Welcome to Swedish Tech Weekly issue #19.
Here is the latest from Sweden's tech and startup industry.
If this email has been forwarded to you, you can sign up for free at swedishtechweekly.com.
Mergers & acquisitions
- Hygglo (Stockholm, marketplace for short rentals of gadgets) has acquired Leieting, its smaller competitor based in Bergen, Norway. Financial details were not disclosed (in English).
Do you like Swedish Tech Weekly? Tell a friend, colleague or business partner by forwarding this email, recommend swedishtechweekly.com on Slack/your team app of choice, or like/retweet this tweet.
- Billogram (Stockholm, invoicing and payments technology): SEK38M (€3.6M) from M2 Asset Management, Inbox Capital, CNI and others (in English, in Swedish).
- NuvoAir (Stockholm, develops technology to make respiratory diseases measurable and more treatable): SEK28M (€2.7M) from Industrifonden, existing investor Spiltan and others (in English, in Swedish).
- Engaging Care (Malmö, SaaS platform for healthcare providers to communicate with patients): €2.5M (SEK26M) from Connect Ventures, Crowberry Capital and others (in English).
- Bintel (Helsingborg, smart waste management technology): SEK8M (€767K) from Almi Invest and angel investors (in English, in Swedish).
- Scandinavian Man (Stockholm, platform that helps launch and market Nordic principles, personalities and brands to the world): SEK4M (€380K) from Wellstreet (in English, in Swedish).
- Haldor (Sundsvall, developing educational tools in Microsoft Teams for Education): SEK3M (€288K) from Almi Invest and a business angel (in Swedish, machine translation).
- Swedish VC EQT Ventures is leading a Series B financing round of a total £25M (€31.2M) raised by London-based AI startup Cytora (in English).
News from Swedish startups and the tech scene
Other news and interesting things
- Profile of imagiLabs, a Stockholm-based startup creating programmable accessories for teen girls to get interested in programming (in English).
- As a fun project, the web agency Zerebra has created a web app and an iOS app called Zcooters showing e-scooters of multiple providers available in Stockholm on one map – as long as those providers don't block access for Zscooters (in Swedish, machine translation).
- Meanwhile, the city of Stockholm and e-scooter companies seem to have agreed on certain rules and limitations in regards to speed and parking of e-scooters in central parts of the city (in Swedish, machine translation).
- Stockholm-based connected car company Springworks has filed for bankruptcy, only a few months after having been acquired by its UK-based competitor Tantalum Corporation. Swedish telecom operator Telia and Swiss connected car company Autosense have acquired Springworks' assets (in Swedish, machine translation).
- Another bankruptcy: Medicoo, a Malmö-based startup in the crowded sector of online doctor appointments (in Swedish, machine translation).
- Maria Hedengren, former CFO at iZettle and "instrumental to iZettle's $2.2B sale to PayPal", is the new CEO of magazine subscription startup Readly. She'll take over from Jörgen Gullbrandson (in English, in Swedish).
- Sweden's first sportstech accelerator, SPIN Accelerator Sweden, has announced 10 startups that join the program (in English).
- After testing it in Sweden, Klarna is launching its Visa payment card in Germany (in English, in German).
- The VC arm of Swedish bank SEB has launched a new fund called Fairpoint Capital, with SEK900M (€86M) from SEB and other institutions waiting to be injected in B2B technology endeavors from the Nordics (in English).
- A team of the KTH Royal Institute of Technology plans to build Sweden's first hyperloop pod, with the help of railway company MTR Express (in English).
- The Freakonomics podcast interviewed Spotify CEO Daniel Ek and outlines how the company came to where it is today (in English).
- Brilliant TEDx talk (and storytelling) by Malmö-based investor and tech personality Hampus Jakobsson on how to change (in English).
- Swedish e-commerce revenue in 2018 totaled SEK268B (€25.7B) (in Swedish, machine translation).
- Profile of Malmö's "small but sturdy tech ecosystem" (in English).
- Facial analytics technology is about to be tested by some retailers in Sweden (in Swedish, machine translation).
- On the island of Gotland, Sweden will construct the "world’s first electric road", which can charge inductively both an electric truck and a bus while in full motion (in English).
- One correction related to last issue: Kerstin Cooley previously was at Moor Capital, but is now managing partner at Brightly Ventures.
- Due to the upcoming Easter holidays, the Swedish tech news cycle might slow down a bit. Whether I'll publish an issue of Swedish Tech Weekly next Thursday or not will depend on if there's enough to report. I don't want to fill your inbox unnecessarily.
Thanks for being a subscriber. For any feedback or comments, just hit reply.
Check out my other newsletter, filled with interesting, insightful and thought-provoking things to read about the digital world: weekly.meshedsociety.com.