Welcome to Swedish Tech Weekly issue #52.
Bringing you the latest from Sweden's tech and startup industry.
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Mergers & acquisitions
- Snow Software, a Stockholm-based provider of technology intelligence solutions, acquired Embotics, a Canada-based hybrid cloud management company. The amount was not disclosed (English).
- ChromaWay, a Stockholm-based creator of blockchain infrastructure, aquired Antler Interactive, a Stockholm-based developer of mobile games. The amount was not disclosed (English, Swedish).
- Inyett, a Helsingborg-based fintech providing solutions for automated checks of supplier payments for the public and private sector, has been acquired by Norwegian business software company Visma. The amount was not disclosed (English, Swedish).
News from Swedish startups and the tech sector
- Bokio (Gothenburg, digital account services for small businesses): €4M ($4.4M) in a financing round led by Creandum (English, Swedish).
- Woshapp (Stockholm, mobile-based provider of car washing services): SEK30M (€2.8M, $3.1M) from Bonnier Ventures, CSB Capital, Norrsken and Inbox Capital (English, Swedish).
- iCellate (Stockholm, cancer diagnostics using blood samples): SEK23M (€2.2M, $2.4M) from existing and new shareholders (English, Swedish).
- Pilloxa (Stockholm, maker of a smartphone-connected pillbox): SEK13M (€1.2M, $1.4M) from Bonnier Ventures and angel investors (English, Swedish).
- Kavalri Games (Stockholm, game studio focused on horse games): SEK3M (€280K, $310K) from Coffee Stain and Goodbye Kansas Game Invest (English, Swedish).
- Fotboll Sthlm (Stockholm, news site covering Swedish football): undisclosed amount from angel investors (English, Swedish).
- Voady (Sundsvall, digital booking solutions for hairdressers): undisclosed amount from Per Schlingman (Swedish, machine translation).
- SleepCure (Gothenburg, digital sleeping coach): undisclosed amount from G4 Capital, Novobis and Magnus Emilsson (Swedish, machine translation).
Other interesting things
- Short profile of and status report from Volumental, the Stockholm-based developer of 3D foot scanning data for product recommendations and customized products (Swedish, machine translation).
- Stockholm-based fintech Northmill launches Rebilla Card for customers in Sweden, a MasterCard credit card with 2% cashback and no fees (English).
- Pugz, a crowdfunded Swedish maker of a new kind of earphones, has filed for bankruptcy (Swedish, machine translation).
- Another bankruptcy: The insurtech startup Insurance Simplified (Swedish, machine translation).
- Mist Ventures is a new Lund-based investment fund focusing on early-stage deep tech startups (English).
- Payments company Klarna reported a loss of SEK417M (around $40M) for the first 9 months of 2019 (compared to a profit of SEK63M during the same period in 2018) due to a "temporary increase in credit losses" related to the company's market expansion (Swedish, machine translation).
- Sebastian Siemiatkowski, CEO and co-founder of Klarna, revealed in an open-hearted interview with Dagens Nyheter that he struggled with alcoholism in the past (Swedish #1 / DN paywall, Swedish #2, machine translation).
- In a short podcast conversation, Marta Sjögren, Swedish VC at Northzone, talks about the VC firm's newest fund and the current environment for startup investing in Europe (English).
- Lessons on how to make distributed work work, shared by Sandra Uddbäck, VP of Data Acquisition at Malmö-founded, distributed startup Mapillary (English).
- "How to raise your next funding round", according to Creandum VC Peter Specht (English).
- Reports about poor working conditions at German online retail giant Zalando's Stockholm distribution center (Swedish, machine translation).
- With this week's launch for customers of Swedbank, Apple Pay is now supported by 3 out of the 5 major retail banks on the Swedish market (Swedish, machine translation).
- Sweden needs to lower employment taxes on high salaried jobs in order to keep and attract the best talents, particularly in engineering and the tech industry, argues Sectra CEO Torbjörn Kronander (Swedish, machine translation).
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