News January 24: Kognity, Zebrain, Care to Translate, Atium, Neovici, Carla and more

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

>>> Receive a daily newsletter with the latest updates from the Swedish startup & tech sector, curated by Martin Weigert. Try it out one month for free, cancel anytime. Subscribe here.  

If you prefer a free weekly newsletter, sign up for Swedish Tech Weekly.

Mergers & acquisitions

  • Kognity (Stockholm, developer of "intelligent" textbooks for the education sector) acquires UK-based global tutoring and online course company Elite IB. Financials were not disclosed (English, Swedish / DI Digital paywall).

Financing rounds

  • Zebrain (Stockholm, personalized platform for online-coaching): SEK27M (€2.6M, $3M) from By Wit (English, Swedish).
  • Care to Translate (Stockholm, medical translation app for healthcare professionals): SEK25M (€2.4M, $2.7M) in a funding round led by Provider Investment, with participation from new angel investors and existing investors (English, Swedish).
  • Atium (Gothenburg, developer of water treatment technologies): undisclosed amount in a pre-seed funding round led by Stena New Ventures, with participation from existing investors (English, Swedish).

News from Swedish startups, the tech sector and VCs

  • Neovici, Stockholm-based fintech providing a financial process automation platform, announced having won Mexico’s leading mobile telecom operator Telcel as customer (English, Swedish).
  • 🎧 Podcast interview with Patrik Illerstig, CEO and co-founder of Stockhlm-based online store for used electric vehicles Carla (Swedish, 38 minutes).
  • Swiss digital asset and cryptocurrency exchange Smart Valor is going to be publicly listed on Sweden's Nasdaq First North Growth Market (English, Swedish / DI Digital paywall).
  • Swedish VC firm Creandum is hiring a Principal in Berlin (English).

Other interesting things from the startup & VC world

  • London-based Sova VC announced Europe’s second-ever "liquidity" fund for founders and early employees that want to cash out early (English).
  • An investigation of a decade of tech IPOs, comprising of 166 companies, shows that capital has historically been vastly overrated as a predictor of startup success (English).

Other interesting things from Sweden

  • Once more, an app developer is going to be deported after over a decade in Sweden, due to an insurance policy mistake made by a previous employer (English).
  • A Swedish man nearing the retirement age happens to be the lucky owner of the domain meta.se, which could be worth millions (Swedish / SvD paywall, Swedish #2, machine translation).

+++

That's it for today.

Martin Weigert

Martin Weigert

Stockholm