Swedish Tech Weekly #331: coherence, Aloi, LootLocker, Spiich, Coly, Hugo, Konvolo, Kyla, Redpine, Peekerton, Fundrella, DFRNT, Einride, Enairon, Zparq, hiasynth, Edgy, Specific, 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 3129 subscribers.

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• coherence (Malmö, next-gen networking solution for production-ready multiplayer deployment) has been acquired by the gaming holding company Roundtable Interactive Group (English).

Send press releases about funding rounds, and other potentially relevant news, to news@swedishtechnews.com.

• Aloi (Stockholm, insight-driven AI for legal workflows): SEK35M (€3.2M, $3.7M) from new and existing angel investors. The startup is currently expanding in Europe and the US (English, Swedish / Breakit paywall). ➡️ Startup first covered in PRO in October 2024

• LootLocker (Stockholm, game backend for developers and publishers): $2.5M from undisclosed investors (details page).

• Spiich (Stockholm, AI sales assistant that eliminates administration): €600k ($700K) in a pre-seed funding round led by Ampli Ventures, with participation from Index Ventures Scout Fund, Wave Ventures, Further Than Capital, and founders of Lovable, Tandem Health, and Neo4j (details page).

• Coly (Stockholm, platform aimed at reducing socially-triggered student drop-outs by making shared living easy): $650K from new and existing investors including Kapita, Pakta, Sting, and angels (details page). ➡️ Fundraising for this round covered in PRO on July 29.

• Hugo (Malmö, AI marketing workspace): SEK5M (€450K, $530K) from angel investors and Skåne Ventures (details page).

• Konvolo (Stockholm, all-in-one platform for AI-led customer interviews): SEK4M (€370K, $420K) from Almi Invest, Gorilla Capital, and others (details page). ➡️ Startup first covered in PRO in January 2024.

• Kyla (Stockholm; upcoming products based on patent-pending palm cooling technology that allows people to control their body temperature, to improve performance, recovery and well-being): SEK3M (€270K, $320K) from angel investors (Swedish, machine translation). ➡️ Startup first covered in PRO in March.

• Redpine (Stockholm; AI data platform): undisclosed amount from PostScriptum, in an extension of the previously announced $1.3M first funding round (details page). ➡️ Startup first covered in PRO on March 11.

• Peekerton (Stockholm, AI for competitive analysis): undisclosed amount in pre-seed funding from a large number of angel investors, as well as Sting, YEoS Ventures, and Propel Capital (details page).

• Fundrella (Stockholm, effective fund selection and reporting platform): undisclosed amount from new investor 8+ Ventures, and existing investors including VEQ and VNTRS (details page).

• DFRNT (Lund, solutions that transform business data into justified trust): undisclosed amount from BLING Capital and two private US investors (details page).

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• Einride, Stockholm-based sustainable freight mobility technology provider, plans to go public at the New York Stock Exchange via a SPAC. The deal would value Einride at $1.8B in pre-money equity (English).

• NyTeknik released its annual list of Sweden's 33 most innovative and promising tech startups (Swedish, machine translation).

• Enairon and Zparq are the winners of his year's Startup 4 Climate competition, and pocket SEK1M in prize money each (Swedish, machine translation).

• hiasynth, Stockholm-based startup founded by Emma Agering, has come out of stealth, offering a solution for "lifelike conversations with synthetic people" on a Discord server, to "understand a target audience in minutes". ➡️ Startup first covered in PRO on July 18.

• Edgy, Stockholm-based startup developing an "intelligence layer built for the next generation of energy systems", has also emerged from stealth mode. ➡️ Startup first covered in PRO on June 10.

• Specific, Stockholm & San Francisco-based startup which participated in Y Combinator's fall batch, announced the launch of its agent "that builds and deploys backends from natural language" – though it's still waitlisted (English). ➡️ Startup first covered in PRO on September 23.

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• Curve is the new name of Re:meat, the Malmö-based startup which initially focused on technology for cultivated meat production, but now broadens its focus, to offer "scalable, cost-efficient protein biomanufacturing for the industries shaping tomorrow" (English).

• Moving Floor, Visby-based startup offer patented technology to perform automatic cleaning for livestock, signed a collaboration agreement with a company in China, which has an "order potential of up to €50M over a five-year period" (English).

• Event Logic, Gothenburg-based SaaS tool for sourcing, planning, and sending invitations to all types of meetings, events, and conferences, is launching in France (English). ➡️ Impressive 2024 net revenue growth covered in PRO on July 28.

• Flower, Stockholm-based software platform for energy forecasting, optimization and trading, is expanding into Germany, Finland, and the Netherlands (English).

• Aira, Stockholm-based D2C heat pump subscription service, is broadening its scope, by launching a complete home energy system, which includes an inverter and a battery (English).

• Syre, the Stockholm-based provider of textile-to-textile recycling at hyperscale, plans to raise up to $700M to build its next factory, after signing a lucrative deal with Nike (English).

• The applications for the next Sting Core program are open (English).

• The next high-profile hackathon in Stockholm, this one focusing on AI agents, takes place on November 21 (English).

• But not all AI hackathons are happening in Stockholm: HETCH HACKS will take place on November 26 in Helsingborg (English).

• Unconventional Ventures, Nordic early-stage VC focusing on "underrepresented founders building impact tech companies", has reached a €50M first close on its second fund, aiming for a total of €80M (English).

• Vendep Capital, Finland-headquartered VC firm focused on early-stage B2B SaaS companies, has raised its fourth fund at €80M for startups in the Nordics and Baltics, particularly those building AI-first products (English).

• 📺🎧 Evelina Anttila, Swedish investor and startup founder, launches a video podcast talkshow named "Masterclass" (Swedish).

• The "Depict mafia" has a new addition

• A stealth startup founded by Klarna alumni has raised a first, yet-to-be-announced funding round from a Swedish VC firm

• An AI startup from Stockholm will launch a tool that takes any given task via chat, and then builds a background agent "that runs continuously across hundreds of apps, making decisions and completing it autonomously"

• A serial entrepreneur who sold his previous startup, is founding again, now focusing on the energy/climate space

• Another exited serial entrepreneur is now building something in the AI music space

• A startup countering unauthorized drone flights has raised new yet-to-be-announced funding at a 535% valuation increase

• Another digital healthcare provider focused on weight loss has launched

• A new venture builder from Stockholm is recruiting students who want to build real companies while still studying.

• 27 new Swedish tech startups

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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.

• The third edition of the State of the European Angels report, by Nordic Angels and BCG, is out (English).

• Global VC firm Accel published the Globalscape report on the state of the AI and cloud market (English).

• SaaS as we know it is dying. AI is one reason. But a lot is self-inflicted, as many companies "turned customer success into customer extraction" (English).

• Letting someone go sucks, but for startups, there is no way around that – because even the best leaders are often wrong when hiring (English).

• Data Wipe Mailer lets Swedish residents easily request deletion of their personal data from commercial Swedish websites under GDPR (English).

• Swedish game companies increased their revenue by 6.4% to SEK36.8B in 2024, according to the annual report on the state of the Swedish games industry (English).

• As previously announced, IKEA is now launching 21 new smart home products focusing on lighting, sensors, and control — all built to work with Matter, the universal smart home standard (English).

• October saw plugin EVs take 65.7% share in Sweden, up from 62.2% YoY (English).

• Every year, the retail research organization HUI names Sweden's Christmas gift of the year. For 2025, they chose actual toys for grown-ups (nothing naughty) (Swedish, machine translation).

• The Swedish microbrewery Omnipollo is teaming up with German brewery Bitburger to launch a crispbread-flavored beer (Swedish, machine translation).

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

Martin