Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News.
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Subscribe to Swedish Tech News 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.
Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!
Subscribe to Swedish Tech News 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.
Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!
Mergers & acquisitions
- Alva Labs (Stockholm, data-driven recruitment tool) acquired Stockholm-based startup DevSkills, provider of a real-world coding test solution to identify the best developers. Financials were not disclosed (Swedish / Breakit paywall).
Funding news
- deWiz (Malmö, wearable tech to help golfers hit it longer, straighter and closer): SEK43M (€4M, $4M) in a Series B funding round from previous investors and new angel investors such as Patrick Rees, Vijay Singh and Annika Sörenstam (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
- Wired is doing an article series on "Europe's hottest startups", and as part of it published a piece featuring the "10 hottest startups in Stockholm": Treyd, LEIA, Doconomy, Cling Systems, Mindler, ClimateView, PocketLaw, Ellure, Dework, Validio. The selection is completely arbitrary but good for those mentioned (English).
- Profile of Nordic Angels, Stockholm-made invite-only social network for angel investors founded by the serial entrepreneurs Ash Pournouri, Andreas Grape and Stefan Iversen in 2020 (Swedish / PDF).
- Bruce, Stockholm-based fitness studio subscription service, is expanding into Denmark, while revenue is growing and losses are shrinking (Swedish, machine translation).
- Spotify is doing some fall cleaning among its original podcasts, reportedly cancelling 11 productions and laying off around 5% of original podcast staff (English).
- Google will sell its new Pixel 7 smartphone officially in Sweden. Previously, products from Google's own Pixel brand were not sold here (Swedish, machine translation).
- Caroline Wachtmeister has returned to her investor role at Industrifonden and was just promoted to Principal, after a year's secondment at Stockholm-based AI startup Hopsworks, where she led go-to-market strategy and finance (English).
>> This week, I've started to track a large number of new Swedish tech startups, including 18 that haven't been mentioned in the newsletters. Check out the subscriber-exclusive, regularly updated list (log in with your subscriber email).
The list is probably the next best alternative to having your own startup scout – or a good addition, if you happen to be a VC with access to a scout.
Swedish tech earnings reports
Other interesting things from the startup/VC world & beyond
- Tiger Global is reportedly seeking to raise $6B for its next fund that invests in privately-held tech companies, which means the firm is targeting less than half of what it raised for its prior fund (English).
- Extensive guide, including many practical examples, on how to kickstart and scale a consumer business by doing things that don't scale (English).
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That's it for today.
