News March 25, 2024: Awardit, Dema.ai, Buddywise, Sib Solutions, Letshare, OhCleo, PowerMate, Not So Ordinary, LaddaTillsammans, StartupTools, and more
Here are today's news from Sweden's startup and tech sector, exclusively for you as subscriber of Swedish Tech News PRO.
Mergers & acquisitions
- A consortium has placed an acquisition bid on Awardit, publicly traded Stockholm-based SaaS provider of loyalty programs founded in 1999. The consortium, which together represents 49.4% of the shares, comprises the Danish PE firm Polaris Private Equity, Awardit founder Niklas Lundqvist and chair person Samir Taha, as well as the Avito founders Filip Engelbert and Jonas Nordlander. The recommended public offer values Awardit at around SEK1.143B (€100M, $110M), a 45% premium compared to Friday's closing price. In the press release, Niklas Lundqvist describes the challenge of running Awardit as a public company, and the need for a "new environment that promotes stability", in which he and the team "can focus on building the platform and developing the business" (English).
Funding news
⬜️ publicly traded
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・All funding rounds
・New Swedish tech startups
・Bankruptcies and shutdowns
- Dema.ai (Stockholm, e-commerce analytics platform for profitable growth, founded 2022): €7M ($7.6M) in a seed funding round mostly from existing investors, including J12 Ventures and angels, with participation from new investor Daphni, co-founder and CEO Marcus Tagesson confirmed to me this morning. I covered an unannounced partial closing of this round in early January. The round has now been closed at the cited €7M. As reported in my previous coverage, the pre-money valuation was SEK300M.
- Buddywise (Stockholm, B2B real-time risk detection solution for preventing injuries and loss of life at the workplace, founded 2020): €3.5M ($3.8M) in a seed funding round co-led by Kvanted and J12 Ventures. Existing investors Aligned, Antler, and angel investors Hans Stråberg, Hans-Olov Blom, and Eric Quidenus-Wahlforss also participated. Buddywise raised a €1.2M pre-seed round in fall 2022 (English, Swedish / Breakit paywall). For 2022, the startup reported net revenue of SEK800K.