Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News.
Subscribe to Swedish Tech News to get access to a daily newsletter that brings you a brief overview of news from the Swedish startup & tech sector, curated by Martin Weigert.
Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!
- Saveabl. (Gothenburg, sustainable meal kits made with surplus raw ingredients): undisclosed amount from angel investors Gabriela Saavedra and Micael Wiklander, for 17% of the company. The money will be used for the domestic expansion (Swedish, no machine translation available).
- In a follow-on investment, Alfvén & Didrikson participated in a $60M Series C round raised by UK-based electric vehicle subscription startup Onto (English)
>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. Access it here.
News from Swedish startups, the tech sector and VCs
- With its Q2 earnings report, Spotify overall exceeded expectations, but continues to be unprofitable. During the quarter, the company grew its monthly active users by 19 million to 433 million, 5 million above its own guidance. Paid users now stand at 188 million, up 6 million compared to Q1. The company also announced to stop manufacturing its US-only in-car entertainment hardware system Car Thing "based on several factors, including product demand and supply chain issues" (English).
- Klarna's recently launched open banking platform Kosma has secured German all-in-one finance management platform for business Airbank as one of its first publicly known customers (English)
Swedish tech earnings reports
- Spotify (Stockholm, audio streaming service): English.
- Bambuser (Stockholm, provider of technology for live video shopping): English, Swedish.
Other interesting things from the startup/VC world & beyond
- A framework for when to shut down a company (English).
- China startup funding plunges to 8-year low in Q2 (English).
That's it for today.