News July 21, 2022: Kry, Normative, Meela, Sinch, Hopsworks, memmo, Zebrain, The Inner Foundation and more

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

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Funding news

  • Kry (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).
  • Normative (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).
  • Meela (Gothenburg, personalized therapy for women): undisclosed amount from The Inner Foundation (English / Bloomberg paywall, alternative URL, Swedish).
  • Creandum led a $18.6M Series A funding round raised by Czech startup Better Stack, provider of observability tools for shipping better software faster (English).

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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 announced that CEO Oscar Werner is stepping down with immediate effect. Co-founder Johan Hedberg will act as interim CEO (English). Alongside its quarterly report which was published today, the company also announced cost cutting measures (English).
  • Hopsworks, Stockholm-based AI platform, launches a serverless Python-centric feature store for machine learning, in what it describes as an "industry first" (English).
  • memmo, 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, machine translation).
  • A brief profile of Zebrain, 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).
  • 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 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, a startup offering personalized therapy for women (English / Bloomberg paywall, alternative URL, Swedish).

Swedish tech earnings reports

  • Quickbit (Stockholm, crypto exchange): English.
  • Viaplay (Stockholm, streaming service for movies, shows and sports): English.
  • Litium (Stockholm, cloud-based digital commerce platform): Swedish, machine translation.
  • Funnel (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 / 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).
  • 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).


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: