News March 17, 2022: Yabie, Nordtech, Ecotype, Pliance, Storytel and more

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

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Mergers & acquisitions

  • Yabie (Stockholm, flexible and mobile POS & payment platform) acquired Infrasec, Stockholm-based provider of cloud-based solutions for tax compliance & smart payments. Financial terms were not disclosed (Swedish, machine translation).

Financing rounds

  • Nordtech Group (Stockholm, acquirer of niche software companies): SEK1B (€96M, $106M) from around 20 unnamed existing investors (Swedish, machine translation).
  • Ecotype (Uppsala, simplifying nature information and digitalizing forestry): SEK8M (€760K, $850K) from VEQ and LRF Ventures (English, Swedish).

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News from Swedish startups, the tech sector and VCs

  • Pliance provides API-based anti money laundering automation for fintechs and other industries. Various high-profile corruption scandals among Swedish companies as well as the sanctions against Russia are fueling demand, says Siam Choudhury, CEO of the Stockholm-based startup (Swedish, machine translation).
  • Storytel, Stockholm-based audiobook and ebook subscription service, is laying off 100 out of its 700 employees (Swedish, machine translation).
  • Spotify is recruiting people to work on early-stage, experimental projects related to web3 and blockchain, according to two job ads (English / FT paywall, alternative URL).
  • Klarna's acquisition of PriceRunner, which was announced in November 2021, has reportedly been approved by Sweden's Financial Supervisory Authority (Swedish / DI Digital paywall)
  • Kim Fai Kok, Truecaller veteran, shares learnings after his first 12 months as professional angel investor (English / Sifted paywall, alternative URL).
  • Northern Swedish startups can now apply for SEK44M in innovation checks through Vinnova (English).
  • Orderhero, Stockholm-based digital solutions provider for restaurants, plans to go public on the Nasdaq First North Growth Market in April at a valuation of SEK55M (€5.3M, $5.8M) (Swedish, machine translation).
  • The European Space Agency and AI Sweden are opening a space lab in Gothenburg to work on AI in new space applications and applications for Earth observation (English).
  • E-commerce sales in Sweden dropped by 17% in February 2022 compared to the same period of 2021 (Swedish, machine translation).

Other interesting things from the startup/VC world & beyond

  • France-based Educapital raises Europe’s largest edtech fund at €100M, targeting €150M, to invest in 20 European edtech startups from post-seed to Series B, with Series A as the main target (English / Sifted paywall, alternative URL).
  • Investor appetite continues to grow for “restaurant tech” companies (English).

Other interesting things from Sweden

  • The latest Sustainable Brand Index for Sweden has been published. IKEA, Coop and Änglamark occupy the overall top 3. Swish scores the victory in the "Digital services" category, Matsmart ranks #1 in "E-commerce" (English).
  • Why is there a Swedish-speaking village in rural Ukraine? (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: