News August 10: Findity, Nørdlight, Detectify, Airsonett, Yubico, Univrses, Spotify and more

Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News.

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Mergers & acquisitions

  • For SEK102M (€9.8M, $10M), Creades bought 35% of the shares of Stockholm-based SaaS solution for business expense management Findity, mostly from existing shareholders. The Swedish investment company is now Findity's largest owner (English, Swedish).
  • Nørdlight (Stockholm, game developer) was acquired by Canada-based global children's entertainment company Spin Master. Financials were not disclosed (English, Swedish).

Funding news

  • Detectify (Stockholm, automated external attack surface mangement solution): SEK69M (€6.6M, $6.9M) from existing investors such as Balderton Capital and Inventure. The company also secured a SEK25.9M loan from Silicon Valley Bank (Swedish, machine translation).
  • Airsonett (Ängelholm, device for the non-pharmaceutical home treatment of allergic asthma and eczema): SEK16M (€1.5M, $1.6M) from Fåhraeus Startup & Growth Fund, for the international expansion (Swedish, machine translation).

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News from Swedish startups, the tech sector and VCs

  • Nice win for Yubico: Internet infrastructure giant Cloudflare says its use of hardware security keys from the Stockholm- & Silicon Valley-based company helped to prevent a breach, after phishers successfully fooled 3 Cloudflare employees (English).
  • Univrses, Stockholm-based startup creating technology for autonomous systems, is working with the city of Helsingborg to gather data in urban environments. Waste management vehicles are equipped with smartphones that run the company's computer vision software, harvesting the city for relevant, actionable and anonymized urban data (English, Swedish).
  • Spotify launched a new site to sell fans tickets to live gigs directly from its platform instead of redirecting users to partners like Ticketmaster and Eventbrite (English).

Other interesting things from the startup/VC world & beyond

  • German crypto bank Nuri (formerly Bitwala) with 500K users files for insolvency (English).
  • A few months after announcing $150M in fresh VC funding, UK-based events startup Pollen confirms it is restructuring, after failing to find a buyer (English).
  • Stockholm’s First North Growth Market became Europe’s hottest market to raise funds for growth companies in the first half of the year (English / FT paywall, alternative URL).
  • Sweden's Embassy in Bangkok is being praised by Thais for providing six months of parental leave with full salary to its Thai male staff. Using the attention, the Embassy also mentioned that the staff is entitled to Fika every Friday...  (English).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm