Welcome to Swedish Tech Weekly issue #117.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Scrive (Stockholm, specialist for electronic signature and ID solutions) acquired Danish e-signature provider Esignatur. The price was not disclosed (English, Swedish).
News from Swedish startups and the tech sector
- Heart Aerospace (Gothenburg, manufacturer of an electric regional airplane): $35M from Breakthrough Energy Ventures, United Airlines and Mesa Air Group (English, Swedish).
- Resolution Games (Stockholm, VR/AR games studio): $25M in a Series C funding round co-led by Qualcomm Ventures and BITKRAFT Ventures, with participation from Knutsson Holding and existing investors (English, Swedish).
- Doktor.se (Stockholm, digital healthcare provider): SEK210M (€20.5M, $24M) from Tencent in an extension of the most recent financing round announced in June. Tencent also bought shares from existing investors for an additional SEK100M (English, Swedish / DI Digital paywall, Swedish #2).
- Logical Clocks (Stockholm, open-source platform for the development and operation of ML pipelines): SEK50M (€5M, $5.8M) in a Series A funding round led by Industrifonden with participation from Inventure (English, Swedish).
- Xenergic (Lund, low-power memory solutions for integrated circuits): SEK40M (€4M, $4.6M) from Almi Invest and other undisclosed investors (English, Swedish).
- Ignitia (Stockholm, technology for tropical weather forecasting): SEK35M (€3.5M, $4M) in a funding round led by Novastar Ventures, with participation from IKEA Social Entrepreneurship and existing investors (English, Swedish / DI Digital paywall).
- Anyone (Stockholm, marketplace for audio advice): $3.6M in a seed round led by Cavalry Ventures, with participation from Supernode Global, Antler and angel investors (English).
- Limina (Stockholm, modern investment management solutions provider): SEK26M (€2.6M, $3M) in a Series A funding round led by Industrifonden, with participation from existing investors (English, Swedish).
- Picsmart (Stockholm, online and delivery platform for local grocery stores): SEK18M (€1.8M, $2.1M) from the Ehrnrooth family, angel investors and existing investors (Swedish, machine translation).
- Econans (Gothenburg, digital simulation and advice services for personal finances): SEK15M (€1.5M, $1.7M) from existing investors (English, Swedish).
- Sturdy (Stockholm, software collaboration platform): SEK13M (€1.3M, $1.5M) from J12 Ventures, Nextblue, SCNE and Fredrik Hedberg (English, Swedish).
- Position Green (Malmö, data-driven platform for sustainability reporting): SEK6M (€600K, $690K) from angel investors (Swedish, machine translation).
- Refurbly (Örebro, marketplace for refurbished phones): SEK6M (€600K, $690K) in a seed round from angel investors (Swedish, machine translation).
- Vakta (Stockholm, subscription-based mobile app to get help from private security guards): undisclosed amount from Breakfast Ventures (Swedish, machine translation).
- Swedish investment firm Kinnevik co-led a €210M ($250M) Series D funding round raised by Danish digital bank Lunar (English). Kinnevik also invested an additional $22M as part of a $150M Series C round (alongside existing VC Creandum and others) raised by Danish fintech Pleo, which aims to simply the business expense process (English).
- Swedish VC firm Creandum led a $3.1M funding round raised by US-based startup Leap, a social learning community for people aged 55+, co-founded by Swedish entrepreneur and former Toca Boca CEO Caroline Ingeborn (English, Swedish).
- Swedish climate tech VC firm Pale Blue Dot led a £1.1M (€1.3M, $1.5M) funding round raised by UK-based climate risk management startup Climate X (English).
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- Heart Aerospace did not only secure funding from United Airlines and its regional airline partner Mesa Air Group, but the 2 airlines also ordered 200 of Heart Aerospace's inaugural ES-19 electric aircrafts, with commercial deliveries scheduled to start in 2026 (English, Swedish).
- Long profile of Stockholm-based (remote) startup Anyone, which is building a marketplace for advice, one 5-minute call at a time (English).
- Quartr, the Gothenburg-based app startup that wants to "democratize" investor relations, is now also available on Android, and offers access to investors calls from now 15 markets (English).
- A project group led by Gothenburg-based satellite communications company Satcube plans to develop a next generation, low-cost LEO (Low Earth Orbit) satellite terminal, supported by a SEK4M grant from Sweden's public innovation agency Vinnova (English).
- What to expect from Space, Stockholm's new centre for digital culture that is due to open in November (English).
- Horacio Gutierrez, Spotify's chief legal officer, has spent years making Apple the bad guy (English).
- Kim Fai Kok, who recently stepped down after a decade at Truecaller to become a full-time angel investor, provides suggestions for how to get into angel investing with "no" money (English).
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Other interesting things
- How Swedish environmental artist Andy Okay had his artwork stolen by Chinese e-commerce giant Shein, fought them and won (English).
- Tinder opened a pop-up padel court in Stockholm's Södermalm district, to enable dates while playing this in Sweden currently incredibly popular racket sport (Swedish, machine translation).
- A correction: CDON is not from Stockholm as I wrote in the previous issue, but from Malmö. Thanks to Karsten for pointing that out.
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