Welcome to Swedish Tech Weekly issue #118.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Veoneer (Stockholm, global automotive technology company) is being acquired by Canadian auto supplier Magna International for about $3.8B in cash (English, Swedish).
- Klarna (Stockholm, payments and shopping provider) acquired German mobile wallet startup Stocard for reportedly €113M ($133M), according to German media (English, German, Swedish).
- Björn Lundén (Näsviken, provider of financial software for SME and accountancy customers) sold a majority stake to private equity firm Main Capital. The price was not disclosed (English / Swedish / DI Digital paywall).
- Stunlock Studios (Skövde, game developer) sold a majority stake to Tencent, which already was an investor before. The price was not disclosed (English).
News from Swedish startups and the tech sector
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- Anocca (Södertälje, developer of a technology platform for analysis of T-cell biology): $47M in a Series B funding round from Swedbank Robur Ny Teknik, Ramsbury Invest, family offices and existing investors (English).
- Mindler (Stockholm, digital service for talking with psychologists): SEK150M (€15M, $17M) in a funding round led by CNI, with participation from Ventech, Schibsted, Back in black and angel investors (English, Swedish / DI Digital paywall, Swedish #2).
- Starmony (Stockholm, AI-powered music-making app): SEK30M (€3M, $3.5M) from Brightly Ventures, Bonnier Ventures, Acecap, angel investors and existing investors (English, Swedish / DI Digital paywall, Swedish #2).
- Corite (Stockholm, platform for crowdinvesting in music artists): $2.2M in a private token sale from ChromaWay and other investors, for their upcoming blockchain platform, “Fan Power” (English).
- vVenues (Stockholm, virtual event platform): SEK12M (€1.2M, $1.4M) from Brightly Ventures (English, Swedish).
- KitchenGrowth (Stockholm, ghost kitchen provider): SEK1.5M (€150K, $170K) from angel investors (English, Swedish).
- Sweden- & UK-based VC firm Oxx co-led a $11M Series A funding round raised by French open source API management platform Gravitee (English).
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Other interesting things
- Telia has the fastest 5G network in Stockholm, followed by Telenor, Tele2 and Tre (Swedish, machine translation).
- Time Magazine named Gothenburg one of the world’s greatest places. It's the first time a Swedish city has been placed on the annual list (English).
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