Welcome to Swedish Tech Weekly issue #10.
Here is the latest from Sweden's tech and startup industry.
Acquisitions & exits
- Karlstad-based game studio THQ Nordic has acquired the Czech game developer Warhorse Studios for €33.2M (in Swedish, in English).
- Sweden's classifieds heavyweight Blocket has acquired the Stockholm-based startup Qasa and its platform for apartment rentals, for an undisclosed amount (in Swedish, machine translation).
- Helsinki-based Thirdpresence, a programmatic video advertising company, has acquired the Stockholm-based video platform Flowplayer. The amount was not disclosed (in English).
News from startups and the tech scene
- Castle, a cybersecurity startup founded 2015 in Malmö but today based in San Francisco, has raised $9.2M (€8.1M) in a series A round of funding, led by Index Ventures (in English, in Swedish).
- Stockholm-based startup Red Flag, offering an automated accounting solution, has raised SEK17M (€1.6M) from angel investors (in English, in Swedish).
- Audiodo, a Malmö-based startup providing personalized, AI-based, audio solutions and formerly known as Hearezanz, secured SEK16M (€1.5M) in capital investment from existing investors, including Almi Invest (in English).
- €1.1MWellstreet Ventures and angel investors
- €795K) Svea Ekonomi (in Swedish, machine translation).
- Valiant Game Studios has raised SEK2.1M (€200K) from angel investors (in English, in Swedish).
Other news and interesting things to read
- A Profile of Malmö-based startup Flow, which develops a wearable-based approach for treating depression.
- Interview with entrepreneur and investor Hampus Jakobsson on the strengths and challenges of Malmö's startup scene.
- There is a race going on among expansive Nordic startups fighting food waste with apps: Stockholm-based Karma raised a major round last summer. Now Danish competitor Too Good To Go, secured €6M.
- The Swedish startup accelerator/incubator Sting has selected 15 new companies for its spring rounds of Sting Incubate and Sting Accelerate.
- Swedish tech publication DI Digital will expand its "Female Founders" event series to New York (in Swedish, machine translation).
- Swedish e-scooter startup Voi and German competitor Tier reportedly held early-stage merger discussions at the end of 2018.
- Spotify will suspend or terminate accounts it finds are using ad blockers. And apropos Spotify: A Swedish social science research team has written a book which promises a "Spotify Teardown".
- Canadian e-commerce company Shopify paid $17.1M for the acquisition of Stockholm-based startup Tictail, which was announced in November 2018. However, Tictail had raised $32.6M in funding (in Swedish, machine translation).
- The Swedish VC firm EQT Ventures uses an AI called Motherbrain to identify and prioritize investments.
- The Swedish media company Bonnier has stopped publishing the Nordic version of Business Insider because it wasn't financially sustainable. Now the team of Business Insider UK is in charge of the Nordic site (in Swedish, machine translation).
- The major initiative "AI Innovation of Sweden" has officially been launched. One seemingly minor but hopefully far-reaching part of it: Translating and bringing Finland's praised free online training course “Elements of AI” to the people of Sweden.
- Insightful data on 15 tech companies that were started in the Nordics in recent years and eventually reached a $1B in valuation or more. One finding: All had more than 1 founder.
- Sweden possibly is the only country in the world with a legally-enshrined right to take a leave of absence for entrepreneurship.
- The Swedish film production company SF Studios is developing an English-language series based on Max Tegmark’s 2017 bestselling book “Life 3.0: Being Human in the Age of Artificial Intelligence.”
- Apple was reportedly "furious" after the city of Stockholm rejected the plan for a flagship store.
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