Swedish Tech Weekly #326: Pattern, Milepost, Eir, IntuiCell, Vilja, Ecotype, FirstQFM, Worldish, DevBridge, Arkeon, Sting, Arify, Altris, Rebaba, Smartports, and more

Welcome to 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 PRO newsletters, which are available as daily and weekly version. Today's newsletter was sent to 3081 subscribers.

Mergers & acquisitions

• Pattern (Stockholm, estimation engine for property and location evaluation) is sold by the real estate company Ernst Rosén – which founded it – to the management and selected investors, including Supermarket VC (Swedish, no machine translation available).

• IKEA, through Ingka Group, has acquired the US-based AI-driven logistics solutions startup Locus (English).

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Funding news

Sweden-based startup founders, request free access to my funding and investor database.

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.

• Milepost (Stockholm, EV-charging operator): SEK600M (€55M, $64M) from Obligo and existing shareholders, for the expansion across Sweden (English).

• Voi (Stockholm, e-scooter & micromobility operator): €40M ($47M) through the company's second bond issuance (amount before issue costs) (English).

• Eir (Stockholm, digital white-label insurance provider specializing in embedded non-life insurance): €20M ($23M) growth funding round led by Endeit Capital (English).

• IntuiCell (Stockholm, platform for artificial general intelligence): $4M seed funding round led by Luminar Ventures (Swedish / Breakit paywall).

• Vilja (Stockholm, digital core banking platform): SEK31.5M (€2.9M, $3.4M) in equity funding from existing shareholders, as well as a SEK8.5M loan from DBT Capital (English).

• Ecotype (Stockholm; software solutions for land management and forestry): SEK15M (€1.4M, €1.6M) led by Vitec, via Malmkroppen (English, Swedish / Di Digital paywall).

• FirstQFM (Stockholm, foundation models for quantum computing): €1.2M in pre-seed funding led by BSV Ventures, with participation from Almi Invest, Luminar Ventures, and Further Than Capital (English). ➡️ First covered in PRO on October 6.

• Worldish (Linköping; communication assistance solutions aimed at breaking communication barriers in healthcare and other public sectors): SEK12M (€1.1M, $1.3M) from angel investors, for the European expansion, and market tests in the US (Swedish / Breakit paywall).

• DevBridge (Helsingborg, maker of the SaaS tools OneBridge and doCuro): SEK3.2M (€290K, €340K) from angel investors (Swedish / Rapidus paywall).

• Gårdens Mathantverk, formerly Local taste (Oskarshamn, delivery service for locally produced food): SEK3M (€270K, $320K) from existing angel investors (Swedish / Ehandel paywall).

• AgentMaMa (Stockholm, AI marketing manager): SEK2.5M (€230K, $260K) from angel investors. ➡️ First covered in PRO on October 6.

• Ribbn (Stockholm, commerce platform designed for resale): SEK2.5M (€230K, $260K) from existing and new investors (Swedish, machine translation).

PRO subscribers learned more details for most of these rounds, as well as about many more funding rounds last week.

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News from the Swedish startup & tech sector

• Arkeon Technologies, Gothenburg-based quantum technology startup, was named "Startup of the Year 2025" at last week's Venture Cup STARTUP 2025 Sweden final (English).

• Stockholm-based incubator/accelerator Sting unveiled 16 startups joining its new flagship program, Sting Core (English). ➡️ PRO subscribers learned about most of the companies previously.

• Arify, based in Stockholm, launched its solution to create, manage, and publish AI-generated video ads in minutes (English). ➡️ Added to the New Startup Database for PRO subscribers on July 30.

• Elliot Norrevik, a 16-year old Swedish tech entrepreneur previously featured in Swedish tech media, is now aiming to "build AGI". He posted this both on LinkedIn and on X – and got over 3.1M views on X until now.

• Altris, Uppsala-based developer of sustainable sodium-ion batteries, is now targeting the defense sector (English).

• Two Swedish energy startups, Rebaba and Smartports, are teaming up to accelerate the deployment of parking area solar roofs connected to circular battery energy storage systems, across Sweden, France, and additional European markets (English).

• Blykalla, Swedish developer of modular nuclear reactor technology, and evroc, Sweden-headquartered European hyperscale cloud startup, want to "explore the development of Sweden’s first nuclear-powered data centers", together with nuclear company Studsvik (English).

• ProptechOS, Stockholm-based SaaS operating system for real estate, is launching in Denmark (English).

• 📺 "I love Lovable", Nvidia CEO Jensen Huang states in a CNBC interview (English).

• HETCH, the Helsingborg-based tech hub, has opened the applications for its next accelerator program, starting in early 2026 (English).

• The applications for Di Digital's annual Female Founders pitch competition are open (Swedish). The final will take place on February 5 in Stockholm. ➡️ Added to the Swedish tech event calendar

• Levels, Stockholm-based venture studio, is bankrupt. The bankruptcy trustee is now trying to sell Levels' shares in various Swedish startups (Swedish / Breakit paywall). ➡️ Bankruptcy first covered in PRO on March 3.

• Skåne Capital Day will take place on November 13 in Helsingborg (English). ➡️ Added to the Swedish tech event calendar

• GoWest 2026, Gothenburg’s and west Sweden’s annual venture capital forum for investors, startups and scaleups, will take place January 27-29 (English). ➡️ Added to the Swedish tech event calendar

• FORWARD.one, a Netherlands-headquartered early-stage VC firm, has launched a new €200M fund to back early-stage industrial tech startups across Europe, with a "strong focus on the Nordics" (English).

• Fåhraeus Startup and Growth, Lund-headquartered VC firm that invests early in life science and tech companies, is hiring a Head of Investor Relations (English).

Exclusives in PRO last week

• Two Swedish startups in the explainable AI space emerged from stealth mode. One is backed by angels, the other one bootstrapped.

• Also out from stealth: A Swedish-Danish startup building a voice-controlled OS for industrial manufacturing.

• New details on a stealth mode startup building AI agents for account receivables, already backed with $4M+ from "top tier global VC investors".

• A bootstrapped animal tech startup from Stockholm is developing a digital system for real-time analysis of kinship, inbreeding levels, and genetic diversity.

• An under-the-radar cybersecurity startup from southern Sweden grew net revenue by 230% YoY to over SEK80M.

• Two New York-based Swedes launched a solution for AI-generated e-commerce photography.

• Fundraising: A customer experience platform for medtech companies, a startup focused on personal alarm to prevent assault, and a media transfer tool for the film production industry.

• The founder of a well-known Swedish consumer brand has backed a mental health-focused startup from southern Sweden.

• A startup building an app for women who want to understand, grow and control their money, has raised SEK1.5M in first funding from angels.

• 22 new Swedish tech startups

Selected Swedish tech startup jobs

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

• Various roles (nordsnipe)
• Lab Technician (Pixelgen Technologies)
• Chief People & Culture Officer (Mindler)
• Service Coordinator (ChargeNode)
• Customer Success Manager (Eletive)
• Deep Learning Application Engineer (EmbeDL)
• Senior Full-Stack Engineer (Inceptron)
• Performance Marketing Specialist (Klingit)
• Fullstack Developer (Modular Finance)
• Senior User Researcher (Natural Cycles)
• Integration Software Engineer (Qurrent)
• Software engineer (Vesiro)
• Marketing and Customer Manager (Neurawave)
• Customer Relations Agent (Amuse)
• Climate Analyst (Atmoz)
• Financial Controller (Milkywire)

To the listings

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

• Pathfounders is a new tech media brand founded by Mike Butcher, former TechCrunch Editor-at-large, which aims to primarily cover European tech startups and VC firms (English).

• YC Arena is a collection of interactive games designed to test a users' knowledge of the Y Combinator ecosystem (English).

• A Sifted list featuring "100 women in tech in Europe 2025", based on nominations and a jury (English).

• The State of AI report 2025 (English).

• A practical framework for SaaS leaders for monetizing in the AI era (English).

• Many startups tend to offer retrofits, which can easily lead to a "bottleneck cascade" (English).

Other interesting things related to Sweden

• The origins of the Swedish tech ecosystem (English).

• Sweden plans to boost its anti-drone defences (English).

• Sweden has lost more international flight routes than any other EU country in the last six years (Swedish, machine translation).

• Swedish universities fall in the latest World University Rankings 2026 (Swedish, machine translation).

• Swiss-Swedish company ABB is divesting its Robotics division to SoftBank Group for an enterprise value of $5.375B (English).

• Offline card payments should be possible no later than 1 July 2026, according to the Swedish central bank and representatives of the payment market (English).

• September’s auto sales saw plugin EVs at 68.4% share in Sweden, up from 65.0% year-on-year. The Tesla Model Y was the best-selling BEV (English).

• The Old Stockholm telephone tower was a metallic structure built to connect approximately 5,500 telephone lines in Stockholm, used until 1913, and demolished in 1953 (English).

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

Martin