Welcome to Swedish Tech Weekly issue #31.
Here is the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Ellos Group, a Borås-based Nordic e-commerce leader in fashion and home furnishings, is being sold by the private equity fund Nordic Capital to Belgian fashion group FNG, for approximately SEK2.4B (€226M) (English, Swedish).
News from Swedish startups and the tech scene
- P.F.C. (Stockholm, mobile-based consumer banking): SEK50M (€4.7M) from existing investor Nordea (English, Swedish).
- Tipser (Stockholm, affiliate-based software solution to transform any content platform into an e-store): SEK32M (€3M) from existing and new angel investors (Swedish, machine translation).
- Combient MIX (Stockholm, building a hub to strengthen AI capabilities across Nordic industries): SEK26M (€2.5M) from SEB and Scandinavian Airlines (SAS) (English, Swedish / DI Digital Paywall).
- Epishine (Linköping, light energy technology for low power electronics): €2.3M (SEK24M) grant from the European Union (English, Swedish).
- Buddy (Stockholm, online store and subscription service for high-end dog food): SEK9M (€850K) from Luminar Ventures and angel investors (Swedish, machine translation).
- Knodd (Gothenburg, video-based healthcare for children): SEK5.5.M (€520K) from Add Health Media and angel investors (Swedish, machine translation).
- Interspectral (Norrköping, creator of software for 3D-visualization of real captured data): SEK5M (€470K) from angel investors (English, Swedish).
- Mendi (Stockholm, developing "the world's first brain enhancement device for home use"): undisclosed amount from Almi Invest and Propel Capital (English).
- Grillat.se (Ljungbyholm, online store for grills and BBQ equipment): undisclosed amount from angel investors (Swedish, machine translation).
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- Tengai, the AI interview robot software solution developed by Swedish recruiter TNG on the technological hardware made by Furhat Robotics, is being spun off into its own company, preparing for international expansion (English).
- E-scooter startup VOI has announced having reached 5 million rides and profitability in two markets, Stockholm and Oslo (English, Swedish).
- A group of Swedish real estate brokers plans to launch a real estate marketplace called Bomero, trying to create competition to the massively dominating market leader Hemnet (Swedish, machine translation).
- Spotify has launched a lighter version of its Android app in 36 markets around Asia, Latin America, the Middle East, and Africa (English).
Other interesting things
- Swedish VC Louise Samet argues that there are a lot of reasons not to do angel investing. When she personally does it anyway, it's not to make money, she writes (English).
- Interview with Tetra Pak heir Magnus Rausing on his activity as angel investor (English).
- Podcast interview with Pär Hedberg, founder of Sting, Sweden’s probably leading accelerator & incubator for tech startups (English).
- Sweden's leading citizen authentication solution BankID introduced QR codes as a security measure, which reduced fraud by 90 % (Swedish, machine translation).
- The former Swedish industrial town Eskilstuna is becoming a leader in recycling (English).
- The San Francisco-based e-commerce platform Wish is establishing its first physical presences in Sweden by launching "Wish Local", letting local stores become pick-up points and storefronts for Wish (Swedish, machine translation).
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