News August 22, 2022: CAKE, Anyfin, H2 Green Steel, Curb Food, European startup mafias 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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News from Swedish startups, the tech sector and VCs

  • CAKE, Stockholm-based electric motorcycle startup, delivered 1050 motorcycles in 2021 and has 5500 units on its order books, which it plans to deliver within the next 18-20 months. However, supply chain issues and lack of compontents are causing challenges, says founder and CEO Stefan Ytterborn. The company plans to raise a Series C in fall 2022 (Swedish / DI Digital paywall).
  • Stockholm-based consumer finance app Anyfin, which is active in Sweden, Finland and Germany, generated revenue of SEK130M (€12M, $12M) in 2021, and a net loss of SEK199M. Co-founder & CEO Mikael Hussain says the startup is benefiting from high inflation and had close to 500,000 downloads during H1 2022 (Swedish / DI Digital paywall).
  • Swedish fossil-free steel plant startup H2 Green Steel signed a final contract with German car maker BWW Group on the delivery of CO2-reduced steel (English).
  • Curb Food, Stockholm-based dark kitchen and online restaurant brand operator, is expanding into Germany with a first store in Berlin (English).

Other interesting things from the startup/VC world & beyond

  • Dealroom added 150+ companies to the “European startup mafia” landscape, which among many other protagonists features Sweden's "Spotify mafia" (25 companies) & "Klarna mafia" (15 companies) (English).
  • Early founders shouldn't let other people talk them out of their startup idea (English).
  • Costco, the American multinational chain of big-box retail stores, plans to open its second Swedish store in 2024 outside Malmö. The first store will open near Stockholm in the coming months (Swedish, machine translation).


That's it for today.

Martin Weigert

Martin Weigert

Martin is the founder of Swedish Tech News. Every day he spends many hours gathering and curating the latest from Sweden's startup & tech sector. Contact: