News July 18, 2022: Acast, MOVS, Kavalri Games, Stark Future, Zimpler, Bärta and more

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

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Mergers & acquisitions

  • Acast (Stockholm, podcasting platform) is acquiring US-based startup Podchaser, described as "world’s most comprehensive and authoritative podcast database". Acast pays $27.2M in a mix of cash (85%) and newly issued shares. The deal also includes potential add-ons of up to $6.8M based on an earnout (English, Swedish).

Funding news

  • MOVS (Stockholm, subscription service for bikes, e-bikes, e-scooters and e-mopeds): SEK45M (€4.3M, $4.3M) from Svea Bank, Jula Holding and existing investors, at a valuation of SEK200M, for the European expansion (Swedish, machine translation).
  • Kavalri Games (Stockholm, game studio focused on horse games): SEK7M (€660K, $660K) from existing investors Amplifier Game Invest and Coffee Stain Studios. This financing was raised in February 2022 but hasn't been announced until now (Swedish, machine translation).

>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. Request access.

News from Swedish startups, the tech sector and VCs

  • Swedish entrepreneur Anton Wass co-founded Barcelona-based next-generation electric motorcycle startup Stark Future, which is gearing up for production of its first motocross bike - for which the company has 13,000 pre-orders (Swedish, machine translation).
  • Zimpler, Stockholm-based provider of account-to-account payment solutions for merchants, is launching in Norway – the company's 8th market (English, Swedish).
  • Bärta, Karlshamn-based foodtech startup producing pea-based vegan and organic foods, is running an equity crowdfunding campaign aiming to raise SEK11M-SEK15M, and has received additional commitments from existing investors Kale United and Almi Invest (Swedish, machine translation).

Swedish tech earnings reports

Other interesting things from the startup/VC world

  • Stripe is the latest fintech to falter, taking a 28% internal valuation cut (English).
  • Tiger Global: The poster child of the tech meltdown (English).
  • "We need energy for more useful things than Bitcoin, to be honest. We are moving from a period of administration to an extreme expansion where our entire manufacturing industry is seeking to electrify", says Sweden's Energy Minister Khashayar Farmanbar (English / Bloomberg paywall, alternative URL).
  • 10 years ago, researchers at Umeå University discovered a tree on Fulufjället in Sweden near the border with Norway that turned out to be 9 500 years old – likely the world's oldest tree (English).
  • As of August 1, operators in Sweden are required by law to register personal customer data before activating a new prepaid SIM card, as a measure intended to fight organized crime (Swedish, machine translation).

End note

Swedish Tech News now has a neat tag-based search feature. You can use it to quickly find news from a specific Swedish startup or tech company. The archive goes back to early 2022 when I started Swedish Tech News.


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: