Welcome to Swedish Tech Weekly issue #20.
Here is the latest from Sweden's tech and startup industry.
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News from Swedish startups and the tech scene
- Coala Life (Stockholm, developer of a digital heart monitor): SEK92M (€8.7M) for the expansion to the US market from various investors (in English, in Swedish).
- MOBA Network (Stockholm, operating "some of the largest gaming communities in the world"): SEK30.6M (€2.9M) through a directed new share issue (in English, in Swedish).
- Näktergal (Stockholm, provider of a digital lending system for challenger companies in the mortgage sector): SEK5.5M (€524K) from angel investors (in Swedish, DI Digital paywall, no machine translation available).
- FinanZero (São Paulo, consumer loan marketplace launched in 2016 by the Swedish-Brazilian investment company Webrock Ventures on the Brazilian market and with the Swede Olle Widén as CEO): SEK100M (€9.5M) from existing and new investors (in English, in Swedish).
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- Recently Swedish VC firm EQT Ventures invested in Dublin-based AR & VR game studio WarDucks (reported in Swedish Tech Weekly #16). According to the firm, it found the startup through its AI platform "Motherbrain" (in English).
- Profile of the initiative Orten.io and its founder Zakaria Hersi. He and his team want to foster tech entrepreneurship in Sweden's segregated minority neighborhoods, thereby increasing diversity within the tech industry and contributing to solving the shortage of developers. "Orten" is Swedish slang and short for "förorten", which means "the suburb" (in English).
- The Polish mobility startup Blinkee City has launched in Stockholm with a fleet of free-floating electrical mopeds that can be rented through an app (in Swedish, machine translation).
- Payments company Klarna's handling of personal data in regards to the GDPR has been reported to Sweden's data protection watchdog almost four times as much as Sweden's four biggest banks (in English).
- British media reports that a man who suffered a brain haemorrhage before a flight was saved thanks to Stockholm-based online doctor app KRY (which is called LIVI in the UK) (in English).
Other news and interesting things
- “If you look at how Silicon Valley evolved, Stockholm is going through that now. There was the so-called ‘PayPal mafia’ out there who left that company to initiate their own startups, and we have the same here from the unicorn generation", says Fishbrain's Lisa Kennelly, who is one of the people quoted in this latest piece about the coming of age of Stockholm's startup scene (in English).
- Erik Bernhardsson, creator of the early version of Spotify's music recommendations, wrote about his theory why software projects often take longer than expected, by applying a statistical model (in English).
- Not Sweden-specific but fun: Visualization of awkward, strange and smart seating arrangements when founders and investors meet (in English).
- The Swedish Public Employment service (Arbetsförmedlingen) wants to use AI to get better at its tasks. To train the Swedish language model, it scanned the entire Swedish version of Wikipedia (in Swedish, machine translation).
- This tweet from Christoph Janz, who is co-founder of and partner at Berlin-based early stage VC firm Point Nine Capital, made my week!
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