News April 21: Instabox, Planhat, Residus, CAKE, Kinnevik and more

Here is today's curation of news from Sweden's startup and tech sector.

Funding news

  • Instabox (Stockholm, last-mile delivery and smart locker provider): $190M in a funding round led by Verdane, with participation from existing investors such as Creades and EQT Ventures as well as undisclosed new investors, at a valuation of $1B (English / Sifted soft paywall, alternative URL, Swedish).
  • Planhat (Stockholm, customer success platform): $50M in a Series A funding round from Sprints Capital, at a valuation of reportedly €490M (English / Sifted soft paywall, alternative URL, Swedish).
  • Residus (Stockholm, women's fashion brand providing transparent supply chain information): SEK2.65M (€260K, $280K) from angel investors Paul Fischbein, Magnus Dimert, Daniel Redgert, Andreas Källström and Mikael Janerås (English, Swedish).
  • Kinnevik led a $35M Series B round raised by Norwegian startup SafetyWing, provider of health insurance solutions for digital nomads and the remote workforce. Previous investor Creandum participated as well (English).
  • VNV Global led a €3M funding round raised by Dutch outdoor stays platform Campspace (English).

>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. Request access.

News from Swedish startups, the tech sector and VCs

  • Stockholm-based electric motorcycle manufacturer CAKE launches 3 new bikes for young riders (English).

Swedish tech earnings reports

Other interesting things from the startup/VC world & beyond

  • €1.2B were invested in Finnish startups in 2021, which marks a new record (English).
  • "When you see a bubble, you're often seeing the swarm in action. The cumulative efforts of countless swarms are responsible for human progress, even if those swarms can look bubbly and choppy in the moment." (English).

Other interesting things from Sweden

  • When one can talk to strangers in Sweden without annoying them (English / The Local paywall, alternative URL).
  • Stockholm is Europe's 2nd most competitive capital city, after Oslo, according to a study from the Stockholm Chamber of Commerce. Housing is the city's major pain point (Swedish, machine translation).
  • Sweden's economy is only 3.4% "circular", less than the global average (English, Swedish).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm