News March 24: Bzzt, Favo, Svea Solar, Einride, Sinom and more

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

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Mergers & acquisitions

  • Bzzt (Gothenburg, provider of environmentally friendly last mile transports in city centers) acquires the delivery business from Borås-founded, now Gävle-based cloud kitchen and food delivery startup Favo. Terms were not disclosed (Swedish, machine translation).

Financing rounds

  • Svea Solar (Stockholm, solar solutions provider): around SEK1B (€96M, $106M), with Altor being the main investor (English, Swedish).

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News from Swedish startups, the tech sector and VCs

  • Swedish intelligent trucking startup Einride signed a five-year agreement with Danish container shipping giant Maersk, which plans to electrifying its North American businesses. Einride will provide digital and electric freight shipping support and access to its trucking operating system (English).
  • Gothenburg-based Sinom, founded in 2020, offers a web platform and algorithm for building owners to plan maintenance and renovation measures in line with energy and emission reduction targets (Swedish, machine translation).
  • As part of a pilot program, Google will allow Spotify to offer its own billing option on Android, next to Google Play's own billing system. It was not disclosed how much commission Spotify will pay to Google (English).

Other interesting things from the startup/VC world & beyond

  • Apple acquires UK open banking startup Credit Kudos (English).
  • The arrival of blockchains creates a new option for impatient VCs to generate ROI faster: tokens, whose value is far less tethered to reality (English).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm