Welcome to Swedish Tech Weekly issue #13.
Here is the latest from Sweden's tech and startup industry.
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Acquisitions & exits
- Stockholm-based company Bokadirekt, which operates a marketing and booking platform for the wellness and beauty sector and was founded in 2000, has been acquired by Stockholm-based search engine pioneer Hitta.se for about SEK200M (€19M) (in Swedish, machine translation).
News from startups and the tech scene
- Following its recent financing round of $50M, Stockholm-based e-scooter startup Voi has raised an additional SEK278M (€26.4M) from existing investors Vostok New Ventures, Balderton Capital, LocalGlobe and Raine Ventures, alongside new investors Project A and Creandum, and a host of business angels (in English, in Swedish).
- Stockholm-based esports startup G-Loot has raised $25M (€22.1M) from various existing and new investors. It's said to be "one of the largest investments ever made in a European esports company" (in English, in Swedish).
- Stockholm-based cleantech startup Climeon has secured $12.5M (€11.1M) through its project investment firm Baseload Capital, from Breakthrough Energy Ventures, the investment firm financed by billionaires like Jeff Bezos, Bill Gates, and Jack Ma (in English, in Swedish).
- Stockholm-based solar cell startup Exeger has raised SEK92M (€8.8M) from Softbank (in English, in Swedish).
- Stockholm-based startup Add Health Media, a media and investment firm with focus on health and medicine, has raised SEK20M (€1.9M) from Schibsted (in Swedish, machine translation).
- Helsingborg-based "Daily Fantasy Sports" startup FSport has raised €1.9M from undisclosed investors, among them "several professional poker players" (in English).
- Gothenburg-based startup Metry, which analyses energy usage to generate customized recommendations for services/tools to save energy, has raised SEK14M (€1.3M) from Summa Equity, Chalmers Ventures and angel investors (in English, in Swedish).
- Stockholm-based startup Referanza, which offers a marketing tool to boost ticket sales, has raised SEK8M (€760K) from existing investors (in Swedish, no machine translation available).
- Stockholm-based influencer platform Starflow has raised SEK6,2M (€590K) from various angel investors (in English, in Swedish)
- Stockholm-based startup Woilà, which promises to pay online shoppers money back if items they bought online got cheaper within 90 days after purchase, raised SEK5M (€470K) from angel investors (in Swedish, machine translation).
- Malmö-based flight search engine Avionero has raised SEK4M (€380K) from existing investors, as part of a planned bigger financing round (in English, in Swedish).
- The investment arm of Swedish car maker Volvo Cars has participated in a $40M financing round raised by Silicon Valley-based "ridesharing for kids" service Zūm, alongside several VC heavyweights (in English, in Swedish/DI Digital paywall)
- Swedish VC firm Northzone participated in a $55M financing round raised by Copenhagen, Denmark-based ratings platform for ecommerce companies, Trustpilot (in English).
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- Stockholm-based payments company Klarna has launched a share issue to raise SEK1B (€95M) from existing investors and said it plans a larger external fundraising round later this year.
- Global standards for password-free web authentication have been defined, with Swedish security company Yubico being a leading force. In a blog post, founder and CEO Stina Ehrensvärd outlines the importance of this step and what it could mean for the company. Here is also an interview with Ehrensvärd in Swedish published this week).
- In preparation of the release of its antidepressant wearable, Malmö-based startup Flow has launched a virtual therapist app for iOS.
- A group of women working at Swedish fintech company iZettle have created the ebook "Women Transforming Tech".
- Sorosh Tavakoli, founder and former CEO of Stockholm-based video ad startup Videoplaza which he and his co-founders sold in 2014 for a rumored amount of more than SEK500M (€47M), wants to reinvent cheese (and food in general) with his new startup Noquo Foods. In a blog post, he and his co-founder Anja Leissner outline their vision and plans.
- Spotify adds 1 million unique listeners across its free and premium tier in India in less than a week after launching.
- Copenhagen-based VC firm The Nordic Web Ventures, founded by Neil Murray in 2017, has raised its second fund to invest in pre-seed and seed-stage startups across the Nordics. The exact size has not been disclosed (in English, in Swedish).
Other news and interesting things to read
- German e-scooter startup Tier joins Voi and Lime on the Swedish market, launching in Stockholm, Gothenburg and Malmö this week (in Swedish, machine translation). With additional contenders not be ruled out and the weather soon getting more suitable for rides, this certainly looks to become the Swedish e-scooter summer of '19.
- Kobalt, a London-based tech-centric music label founded in 2000 by the Swede Willard Ahdritz and reportedly currently planning to raise a $100M funding round, is a major label waiting to happen, predicts Mark Mulligan.
- U.S.-based dating app and probably biggest Tinder competitor Bumble, where women have to take the first step, is planning a push into the Swedish market (in Swedish, machine translation).
- Volvo currently has a lot of things going on, having presented in Singapore what it claims is the world’s first full-size autonomous electric bus, and planning to limit future vehicles’ top speed to 180 kph.
- Video of Spotify Research Director Mounia Lalmas Roelleke talking about the use of machine learning at Spotify at the Chalmers Advancing AI conference a few days ago. You find the slides here.
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