> ## Content Index > Fetch the complete content index at: https://www.swedishtechnews.com/llms.txt > Use this file to discover other available public pages before exploring further. # News October 5, 2022: Spotify, Oterlu AI, FLOAT, CemVision, reCRQL, Norrsken, Urb-it and more - URL: https://www.swedishtechnews.com/news-october-5-2022/ - Published: 2022-10-05T15:00:16.000Z - Updated: 2023-09-24T14:49:36.000Z - Description: Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News. - Author: Martin Weigert - Tags: Daily (PRO), oterlu ai, Float, CemVision, recrql, norrsken, urb-it, Spotify, Breakthrough Energy Ventures, Newion Partners, exits Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News. 💡 This post has been unlocked and made available for free a month after publication. [Subscribe to Swedish Tech News](https://www.swedishtechnews.com/#/portal/signup) to get access to a ****daily newsletter** that brings you a brief overview of news from the Swedish startup & tech sector, curated by [Martin Weigert](http://www.twitter.com/martinweigert). Or, if you prefer a ****free weekly newsletter**, [subscribe to Swedish Tech Weekly](https://swedishtechweekly.com/)! ### Mergers & acquisitions 2 news today involving content moderation companies: - [Spotify](http://www.spotify.com) (Stockholm, audio streaming service) acquires Ireland-based content moderation tech company [Kinzen](https://www.kinzen.com/). Deal terms were not disclosed ([English](https://techcrunch.com/2022/10/05/spotify-acquires-content-moderation-tech-company-kinzen-to-address-platform-safety-issues/)). - [Oterlu AI](https://www.oterlu.com)'s 4-person team, including the co-founders, was "acqui-hired" by [Reddit](http://www.reddit.com). Financials were not disclosed, and no announcement has been made about what this means for the Gothenburg-based machine learning-powered content moderation startup. However, a near-term shutdown is very likely. [According to Crunchbase](https://www.crunchbase.com/organization/oterlu), Oterlu AI had raised around $670K from among others Icebreaker.vc and Chalmers Ventures ([English](https://techcrunch.com/2022/10/04/reddit-acqui-hires-ml-content-moderation-company-oterlu/), [Swedish](https://www.mynewsdesk.com/se/chalmers-ventures/pressreleases/oterlus-team-en-deep-tech-startup-som-skapar-saekra-chattar-genom-ai-blir-del-av-reddit-3208716)). ### Funding news - [FLOAT](https://www.gofloat.io) (Stockholm, provider of dilution-free capital for Nordic SaaS and other subscription businesses): SEK1B (€92M, $92M) debt facility from undisclosed backers ([Swedish](https://www.breakit.se/artikel/34558/float-vill-bli-saas-bolagens-basta-van-ska-lana-ut-1-miljard) / *Breakit paywall*). - [CemVision](https://cemvision.tech/) (Nybro, developer of the world’s first carbon neutral cement): undisclosed – but reportedly large – amount from Bill Gates-founded Breakthrough Energy. The funding comes as part of Breakthrough Energy's Fellows program, which admitted CemVision's co-founders Claes Kollberg and Paul Sandberg to its second cohort ([English](https://www.mynewsdesk.com/se/cemvision/pressreleases/claes-kollberg-and-paul-sandberg-of-cemvision-named-as-breakthrough-energy-fellows-3208788?utm%5Fsource=rss&utm%5Fmedium=rss&utm%5Fcampaign=Alert&utm%5Fcontent=pressrelease), [Swedish](https://www.breakit.se/artikel/34552/bill-gates-backar-svenska-cementutmanaren-cemvision-gigantiskt-belopp)). \>> Daily updated, subscriber-exclusive [Google sheet](https://docs.google.com/spreadsheets/d/19CzBwRojH%5FK8zin277bpLJ8KCgEUp2AWw%5F%5FJuFUujAs/edit?usp=sharing) with all funding rounds raised by private Swedish startups and scaleups. ### News from Swedish startups, the tech sector and VCs - [reCRQL](https://www.recrql.com/) is a new Gothenburg-based circular retail platform founded by Sofie Hjelmberg and her mother Ann Hjelmberg (which I added to my subscriber-exclusive "[new tech startup tracker](https://www.swedishtechnews.com/startup-updates-list/)" already in early September). The SaaS solution aims to power brands and retailers' resale channel as well as to help "[circulents](https://www.medvetenkonsumtion.se/en/circulent/)" sell and buy sustainably ([Swedish](https://www.breakit.se/artikel/34529/de-vill-ge-e-handlarna-makt-over-sin-second-hand-marknad), [machine translation](https://www-breakit-se.translate.goog/artikel/34529/de-vill-ge-e-handlarna-makt-over-sin-second-hand-marknad?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)). - Next year, the [Norrsken Foundation](https://www.norrsken.org/) is opening a hub in Barcelona. It will be three times the size of the Stockholm hub and home 800 entrepreneurs ([English](https://12ft.io/proxy?q=https%3A%2F%2Fsifted.eu%2Farticles%2Fnorrsken-impact-hub-barcelona%2F), [Swedish](https://www.breakit.se/artikel/34548/norrsken-oppnar-pa-stranden-i-barcelona-efter-nakd-grundarens-tips)). - The share price of publicly listed Stockholm-based sustainable logistics platform [Urb-it](https://www.urb-it.com/) collapsed by almost 90% today after the company announced that the recently raised SEK23.3M (€2.2M, $2.1M) and the cash flow from operations wouldn't be enough to sustain the business beyond Q4 2022, and a major owner received a margin call ([Swedish](https://www.breakit.se/artikel/34564/urb-it-kollapsar-pa-borsen-pengarna-snart-slut-och-storagaren-saljer), [machine translation](https://www-breakit-se.translate.goog/artikel/34564/urb-it-kollapsar-pa-borsen-pengarna-snart-slut-och-storagaren-saljer?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)). ### Other interesting things from the startup/VC world & beyond - Dutch VC [Newion](https://www.newion.com/) launches a new fund with an initial closing of €130M to back up to 20 business software startups across the Benelux and DACH regions and the Nordics ([English](https://tech.eu/2022/10/05/business-soft/)). - How much should a B2B software startup spend on marketing? Some suggestions from CMOs and B2B SaaS VCs ([English](https://12ft.io/proxy?q=https%3A%2F%2Fsifted.eu%2Farticles%2Fb2b-software-startup-marketing%2F)). - A (so far US-centric) Airtable list of funds that consistently lead pre-seed rounds ([English](https://outsetcapital.com/writing/posts/lead-preseeds?5)). ### Other interesting things related to Sweden - Sweden hasn't come very far regarding the establishment of facilities for Carbon Capture and Storage (CCS) technology ([Swedish](https://www.dn.se/sverige/koldioxidinfangning-lyfts-som-avgorande-for-klimatet-ingenstans-i-sverige-finns-det/), [machine translation](https://www-dn-se.translate.goog/sverige/koldioxidinfangning-lyfts-som-avgorande-for-klimatet-ingenstans-i-sverige-finns-det/?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)). - A new [ranking of the world's 100 best bars](https://www.worlds50bestbars.com/list/1-50) includes 2 contenders from Sweden, both located in Stockholm: Lucy’s Flower Shop (#49) and Röda Huset (#78) ([Swedish](https://www.dagensps.se/weekend/mat-vin/varldens-femtio-basta-barer-en-av-dem-finns-i-stockholm/), [machine translation](https://www-dagensps-se.translate.goog/weekend/mat-vin/varldens-femtio-basta-barer-en-av-dem-finns-i-stockholm/?%5Fx%5Ftr%5Fsl=auto&%5Fx%5Ftr%5Ftl=en&%5Fx%5Ftr%5Fhl=en&%5Fx%5Ftr%5Fpto=wapp)). +++ That's it for today.