Welcome to Swedish Tech Weekly issue #11, sent today to 146 verified subscribers.
A special welcome to the more than 30 of you who saw my comment on Hacker News and signed up :)
Here is the latest from Sweden's tech and startup industry.
Acquisitions & exits
- The Stockholm-based smart home and cleantech startup Watty is reportedly in the process to be sold to the German rival Discovergy. Watty founder Hjalmar Nilsonne is confirmed to have left the company (in English, in Swedish).
- Stockholm-based ProOpti, a leading Nordic software provider in the telecom sector, has been acquired by Canadian enterprise software provider Enghouse Systems. Terms were not disclosed (in English, in Swedish).
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- Stockholm-based Bynk, a fintech startup currently focused on providing unsecured financial loans, raised SEK500M (€47.3M) in a financing round from existing investors Schibsted and LMK to become an "European mobile bank" (in English, in Swedish). See also my short take on the fact that Swedish fintechs finally are jumping on the Neobank bandwagon.
- Stockholm-based online grocery store MatHem has raised SEK400M (€37.9M) in fresh capital from Kinnevik. With an additional purchase of secondary shares worth SEK500M (€47.3M), the investment firm increases its stake in Mathem to 38 % (in English, in Swedish).
- Uppsala-based digital sound specialist Dirac has raised a new SEK119M (€11.3M) round of financing led by existing investors (in English, in Swedish).
- Sundsvall-based startup Leeroy, which provides software solutions for the restaurant industry, has raised SEK44M (€4.2M) in an investment round led by Zenith Group and Collector Ventures (in English, in Swedish).
- Stockholm-based e-commerce intelligence startup Detail Online has received SEK30M (€2.9M) in fresh funding from Industrifonden and Acacia (in Swedish, no machine translation available).
- Stockholm-based startup Gimi, which offers an app for children to learn how to use and save money, has raised SEK16M (€1.5M) from Collector Ventures and angel investors (in English, in Swedish).
- Leasecloud, a Stockholm-based startup attempting to digitize the leasing industry, secured SEK16M (€1.5M) in a funding round led by Spintop Ventures (in English, in Swedish).
News from startups and the tech scene
Other news and interesting things to read
- An additional detail about Spotify's recently announced acquisition of the two podcast firms Gimlet and Anchor: The Stockholm-based music streaming giant confirmed that it spent about $340M for both firms.
- 7 out of 8 startups that were accepted to Fast Track Malmö's accelerator program have at least one female co-founder, 3 have a woman as CEO (in English, in Swedish).
- Olle Aronsson, co-founder and publisher of Swedish tech news site Breakit, on the media startup's financial performance, his emotional state when revenue isn't growing as expected, and the plan to get to break-even (in Swedish, machine translation).
- Following up last week's mention of Karma and Danish competitor Too Good To Go, here is a piece on the growing business of reducing food waste.
- Interview in Rwanda's "The New Times" newspaper with Truecaller's Zakaria Abdulkadir Hersi on what the Stockholm-based app startup – which just crossed the milestone of 100 million active users in India – is up to in Africa.
- 3 million out of 10 million people living in Sweden are nowadays receiving most of their official mailings in digital instead of paper form, via Stockholm-based Kivra, the leading company in this sector (in Swedish, machine translation).
- Barack Obama is scheduled to appear at the invite-only tech conference Brilliant Minds which will take place in Stockholm in June (in English, in Swedish)
- A handy list: 100 Stockholm-based startups to watch in 2019.
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