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# News January 19, 2023: Passwordless.dev, SunRoof, Scrintal, Quritis, VOI, Dynamic Code, Lexly, teen social networks, Realheart and more
- URL: https://www.swedishtechnews.com/news-jan-19-2023/
- Published: 2023-01-19T15:59:58.000Z
- Updated: 2023-09-24T14:42:45.000Z
- Description: Here are today's news from Sweden's startup and tech sector, sent as daily email newsletter exclusively to subscribers of Swedish Tech News.
- Author: Martin Weigert
- Tags: Daily (PRO), passwordless.dev, SunRoof, Scrintal, Voi, VNV Global, Dynamic Code, lyckli, Lexly, realheart, Spotify, world fund, nordic alpha partners, l&g capital, Spintop Ventures, Icebreaker.vc, trellis road, Norrsken VC, Mudcake, exits

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

💡

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### Mergers & acquisitions

- [Passwordless.dev](https://www.passwordless.dev/) (Malmö, provider of WebAuthn APIs to support secure password logins) was acquired by US-based open source password management platform [Bitwarden](https://bitwarden.com). Financial terms were not disclosed. The service was founded by Anders Åberg, launched around 2 1/2 years ago and had not raised any external funding ([English](https://techcrunch.com/2023/01/18/bitwarden-acquires-passwordless-dev-to-help-companies-authenticate-users-without-passwords/), [Swedish](https://www.breakit.se/artikel/35681/kodade-gratis-i-5-ar-nu-kops-det-upp-av-amerikanska-jatten-bitwarden)).

### Funding news

- [SunRoof](https://sunroof.se/) (Stockholm, custom-engineered solar roofs): €13.5M ($14.6) extension round from a syndicate of European climate tech investors, including World Fund, Nordic Alpha Partners, and L&G Capital. The company will use the funds to drive its expansion plans across the Nordics, Germany as well as in the US ([English](https://techfundingnews.com/amid-energy-crisis-e13-5m-funding-for-solar-roofs-that-can-light-up-entire-buildings/), [Swedish](https://www.breakit.se/artikel/35658/solcellsbolaget-sunroof-vill-gasa-annu-snabbare-plockar-in-150-miljoner) / *Breakit paywall*).
- [Scrintal](https://www.scrintal.com/) (Stockholm, visual note-taking and collaboration tool): €1M ($1.1M) in a funding round led by Spintop Ventures, and joined by existing investor Icebreaker.vc ([English](https://techcrunch.com/2023/01/18/scrintal-raises-1-million-for-its-visual-collaboration-tool/)).
- [Quritis](https://quritis.com/) (Stockholm, automated tool to help harden the security for cloud-based applications that run within containerized software, such as Docker): SEK3M (€270K, $290K) from angel investors Johan Qviberg, Simon Josefsson, Jimmy Lundström and Christopher Suarez ([Swedish](https://www.breakit.se/artikel/35622/nyemissioner-i-startups-folj-vart-flode-med-alla-nya-rundor) / *Breakit paywall*).
- Trellis Road participated in a €1.2M ($1.3M) pre-seed round raised by German-Brazilian startup [InPlanet](https://inplanet.earth/). The company specializes in large-scale removal of CO2 from the atmosphere through Enhanced Rock Weathering ([English](https://inplanet.earth/inplanet-raises-1-2m-in-pre-seed-round-for-enhanced-rock-weathering-in-the-tropics/)).
- In a follow-on investment, Norrsken VC led a €2M ($2.2M) funding round raised by Estonian sustainable investment platform [Grünfin](https://www.grunfin.com/) ([English](https://arcticstartup.com/grunfin-raises-e2m/)).

\>> Daily updated, subscriber-exclusive [Google sheet](https://docs.google.com/spreadsheets/d/19CzBwRojH%5FK8zin277bpLJ8KCgEUp2AWw%5F%5FJuFUujAs/edit?usp=sharing) with all funding rounds raised by private Swedish startups and scaleups. 

### News from Swedish startups, the tech sector and VCs

- [VNV Global](https://vnv.global/), biggest investor in [VOI](https://www.voi.com), massively wrote down the valuation of the Swedish e-scooter company again, this time by 40% compared to Q3 2022, to SEK3.7B (€330M, $360M). This represents an EV/Revenue multiple of 3.3, down from 6.3 ([Swedish](https://www.di.se/digital/miljarder-upp-i-rok-nar-agaren-skriver-ner-vardet-pa-voi/) / *Di Digital paywall*).
- [Dynamic Code](https://www.dynamiccode.com/se/), Linköping-based provider of end consumer health and diagnostic tests, is laying off around 20 employees and pausing its activities on the German market ([Swedish](https://www.di.se/digital/covid-bolaget-tvingas-till-sparpaket-efter-intaktsras/), [machine translation](https://www-di-se.translate.goog/digital/covid-bolaget-tvingas-till-sparpaket-efter-intaktsras/?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)).
- Last Monday I [covered](https://www.swedishtechnews.com/news-jan-10-2023/) the launch of Swedish teen-focused, poll-based social networking app [LYCKLI](https://www.lyckliapp.com/). The sector appears to be hot: Earlier this week Discord [announced](https://www.theverge.com/2023/1/17/23558563/discord-gas-app-social-media-acquisition) having acquired US-based social app [Gas](https://www.linkedin.com/company/gas-app/about/), which LYCKLI clearly was inspired by (one more [Swedish clone](https://erikdestefanis.substack.com/p/swedish-startup-clones)). Today, the reportedly fast growing Germany-based compliments app for teens [Slay](https://www.slay.cool/) [announced](https://techcrunch.com/2023/01/19/german-teens-went-crazy-for-this-compliments-app-and-now-vcs-are-backing-its-next-phase/) a €2.5M pre-seed funding round led by Accel.
- [Lexly](https://lexly.se/), Stockholm-based provider of online legal services, is launching in Norway ([Swedish](https://news.cision.com/se/lexly/r/lexly-ska-hjalpa-norska-kunder-med-juridiken---lanserar-nu-i-norge,c3699668), [machine translation](https://news-cision-com.translate.goog/se/lexly/r/lexly-ska-hjalpa-norska-kunder-med-juridiken---lanserar-nu-i-norge,c3699668?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)).
- [Realheart](https://realheart.se/), publicly listed Västerås-based medtech company, and KTH have developed a patient simulator to test the algorithm that controls the company's artificial heart ([English](https://news.cision.com/real-heart/r/realheart-and-kth-optimize-artificial-heart-function-in-sweden-s-first-patient-simulator,c3699703)).
- [Spotify](http://www.spotify.com) and a group of European companies are calling on the European Commission to take “swift and decisive action” against Apple over what they describe as anti-competitive practices that have hampered their businesses ([English](https://www.theverge.com/2023/1/18/23560431/spotify-basecamp-deezer-apple-app-store-european-commission)).

### Swedish tech earnings

- [VNV Global](https://vnv.global/) (Stockholm, investment company) published its Q4 2022 interim report ([English](https://www.vostoknewventures.com/investor-relations/press-releases/?slug=vnv-global-ab-publ-financial-report-for-the-fourth-quarter-and-the-twelve-month-period-2022)).

### Other interesting things from the startup/VC world & beyond

- [Sequoia Capital](https://www.sequoiacap.com/) launched a $195M dedicated seed fund, its fifth. The vehicle will be used to back founders across the United States and Europe ([English](https://techcrunch.com/2023/01/18/sequoia-capital-195-million-seed-pre-seed-fund/)).
- Last year, US startups with all-women teams received 1.9% of venture capital invested. That's down from 2.4% in 2021\. Mixed teams raised 17.2% of the funding ([English](https://techcrunch.com/2023/01/18/women-founded-startups-raised-1-9-of-all-vc-funds-in-2022-a-drop-from-2021/)). That's bad but outperforms Sweden significantly nevertheless.
- How to explain a (potentially complicated sounding) startup idea to investors in the best possible way, that’s super easy to understand ([English](https://projectarrow.substack.com/p/how-to-position-your-startup-when)).

+++

That's it for today.