Swedish Tech Weekly is back! Welcome to issue #84 – bringing you the latest from Sweden's tech and startup industry.
Thank you for all the amazing, supportive emails I got from you when I announced my stress-related break 3 months ago. Those helped me a lot, particularly during the toughest moments. I'm still recovering but now slowly scaling up. For the time being, I don't want to promise an exact weekly schedule or a specific day, but we'll see how it goes. I'm certainly looking forward to create this curation again!
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Mergers and acquisitions
- Klarna (Stockholm, payments providers) has acquired Woilà, Stockholm-based maker of an app that helps consumers to save money in their everyday life. The price was not disclosed. Following the deal, the Woilá app has been shut down (English, Swedish / DI Digital paywall).
- IFS (Linköping, enterprise software company) has acquired Clevest Solutions, a Canadian software provider in the utilities sector. Financial details were not disclosed (English).
- Quinyx (Stockholm, provider of workforce management solutions) is acquiring Dutch AI workforce optimization company Widget Brain. The price was not disclosed (English, Swedish).
- Footway (Stockholm, online shoe retailer), has acquired the Stockholm-based online streetwear store Caliroots. The financial details of the transaction were not disclosed (English, Swedish).
- Infobric (Jönköping, developer of software solutions for construction works), has acquired 2 Swedish startups within the same industry, BuildSafe and Equipmentloop. Financial details were not disclosed (Swedish, machine translation).
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- Nilar (Gävle, energy storage): €47M as a loan from the European Investment Bank (EIB) (English).
- InRiver (Malmö, product information management solution for businesses): SEK285M (€27M, $32M) from Lugard Road Capital with participation from existing investors Verdane, Industrifonden, Zobito, and RoosGruppen (English, Swedish).
- Brite (Stockholm, payment solutions based on direct bank-to-bank technology): SEK60M (€5.8M, $6.8M) from A Group of Friends (English, Swedish / DI Digital paywall).
- Orbital Systems (Malmö, water-saving recirculating solution for showers): SEK50M (€4.9M, $5.8M) from Investment AB Öresund and others (English, Swedish).
- Nortical (Gothenburg, maker of analytics software for battery data): SEK12M (€1.2M, $1.4M) from Norrsken VC, Almi Invest, E14 Invest and Jellyfish Invest (English, Swedish).
- Holm Security (Stockholm, automated and continuous vulnerability assessment solutions): SEK11M (€1.1M, $1.3M) from existing and new undisclosed investors (English, Swedish).
- Veat Foods (Stockholm, plant-based foods sold via vending machines): SEK5M (€490K, $580K) from Pale Blue Dot and others (English, Swedish).
- Homepal (Malmö, platform for real estate data management): SEK3M (€300K, $350K) from SF Ventures, Quinary Investment, Mist Ventures and existing investors (English, Swedish).
- Stepler (Karlstad, rewards app for walking): SEK2M (€200K, $230K) from angel investors (Swedish, machine translation).
- Ezeride (Trollhättan, carpooling app): undisclosed amount from Mekonomen Group (English, Swedish).
- Swedish VC firm EQT Ventures led a $12.7M Series A raised by Dutch CodeSandbox, creator of a prototyping and collaboration platform (English).
- Swedish VC firm eEquity led a $5.6M funding round raised by Danish startup Son of a Tailor, maker of an online platform taking on-demand orders for manufacturing customized t-shirt (English, Swedish).
News from Swedish startups and the tech sector
Other interesting things
- Mendi, Stockholm-based developer of a brain enhancement device for home use, announced having sold 10,000 devices through crowdfunding during the past 6 months, raising a total of SEK31M (€3M, $3.6M) (English, Swedish).
- Mendly, based in Stockholm, offers an app for chat-based, asynchronous cognitive behavioral therapy, iterating on the traditional model of weekly sessions (Swedish, machine translation).
- The Malmö-founded, Silicon-Valley based graph database firm Neo4j has raised $30M in fresh funding (Swedish / DI Digital paywall, Swedish #2, machine translation).
- Malmö-based startup incubator Minc is starting a new accelerator, targeting entrepreneurs within tourism (English).
- Amazon has finally launched its Swedish website (English).
- Spotify hits 320 million monthly active users (English).
- During 2019, companies in the Gothenburg area have – for the first time – invested more in research & development than their counterparts in Stockholm (Swedish / DN paywall).
- Swedish Brewery St. Eriks created the world's most expensive potato chips (English).
- IKEA opens its first pilot second-hand store in the Swedish city of Eskilstuna (English).
- Certain insects may now legally be sold as food in Sweden (Swedish, machine translation).
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