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News October 21, 2022: MWH of Sweden, TeraSi, Elias, Flat Capital 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

  • MWH of Sweden (Norrköping, D2C brand for next generation women's businesswear): SEK7M (€630K, $620K) from angel investors such as Maria Ottosson, Anna Nordlander, Mia Langborg Ziherl and Zeinab Daugaard (Swedish, machine translation).
  • TeraSi (Stockholm, developer of scalable hardware for 6G and beyond): undisclosed amount in a pre-seed funding round from existing investors KTH Holding and Sting Holding, as well as new angel investors Fredrik Posse, Per Björklund, Stefan Lindeberg, Dominic Davies and Andrew Stentiford (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

  • Elias, Stockholm-based game audio and music software platform, has been declared bankrupt after it submitted a filing. The company's most recent funding round took place in December 2020, when it raised SEK36M from among others GP Bullhound. The plan is now to find an acquirer (Swedish, machine translation).
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This week, I've added 15 companies to my subscriber-exclusive new Swedish tech startup tracker (log in with your subscriber email). I've also enhanced the brief startup profiles to increase their usefulness.

Swedish tech earnings reports

Other interesting things from the startup/VC world & beyond

  • While the previous AI wave benefited incumbent tech companies, the current wave will contain strong startup success, in addition to incumbent value (English). Related: Sequoia published a "Generative AI Application Market Map" highlighting the growing number of startups in this field (English).
  • Cloud costs are in a bubble (English). Lots of talk about cloud costs lately. Should be a good time for company's that offer solutions to lower these costs.
  • Benny Eriksson ran on every single of Stockholm's 4300 streets (Swedish, no machine translation available).

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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: m@swedishtechnews.com
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