News May 14, 2024: EpinovaTech, Grasp, North House, Paytrim, Skattio, Mimir, Guestrix, CemVision, Einride, Utopia, Norrsken VC, OpiFlex, CheckProof, 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

• Greenbridge, the investment company founded by the Swedish industrialists Ola Rollén and Melker Schörling, is becoming a majority owner of EpinovaTech, a Lund-based startup founded in 2019 developing green semiconductor solutions. Greenbridge is both acquiring shares from existing shareholders, as well as participating with an equity investment in EpinovaTech. Exact amounts were not disclosed (English). The startup was founded by Martin Olsson, and has registered around SEK45M in equity funding with Bolagsverket (sourced via Eivora), raised from GAEU Ventures, LMK Ventures, and others.

Funding news

⬜️ publicly traded

• Grasp (Stockholm, AI-assistants for investment bankers and management consultants, founded 2020): SEK20M (€1.7M, $1.9M) from Yanno Capital and Philian, at a pre-money valuation of SEK159M. The startup launched its SaaS solution in December 2023, and cites a current ARR of SEK3M (English, Swedish / Di Digital paywall). This is the startup's first larger equity funding round. I covered Grasp first in early 2023.
• North House (Stockholm, B2B SaaS governance document platform, founded 2022): SEK5M (€430K, $460K) in an oversubscribed funding round from angel investors including Maria Hedengren, Sören Mellstig, and Ann Grevelius. According to the press release, the startup currently has a churn of zero, despite a significant customer growth (Swedish / PDF). The company, which was founded by Julia Haglind and the venture builder Hidden Dreams, raised its first funding round of SEK3.5M in early 2023. ➡️ I covered part of this now announced second round on January 25 in the "unannounced funding" section.
• Mudcake participated in a €1.3M pre-seed round raised by German startup hexafarms, which offers a platform for farm and greenhouse operators "to track, monitor, optimise, plan, and forecast" (English).

Unannounced funding