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# News July 12, 2022: Spotify, TicTac, Xenergic, Hedvig and more
- URL: https://www.swedishtechnews.com/news-july-12-2022/
- Published: 2022-07-12T15:00:28.000Z
- Updated: 2023-07-21T11:47:02.000Z
- Description: Here is today's curation of news from Sweden's startup and tech sector, as well as some interesting reads, exclusively for subscribers of Swedish Tech News.
- Author: Martin Weigert
- Tags: Daily (PRO), tictac, xenergic, Klarna, Hedvig, Spotify, EIC Accelerator

Here is today's curation of news from Sweden's startup and tech sector. 

💡

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### Mergers & acquisitions

- [Spotify](http://www.spotify.com) (Stockholm, audio streaming service) acquired Wordle-inspired music trivia game [Heardle](http://www.heardle.app). The acquisition price was not disclosed. The game, which has "millions of current players", remains a standalone website for now ([English](https://www.theverge.com/2022/7/12/23205078/spotify-heardle-acquisition-music-discovery-wordle-game)).
- [TicTac](https://tictaclearn.net/) (Malmö, provider of corporate e-learning solutions) acquires German provider of digital learning solutions [Interlake](https://interlake.net). Financials were not disclosed ([English](https://tictaclearn.net/tictac-learn-acquire-interlake-learning-gmbh/), [Swedish](https://www.di.se/digital/tog-over-litet-utbildningsbolag-anvands-av-over-miljonen/)).

### Funding news

- [Xenergic](http://www.xenergic.com/) (Lund, low-power memory solutions for integrated circuits): €2.5M ($2.5M) grant through the European Union's EIC Accelerator ([Swedish](https://www.mynewsdesk.com/se/xenergic-ab/pressreleases/xenergic-tilldelas-omkring-25-miljoner-euro-av-europeiska-innovationsraadet-3187858), [machine translation](https://www-mynewsdesk-com.translate.goog/se/xenergic-ab/pressreleases/xenergic-tilldelas-omkring-25-miljoner-euro-av-europeiska-innovationsraadet-3187858?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)).

### News from Swedish startups, the tech sector and VCs

- Breakit published a list of all the major Klarna investors and how much the value of their shares has decreased between 2021 and 2022 ([Swedish](https://www.breakit.se/artikel/33692/har-ar-de-stora-forlorarna-i-klarna-namn-for-namn), [machine translation](https://www-breakit-se.translate.goog/artikel/33692/har-ar-de-stora-forlorarna-i-klarna-namn-for-namn?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)).

### Swedish tech earnings reports

- [Hedvig](https://www.hedvig.com/) (Stockholm, digital insurance provider) accumulated a loss of SEK181M (€17M, $17M) during 2021, mostly due to costs for marketing and investments in the technical platform. The company says the result is totally in line with the plan ([Swedish](https://www.breakit.se/artikel/33688/brakforlust-for-hedvig-tyngs-av-skyhoga-kostnader) / *Breakit paywall*).

### Other interesting things from the startup/VC world

- German insurtech startup [Wefox](https://www.wefox.com/en-de) has raised a $400M Series D, increasing its post-money valuation from $3B last year to $4.5B today ([English](https://techcrunch.com/2022/07/11/wefox-grabs-400m-at-4-5b-valuation-to-buck-the-insurtech-downturn-trend/)).
- Global VC fund [Cathay Innovation](https://cathayinnovation.com/) has revealed its newest fund, totaling €1B, aimed at supporting startups from across the world working in enterprise software, AI, fintech, digital health, new mobility, retail, and energy sectors ([English](https://tech.eu/2022/07/12/cathay-innovation-goes-all-in-on-sustainability-with-eur1-billion-fund/)).
- The founder as the shock absorber for the startup ([English](https://davidcummings.org/2022/06/25/founder-as-shock-absorber-for-the-startup/)).

+++

That's it for today.‌