News November 11, 2022: Wayout, Sightic, Instabox, Quartr, MATCHi, Truecaller 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

  • Update to Habity's SEK5M round mentioned yesterday: The investors are previous investor Wellstreet as well as angels including Nami Zarringhalam and David Höök (Swedish, machine translation).

>> 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

  • Wayout, Stockholm-based developer of an IoT-enabled water purification system founded in 2018, announced that it will bring its technology to the Indian Ocean islanders, "providing drinking water to approximately 500,000 Malagasy" (an ethnic group native to the island country of Madagascar)(English). The non-binding agreement can generate revenue of up to $150M over a period of 5 years, Wayout founder and CEO Ulf Stenerhag tells me.
  • Sightic, previously named Eyescanner, scored its first commerical deal: The Norwegian e-scooter provider Ryde will integrate Sightic's AI-based eye scanning software for drug testing in its app, to prevent intoxicated users from unlocking a scooter, and to allow both partners to test the technology. Sightic co-founder Stefanie Najafi says there are talks about a similar integration with an e-scooter company active on the Swedish market (English, Swedish).
  • Instabox, one of the two brands owned by the newly formed Instabee group, has declared its Dutch operations bankrupt. They were established last year through an acquisition of a local last mile delivery provider. Budbee, the other Instabee brand, will keep operating on the Dutch market (English, Swedish / Di Digital paywall).
  • Quartr, Gothenburg-based investor relations app which until now focused on providing access to company earnings calls and investor slides, has added daily updated financial performance metrics and multiples to the majority of its around 7000 company profiles (English).
  • Applications for the Techstars Stockholm 2023 class are open for 20 more days. The accelerator program targets startups that are looking to find product market fit and raise a seed round in the spring (English).
  • Kim Fai Kok, co-founder of Swedish angel collective Framtid and former Truecaller veteran, is one of seven new additions to Atomico's Angel Programme (English).
  • On November 17, the international conference AI for Humanity and Society 2022 will take place in Stockholm (English, Swedish).
This week, I've added 11 new Swedish early-stage tech startups to my subscriber-exclusive tracker. Click here to see a brief profile of each (log in with your subscriber email).

Swedish tech earnings reports

  • MATCHi (Gothenburg, booking platform for racket sports) reports revenue of SEK79M (€7.3M, $7.5M) for the financial year 2021/2022 (up 24% YoY) and a loss of -SEK30M (Swedish / Breakit paywall).
  • Truecaller (publ) (Stockholm, global platform for verifying contacts and blocking unwanted communication): Q3 2022 interim report (English).
  • Readly (publ) (Växjö, subscription service for digital magazines): Q3 2022 interim report (English).
  • Oneflow (publ) (Stockholm, software platform for managing and tracking contracts): Q3 2022 interim report (English).

Other interesting things from the startup/VC world & beyond

  • Jason Lemkin keeps publishing interesting pieces on his SaaStr blog: Here he outlines his (mental) process when investing in an up- and coming startup (English).
  • "Investors, and the market, will need to re-learn what is truly a technology problem and what is just a business model that gets better better with the application of some technology" (English).
  • The real estate investment company NREP plans to built the world’s first net zero logistics facility near Stockholm (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: