News Jan 20: 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, GullspĂĄng 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).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm