News March 10: Tibber, Mevia, Spotify, Tink, Rocker, Almi Invest & more

Here is today's curation of news from Sweden's startup and tech sector, as well as some interesting reads.

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Financing rounds

  • Tibber (Stockholm and Norway, smart energy company): $100M in a Series C round led by Summa Equity, with participation from previous investors Balderton Captial, Eight Roads Ventures, and Schibsted Ventures (English, Swedish).
  • Mevia (Gothenburg, developer of solutions to solve the problem of non-adherence): undisclosed amount from existig investor Chalmers Ventures (Swedish, machine translation).

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News from Swedish startups, the tech sector and VCs

  • Spotify has suspended its premium service in Russia, a move expected to result in a loss of about 1.5M paying customers in the first quarter of 2022 (English).
  • Visa's €1.8B acquisition of Stockholm-based open banking provider Tink, which was announced in June 2021, has been completed (English).
  • Stockholm-based neobank Rocker announced the company's co-founder Jonas Hultin as new CEO (Swedish, machine translation).
  • Last mile delivery companies Budbee, Foodora and Wolt face cost pressure due to rapidly rising fuel prices (Swedish, no machine translation available).
  • Last year, state-owned investment firm Almi Invest injected SEK437M (€40M, $45M) - the highest amount ever - in 192 Swedish startups. It also made SEK269M through exits from 48 companies (Swedish, machine translation).

Other interesting things from the startup/VC world & beyond

  • Danish digital banking startup Lunar raised a €70M Series D extension from previous backers (English).
  • European specialist VC fund FOV Ventures announced its first close of €16.5M of its €25M target fund to invest in pre-seed and seed-stage companies working on the Metaverse (English).

Other interesting things from Sweden

  • In a Brooklyn popup store, IKEA uses Augmented Reality to create customizable showrooms (English).
  • And a chart to wrap up for today (source):

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm