News February 1, 2024: Heart Aerospace, Fragsheet, Nenda, PluvioFlow, Medlo, CAKE, GoCiklo, Hypertype, Leya, Venture Cup, and more

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Funding news

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  • Heart Aerospace (Gothenburg, manufacturer of an electric regional airplane, founded 2018): $107M in Series B funding from new investor Sagitta Ventures, and existing investors Air Canada, Breakthrough Energy Ventures, European Innovation Council Fund, EQT Ventures, Lowercarbon Capital, Norrsken VC, United Airlines, and Y Combinator (English). No valuation is known. Di Digital reports that close to half of the cash had been obtained previously, but was only now converted into equity (Swedish / Di Digital paywall).
  • Fragsheet (Stockholm, platform for gamers to find other players and e-sports and gaming-related events, founded 2021): SEK7.8M (€690K, $750K) from angel investors and the marketing agency King. According to data registered with Bolagsverket (via Eivora), the funding was raised in several tranches at widely varying share prices, which is why I am unable to point out a definite valuation. This capital injection comes in addition to the SEK3.25M in funding which I covered in May 2023, bringing the total funding to roughly SEK11M. Breakit reports that Fragsheet has now 150,000 users, and is seriously starting to monetize its platform this year (Swedish, machine translation).
  • Nenda (Stockholm, streaming service for businesses, founded 2019): SEK7M (€620K, $670K) from angel investors Andreas Lind and Johan Hernmarck, as well as existing angel investors. The company cites operating 645 screens in commercial environments, reaching one million people per month (Swedish, machine translation). Total equity funding registered with Bolagsverket amounts to around SEK27M (including this new round which has not been registered yet). For 2022, Nenda reported net revenue of SEK2.6M (up 4x from 2021), and a loss of -SEK9.2M (vs -SEK8M in 2021). Funding news continue below...
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: