News August 26, 2022: Simpel Transport, Renewcell, ABC Labs, Storytel 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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Funding news

  • Simpel Transport (Stockholm, matching solution for the transportation sector to utilize unused load capacity): undisclosed amount from angel investors Viktor Bernsdorff, Jonas Bertilsson and Karsten Inde. The company, which has 8 employees and already reached profitability according to co-founder Patric Olsson, plans to raise a larger funding round in late 2022/early 2023, for the domestic and European expansion (Swedish, machine translation).

News from Swedish startups, the tech sector and VCs

  • Renewcell's new flagship factory in Sundsvall - billed as the world’s first commercial scale 100 per cent textile-to-textile recycling plant - is now up and running (English).
  • ABC Labs, Stockholm-based provider of large-scale automated disease testing, generated a sizeable profit of SEK840M (€80M, $80M) in 2021, at a revenue of SEK1.2B, largely thanks to a contract for Covid testing from the Swedish Health Agency (Swedish / DI Digital paywall, Swedish #2, no machine translation available).
  • Johannes Larcher is new CEO of Stockholm-based audiobook and ebook subscription service Storytel (English).

Other interesting things from the startup/VC world & beyond

  • Klarna's publicly listed US rival Affirm has spooked investors with a weaker-than-expected outlook (English).
  • After YouTube, now Twitter is getting into podcasts (English).
  • What founders need to know about "data rooms", including what data investors are hoping to see, the documents that aren't needed, and red flags to look out for (English).
  • "Standard Conversion" is a useful framework which founders can apply to almost any challenge (English).


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: