Swedish Tech Weekly #347: Kärnfull Next, Billhop, Legora, Colive, Udda, Verigraft, Simulair, Endform, Elva, EsterCare, Nava Insights, Fibu, Freya, Inkufy, Reqport, Swirl, gnubok, Up For School, 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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• Kärnfull Next (Gothenburg, small modular reactor project development startup) is being acquired by Swedish nuclear company Studsvik (English). ➡️ Added to the Exits Database for PRO subscribers.

• Billhop (Stockholm, platform for managing supplier payments by credit card) is being acquired by US-based financial operations platform Ramp (English). ➡️ Added to the Exits Database for PRO subscribers.

• Legora (Stockholm, collaborative AI platform for lawyers) is acquiring Canadian-based legaltech startup Walter (English). More on Legora in the funding section.

• The Swedish coliving providers Colive and Udda are merging, but will keep their separate brands (Swedish, machine translation).

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

• Legora (Stockholm, collaborative AI platform for lawyers): $550M in a Series D funding round led by Accel, at a valuation of $5.55B (funding details page)

• Verigraft (Gothenburg, generates personalized tissue-engineered transplants for use in regenerative medicine): SEK110M (€10.3M, $12M) from an unspecified "existing long-term shareholder" (funding details page)

• Simulair (Stockholm, machine for fighting bed bugs, founded 2022): SEK20M (€1.9M, $2.2M) led by Pomonagruppen (Swedish / Di Digital paywall, funding details page).

• Endform (Stockholm; developer tool that speeds up website and app testing, and helps teams catch and fix issues faster): €1.5M ($1.7M) in a seed funding round co-led by Alliance VC, Antler, First Fellow Partners, and Greens Ventures (funding details page). ➡️ Startup first covered in PRO in February 2025.

• Elva (Stockholm & Helsinki, tech-driven immigration and relocation company helping teams hire and move global talent without the complexity): €1.3M ($1.5M) in a pre-seed funding round led by Lifeline Ventures (funding details page).

• EsterCare (Stockholm; digi-physical healthcare provider specialized in women's health): SEK7M (€650K, $760K) from Tommy Jacobson and existing investors Vera Invest, Impact Invest, and The Inner Foundation (funding details page).

• Nava Insights (Stockholm, conversational research powered by AI voice interviews): undisclosed amount in an angel round (Swedish / Breakit paywall, funding details page). ➡️ Startup first covered in PRO on January 19.

• Fibu (Västerås, patented bio-based foam technology): SEK4.26M (€400K, 470K) grant from the Klimatklivet program (English).

• Freya (Stockholm, intelligent security solutions for the physical domain): SEK2M (€190K, $220K) in first funding from the founders, Longswan Ventures, and Propel Capital. With this, Freya comes out of stealth (English, Swedish / Breakit paywall, funding details page). ➡️ Startup first covered in PRO in March 2025.

• Inkufy (greater Jönköping area; solution for ensuring time, contractor and delivery in cleaning and service assignments): undisclosed amount from Entreprenörinvest and Investment AB Myran (funding details page).

• [PRO last week] In conjunction with its Sweden launch, a Norwegian investment app startup secured backing from a Swedish specialty investment firm

• [PRO last week] A digital pet insurance startup raised its largest funding round to date, yet-to-be-announced, at the highest valuation so far.

• [PRO last week] A membership-based next gen performance health clinic raised a yet-to-be-announced angel round.

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

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

• 📺 Bloomberg Television conducted a field trip to Stockholm and spoke to a number of key players, to learn about Sweden's tech and unicorn success (English / 23 minutes).

• BLING Incubator has selected 14 startups for its second cohort (Swedish, machine translation).

• Reqport, Stockholm-based splatform for companies to better manage data requests from law enforcement and government authorities, has emerged from stealth mode (English). ➡️ Startup first covered in PRO on February 5.

• Swirl, based in Stockholm, has launched its hyper-personalised wine discovery app after a period in stealth (English). ➡️ Startup first covered in PRO in December 2024.

• gnubok is "the first fully open source ERP built for Swedish businesses", launched by Stockholm-based SME financing platform Arcim, (English). ➡️ Startup first covered on PRO in October 7.

• Up For School, a Stockholm-based startup founded by the repeat-founders Annika Sigfrid and Annika Rissjö Jovanovic, launched its marketplace for finding a study coach for homework ➡️ Startup first covered in PRO on December 2.

• Oriktigt Uppsagd is a new startup and platform launched by Orimlig Hyra, designed to help households challenge eviction decisions (Swedish, machine translation).

• Lovable increased ARR to $400M, up from $300M a month ago and $200M at the end of last year (English). The company also launched its first ever brand campaign (English).

• Barnebys, Stockholm-based company operating "the world’s leading search service for art, antiques and collectibles", is bankrupt, after having raise over SEK250M in funding (English / PRO March 12).

• Galaxy Biosolutions, a Chalmers Ventures-backed Gothenburg-based developer of sustainable sweeteners through yeast strain genome editing, is being liquidated (Swedish / Impact Loop paywall).

• Nordic Air Defence, Stockholm-based developer of a low cost interceptor for hunting down and destroying uncrewed aerial systems, is launching a Polish subsidiary, to partner with the country's defense sector (Swedish / Di Digital paywall).

• Oscar Höglund, co-founder of Stockholm-based music licensing provider for creators Epidemic Sound, is stepping down as CEO after 18 years (English).

• Stegra, the Stockholm-based fossil-free steel startup, reportedly tells potentially investors that it needs to raise €2B in funding, double the amount previously cited (English, Swedish / Di paywall).

• EQT is exploring a sale of open-source software company SUSE in a deal that could ​value it up to $6 billion (English).

• "The moment you celebrate someone as a 'female founder', you have already put them in a box" write Swedish founders Hedda Båverud Olsson, Dora Palfi, Sara Landfors and Isabella Palmgren (English).

• Y Combinator will have something going on in Stockholm next month, according to a teaser posted on LinkedIn by Sweden-born YC partner Gustaf Alströmer (English).

• {Tech: Europe} is returning to Stockholm on March 28 for another high-profile AI hackathon – this one particularly targeted at founders/"pre-founders" ( English).

• KTH Innovation is hiring a Program Manager for its startup programs (Swedish, machine translation).

• Katapult, Norway-based impact investment firm, is launching a €50M fund for investments in Nordic startups that focus on the "ocean economy" (Swedish / Impact Loop paywall).

• Incore Invest, Swedish fintech investor, has hired Michelle Rafie as Investment Analyst (English).

• [PRO last week] A stealth startup from Stockholm co-founded by a high profile founder, wants to upgrade electrical grids.

• [PRO last week] One of Sweden's most well connected startup investors is one of the founders of a stealth mode 15,000 sqm physical AI hardware lab in Stockholm, initially targeting hardware/hardtech startups as customers.

• [PRO last week] A stealth startup from central Sweden working on a control layer for agentic AI, is raising a pre-seed round.

• [PRO last week] There are now at least two startups in Stockholm that are building "Lovable for Hardware".

• [PRO last week] An energy startup from central Sweden, which most recently reported a small profit on net revenue of over SEK30M, is bankrupt.

• [PRO last week] On the other hand, an under-the-radar energy startup from Gothenburg grew 2025 net revenue by 65% to almost SEK200M, and profit to SEK20M.

I covered many more news – many of which have not been reported elsewhere – and more details for each, in Swedish Tech News PRO last week.

You can upgrade to a PLUS or PRO plan, to get access to the following features:

• Nordic Space & Defense Summit – March 18-19 – Stockholm
• Åre Business Forum – March 18-20 – Åre
• The Pitch – March 18-19 – Åre
• Stockholm Fintech Week – March 18-19 – Stockholm

For more major and flagship events, check the Swedish tech event calendar.

• TechChill 2026, one of the largest Baltic Tech events – March 25-27 – Riga, Latvia

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

• GTM Associate (Arkivia)
• Head of Finance (Preventai)
• Operational Co-Founder (Allenvo)
• Founders Associate (ethira)
• Fullstack Product Engineer (Centi)
• Various incl. Senior Payments Engineer, Senior Product Engineer, Technical Support Lead (Polar)
• Software Engineer, Customer Success, Production Engineer Lead (Simulair)
• Sales & Community Lead (Elias)
• Customer Success Manager (TicTac)
• Head of Sales (Europe) (Proposales)
• Software System Architect (Paliscope)
• Founding GTM (Emfas)
• Full Stack Developer (Meela)
• Chief Financial Officer (Hailey HR)
• CEO (Epidemic Sound)
• Medical Operations Manager (Din Psykolog)
• CFO (Hypocampus)

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.

• Just Move to Europe is a tool offering playbooks on how to relocate to various European cities (including Stockholm) (English).

• The initiative Rebuild calls for the rebuilding of European social platforms (English).

• Founders should provide an investment memo when pitching VCs (English).

• The question nowadays his how to build something that gets harder to kill the longer it exists (English).

• A majority of the 4500 former Northvolt employees who lost their jobs have reportedly found new employment after help from so-called "transition organisations" (English).

• Swedish car dealers and repair shops experience an increasing amount of AI-generated complaints from dissatisfied customers, some of which provide manipulated image evidence (Swedish, machine translation).

• Affärsvärlden's latest ranking featuring Sweden's 51 dollar billionaires (Swedish, no machine translation available).

• Swedes' alcohol consumption keeps decreasing (English).

• Stockholm is getting a direct flight to Shanghai again: China Eastern is restoring a route that was suspended for six years (English).

• Hornsgatan, a lively central road in Stockholm's Södermalm district, will be converted into a pedestrian walkway on four weekends between June and October (Swedish).

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

Martin