News April 8: Hoting Innovations, VOI and more

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

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Financing rounds

  • Hoting Innovations, no website (Vingåker, technology to mass produce engineered cellulose as alternative to plastics in packaging): SEK38M (€3.7M, $4M) from Almi Invest as well as Swedish and international private investors (English, Swedish).

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News from Swedish startups, the tech sector and VCs

  • VOI generated SEK920M (€90M, $97M) in revenue in 2021. CEO Fredrik Hjelm says that the company will soon get into the business of selling e-scooters directly to end consumers, too (Swedish, machine translation).

Other interesting things from the startup/VC world & beyond

  • In the span of six days, US-based one-click checkout scaleup Fast has gone from being valued at close to $500M and employing 450 people, to shutting down (English).
  • Lightspeed Venture Partners published its second annual Workplace Re-Entry Report, based on data from 200+ startups, to shed light on the
    “new normal” (English).

Other interesting things from Sweden

  • Sweden sends just 1% of its trash to landfills. Nearly half of it is being recycled, and almost all of the non-recycled waste is burned to generate electricity and heat (English).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm