News February 11: Shewy, Volta Trucks, Acast and more

Here is today's curation of news from Sweden's startup and tech sector, as well as some interesting reads, exclusively for subscribers of Swedish Tech News.

>>> Receive a daily newsletter with the latest updates from the Swedish startup & tech sector, curated by Martin Weigert. Try it out one month for free, cancel anytime. Subscribe here.  

If you prefer a free weekly newsletter, sign up for Swedish Tech Weekly.

Do you have news that might be relevant? Send an email to news@swedishtechnews.com.

Financing rounds

  • Shewy (Stockholm, subscription service for functional sugar free chewing gum): SEK6M (€570K, $650K) from angel investors (English, Swedish).

News from Swedish startups, the tech sector and VCs

  • Volta Trucks, Swedish electrical truck startup, built the first out of 24 planned prototype vehicles at its plant in the UK. It just visited Stockholm and is now driving from Stockholm to the North of Sweden. Mass production is expected to start in the end of 2022 in Austria (English, Swedish).
  • Stockholm-based podcast company Acast released its latest earnings report, showing net sales of SEK1,026M in 2021, an increase of 73% compared to the year before. For the first time, the company recorded more than one billion listens for its network of podcasts during a quarter, and says it's profitable in the Swedish and UK market (English, Swedish).

Other interesting things from the startup/VC world & beyond

  • In 2021, climate tech startups raised $40B across 600+ venture deals (English).
  • A challenge and task for even the most early-stage b2b web3 startups: treasury management (English).
  • How many name brand VCs does a startup need these days? 1 is probably enough (English).
  • Spotify has an intensely delicate path through which it must find its way (English).

Other interesting things from Sweden

  • Chinese EV maker XPeng Motors is launching on the Swedish market with an "Experience Store" in Stockholm and a collaboration agreement with automotive distributor Bilia (English).

+++

That's it for today.

Martin Weigert

Martin Weigert

Stockholm