Welcome to Swedish Tech Weekly issue #114.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Tink (Stockholm, open banking provider) is being acquired by payments giant Visa for €1.8B ($2.1B). Tink will continue to operate as its own brand and no management team changes are slated (English, Swedish).
- FundedByMe (Stockholm, crowdfunding platform) plans to merge with Pepins, Stockholm-based fundraising platform for scale-ups (Swedish, machine translation).
- Senion (Linköping, indoor positioning platform) has been acquired by US telecommunications giant Verizon. The price was not disclosed (English, Swedish).
- Telavox (Malmö, provider of unified communications solutions) acquired ALLOcloud, a provider of advanced cloud communications and collaboration solutions in Belgium and France. The price was not disclosed (English, Swedish).
News from Swedish startups and the tech sector
- Majority (Stockholm & Houston, all-in-one mobile banking for migrants in the US): $19M in a seed funding round led by Valar Ventures with participation from Avid Ventures, Heartcore Capital and "several prominent Nordic fintech unicorn founders" (English).
- Gordon Delivery (Stockholm, smart urban logistics provider for food home deliveries): SEK150M (€15M, $18M) in a funding round led by Eequity, with participation from new and existing investors (Swedish, machine translation).
- Doctrin (Stockholm, platform for helping healthcare providers to digitalise the patient journey): SEK134M (€13.4M, $16M) in a funding round led by existing investors HealthCap, Swedbank Robur and Capio (English, Swedish / DI Digital paywall, Swedish #2).
- NuvoAir (Stockholm & Boston, technology to make respiratory diseases measurable and more treatable): $12M in a Series A funding round led by AlbionVC, with participation from KAYA, Amino Collective and existing investors (English).
- Epishine (Linköping, light energy technology for low power electronics): SEK80M (€8M, $9.5M) from AxSol, for 20 percent of the shares (English, Swedish).
- Myrspoven (Stockholm, cloud platform for AI-based energy optimization in buildings): SEK52M (€5.2M, $6M) from M2 Asset Management and angel investors (Swedish, machine translation).
- Goava (Stockholm, insight tool for B2B salespeople): SEK38M (€3.8M, $4.5M) in a strategic investment from Enento Group, for 38.3 percent of the shares (English, Swedish).
- digip (Stockholm, digital solution for brand protection): SEK20M (€2M, $2.4M) in a funding round led by Industrifonden (Swedish, machine translation).
- Nanolyze (Gothenburg, technology for analyzing nanoparticle uptake and release of substances): SEK11M (€1.1M, $1.3M) from STOAF, Almi Invest, Goba Enterprises, Quinary Investment, and Länsförsäkringar Göteborg och Bohuslän (English, Swedish).
- Binary Brains (Örebro, intelligent sales forecasting for the commerce industry): SEK10M (€1M, $1.2M) from angel investors (English, Swedish).
- Voxo (Stockholm, platform for extracting, analysing and visualising voice data): SEK9M (€900K, $1.1M) from Beijer Ventures, Malmkroppen, Pär Pettersson and previous investor NFT Ventures (English, Swedish).
- Colix (Växjö, provider of software and app solutions for businesses): SEK7.5M (€750K, $900K) from angel investors (English, Swedish).
- Resitu (Stockholm, developer of an innovative solution for breast cancer biopsies): SEK7.5M (€750K, $900K) from Almi Invest, STOAF III Scitech and angel investors (English, Swedish).
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- The Train Brain, a Stockholm-based startup building AI-models for safe and reliable trains and buses, is starting a pilot project with Microsoft and Stockholm Public Transport (SL) to forecast passenger demand and capacity (Swedish, machine translation).
- Stockholm-based startup BonBot plans to use robots, app-based ordering and "mood managers" for its upcoming soft serve ice cream restaurants (English).
- Northvolt announced a new joint venture with Volvo to build another battery cell gigafactory somewhere in Europe (English, Swedish). Related: Can Northvolt solve Europe’s impending electric car battery problem (English)?
- Malmö-based Påhoj, maker of a child bike seat that turns into a stroller, is one of 5 finalists and the only Swedish company in Amazon Launchpad's first startup of the year award (Swedish, machine translation).
- Uber announced that it would buy the remaining 47 percent interest in Chilean online grocery provider Cornershop in an all-stock transaction. Cornershop was founded by the Swede Oskar Hjertonsson (English, Swedish / DI Digital paywall).
- Swedish VC firm Backing Minds has raised its second fund at SEK500M (€50M, $60M) to invest in overlooked founders, sectors or target customers (English / FT paywall, alternative URL, Swedish).
- The VC firm Alfvén & Didrikson and the venture studio VNTRS have launching the pre-seed & seed investor VEQ. The initial plan is to invest around SEK100M (€10M, $12M) in a dozen startups over the next couple of years (English, Swedish).
- 📺 400 children and teens from all over Sweden are currently participating in this year's virtual edition of the Code Summer Camp 2021, where they learn coding and other skills for the digital age (Swedish, short video).
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Other interesting things
- Stefan Löfven becomes the first Swedish PM to lose a no-confidence vote, over housing policy (English, Economist paywall, alternative URL).
- A Swedish court upholds ban on Huawei selling 5G network gear (English, Swedish).
- Dota 2’s The International, one of the biggest esports tournaments in the world, won't take place in Sweden after all, because Sweden doesn't think esports are sports (English, Swedish).
- A direct night train line connecting Stockholm to Copenhagen and Berlin has been launched (English).
- Stockholm Public Transport (SL) was slapped with a SEK16M GDPR fine for its ticket inspectors' bodycams that permanently capture video and sound (Swedish, machine translation).
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