News May 5: Nordic Capital, Sidekick Health, Melt&Marble, Birds Relations, Vembla, Zettle, Volta Trucks, Wolt and more

Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News.

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Mergers & acquisitions

  • Nordic Capital (Stockholm, private equity investor) acquired Munich-based maker of industrial IoT devices, ProGlove, for reportedly €500M ($530M) (English).

Funding news

  • Sidekick Health (Gothenburg & Reykjavík, Iceland, gamified digital therapeutics platform): $55M in a Series B growth funding round led by Novator Ventures, with participation from Wellington Partners, Asabys Partners, and Frumtak Ventures, as well as an undisclosed US-based strategic investor (English).
  • Melt&Marble (Gothenburg, producer of designer fats via precision fermentation): €5M ($5.3M) in a seed round led by Lever VC, with participation from new investors Be8 Ventures and Good Startup and existing investors Nordic Foodtech VC, PINC (Paulig Incubator) and Chalmers Ventures (English, Swedish).
  • Birds Relations (Gothenburg, mobile app helping couples to manage their relationship): SEK8M (€770K, $820K) from Almi Invest, existing investor Twig Ventures and undisclosed angel investors (English, Swedish).

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News from Swedish startups, the tech sector and VCs

  • Vembla, Stockholm-based instant grocery home delivery startup, launched an equity crowdfunding campaign, aiming to raise SEK20M-30M (English).
  • After 3 years of development work, Stockholm-based small business payments provider Zettle, owned by PayPal, launches a feature to receive contactless card payments with Android phones via NFC. To beginn with, it'll be available in Sweden, the UK and the Netherlands (Swedish, machine translation). In February, Stockholm-based startup Surfboard Payments presented a similar feature in a pre-launch (English).
  • Stockholm-based Volta Trucks confirms it’s bringing its electric trucks to the US beginning in mid-2023 (English).
  • Finnish delivery app company Wolt is launching Wolt Drive on the Swedish market, offering rapid last mile logistics for businesses (Swedish, machine translation).

Swedish tech earnings reports

Other interesting things from Sweden

  • Sweden's hotel sector is now doing better than during the months before the pandemic (Swedish, machine translation). Even air travel is back, having reached the level from February 2020 (Swedish, machine translation).
  • In Gothenburg, Volvo is building a new experience center mostly made from wood, expected to be completed in late 2023 (English).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm