News September 23: Quickchannel, CemVision, Nordish, Ingrid Capacity, Legitify, Worldish, DanAds and more

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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Mergers & acquisitions

  • Quickchannel and Screen9, 2 Swedish B2B video streaming providers, are merging and will continue their activities under the Quickchannel branding. The company also raises new funding, see below (English, Swedish / Breakit paywall).

Funding news

  • CemVision (Nybro, developer of the world’s first carbon neutral cement): SEK25M (€2.3M, $2.2M) in a funding round led by Polar Structure and Backing Minds, with participation from Swecem (Swedish, machine translation).
  • Quickchannel (Stockholm, B2B video streaming platform): SEK15M (€1.4M, $1.3M) from existing investor blq Invest (English).
  • Nordish (Gothenburg, upcoming digital foodcourt and food delivery service): SEK9M (€820K, $800K) from angel investors such as Mathias Kamprad, David Klagsbrun and Andy Johnson (Swedish, machine translation).
  • Breakit confirmed Knodd's SEK30M funding round which I covered 2 days ago, with the additional information piece that also previous investor Curus is among those who participated in the latest round (Swedish, machine translation).

>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. Request access.

News from Swedish startups, the tech sector and VCs

  • Ingrid Capacity, a newly formed Stockholm-based startup, plans to invest SEK350M (€32M, $31M) to establish Sweden's largest battery storage park in Karlshamn. On its website, the company which is co-founded and led by Arvid Lilljeqvist, names Engelbrekt Utveckling, Springbacka and Neptunia among its investors (Swedish, machine translation).
  • Legitify, Stockholm- and Dublin-based online notary service, announced a strategic partnership with financial super app Revolut, to provide remote online notary services to Revolut business customers (English).
  • Brief profile of Linköping-based startup Worldish, which develops a tool aimed at helping doctors and patients break communication barriers with each other. The company was founded by Abhishek Jacob and Naveen Sasidharan, who moved to Sweden from India in 2015 for their masters program (English).
  • DanAds, Stockholm-based provider of self-service advertising technology, has opened an office in New York, and CTO Johan Liljelund is relocating there from Sweden (English).

Other interesting things from the startup/VC world & beyond

  • A16z with an extensive guide for founders about funding terms in times when capital isn't cheap (English).
  • A look back at Q2 '22 public cloud software earnings (English).
  • How the researchers of AI Sweden collect and process training data for the Swedish GPT-SW3 language model, which they call "The Nordic Pile" (English).
  • A pilot facility for the storage of fossil-free hydrogen gas, described as the first of its kind in the world, is now in operation in Luleå (English).
  • Gothenburg and Uppsala are 2 out of 12 European cities and regions announced as "circular pilots" by the European Commission’s Circular Cities and Regions Initiative (CCRI) (English).

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That's it for today.

Martin Weigert

Martin Weigert

Stockholm