Welcome to Swedish Tech Weekly issue #85.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers and acquisitions
- Spotify (Stockholm, music and podcast company) has acquired podcast hosting and ad company Megaphone for $235M (English). The deal "sets Spotify up to become a force in podcast ad sales" (English).
- Pointsharp (Stockholm, security products for secure login and mobile solutions) has sold a majority stake to European private equity firm Main Capital. The amount was not disclosed (English).
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- Nextory (Stockholm, audiobook and e-book subscription service): SEK 165M (€16M, $19M) from CNI, Erik Selin and existing investors (Swedish, machine translation).
- Covr Security (Malmö, mobile security management platform): SEK20.7M (€2.M, $2.4M) from undisclosed investors (English, Swedish).
- Yaytrade (Stockholm, second hand marketplace for fashion and lifestyle products): SEK16M (€1.6M, $1.8M) from undisclosed investors (Swedish, machine translation).
- Xertified (Uppsala, security solutions for a safer IoT): SEK10M (€970K, $1.2M) from Karolina Ventures, Almi and angel investors (English, Swedish).
- Hailey HR (Stockholm, SaaS HR solution): SEK6M (€600K, $690K) from angel investors (English, Swedish).
- Swedish VC firm EQT Ventures led a funding round raised by UK-based Banking-as-a-Service provider Griffin (English).
- Swedish early-stage investment firm Trellis Road has invested an undisclosed amount in HERO Protein, a Shanghai-based startup creating plant-based meat alternatives for the Chinese market (English).
News from Swedish startups and the tech sector
Other interesting things
- Mobile connectivity specialist Radio Innovation has been accepted by the Facebook Accelerator: Connectivity program, as first Swedish company (English, Swedish).
- Podcast company Acast is teaming up with Patreon for paywalled podcast distribution (English, Swedish).
- Payments provider Klarna integrates Sweden's dominant p2p payment app Swish into its e-commerce checkout (Swedish, machine translation).
- Mikael Bramstedt, one of the architects of Swish, is now dedicating himself to blockchain technology, machine translation).
- Memmo, Stockholm-based provider of personalised greeting messages from celebrities, has launched in the UK (English).
- VOI tests e-scooters with built-in pedestrian detection (English) and integrates with smart helmet Newton-Rider (English).
- Yepstr, Stockholm-based gig worker marketplace for household chores, plans to give temporary work contracts to 5,500 people between 15-24 (Swedish / DI paywall).
- Co-founder of Stockholm-based crowdfunding platform Fundedbyme Daniel Daboczys resigns as CEO. Anders Sahlgren will be his successor (Swedish, machine translation).
- Stockholm is among the top 5 global hubs for VC investment into "impact tech", according to a new report. (English).
- Extensive feature article about Swedish angel investor and former global marketing director at Spotify, Sophia Bendz (English).
- Sweden halts 5G spectrum auctions after a court suspended parts of its decision that had excluded Chinese telecom equipment maker Huawei (English).
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