Swedish Tech Weekly #306

Welcome the latest from Sweden's startup & tech sector.

I'm Martin Weigert. Every Monday morning, Swedish Tech Weekly brings you a selection of some of the news I previously covered in my daily PRO newsletters. Today's newsletter was sent to 2878 subscribers.

Mergers & acquisitions

Byhmgard (Halmstad; provider of turn key grid connected photovoltaic, battery and EV charging systems) is being acquired by publicly traded Swedish electricity trading company Suntrade, for SEK300M (€27M, $31M) (Swedish, machine translation).

BIMobject, Malmö-based global marketplace for the construction industry, is acquiring the Malmö-based early-stage AI agent startups Lumea and GreenMetrica for SEK13M (English).

eSyn (Stockholm, B2B invoice processing automation) has acquired the Västerås-based company behind LevDoc, which offers climate-smart invoice management solutions (English).

Adecla, a Stockholm-based financial services provider, is acquiring an unspecified stake in Auxality, Stockholm-based startup offering SaaS solutions for enabling mutual funds to effectively manage large volumes of complex data (Swedish, machine translation).

Prisjakt (greater Helsingborg area, price comparison and product information platform) is being sold by its owner Schibsted to eEquity for around SEK500M (€46M, $52M) (English, Swedish / Di Digital paywall).

Done.ai, publicly traded Stockholm-headquartered AI-powered platform to run a business formerly known as 24SevenOffice, has acquired 80% of the shares in Norway-based SEO and GEO (Generative Engine Optimization) startup metamanager.io (English).

Funding news


Are you a founder in fundraising mode? Get free access to the FOUNDER version of my funding and investor database. Closed a funding round? Submit it here.

Note to first time founders: Raising VC funding is not a goal in itself, and not every company is a fit for it. If you plan to choose that path, make sure to understand the implications.

Legora, formerly Leya (Stockholm, AI assistant for legal professionals) is reportedly in talks to raise $85M in funding at a $675M valuation, led by General Catalyst and Iconiq (English).

Aris Machina (Stockholm; stealth startup developing software for manufacturing, factory design and production): undisclosed amount in first funding from Earlybird, AENU and Planet A, Village Global, and angel investors (English / Bloomberg paywall). Aris Machina was founded by Siddharth Khullar, who led Northvolt’s AI efforts. He's joined by Northvolt co-founder and former CEO Peter Carlsson, though it's not confirmed right now that the latter officially counts as founder. ➡️ My PRO subscribers were the first to learn about Aris Machina, already on March 26.

IPercept (Stockholm, solutions for automated diagnostics and monitoring of industrial equipment): €5M ($5.7M) seed funding round led by Luminar Ventures, for the European expansion (English).

Centra (Stockholm, fashion brand commerce platform): SEK50M (€4.6M, $5.2M) in a strategic investment from H&M Group (English, Swedish / Di Digital paywall).

Sproud (Malmö, producer of a milk drink made from peas): SEK21.6M (€2.M, $2.2) mostly from existing major shareholders Findeln Holding, Dream Beverage Group, and VGC Partners (Swedish, machine translation).

Onefin (Stockholm, SaaS solution that helps corporate real estate groups streamline and optimise their financial operations): €1.9M ($2.2M) from People Ventures (English). ➡️ PRO subscribers first learned about this round on April 26.

Klang.ai (Helsingborg, SaaS for AI-powered interview and meeting transcription): SEK8M (€730K, $820K) from existing angel investors. The company says it is experiencing a "Trump effect", i.e. more European businesses seeking non-US alternatives. (Swedish / Breakit paywall). ➡️ Startup first covered in PRO in June 2023.

Reccan (Lund; blood test for quick, accurate and none-invasive screening for pancreatic cancer): SEK7M (€640K, $730K) led by existing investor Sandberg Development (English).

PriceAgent (Stockholm & Los Angeles, predictive pricing platform): $550K in seed funding from the founders and angel investors including Emanuel Lipschütz (English). ➡️ Startup first covered in PRO in April 2023.

Vesence, formerly Verse (Stockholm, agentic AI for law firms & professional service providers): $500K in pre-seed funding from Y Combinator, as the the company was accepted into YC's spring 2025 batch (English). ➡️ Startup first covered in PRO on January 28.

Hydro Diagnostics (Stockholm, develops technical solutions to combat legionella): SEK4M (€310K, $370K) EU grant from the Swedish Board of Agriculture (Swedish, machine translation). ➡️ Initial, previous angel funding first covered in PRO in March 2024.

XENSE Vision (Jönköping, real time 3D AI traffic insights): SEK1.5M (€140K, $160K) grants from Vinnova and Skyltfonden (Swedish, machine translation).

Angry Camel (Malmö, maker of protein made from chickpeas): undisclosed amount led by Jenny Lindén Urnes, with participation from BLING Capital (English). ➡️ Funding first covered in PRO on March 27.

PRO subscribers learned about various unannounced rounds last week, and more details for each round.

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News from the Swedish startup & tech sector

AI-Reformen is a new foundation backed by Sana, that will provide free access to AI tools for 2.3 million Swedes across the public sector, education system, and civil society (English).

Sweden ranks #4 in Europe by VC investment since 2020, and first per capita, according to Dealroom's annual "State of the Swedish Tech Ecosystem" report (English).

Hemla, the Stockholm-based startup co-founded by Budbee founder and former Instabee CEO Fredrik Hamilton, has launched its intelligent home security solution for smart homes (Swedish, machine translation).

Talentium has officially launched its next-generation AI-powered hiring platform (English).

Teemyco, Stockholm-based customisable virtual office platform founded a few months before the beginning of the pandemic, is being liquidated, due to not being able to raise additional funding (Swedish, machine translation). ➡️ PRO subscribers last week learned about several other VC-backed Swedish tech startups that reached the (likely) end of their journeys.

Profile of Pythom Space and interview with Filip Stern Cedell, CEO of the Swedish-American spacetech startup, which aims to create a small space rocket that can launch swarms of satellites without the need for a large-scale spaceport (English).

Quartr, Stockholm-based data platform for qualitative public market research, is opening offices in New York and Dublin, and touts ARR growth of 300% (English).

Arash Fayyazi, co-founder of Lund-based foodtech startup Saveggy, is stepping down as CEO, to focus on his CTO role (Swedish / Impact Loop paywall).

Otto Lundman, co-founder of Modvion, is stepping down as CEO of the Gothenburg-based developer of modular wooden wind turbine towers, after ten years. CFO Maria-Lina Hedlund is succeeding at the helm (Swedish, machine translation).

Tzafon, the recently unveiled AI R&D lab startup founded by two Swedes, will host a launch event together with NVIDIA in Stockholm on May 16 (English).

Daniel Ek has now cashed out over $800M in Spotify stock since mid-2023 (English).

Revolut, the UK-headquartered digital bank, touts 800,000 users in Sweden, and plans to open a local branch in Stockholm this year (Swedish, machine translation).

PropTech Farm, Gothenburg-headquartered VC firm, announced the initial close of its third fund. It's the first headquartered in Singapore (English).

Malmö-based VC firm Pale blue dot is hiring a Founder's Associate and a Financial Controller (English).

🎧 Podcast interview with Marika King, Head of Stockholm-based PINC, the corporate VC of Finnish family-owned food and drink company Paulig (English / 47 minutes).

PRO subscribers last week learned about many more news – including exclusives that have not been covered or curated anywhere else yet. Join PRO today.

Selected Swedish tech startup jobs

A non-exhaustive selection of open positions at Swedish tech startups.

• Technical co-founder (early stage AI startup)
• Various roles (FLOX Robotics)
• Various roles (Zendr)
• Software Developer – Postgres, Typescript, Nextjs (Mana)
• Technical Lead (Perspetivo)
• Customer Support Specialist (Elvy)
• Talent Acquisition Partner (Sitoo)
• Engineering roles; Customer Support (All Ears)
• Team Lead & Senior Fullstack Engineer (Caspeco)
• Product Manager (Rarity Bioscience)
• Operations Coordinator (SolidSport)

To the listings

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Special shout-out to my partner Eivora for providing me with access to their awesome AI-powered ownership database of Swedish companies.

Other interesting things from the startup/VC world & beyond

The applications for Y Combinator's summer 2025 batch are open until tomorrow (May 13) (English).

"Founders, especially those doing anything sufficiently new, weird or hard, should largely disengage from the online discourse" (English).

Ten terms to help name, diagnose, and spark reflection on the strange new ways people communicate in the age of AI (English).

Sweden, Finland, Norway, Denmark and Estonia are developing an offline card payment systems to avoid outages if online services are knocked out (English).

Tesla sales have collapsed in Sweden (English).

Costco, the US membership-only big box retail giant, will open its second Swedish store, on June 1 in Malmö (Swedish, machine translation).

Sweden's new national security adviser quit hours after taking up the role as sensitive pictures of him on the dating app Grindr were sent anonymously to the government. (English).

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That's it for this week. Thank you for being a subscriber!

Martin

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
Stockholm