News July 7: Instabox, DH Anticounterfeit, Again, Hack your closet, Spotify, The Drop and more

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

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Funding news

  • Instabox (Stockholm, last-mile delivery and smart locker provider): SEK100M (€9.3M, $9.5M) via a convertible note from Swedbank Robur Alternative Equity (English, Swedish).
  • DH Anticounterfeit (Halmstad, SaaS solution for brand protection): SEK15M (€1.4M, $1.4M) from Innovum, Halland Invest, Backstage Invest and Entreprenörinvest (Swedish, machine translation).
  • Again (Stockholm, mobile app that encourages brands to reduce climate emissions in return for consumer data, while paying cash to consumers): undisclosed amount from angel investors such as Per Emanuelsson, Björn Melinder, Fredrik Granström, Lars Bergström and Tord Lendau (English, Swedish).
  • In a follow-on investment, Creandum participated in a $120M Series C round raised by UK-based employee insurance provider YuLife (English).

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News from Swedish startups, the tech sector and VCs

  • Hack your closet, Stockholm-based circular subscription service for clothes founded in 2019, has filed for bankruptcy. The company raised a total of around SEK24M (€2.2M, $2.3M) (Swedish, machine translation).
  • Sifted profiles 5 European startups "building the Teslas of the sea", including 2 Swedish protagonists: X Shore and Candela (English).
  • A major reason for why Spotify decided to become a sponsor of FC Barcelona (for reportedly $310M): The football team has particularly many supporters in Latin America and Asia, which are regions where Spotify grows rapidly, says Chief Freemium Business Officer Alex Norström (Swedish / DI Digital paywall).
  • The Drop is a new climate tech conference organized by a collection of climate funds, local community initiatives and creative teams, that will take place in Malmö on September 21 2022 (English).

Other interesting things from the startup/VC world

  • San Francisco- and Berlin-headquartered VC firm Headline has raised its seventh European fund of €320M ($326M) to back European B2B and B2C startups from seed to Series A (English).
  • What’s it like to have one's startup acquired by one of the tech giants (English).
  • Lots of advice for tech folks in mid to senior roles on onboarding to a new role effectively (English).


That's it for today.

Martin Weigert

Martin Weigert