News November 10, 2022: Storytel, Finch, Habity, Cooach, Kavall, Acast, Volumental, Pagero and more

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

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Funding news

  • Storytel (publ) (Stockholm, audiobook and ebook subscription service): SEK400M (€37M, $37M) through a directed share issue (English).
  • Finch (Malmö, SaaS design tool for architects): €2.5M ($2.5M) in a funding round led by Inventure, with participation from angel investors Peter Neubauer and Emil Sjödin (English, Swedish).
  • Habity (Stockholm, web app that aims to simplify housing): SEK5M (€460K, $460K) from undisclosed investors (Swedish, machine translation).
  • Cooach (Stockholm, Growth as a Service platform for scaleups): undisclosed amount in debt funding ("growth loan") from Nordea Startup & Growth (English).
  • Creandum led a $15M Series A round raised by Norwegian startup Enode, which is enabling energy companies to integrate EVs, thermostats, solar inverters and other energy hardware directly into their apps (English).

>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups.

News from Swedish startups, the tech sector and VCs

  • Kavall, Stockholm-based hyper-local rapid grocery delivery service, is testing a physical ordering button with a "limited number of users". The button, when pressed, randomly selects a recipe and has the ingredients delivered by bike in around 10 minutes (English).
  • Podcasting platform Acast is launching its presence in the Netherlands (English).
  • Shein, the Chinese e-commerce giant, will operate a popup store at Stockholm's Sveavägen between Nov 14 and 20 (Swedish, machine translation).

Swedish tech earnings reports

  • Volumental (Stockholm, developer of 3D foot scanning technology) increased its 2021 revenue to SEK60M (from SEK54M in 2020), while generating a loss of -SEK9.1M, compared to -SEK7.5M in 2020 (Swedish, machine translation).
  • Pagero (publ) (Gothenburg, global network for automated purchase-to-pay and order-to-cash) published its Q3 interim report (English).

Other interesting things from the startup/VC world & beyond

  • Sequoia marked down its stake in collapsed cryptocurrency exchange FTX to zero — a stake that, as of last week, likely represented among the most sizable unrealized gains in the venture firm’s 50-year history (English).
  • Amazon has reportedly become the first public company whose market cap has dropped by $1 trillion (English).
  • Volvo unveiled its flagship electric vehicle EX90, a seven-passenger SUV loaded with sensors and software (English).


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: