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# News July 21, 2022: Kry, Normative, Meela, Sinch, Hopsworks, memmo, Zebrain, The Inner Foundation and more
- URL: https://www.swedishtechnews.com/news-july-21-2022/
- Published: 2022-07-21T15:00:16.000Z
- Updated: 2023-08-16T14:01:22.000Z
- 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), Normative, Meela, sinch, hopsworks, memmo, zebrain, The Inner Foundation, Pär-Jörgen Pärson, annika sten pärson, quickbit, viaplay, litium, Funnel, Kry, teacher's venture growth, P Capital Partners, Index Ventures, Accel, Creandum, Project A, Blume Equity, horizons ventures, future five, 2150.vc

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

💡

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### Funding news

- [Kry](https://kry.health/) (Stockholm, digital healthcare provider): $160M in debt and equity in a follow-on round from its Series D, from Teachers’ Venture Growth, P Capital Partners and existing investors Index Ventures, Accel, Creandum and Project A ([English](https://12ft.io/proxy?q=https%3A%2F%2Fsifted.eu%2Farticles%2Fkry-raises-160m%2F)).
- [Normative](https://normative.io/) (Stockholm, carbon accounting engine): €31M ($32M) in a Series B funding round led by Blume Equity, with participation from new investor Horizons Ventures and existing investors Future Five, ETF Partners and 2150 ([English](https://siliconcanals.com/news/startups/stockholm-normative-bags-31m/)).
- [Meela](https://meelahealth.com/) (Gothenburg, personalized therapy for women): undisclosed amount from The Inner Foundation ([English](https://www.bloomberg.com/news/articles/2022-07-21/early-spotify-backer-puts-101-million-in-mental-health-venture#xj4y7vzkg) / *Bloomberg paywall*, [alternative URL](https://archive.ph/GLkwA), [Swedish](https://www.breakit.se/artikel/33784/paret-parson-satsar-1-miljard-pa-mental-halsa-vet-hur-stor-paverkan-entreprenorer-kan-ha)).
- Creandum led a $18.6M Series A funding round raised by Czech startup [Better Stack](https://betterstack.com/), provider of observability tools for shipping better software faster ([English](https://tech.eu/2022/07/21/better-stack-nets-186-million-to-help-developers-in-building-better-internet/)).

\>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. [Request access](https://docs.google.com/spreadsheets/d/1a4JfphPOita15GMQBONzOHQwtkClDHubEkMkpF1b8eM/edit?usp=sharing).

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

- In the wake of a 90% stock price collapse, Stockholm-based mobile engagement communications platform [Sinch](http://www.sinch.com) announced that CEO Oscar Werner is stepping down with immediate effect. Co-founder Johan Hedberg will act as interim CEO ([English](https://www.globenewswire.com/news-release/2022/07/20/2483088/0/en/Sinch-initiates-search-for-new-CEO.html)). Alongside its quarterly report which was published today, the company also announced cost cutting measures ([English](https://www.globenewswire.com/news-release/2022/07/21/2483310/0/en/Interim-Report-January-June-2022.html)).
- [Hopsworks](https://www.hopsworks.ai/), Stockholm-based AI platform, launches a serverless Python-centric feature store for machine learning, in what it describes as an "industry first" ([English](https://www.globenewswire.com/news-release/2022/07/20/2483021/0/en/Hopsworks-3-0-The-Feature-Store-goes-Serverless.html)).
- [memmo](https://memmo.me), Stockholm-based provider of personalised greeting messages from celebrities, which a few weeks ago announced laying off around 40 % of its workforce, is looking to raise new funding ([Swedish](https://www.breakit.se/artikel/33773/snabb-tillvaxt-och-stora-forluster-for-varslande-memmo-som-har-ny-storrunda-pa-gang), [machine translation](https://www-breakit-se.translate.goog/artikel/33773/snabb-tillvaxt-och-stora-forluster-for-varslande-memmo-som-har-ny-storrunda-pa-gang?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)).
- A brief profile of [Zebrain](https://www.zebrain.se), Stockholm-based personalized online coaching platform that aims to "democratize professional and personal development" for employees, according to CEO and co-founder Anna Bloth Karling ([English](https://www.techarenan.news/2022/07/20/zebrain-helping-all-workers-unleash-their-potential-through-digital-coaching/)).
- Swedish VC Pär-Jorgen Pärson, famous for his early Spotify investment, and his wife Annika Sten Pärson, active as social entrepreneur, board member & impact investor, have launched the non-profit organization [The Inner Foundation](https://www.theinnerfoundation.org/) and funded it with €100M ($101M). The initiative focuses on improving the mental well being of young adults and has already made a number of investments, among them one in Gothenburg-based [Meela](https://meelahealth.com/), a startup offering personalized therapy for women ([English](https://www.bloomberg.com/news/articles/2022-07-21/early-spotify-backer-puts-101-million-in-mental-health-venture#xj4y7vzkg) / *Bloomberg paywall*, [alternative URL](https://archive.ph/GLkwA), [Swedish](https://www.breakit.se/artikel/33784/paret-parson-satsar-1-miljard-pa-mental-halsa-vet-hur-stor-paverkan-entreprenorer-kan-ha)).

### Swedish tech earnings reports

- [Quickbit](https://www.quickbit.com/) (Stockholm, crypto exchange): [English](https://news.cision.com/quickbit-eu-ab/r/quickbit-publishes-year-end-report-2021-2022,c3603766).
- [Viaplay](https://viaplay.se/) (Stockholm, streaming service for movies, shows and sports): [English](https://news.cision.com/viaplay-group/r/q2-2022-interim-report-january-june,c3603783).
- [Litium](https://www.litium.se) (Stockholm, cloud-based digital commerce platform): [Swedish](https://www.ipohub.io/companies/litium-ab/news/litium-q2-rapport-2022-fortsatt-stabil-tillv%C3%A4xt-och-genombrott-internationellt-210720220601), [machine translation](https://www-ipohub-io.translate.goog/companies/litium-ab/news/litium-q2-rapport-2022-fortsatt-stabil-tillv%C3%A4xt-och-genombrott-internationellt-210720220601?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp).
- [Funnel](https://funnel.io/) (Stockholm, marketing data analysis platform) generated sales of SEK175M in 2021, but also an operating loss of SEK174M. Both key figures increased by approx. 45% compared to 2020 ([Swedish](https://www.breakit.se/artikel/33769/funnel-fortsatter-att-gasa-mot-borsen-stor-okning-av-bade-omsattning-och-forluster) / *Breakit paywall*).

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

- In the current environment in which many VCs are scared, "a founder willing to play into an investor’s need for certainty is a founder that’s going to come away with a deal" ([English](https://blog.aaronkharris.com/vcs-are-scared-when-they-should-be-greedy)).
- New startups are "default global". Thus, the software stack for a default global company’s functions needs to be international from the start in order to better integrate everything from local employment law and talent sourcing to multi-country incorporation and expense management ([English](https://a16z.com/2022/07/20/the-company-of-the-future-is-default-global/)).

+++

That's it for today.