Swedish Tech Weekly #356

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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• Swedish PE firm Altor submitted a bid to acquire the publicly traded Swedish sleep tracking company Sleep Cycle, for SEK497M (€46M, $54M)(English).

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

• Ingrid Capacity (Stockholm: develops and operates the technology that makes renewable energy reliable): SEK400M (€37M, $43M) through the company's inaugural bond issuance (English).

• Elvy, formerly Geofy (Stockholm, long-term power subscription provider): SEK70M (€6.4M, $7.5M) led by Daft Capital and existing investor Essential Capital. Angel investors including Mathias Kamprad also participated (funding details page).

• AirForestry (Uppsala, drone technology for forest thinning): SEK47.5M (€4.3M, $5M) grant from Vinnova (Swedish, machine translation).

• Flox (Stockholm, AI enabled technologies for wildlife management built on science): $1M prize money after winning the GENIUS NY Finals — "the world’s largest accelerator for unmanned systems" (English).

• pickel (Gothenburg, intelligence platform for profitable EV charging networks): SEK6M (€550K, $650K) in first funding from Almi Invest, Wellstreet, and angel investors (funding details page). ➡️ Startup first covered in PRO on September 5.

• Acerna (Acerni Technology AB) (greater Gothenburg area; solutions for farmers and horse owners that increase safety and efficiency, save time, and improve profitability): SEK6M (€550K, $650K) from Almi Invest and LRF Ventures (funding details page).

• Junipeer (Stockholm, iPaaS platform made for e-commerce): SEK4M (€370K, $430K) from existing investors (funding details page).

• [PRO last week] A startup specialized in error-conscious AI, has raised over SEK15M in first, yet-to-be-announced funding from a Swedish investor.

• [PRO last week] A medtech startup raised what appears to be a Series A round led by a Nordic VC firm – yet-to-be-announced.

• [PRO last week] A stealth startup building an IR tool for listed companies, raised first funding at a pre-money valuation of SEK80M.

I covered many more funding rounds, and more details for each, in Swedish Tech News PRO last week. Learn how to get access to PRO.

• Berget AI, provider of sovereign AI infrastructure for Europe, has launched Berget Code, a service for agentic coding hosted in Sweden built on open-source software and open models (English). ➡️ Startup first covered in PRO in March 2025.

• Apropos: Berget AI got a new competitor, as Stockholm-based AI provider "for developers, authorities and ordinary people" Grunden launched last week.

• Two Swedish VCs published open letters offering contrasting views on the same issue: Veteran investor Pär-Jörgen Pärson warned of an “AI Armageddon in Stockholm” and urged founders to “cut the bullshit […] and start looking for really hard customer problems to solve” (English). Max Larsson of Wave Ventures responded with a more bullish perspective, defending ambitions that may initially appear unrealistic or even naive (English).

• Moni, based in Stockholm and founded by repeat founder Jonathan Andersson, has emerged from stealth mode, offering automated receipt management for businesses. ➡️ PRO subscribers learned about unannounced funding; startup first covered in PRO on November 14.

• Mimicate wants to become a "European Palantir – but without war and misery". The company says it distinguishes itself from similar contenders by building and relying on actual world models (Swedish / Breakit paywall). ➡️ Startup first covered in PRO in May 2025.

• Klar (formerly Tentaklar), a Stockholm-based startup founded last year offering a learning agent for students, signed partnerships with several Swedish universities worth over SEK8.6M, according to co-founder and CEO Isabel Storgårds (English). ➡️ Startup first covered in PRO in September 2025.

• Liquid Wind, Gothenburg-based eFuel facility developer founded in 2017 which has raised over €60M in equity funding, is bankrupt (Swedish, machine translation). ➡️ Added to the "Bankruptcies & Shutdowns" Database for PRO subscribers.

• RM Labs, a startup from the greater Sundsvall area, announced having developed a natural sweetening solution based on stevia, developed for the beverage industry (English). ➡️ Startup first covered in PRO in September 2025.

• Arkus AI, based in Stockholm, has launched what could be described as Lovable for healthcare/wellness agents.

• The use of AI transcription from Tandem Health in Swedish primary care – specifically, in the Gävleborg region – is being reviewed by Sweden's privacy watchdog IMY (Swedish, machine translation).

• Andon Labs, the Swedish startup which stress-tests AI agents in the real world and regularly attracts media attention, let four AI agents run radio companies (English). ℹ️ Company details

• Rastahunden has launched, providing a map-based guide to dog-friendly places across Sweden.

• Swish, Sweden's ubiquitous instant payments app owned by a number of banks, added a feature to share the cost of a purchase with up to 10 people (English).

• Niklas Östberg, the Swedish co-founder of Germany-headquartered local delivery platform giant Delivery Hero, will step down as CEO after 15 years, at the end of March 2027 (English).

• Techarena, which runs various tech events including its annual flagship in Stockholm, will do an international event tour, visiting London, Paris, Copenhagen, Munich, Turin, and San Francisco (English).

• The Nominations for the Nordic Fintech Awards 2026 are open (English).

• Front Ventures, publicly traded Swedish defense-focused investment firm, has raised €5M through a rights issue (English, Swedish).

• Hampus Jakobsson, co-founder and GP of Malmö-based VC firm Pale blue dot, is writing a soon-to-be-released book on willpower (English).

• [PRO last week] A startup whose product connects enterprise data silos to a governed semantic backbone, is raising a €2.5M pre-seed round. PRO subscribers got the pitchdeck.

• [PRO last week] A startup that's building a memory engine for AI systems, has quietly emerged from stealth mode.

• [PRO last week] A Swedish serial founder has launched a startup helping companies to leverage happy customers for marketing across various channels. The goal: $100K MRR in 6 months.

• [PRO last week] The "Lovable mafia" has a new Swedish addition.

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. Learn how to get access to PRO.

• Connect Resilience Tech-X Day – May 20 – Stockholm
• Startup Investment Night – May 21 – Trollhättan
• Streaming Tech Sweden – May 21 – Stockholm
• Impact Loop BUILD – May 21 – Stockholm
• Nordic Blockchain Conference – May 26-27 – Stockholm
• Breakit Resilience Summit – May 27 – Stockholm
• MobilityXlab Reconnect Day – May 27 – Gothenburg
• Nordic Scaleup Awards – May 28 – Stockholm

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

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

• Founding Engineer (Senior Data Engineer), Software Engineer (pickel)
• Founding Designer (eve)
• Founding AI Engineer, Founding Data Platform Engineer (Orb DB)
• Founding Full Stack Developer (Samfora)
• Founding GTM Manager, Founding Growth (Stilla)
• Tech Lead Engineer – Spatial Intelligence (Staer)
• Software Engineer (Cordicity)
• Executive Assistant (T-Unit)
• Field Application Engineer (TERASi)
• Enterprise Account Executive (Insurance) (Braive)
• Senior Frontend Engineer (Sendify)
• Various incl. AI Engineer, Growth Manager, Growth Manager, Finance AI Specialist (Grasp)
• CTO/CPO (Depict)
• Software Developer (Monitum)
• System Engineer - Infra (SolidSport)
• Battery Operations Manager (Done)

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.

• Swedish serial entrepreneur Mikael Pawlo: "European potential founders, and Swedish ones in particular, need to internalize an uncomfortable fact: nobody is coming to save the continent. [...] The only thing that will save us from technological irrelevance is if we decide to build the future ourselves" (English).

• Point Nine, a Germany-based VC firm, launched a test for organizations to find out how AI-fluent they are (English).

• When a startup's VC leaves, the company gets re-evaluated inside the firm. Not in a meeting. Not in a memo. Just in where attention flows (English).

• San Francisco's housing market has lost its mind (English)

• 91% of Swedish companies believe that AI will reduce the number of employees within five years. That figure compares to only 16% a year ago (Swedish / Di Digital paywall).

• Daniel Stenberg, the Swedish founder and solo developer of the free open source command line tool and library curl, got the chance to run Anthropic's Mythos AI model. His conclusion: "primarily a marketing stunt" (English).

• The Wall Street Journal describes Sweden as "the world’s most surprising capitalist makeover" (English).

• Researchers at Gothenburg's Chalmers University have developed a new AI method that adapts fast charging to the health of the battery (English).

• Sweden has passed 800,000 limited liability companies (AB) (Swedish, machine translation).

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

Martin