News November 10: 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