Welcome to Swedish Tech Weekly issue #133.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Klarna (Stockholm, payments and shopping provider) acquired Stockholm-based shopping comparison site PriceRunner for €930M ($1.1B) (English, Swedish).
- Omen Technologies (Gothenburg, real-time monitoring and detection technology for IoT systems) was acquired by Örnsköldsvik-based cybersecurity vendor Clavister, for SEK15M (€1.5M, $1.7M) (English, Swedish).
- Utopia Music (Stockholm, online platform for music creators, rights holders and collection societies that tracks global usage data) acquired Lyric Financial, an US-based provider of royalty-backed cash advances. Financial terms were not disclosed (English).
- Storegate (Karlshamn, cloud service provider) was acquired by Norwegian competitor Jottacloud. Financials were not disclosed (Swedish, machine translation).
- Outpost24 (Karlskrona, cyber assessment solutions) acquired Specops Software, a Stockholm-based provider of password management and user authentication solutions. The price was not disclosed (English, Swedish).
This issue of Swedish Tech Weekly has been sent to exactly 1000 subscribers. That's 7 more than last issue. If you enjoy this newsletter, please tell a friend, colleague or business partner about it! Forward this email, recommend swedishtechweekly.com on Slack/your team app of choice, or like/retweet this tweet. Or this tweet. Thank you!
- Opibus (Stockholm & Nairobi, developer of electric mobility technology for the African market): $7.5M in a pre-Series A round led by At One Ventures, with participation from Factor[e] Ventures and Ambo Ventures (English, Swedish).
- All Ears (Stockholm, monitoring service for the spoken media landscape): SEK50M (€5M, $6M) from existing investors Bonnier Ventures and Alfvén och Didriksson, to strengthen the company's US presence (English, Swedish).
- Skyresponse (Stockholm, SaaS solution for alarm and event handling management): €5M ($6M) from Nordic Eye and existing shareholders (English, Swedish / Breakit paywall).
- Outpost24 (Karlskrona, cyber assessment solutions): SEK50 (€5M, $6M) from existing investors Swedbank Robur and Alcur Fonder (English, Swedish / DI Digital paywall).
- Quartr (Gothenburg, investor relations app): SEK43M (€4.3M, $5M) from Öhmangruppen and existing angel investors (English, Swedish / DI Digital paywall).
- Elsa Science (Stockholm, app for patients with arthritis): SEK38M (€3.8M, $4.3M) in a funding round led by Health Cap, with participation from existing investors, for the US launch (English, Swedish).
- Printler (Stockholm, marketplace for posters): SEK20M (€2M, $2.3M) in a funding round led by Longrun Capital (Swedish, no machine translation available).
- Qtagg (Västerås, developer of marine energy efficiency technology): SEK16M (€1.6M, $1.8M) from Almi Invest and angel investors (Swedish, machine translation).
- Moonlighting Industries (Örebro, developer of tracking and focus tools for professional film makers): SEK10M (€1M, $1.2M) from angel investors (Swedish, machine translation).
- Skillbreak (Stockholm, community marketplace for workshops): SEK7M (€700K, $800K) from Anthon B Nilsen, angel investors and existing investors (English, Swedish / DI Digital paywall).
- Waytobill (Stockholm, checkout solution for telesales): SEK3M (€300K, $350K) from Polynom Investment and angel investors (English, Swedish).
News from Swedish startups and the tech sector
Other interesting things
- Einride, Gothenburg's intelligent trucking startup, has launched in the US with new products and customers (English, Swedish).
- Klarna launches a one-stop shopping app globally. It enables a "buy now pay later" option for any store by generating one-time use virtual payment cards (English, Swedish). Related: Thoughts on Klarna's strategic ambitions in the light of its latest moves and many acquisitions (English).
- Boksnok, Stockholm-based subscription service for interactive children’s books, launched on the German market (English).
- imagiLabs released a collaborative coding feature, leveraging Apple’s much-awaited SharePlay feature (English).
- Lesson from pitching on Draknästet (the Swedish version of Dragon's Den), by Adam Webb, founder of plastic-free lifestyle brand Lifelong (English).
- Swedish Hardware design company Teenage Engineering made its first computer case called Computer-1 (English).
- As of January 2022, the City of Stockholm will introduce several new rules for on-demand e-scooters. Most importantly, only 3 operators will be allowed, and the number of available scooters will be cut in half to a maximum of 12,000 (Swedish, machine translation).
- Sweden ranks #5 in the world based on venture funding per capita (English).
- Mjuk, a Finland-based marketplace for buying and selling quality second-hand furniture, launched in Sweden (English, Swedish).
- Jonas Nordlander, Swedish co-founder of Russia's most popular classifieds site Avito, shares his insights and learnings about building and scaling (English).
- Swedish government agencies say energy-intensive crypto mining should be banned (English, Swedish).
- Wired writes about the conflict surrounding Stockholm's controversial school platform and the open source version created by annoyed parents (English).
- World-first zero-emission catamaran set for service in Sweden (English).
- Scandinavian Airlines (SAS), in partnership with Shell, Vattenfall and LanzaTech, is exploring the production of synthetic sustainable aviation fuel (SAF) in Sweden (English, Swedish).
- Digital versions of the the IKEA catalogue since the 1950s (English).
- Finally, 1000 subscribers!! It took a bit longer than I initially expected when I sent out the first issue on December 3 2018 to 34 people, but then again, I didn't invest in any marketing activities, and there is no hurry. The journey is the destination anyway. Still, I'm happy to have reached this milestone. A big thanks to everyone who helps to spread the word about Swedish Tech Weekly!
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