Swedish Tech Weekly #335: Crosser, Bintel, Brocc, Effektify, Recuro, Trill Impact, Elvy, Ecaps, Melt&Marble, Amferia, nomio, Leyr, Repli5, Proplab, Cyclicor, CYBRET AI, Causergy, Incredible, Staer, 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.

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• Crosser (Stockholm, edge analytics & integration for industry 4.0 and industrial IoT) has been acquired by the UK-based, Schneider Electric-owned industrial software company Aveva (English, Swedish / Di Digital paywall).

• Bintel (Lund, developer of smart waste management technology) has been acquired by Norway-based industry peer REEN (English, Swedish / Impact Loop paywall).

• Brocc (Stockholm, digital provider of consumer financing and savings solutions) is being acquired by US-based alternative investing firm Cerberus Capital Management (English).

• Effektify (Halmstad, platform for managing business growth and marketing) acquires Recuro, a Stockholm-based growth partner for tech-driven companies helping them to accelerate profitable revenue (English, Swedish / Breakit paywall).

• Incore Invest, Swedish fintech investment firm, is buying the Swedish payments orchestration business CoreOrchestration AB from French payment firm Worldline for €160M ($186M) (English, Swedish / Di Digital paywall).

• Trill Impact, Stockholm-headquartered impact investor, has acquired a majority in Norway-based tech-enabled SME energy supplier Noova Energy Systems (English).

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• Elvy, formerly Geofy (Stockholm, long-term power subscription provider): €500M ($590M) debt financing from a banking partner facilitated through Scayl (English).

• Ecaps (Stockholm, develops and manufactures advanced rocket engines and ADN-based propellant solutions): €20M ($23M) in venture debt funding from the European Investment Bank (EIB) (English).

• Melt&Marble (Gothenburg; designer fats and lipids for next generation food and personal care): €7.3M ($8.5M) in a Series A funding round led by Industrifonden (funding details page).

• Amferia (Gothenburg; developer of materials that can efficiently kill bacteria when used as medical devices, for example within wound care): €3.5M ($4.1M) from undisclosed investors (English, Swedish / Di paywall). ➡️ Funding first covered in PRO on October 24.

• nomio (Stockholm; patented and clinically science-backed performance enhancer for athletes, made from natural ingredients): SEK38M (€3.6M, $4.2M) led by Collaborative Fund (Swedish / Di Digital paywall).

• Leyr (Stockholm, integration platform for healthcare providers): €1.5M (€1.75M) led by Fil Rouge Capital, with participation from existing investor Icebreaker.vc (funding details page).

• Repli5 (Gothenburg, synthetic data engineering for computer vision): SEK6.2M (€570K, $660K) led by Almi Invest (funding details page).

• Proplab (Helsingborg, AI-powered platform for simplifying a real estate developer's everyday life): SEK4.5M (€410K, $490K) from existing investors (funding details page).

• Cyclicor (Lund, bio-based polymers using a novel green technology where both the production process and the final polymer are completely free from hazardous chemicals): SEK3.2M (€290K, $340K) from existing shareholders (funding details page).

• CYBRET AI (Stockholm; autonomous cybersecurity research and development lab): undisclosed amount in pre-seed funding from Skyfall Ventures, Inception Fund, Visionaries Club, Wave Ventures, FR8, and angels (funding details page). ➡️ Startup details and funding first covered in PRO on Dec 11.

I covered many more funding rounds, and more details for each, in Swedish Tech News PRO last week.

Startup founders: Request free access to my funding and investor database. Useful during your fundraising process.

A unique package with high quality curated data and information on Swedish tech startups.

• Causergy has emerged from stealth mode. The company, founded by former Pilloxa co-founder Per Nilsson, is building causal AI for reducing fuel use and emissions at power plants (English). ➡️ Startup first covered in PRO on November 10.

• Incredible, Jönköping-based AI startup formerly named VISS.AI, has released Agent MAX, touted as "the most advanced AI agent engine, ideal for deep work". With the launch, Incredible scored the top spot at Product Hunt (English).

• Staer, Malmö-based startup developing physical AI for autonomous mobile robot fleets, hired Swedish Apple engineering veteran Martin Byröd. Staer was co-founded by 2x exited serial entrepreneur Jan Erik Solem (English). ➡️ Startup covered in PRO on September 5

• Quickbutik, Helsingborg-based platform for running an online shop, is integrating a Lovable-powered vibe coding feature into its product, to let merchants "customize their stores in minutes, for free" (English, Swedish).

• Flow Neuroscience, Malmö-based maker of a wearable headset for medication-free depression treatment, will launch in the US in Q2 2026, following FDA approval (English). ➡️ A while ago, PRO subscribers learned about the company's most recent fundraising activities

• Brief profile of Craime, a Luleå-based platform for legal information and case search founded by a tech industry veteran, Andreas Harnemo (Swedish, machine translation). ➡️ Startup first covered in PRO on September 24

• Zaver, Stockholm-based payment provider, says it has attracted over SEK1B in deposits, less than two months after launching a savings account with competitive interest rates for consumers (English, Swedish / Di Digital paywall).

• Triagex, Trustyou, and Strainsafe won at last week's final of the För-orten startup competition 2025 (Swedish, machine translation).

• Stunlock Studios, Skövde-based game studio, tops this year's edition of Deloitte's "Sweden Technology Fast 50" ranking (English).

• Founder transition at the helm of AirForestry, Uppsala-based developer of drone technology for forest thinning: Olle Gelin is handing the CEO role to Caroline Walerud (English).

• Qualia, a Copenhagen (DK)-based startup whose four-person founding team comprises three Swedes, has emerged from stealth mode to offer foundation model infrastructure for robots, backed with €2M pre-seed funding round (English, Swedish / Breakit paywall).

• Instabee is opening up Instabox parcel lockers to circular-economy platforms, enabling hyperlocal second-hand transactions. The first partner for this is Plick (Swedish, machine translation).

• Mattias Lindell, co-founder of Stockholm-based startup Openroll, took the stage at last week's Y Combinator demo day wearing a double polo shirt combo – a tribute to Sam Altman’s iconic look on stage roughly 20 years ago (English).

• The segment of Swedish serial acquirers of niche SaaS providers is booming, with competition for profitable companies driving up prices, while worries about the impact of AI on the business models don't seem to exist (Swedish / Breakit paywall).

• On 1 July 2026, the City of Stockholm will reduce the number of permits for providers of shared e-scooters operating in the city from three to two (Swedish / Di Digital paywall).

• EQT Group signed a partnership with EQT Ventures' Norway-founded portfolio company 1X, aiming to ship up to 10,000 1X Neo humanoid robots to EQT’s more than 300 portfolio companies (English).

• SaaSiest 2026, the "largest community-driven B2B SaaS event in the region" will take place on May 5-6 in Malmö (English). ➡️ Added to the Swedish tech event calendar

• 🎧 Podcast interview with Siddharth Khullar, co-founder and CEO of Aris Machina, the Stockholm-based "industrial superintelligence" startup which recently raised Sweden's likely largest pre-seed round $10.7M (English / 48 minutes).

• An AI startup has raised a yet-to-be-announced first larger funding from an early Lovable backer, and potentially others

• Two repeat hardtech founders are developing "humanoid robotic workers for anyone", currently in stealth

• Another new stealth mode startup is focused on the long-term goal of making flying cars a reality

• Meanwhile, a stealth startup from southern Sweden is resuming work on in-space compute, after a short pause

• Two veterans in the photography/TV/film space have launched a startup offering AI-powered relighting tools

• A fintech from Gothenburg raised SEK30M in yet-to-be-announced funding, at a 220% valuation increase

• A death tech startup raised first larger, yet-to-be-announced funding from a renowned Swedish investor

• Bankruptcies: a market intelligence platform for fashion retail and brands, a developer of solar hybrid technology, and a media monitoring solution for the healthcare and pharma sector

• Raising first funding/first larger funding: a solution for streaming platforms to keep viewers engaged in real time, a startup whose product tracks fetal movements, and a startup helping businesses counter social engineering

And much more. PRO is invite-only, and read by many of Sweden's best and most active startup investors. Service providers targeting Swedish startups also find it useful.

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

• Fullstack Developer (EasyScan)
• Backend Developer (GeoGuessr)
• Founding Engineer (Mimr Analytics)
• Senior Backend Engineer (LeadWatch)
• Founding Engineer, Founding Security Engineer, Founding Researcher (CYBRET AI)
• Growth/Product Marketer (Elfcare)
• Production Manager (Aniara)
• Various incl. Security Engineer, Infrastructure Lead, GTM (Intric)
• Revenue Operations Specialist (Tendium)
• Versatile Electroncis Engineer (BATIXT)
• Director of Business Development (Mentimeter)
• Customer Success (Reda)
• AI Engineer – Imaging & Data Fusion (Green Urbansights)
• Legal Engineer - Law Firms EMEA (Legora)

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.

• European tech must now build a power machine (English).

• What’s next after you lose someone's money (English).

• How to spot a top 1% startup early, according to the earliest employees of top companies (English).

• Romanian-founded SaaS marketplace Tekpon has acquired 100% of the European tech news outlet The Next Web's media and events brands from the FT (English).

• Report on the state of seed startups (in the US) (English).

• AI has fundamentally changed how early teams form (English).

• Some tech companies' executives are announcing that they are “refounding,” essentially rebranding, as A.I. startups (English / NYT paywall).

• Sweden has become slightly more equal over the past decade (English / The Local paywall)

• Sweden has the lowest use of external finance in Europe (English).

• Sweden’s stock exchange has a lot to live up to in 2026, after a year in which it was the largest venue in Europe for initial public offerings and the fifth largest worldwide (English / Bloomberg paywall).

• Stockholm is Europe’s new capital of capital (English / Economist paywall).

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

Martin