News June 16, 2022: Zcooly, Lysa, Kavall, Happie Camp, Truecaller, Aline, Spotify, Readly, Amazon and more

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

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Mergers & acquisitions

  • Zcooly (Gothenburg, game-based learning app for children) acquires Stockholm-based company Peppy Pals, creator of apps and books that nurture children's social & emotional intelligence (EQ) through story-telling. Financials were not disclosed (Swedish, machine translation).

Funding news

  • Lysa (Stockholm, robo advisor): SEK350M (€33M, $34M) in a funding round led by Nicklas Storåkers, with participation from SEB Venture Capital and Ramsbury (English, Swedish).
  • Kavall (Stockholm, hyper-local rapid grocery delivery service): SEK22M (€2.1M, $2.2M) from Nordic Angels and Bring Ventures (English, Swedish).
  • Happie Camp (Karlstad, online service for booking accommodation in pre-rigged camps along the Swedish countryside): SEK6M (€560K, $580K) from Södra Ädla and other undisclosed investors (English).

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News from Swedish startups, the tech sector and VCs

  • Truecaller is the new main sponsor of AIK, one of Stockholm's 3 mayor football teams (English). Here's a photo of co-founder and CEO Alan Mamedi in the new jersey.
  • Aline, Stockholm-based learning experience platform co-founded and led by Innocent Mugenga, was selected by Google for Startups for its second Black Founders Fund in Europe, "out of 700+ applicants", according to co-founder and CEO Innocent Mugenga. Aline will receive $100K in equity-free cash and up to $200K in Cloud Credits (English).
  • Spotify will reduce hiring by 25 percent (English).
  • Readly, Växjö-based subscription service for digital magazines, is integrating podcasts associated with magazines from selected publishers into its offering (Swedish, machine translation).
  • Amazon is bringing its "Prime Day" to Sweden on July 12 and 13 (Swedish, machine translation).

Other interesting things from the startup/VC world & beyond

  • The VC firm True Global Ventures 4 Plus, which lately invested in several Swedish web3 startups and is headquartered in Singapore, announced the closing of a $146M "follow-on" fund for web3 investments (English).
  • What should startup employees do with options during a downturn? (US-centric regarding taxation, but possibly still an informative read) (English).

Other interesting things related to Sweden

  • Sweden drops from #2 to #4 in this year's World Competitiveness Ranking by the IMD Business School. Denmark overtakes Switzerland as new champion (English / Bloomberg paywall, alternative URL).
  • Swedish estate agents call a buyer’s market (English / The Local paywall, alternative URL).


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: