Swedish Tech Weekly #348: Candela, Everdrone, Sand Clinic, Noru, Flowity, VivoProtect, CTI, Tab Technology, Lovable, Nordan AI, evroc, Blykalla, Catalsy, Lobba, Kapsel, eclean, SMAQO, Enjay, Samfora, 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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• Candela (Stockholm, manufacturer of hydrofoiling electric boats and ferries): €30M ($35M) from all existing shareholders and investors, including EQT Ventures and SEB Private Equity, and new investor International Finance Corporation (IFC) (funding details page).

• Everdrone (Gothenburg, autonomous drone service for life-saving emergency response): SEK36M (€3.3M, $3.8M) in a funding round led by Sciety (funding details page). ➡️ Partial closing first covered in PRO on October 23.

• Sand Clinic (Stockholm; private members club offering prevention and precision medicine with a focus on longevity): SEK15M (€1.4M, $1.6M) from existing investors – the Spotify founders Daniel Ek and Martin Lorentzon (Swedish / Breakit paywall, funding details page).

• Noru (Stockholm, AI-native platform for regulatory compliance): SEK6M (€560K, $650K) in a pre-seed funding round led by Ampli Ventures (funding details page). ➡️ Startup first covered in PRO on October 17.

• Flowity (Stockholm; smarter, safer roads powered by AI-driven computer vision): SEK5M from Seedbridge Capital, SSE Ventures, and others (Swedish / Breakit paywall, funding details page). ➡️ Startup first covered in PRO in February 2024.

• VivoProtect (Lund; probiotic bactery strains for extending shelf-life, minimizing food waste and revolutionizing food hygiene): SEK3M (€280K, $320K) from board members, LU Innovation, LU Ventures, SLU Holding, Skåne Ventures, and eight angel investors (Swedish / Rapidus paywall, funding details page). ➡️ Startup first covered in PRO in August 2024.

• CTI – Climate Tracker Initiative (Stockholm; solution that combines AI, intelligent automation, and expert human oversight to deliver reliable ESG data on any company worldwide): SEK2.8M (€260K, $300K) from Viredo and Kalle Nilvér, among others (Swedish / Impact Loop paywall, funding details page). ➡️ Startup first covered in PRO in April 2024.

• Tab Technology (Stockholm, building the infrastructure to enable digital receipts at massive scale): undisclosed amount from Wellstreet (English, Swedish / Breakit paywall, funding details page). ➡️ Startup first covered in PRO in March 2024.

• [PRO last week] A startup from central Sweden, that develops AI knowledge retention tools for control room personnel and organizations, raised first funding.

• [PRO last week] A stealth startup from Stockholm, that's building "the digital core for the world’s most complex operations", has raised first unannounced funding.

• [PRO last week] Another stealth startup from Stockholm also raised first, yet-to-be-announced funding. The company is working on real-time, offline-capable account-to-account payments.

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.

• Nordan AI, the new Swedish AI lab founded by Evelina Anttila, is slowly, in small steps, emerging from stealth mode. The first product: an "agent-native decision support system built by domain experts, with models trained specifically for security protection" (English).

• With new features, Lovable is going beyond just being an AI web app builder, aiming to become a user's "data scientist, business analyst, deck builder, and marketing assistant" (English).

• evroc, Stockholm-based European cloud provider, announced roc, an enterprise AI agent built for enterprise use cases, and evroc Think, a sovereign AI platform designed to help organizations run advanced AI workloads on European infrastructure (English).

• Blykalla, Stockholm-based developer of modular nuclear reactor technology, plans to initiate the permitting process for its planned SMR park in Gävle, which would provide electricity for around 150,000 households, a large-scale industrial operation, or a medium-sized data center (English).

• Catalsy, founded by the founders of DPOrganizer, has come out of stealth. The company is offering what it describes as "intelligent risk nervous system for modern enterprises, integrated in real data streams". ➡️ Startup first covered in PRO on January 26.

• Lobba, Stockholm-based startup founded last year, has launched its solution for political influence. Lobba is integrated with Outlook, and syncs a user's calendar with Members of Parliament meetings, votings, and plenary weeks. ➡️ Startup first covered in PRO in March 2025.

• Kapsel has launched, a Stockholm-based e-commerce and resilience startup that offers a "Swedish preparedness system", aimed to get households through 7 days of crisis. ➡️ Startup first covered in PRO on March 19.

• eclean, a startup based in Skellefteå, launched the public beta preview of its software for Windows 10 and 11, promising to optimize the PC "to make it feel new again, with safe changes you can undo anytime" (English). ➡️ Startup first covered in PRO on September 25.

• SMAQO, Gothenburg-based startup founded last year by former Mycorena founder Ramkumar Nair, has rolled out its first product – blended meatballs made with beef and mycoprotein (English). ➡️ Startup first covered in PRO in April 2025.

• Blodtrycksdoktorn, Lund-based digital healthcare provider focusing on hypertension management and weight loss, is entering a corporate restructuring process, while transitioning from publicly funded care to a private-pay model (Swedish, machine translation).

• Enjay, Malmö-based developer of technology to recover the energy in kitchen fumes to heat the rest of the building, is launching an optional Energy-as-a-Service (EaaS) model (English).

• Samfora, Stockholm-based donation platform founded last year, is expanding its offering with a data platform for non-profit organisations, located under the separate domain samfora.io (Swedish, machine translation).

• Min Doktor, Malmö-based digital healthcare provider, turned profitable, and increased revenue in 2025 by around 20% to around SEK400M (Swedish / Di Digital paywall).

• Yazen, the digital weight loss healthcare provider, was named Malmö's Startup of the Year 2026 (Swedish, machine translation).

• Montrose, a platform for retail public market investors launched last year by Carnegie, claims to be the first in Europe to allow customers to connect their stock and fund portfolio to their own AI interfaces, powered by MCP (Swedish).

• AI Gothenburg has launched, a new public-private hub "created to make the region the Nordic epicenter for starting and scaling AI-driven companies" (English, Swedish / Di Digital paywall).

• Techevent.se is a new site trying to capture and list all tech-related events in Sweden – online and offline, major and minor ones.

• Einride and Geoguessr paid the highest CTO salaries in 2024 among Swedish tech companies, by a wide margin, according to a Breakit ranking. Einride's CTO earned an annual salary of SEK8.8M (Swedish / Breakit paywall).

• The Swedish FinTech Association published their annual report on the state of the Swedish fintech sector (English / PDF, Swedish / PDF).

• Swedish VC Henrik Torstensson on how AI changes software building, startup scaling, and software value creation (English).

• Pinecone Ventures will fly 40 builders in a chartered plane to Visby during Almedalen Week. The participants will then have 24 hours to build, pitch, and get funded. The applications open soon (English).

• Georgi Ganev is leaving the CEO role at Kinnevik with immediate effect (English).

• [PRO last week] A startup from western Sweden is building CAD for AI, with a focus on the aerospace sector. The company is now raising SEK20M in a pre-seed round.

• [PRO last week] A stealth startup founded by senior operators, is gearing up to launch its self-service tool for teams to launch studies independently, promising global reach of verified respondents in real-time. Last year the company raised over SEK10M in yet-to-be-announced funding.

• [PRO last week] A Stockholm-based fintech ended 2025 with 160% YoY ARR growth, just crossing the SEK120M mark. Two Mag 7 companies are customers.

• [PRO last week] A VC-backed AI-powered compliance startup went bankrupt, and an angel-funded instant payments startup apparently shut down.

• [PRO last week] A startup from the US, which develops a platform for analyzing and monitoring nature and landscapes, joined a Swedish accelerator program.

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:

• Skåne Capital Day – March 24 – Lund
• TechChill – March 25-27 – Riga (LV)
• DanAds | Summit 26 – April 15 – Stockholm
• Mashup – April 15-16 – Malmö

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

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

• Platform Engineer (Pit)
• Senior Product Designer (ethira)
• Founder's Associate (Vesence)
• Software Engineer (Dema)
• Various security-related roles (Lovable)
• TA partner (Quinyx)
• Data Engineer (Swimbird)
• Fullstack Developer (Taigatech)
• Mechanical Design & Development Engineer (Rebaba)
• Senior Full Stack Engineer (AI-Native) (Voi)
• Account Executive (QA.tech)
• Experienced Battery Materials Engineer (Westra)
• Technical Project Manager (SeaPattern)
• Customer Success Manager (OneMore Secure)

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.

• The European Commission has presented its proposal for EU Inc., with one key ambition being to allow to incorporate within 48 hours, from anywhere in the European Union, fully online (English).

• Europe's tech startup market is experiencing cognitive dissonance, being overall bearish, but with a specific bull flavor (English).

• In the US, solo founders are increasingly common; two-person founding teams are most likely to raise VC funding; and more founding teams are dividing equity equally (English).

• Y Combinator's CEO Garry Tan says he got “cyber psychosis” and is barely sleeping because he’s so excited to be working with AI agents (English).

• Founders are increasingly leasing multimillion-dollar mansions in San Francisco's wealthy neighborhoods as corporate HQs and hacker houses, amid the AI boom (English).

• “In terms of AI in software, I think people should understand that apps are going to disappear" says Carl Pei English).

• Sweden ranks #5 in the World Happiness Report 2026, the same as last year (English).

• A majority of young people in Sweden want an age limit on social media, according to a representative survey among 15-24 year olds (Swedish, machine translation).

• Sweden's central bank is threatening banks with new regulations to encourage the uptake of instant domestic payments (English).

• Last year, subscription-based audio streaming revenue in Sweden climbed 2% YoY to SEK1.95B, accounting for 85% of all music revenues (English).

• Also last year, more than 3 billion cans and bottles were deposited in Sweden – 130 million more than in 2024, representing 88.4% of all cans and bottles sold (Swedish, machine translation).

• A further 50,000 employees will be needed to work inside Sweden's elderly care sector by 2030 in order to meet the growing challenge of Sweden's ageing population (English).

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

Martin