News Jan 9: Posterton, C-Green, Omocom, Anyfin, CAKE and more

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

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The first full "back to work" week in 2023 is starting a bit slow. No announced funding news today.

Mergers & acquisitions

  • Posterton (Stockholm, online store for posters) is being acquired by the Swedish holding company THis Group for SEK65M (€5.8M, $6.2M) in stock, plus additional cash (English, Swedish).

News from Swedish startups, the tech sector and VCs

  • Stockholm-based startup C-Green, which develops technology to convert wet biowaste into solid hydrochar, signed a cooperation agreement with the environmental company Ragn-Sells, with the goal of establishing 8–10 C-Green biorefineries in the coming years. The first facility will be located outside Norrköping and become operational in 2023 (English).
  • Omocom, Stockholm-based provider of on-demand microinsurance for the circular economy, has received approval to offer its services in the UK, the company's 14th market (English, Swedish).
  • Anyfin, Stockholm-based consumer finance app which is available in Sweden and 3 other European countries, says its app has been downloaded 1 million times (English).
  • From the "eat your own dogfood" department: Sinje Gottwald, who works in Barcelona for Swedish electric motorcycle startup CAKE, is crossing the African Continent on one of the company's motorcycles (English).

Other interesting things from the startup/VC world & beyond

  • North American startup investment fell by a whopping 63% in Q4 2022 compared to Q4 2021 (English). Also: The US startup M&A market in Q4 2022 was one of the quietest in the last 20 years. It rivals the dotcom bust & Global Financial Crisis for its paucity (English).
  • OpenAI is reportedly in talks to sell existing shares in a tender offer that would value the company at around $29B (English / WSJ paywall, alternative URL).
  • A list of impressive things accomplished by small teams (English).
  • AI-based digital twin technology will be used in Swedish schools to simulate the effect of initiatives and measures aimed at preventing bullying (Swedish, machine translation).
  • Only around 10 percent of the plastic that is thrown away in Sweden is recycled into new plastic. The rest is burned to become energy – contributing to 8% of Sweden's climate emissions (Swedish, machine translation).
  • After Russia's invasion of Ukraine last year, usage of cash notes in Sweden went up by almost 8 percent, which is the biggest increase in over 20 years (English).


That's it for today.

Martin Weigert

Martin Weigert