Welcome to Swedish Tech Weekly issue #112.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Sinch (Stockholm, communications platform for mobile engagement) acquired Australia-based MessageMedia, a provider of messaging services for small and medium-sized businesses, for $1.3B (English, Swedish).
- ZignSec (Stockholm, all-in-one ID verification platform) acquired UK-based Web Shield, provider of on-boarding and monitoring solutions for banks and payment services, for up to €28M ($34M) (English).
- PodMe (Stockholm, subscription service for premium podcasts) has sold 91 percent of the shares to Norwegian media company Schibsted, which already was an investor in the startup. Financials were not disclosed (English, Swedish).
News from Swedish startups and the tech sector
- Northvolt (Stockholm, maker of sustainable batteries): $2.75B in a financing round co-led by Swedish pension funds AP1, AP2, AP3, AP4, and OMERS Capital Markets alongside existing investors Goldman Sachs Asset Management and Volkswagen Group (English, Swedish).
- Klarna (Stockholm, payments and shopping provider): $639M in a funding round led by SoftBank’s Vision Fund 2 with participation from existing investors, at a post-money valuation of $45.6B (English, Swedish).
- MATCHi (Gothenburg, booking platform for racket sports): reportedly up to SEK200M (€20M, $24M) from Verdane and Sprints Capital, to support the global expansion (Swedish / DI Digital paywall, Swedish #2, machine translation).
- MediCheck (Stockholm, digital healthcare provider for patients with chronic conditions): SEK35M (€3.5M, $4.2M) from undisclosed investors (Swedish / DI Digital paywall).
- Spotin (Luleå, service which enables media outlets to sell products mentioned in editorial content alongside the content): SEK15M (€1.5M, $1.8M) from North Islet and angel investors (English, Swedish).
- Suturion (Lund, medical manufacturer of a post-surgery sewing machine): SEK14M (€1.4M, $1.7M) from Almi Invest and angel investors (English, Swedish).
- Flarie (Stockholm, platform for brands to create "advergaming"): SEK10.7M (€1.1M, $1.3M) from the Dafgård family and existing investors (English, Swedish).
- Lassie (Stockholm, digital insurance services for pet owners): SEK5M (€500K, $600K) from angel investors (English, Swedish).
- Aqua Robur Technologies (Gothenburg, IoT solutions for water networks): undisclosed amount from Latour Future Solutions, Chalmers Ventures and Almi Invest (English, Swedish).
- Boxbollen (Stockholm, smart fitness toy): undisclosed amount from angel investors (Swedish, machine translation).
- Swedish VC firm EQT Ventures led a €50M ($61M) Series A financing round raised by Danish B2B2C coaching platform for health and fitness professionals Lenus (English).
- Swedish investment firm Kinnevik led a €12M ($14.5M) Series A financing round raised by Danish guest experience management platform Superb (English).
This issue of Swedish Tech Weekly has been sent to 843 subscribers. That's 136 more than last issue.
- Yubico, Stockholm- and Palo Alto-based provider of secure login solutions, is seeing high demand due to the growing number and severity of cyber attacks. According to CEO and founder Stina Ehrensvärd, the company won't have to raise more funding (Swedish, machine translation).
- Volumental, the Stockholm-based developer of 3D foot scanning technology, has launched a mobile scanning app for retailers, based on data from retail store foot scans of 10 million people (Swedish, machine translation).
- RevolutionRace, a Borås-based e-commerce company for outdoor clothing, will go public this week in Stockholm at a valuation of SEK8.5B (€850M, $1B) (Swedish, machine translation).
- Justic is a new self-funded startup founded by Evelina Anttila and Azra Osmancevic offering digital lawyer services for private individuals (Swedish, machine translation).
- Swedish startup Billboat launches its first floating billboard in the waters around central Stockholm this week (Swedish, machine translation).
- Stockholm-based PocketLaw, which offers digital lawyer services for businesses, enters the UK market (English).
- Seeqest, a Stockholm-based startup offering an app to increase transparency around pension fund investments, has filed for bankruptcy (Swedish, machine translation).
- Personal data of certain customers of Swedish finance app Avanza was leaked to Facebook for more than a year (Swedish, machine translation).
- Steady Health, provider of digital diabetes care co-founded in San Francisco by the Swedes Henrik Berggren and Björn Hansell, has been acquired by the US healthcare company Carbon Health (English).
- Interview with Jakob Dworsky, co-founder of Stockholm-based essential men's fashion and e-commerce company Asket, on the problem with "sustainability," recycled plastic fabrics and shopping our way out of problems (English).
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Other interesting things
- Karolinska University Hospital in Stockholm is the "best smart hospital" outside the US, according to a ranking by Newsweek (English, Swedish).
- The Swedish Post and Telecom Authority (PTS) faces criticism for a proposal to move physical mailboxes up to 200 meters away from people's homes (Swedish, machine translation).
- Europe is now a corporate also-ran. Can it recover its footing? (English / Economist paywall, alternative URL).
- I was planning to take this week off from the newsletter, but I changed my mind – lots of news, and lots of new subscribers. Remarkable what one comment on Hacker News can do. Welcome everybody who just signed up!
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