News August 9: Baby Journey, Picsmart, The Ode To, Ekkono, Propel Capital, Elis Hodzic 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

  • Baby Journey (Stockholm, app-based guide for pregnancy and new parents): SEK26M (€2.5M, $2.6M) from Länsförsäkringar and and professional ice hockey player Marcus Krüger, at a post-money valuation of SEK325M. The startup, which was founded in 2019, generated an operating profit of SEK2.2M last year (Swedish, machine translation).
  • Picsmart (Stockholm, online and delivery platform for local grocery stores): SEK25M (€2.4M, $2.5M) from Artmax as well as existing investors such as Aggregate Media, Pasha Sabouri, Fredrik von Limburg Stirum and the family offices Fazer and Ehrnrooth, at a valuation of SEK175M (Swedish, machine translation).
  • The Ode To (Stockholm, online shop for art): SEK6.25M (€580K, $590K) in a funding round led by angel investor Daniel Pilotti, with participation from unspecified new and existing investors (Swedish / DI paywall).
  • Ekkono (Varberg, embedded edge machine learning library, purpose-built for IoT): undisclosed amount in a strategic investment from Finnish technology service company Etteplan, which acquires around 20% of the shares (English, Swedish).

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News from Swedish startups, the tech sector and VCs

  • 20 year old Swedish entrepreneur Elis Hodzic was recognized on the "Best young entrepreneurs in 2022" list published by fintech Wise (formerly Transferwise). Hodzic is co-founder of HappyLife, Stockholm-based startup that offers seniors non-medical in-home services on demand (Swedish, machine translation).
  • Propel Capital, the seed investment unit operated by Sting, closed its 6th fund at SEK30M (€3M, $3M), raised from 35 business angels and Saminvest. The fund will invest in Sweden-based startups within the fields sustaintech, healthtech, deeptech and digital innovation (English, Swedish).
  • J12 Ventures has recruited Caroline Hultman as new Stockholm-based early-stage investor (English).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm