News January 4, 2023: Qvantum, Sircular, Star Wine List, Astrid and more

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

This post has been unlocked and made available for free a month after publication.

Subscribe to Swedish Tech News to get access to a daily newsletter that brings you a brief overview of news from the Swedish startup & tech sector, curated by Martin Weigert.

Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!

Funding news

  • Qvantum (Malmö, developer and manufacturer of heat pumps for the next generation of heating and cooling technologies founded in 1993): €42M ($45M) in a Series B funding round led by Thomas von Koch (of EQT) and IMAS Foundation, with participation from Climentum, SEB Greentech, DIG Investment, Munters, Atlas Copco's CEO Mats Rahmström and existing shareholders Gullspång Invest and NEA Partners. The money will be used for completing a production facility in Sweden, and for market entries in the UK, the Netherlands, Germany and one more larger European country (English, Swedish / Di Digital paywall, Swedish #2).
  • Sircular (Stockholm, platform that helps investors connect with startups): SEK5.75M (€515K, $550K) from angel investors including Svante Tegnér, Moha Bensofia, Alexander Wallenberg and Simon Olson (Swedish / Breakit paywall).
  • Star Wine List (Stockholm, online guide to great wine bars & wine restaurants): SEK3M (€270K, $280K) from angel investors including Thomas Axelsson, Peter Grytterhielm, Sebastian Broms, Gustav Grundström and Catriona Forrester (Swedish, machine translation).

>> 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

  • Astrid, Stockholm-based AI-powered English learning solution for kids and teens, is partnering up with the country of Mongolia. The goal of a jointly developed project, which also "has received strong support from local partner companies," is to provide Astrid’s app "to every single young learner and English teacher in Mongolia" (English).
  • Norrsken is gearing up for its first impact meetup in Berlin (English).

Other interesting things from the startup/VC world & beyond

  • A "wave of would-be entrepreneurs" is emerging from the ashes of the mass job losses seen in Silicon Valley (English).
  • Salesforce to cut workforce by 10% after hiring "too many people" during the pandemic (English).
  • A recap of Latvia's startup funding activities in 2022 (English).


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: