News July 25: Atlantic Quantum, 360Player, Storage365, Stiksen, Kry, Tristan Harris and more

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

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Funding news

  • Atlantic Quantum (Gothenburg & Cambridge, MA, developer of scalable quantum computers): $9M in a seed funding round led by The Engine, with participation from Thomas Tull, Glasswing Ventures, Future Labs Capital and E14 (English).
  • 360Player (Stockholm, all-in-one sports platform for modern clubs): SEK25M (€2.4M, $2.4M) from undisclosed investors, at a valuation of SEK376M (€36M, $36M) (Swedish / DI Digital paywall).
  • Storage365 (Uppsala, market place for physical storage): SEK24M (€2.3M, $2.3M) from Pronordic, members of Storage365's leadership group, as well as angel investors such as football star Zlatan Ibrahimovic and Ann Grevelius, at a post-money valuation of SEK122M (€12M, $12M). The funding will be used to initiate the European expansion (English, Swedish).
  • Stiksen (Stockholm, D2C brand for premium caps): SEK2.5M (€240K, $240K) from angel investors Daniel Pilotti, Anders Jacobsson and Karl Prytz (English, Swedish).

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News from Swedish startups, the tech sector and VCs

  • DI Digital has additional details on Kry's $160M funding round which was announced last week: Around $60M came in the form of a convertible note, and around $100M is a credit facility from P Capital Partners (Swedish / DI Digital paywall).
  • Beata Klein, Stockholm-based investment manager at Creandum, has advice for startups on how to increase their chances to raise funding this fall. As many startups will try to raise at the same time, "you need a plan to stand out", she writes (English, Twitter thread).
  • The well-known US technology ethicist Tristan Harris, creator of the "Time Well Spent" movement, is coming to Norrsken House Stockholm for a one-off event on August 5 (English).

Swedish tech earnings reports

  • Kry (Stockholm, digital healthcare provider) generated a loss of almost SEK1.12B (€107M, $110M) in 2021, compared to SEK843M in 2020. Revenue doubled from 2020 to 2021, from SEK780M to SEK1.48B, in part driven by the pandemic (Swedish / SvD soft paywall, Swedish #2, machine translation).
  • In 2019 Apple gave up on plans to open central Stockholm's first Apple Store at Kungsträdgården, following resistance from the city's government. The company expressed intentions to sell the property, but since then nothing has happened - it's still owned by the Californian company (Swedish, machine translation).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm