News January 20, 2023: Wayout, Qoitech, Garden Glory, Loopeli, byFounders, Gordon Delivery, 11 new tech startups & much more

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

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Funding news

  • Wayout (Stockholm, IoT-enabled water purification system that can turn all kinds of source water, even seawater, into drinkable water): SEK60M (€5.4M, $5.8M) from new investors Climentum Capital, Gullspång Re:food and Raiven Capital, with participation from unspecified existing investors (Swedish, machine translation).
  • Qoitech (Lund, hardware and software solutions for design of energy-efficient products): undisclosed amount from Latour Future Solutions, for 21.9% of the company (English). This round was announced in the week before Christmas, showed up on my radar only now.
  • Garden Glory (Gothenburg, online store and brand for premium gardening products): SEK3.6M (€320K, $350K) from angel investor Jonas Bonde and other undisclosed investors (Swedish / Breakit paywall).
  • Loopeli (Stockholm, communication app to keep in touch with family, friends and relatives, across generational boundaries): SEK1.2M (€110K, $117K) from angel investors Lena Apler and Jonas Eriksson (Swedish / Breakit 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

  • Nordic VC firm byFounders published a report on Pre-Seed to Series A technology startups and VC in 2022 across the Nordics and Baltics (English).
  • Gordon Delivery, smart urban logistics provider for food home deliveries, is the latest protagonist to offer own its smart lockers for pickups: So far 6 of them can be found across Stockholm (Swedish, machine translation).
  • E-commerce sales in Sweden shrank in 2022 by 9% if only considering Sweden-based stores, and by 12% when including foreign stores – and that despite the high inflation (Swedish).
  • Breakit presented 3 female investors who will join the investor panel of this year's Shift initiative: Susana Meza Graham, Joo Sundström and Jennie Sinclair (Swedish, machine translation).

New Swedish tech startups

This week, I've added 11 Swedish early-stage tech startups to my subscriber-exclusive tracker.

Swedish tech earnings

  • Yubico (Stockholm & Palo Alto, provider of secure login solutions) increased revenue by 68% to SEK1.46B (€130M, $140M) in 2022, albeit boosted by the strong USD. Profit was SEK180M (Swedish / Di Digital paywall).
  • Avanza (Stockholm, finance and broker app) published its Q4 2022 interim and annual report (English).
  • Appspotr (Gothenburg, low-code app builder) published its Q4 2022 interim and annual report (Swedish, machine translation).

Other interesting things from the startup/VC world & beyond

  • Global fintech funding amounted to $75.2B in 2022, down 46% compared with 2021, but up 52% compared to 2020 (English). However, climate fintech startups secured $2.9B in VC funding, up from $1.2B in 2021 (English).
  • Techniques and small habits from 2 founders that other co-founders can use to strengthen their partnerships at any stage (English).
  • The British online newspaper The Independent published a guide to Malmö, calling it "Sweden’s trendy coastal metropolis" and "up-and-coming city" (English / The Independent paywall, alternative URL).


That's it for today.

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: