Welcome to Swedish Tech Weekly issue #16. Thank you for being a subscriber!
Here is the latest from Sweden's tech and startup industry.
Mergers & acquisitions
- Stockholm-based music streaming company Spotify has acquired the Los Angeles-based podcast studio Parcast, for a rumored $100M (€89M) (in English, in Swedish).
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- Stockholm-based healthcare startup Frisq has raised SEK67M (€6.4M) through a directed share issue (in English, in Swedish).
- Stockholm-based startup Furhat Robotics, maker of social robot technology, has received a €2.5M grant from the European Union’s Horizon 2020 research and innovation programme (in English).
- Stockholm-based computer vision startup ManoMotion also received an EU grant, €2.2M. In a LinkedIn post, ManoMotion's Head of Growth, Jakob Broman, explains how the company scored that funding.
- Malmö-based startup Radinn, maker and seller of electric boards for water sports, has raised SEK20M (€1.9M) from existing and new investors (in English, in Swedish).
- Malmö-based sustainablity-focused delivery startup MOVEBYBiKe, which uses customized e-cargo bikes for its transports, has raised SEK10M (€959K) in a funding round from angel investors (in English, in Swedish).
- Swedish VC firm EQT Ventures led a $3.8M (€3.4M) funding round in Dublin-based AR & VR game studio WarDucks and participated in a $18M (€16M) Series C raised by Amsterdam-based 3d printing startup 3D Hubs.
News from startups and the tech scene
Other news and interesting things to read
- One of the most popular casual smartphone games right now in Sweden: Coin Master from Israeli game studio Moon Active. The game clearly targets children and faces heavy criticism for its explicit gambling characteristics (in Swedish, machine translation).
- While China transforms itself and is rapidly getting ready for a high tech future, Sweden lives off of "old merits" and is caught up in short term-focused political debates, argues Andreas Hatzigeorgiou, CEO of the Stockholm Chamber of Commerce (in Swedish, machine translation).
- But when it comes to global energy transition, Sweden is the world leader, according to a new report by the World Economic Forum.
- Ride-hailing giant Uber is acquiring Middle Eastern rival Careem for $3.1B, which has been co-founded by the Swede Magnus Olsson. Here is a short article about him from 2016.
- Around 3,500 people in Sweden are walking around with a microchip under the skin in their hand. Here is how they are using them – or not.
- Ebtisam Mohammedsalih came to Sweden less than 5 years ago and decided to study software engineering because it was one of the few programs available in English. Now she has been named "IT girl of the year 2019" by Microsoft (in Swedish, machine translation).
- An indie musician on his positive experiences with Spotify Discovery Weekly and how it makes him money.
- Currently, Google Assistant is the only smart assistant for the home with support for the Swedish language, meaning no one prevents Google from capturing the Swedish market. At least some stores of Swedish grocery chain ICA, even smaller neighborhood stores, are currently selling Google's smart speaker Google Home mini right at the cashier.
- According to an annual trust survey, alcohol monopoly Systembolaget is Sweden's most trusted institution.
- How Noma created a global trend of "New Nordic" cusine and a perception of Nordic food which isn't necessarily shared by the region's residents.
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