News April 3, 2024: Scayl, Telness Tech, GAIA Biomaterials, Turbotic, Alrik, Luminy, Qurator, DRMLND, SICS AI, DTR-1, Flower, Skåne Ventures, BioCell Analytica, and more

Martin Weigert -

Here are today's news from Sweden's startup and tech sector, exclusively for you as subscriber of Swedish Tech News PRO.

Funding news

⬜️ publicly traded

As subscriber you have access to the exclusive shared Google Sheets which include all funding rounds, as well as the list of new Swedish tech startups. Updated daily. NEW: There is now also a sheet which includes tracked bankruptcies & shutdowns.
  • Scayl (Stockholm, platform that gives fintech lenders access to scalable debt funding, founded 2023): €100M ($107M) in debt funding from an unspecified European bank, to provide to fintech lenders. In conjunction with this announcement, Scayl emerges from stealth mode. The company has not raised any equity funding so far. According to co-founder and CEO Medjit Yalmaz, Scayl's major markets will be the UK, Germany, and the Benelux countries (English, Swedish / Di Digital paywall). ℹ️ Company details added on March 11 to the early-stage startup tracker page, and to the Google Sheet's "new startups" list.
  • Telness Tech (Stockholm, provider of next-generation cloud-based telecom solutions, founded in 2021 through a spin-off from Telness): SEK50M (€4.3M, $4.6M) in bridge funding from existing investors Industrifonden and JCE (via Viltor Ventures). The capital injection will be used for the continued international expansion, particularly in the US market. Telness Tech looks to exceed the forecasted growth rate for 2024 drastically, says co-founder Jonas Cedenwing (English, Swedish/ Di Digital paywall). The company raised its previous funding, a €8.5M Series A, in summer 2022. For 2022, net revenue was SEK4.8M and total revenue SEK13.2M.
  • GAIA Biomaterials (Helsingborg; manufacture of a material that has most of the qualities of plastic, but not the disadvantages, founded 2011): $5M in a funding round led by Almi Invest Greentech, with participation from private international and domestic investors. The funds will be used "to expand market penetration in the United States, India, and other targeted markets" (English).
  • Turbotic (Stockholm, provider of AI-powered enterprise automation orchestration, founded 2020): SEK27M (€2.3M, $2.5M) from two undisclosed new angel investors, who contribute around one third of the total amount. Existing investors including Öresund and Luminar Ventures also participated. This brings total founding to close to SEK120M. The new capital injection comes as the startup is entering its "commercialization phase" (Swedish / Breakit paywall).
  • Alrik (Stockholm, SaaS logistics workspace for distributors in construction, founded 2022): €1M ($1.1M) in seed funding from London-headquartered Pi Labs. The startup says it "has over 100 customers, including many of Europe’s largest distributors". Alrik was founded by Axel Enblad and Nici Sundén-Cullberg and launched last year (English). Notably, this seed funding is smaller than the company's pre-seed funding round, which amounted to SEK32.9M ($3.25M at that time) and was raised in spring 2022 from Global Founders Capital, Rocket Internet, and angel investors, according to data registered with Bolagsverket. Funding news continuing below...