, a cloud kitchen and food delivery startup headquartered in Borås, is launching in Stockholm this week. The company prepares meals itself at its own kitchen (which has no storefront) and uses its own delivery staff (Swedish, machine translation).
- Northzone, the Norway-founded, London-based VC firm that has a significant presence in Stockholm, raised a new $500M fund. Swedish Jessica Schultz, founder of German meal-kit company Hello Fresh, has been promoted to General Partner (English).
- Stockholm-based fintech Dreams has received a license from Swedish Financial Supervisory Authority that allows the startup to offer customers across Europe the ability to invest money in securities (Swedish, machine translation).
- Blok, a Finnish startup offering a digital real estate agent, has launched in Sweden, with Stockholm as its first market (Swedish, machine translation).
- Irland-based Code Institute, which offers coding bootcamps, is about to open an office in Stockholm in January 2020 (Swedish, machine translation).
- iZettle, the Stockholm-based, PayPal-owned payments provider for small businesses, has released "the world’s first card reader made of recycled ocean plastic" (English).
- Matsmart, the Stockholm-based online store selling surplus production and overstocks, is launching in Denmark under the name Motatos (Swedish, machine translation).
- How the Stockholm-based incubator and accelerator Sting manages to recruit an above-average proportion of women for the companies under its wings, according to the firm's Head of Talent Raman Ramalingam (English).
- A new extensive report from MasterCard, the Index of Women Entrepreneurs 2019, paints a very bleak picture of women entrepreneurship in Sweden in a global context, with the country dropping significantly in various metrics and showing a sharp widening in gender gap for entrepreneurial activity rate (English / press release, English / report as PDF).
- As VC firms from the US are flocking to Europe, Danish investor Christian Jantzen sees a "great battle for Europe" and challenges for local firms (English / browser private mode might be necessary to access)
- The auction for distributing certain 5G frequencies to Swedish telecommunication providers will not happen as initially planned during Q1 2020, due to the ongoing evaluation of a draft law to boost security requirements on telecom operators seeking to roll out 5G (Swedish, machine translation).
- 3 Nordic universities are launching the world’s first international master’s programme specialising in Nordic urban planning (English).
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