News December 16: Curest, MyMOWO, Aerit, Candela, Fenix and more

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

This post has been unlocked and made available for free a month after publication.

Subscribe to Swedish Tech News to get access to a daily newsletter that brings you a brief overview of news from the Swedish startup & tech sector, curated by Martin Weigert.

Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!

Funding news

  • Curest (LuleĂĄ, VR-based rehabilitation solutions to treat neck-related injuries): SEK8M (€720K, $770K) from Fort Knox, Saminvest and unspecified existing shareholders (Swedish, machine translation).
  • MyMOWO (Ă–stersund, subscription app for location-independent fitness exercises): SEK4M (€360K, $385K) from Entreprenörinvest Sverige. Other unspecified new and existing investors participated as well. The company says it has 40,000 registered users. Last year, MyMOWO's revenue crossed the SEK6M mark (Swedish / Ă–P paywall).

>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups.

News from Swedish startups, the tech sector and VCs

  • Aerit, Stockholm-based sustainable drone delivery startup, completed a pilot project with grocery chain ICA to offer grocery drone delivery across a 100 square kilometer (38 square mile) area in Norrtälje, Sweden. Aerit plans to launch continuous delivery services in select areas around Sweden next year (English).
  • The carbon footprint of the electric hydrofoil ferry developed by Swedish startup Candela – which will be tested in Stockholm next year – over a life cycle of 30 years is 97.5% smaller than of a comparable diesel ferry. That's according to a new KTH study cited by Candela in a press release (Swedish, machine translation).
  • Fenix, Stockholm-based digital provider of funeral services, is broadening its approach, aiming to offer tools for "generational planning", which also includes financial services (Swedish / Breakit paywall).
  • Newly minted VC at byFounders, Magnus Hambleton, who during his previous work with product and growth at Natural Cycles focused on machine learning, penned a blog post outlining his thoughts on the state and future of AI (English).
This week, I've added 7 new Swedish early-stage tech startups to my subscriber-exclusive tracker (log in with your subscriber email).

Other interesting things from the startup/VC world & beyond

  • Cherry Ventures' memo for founders on the 2023 market outlook (English).
  • OpenAI expects to generate $1B in revenue by 2024 (English).
  • McKinsey published a report on the state of AI in 2022, including a review of the past years (English).


That's it for today.

Martin Weigert

Martin Weigert