News April 12, 2024: Marathon Software, Keeros, Mycorena, AI Medical Technology, Cinter, Plantvation, Sana, Replicate, Guestit, Devward, 13 new Swedish tech startups, and more
Here are today's news from Sweden's startup and tech sector, exclusively for you as subscriber of Swedish Tech News PRO.
Mergers & acquisitions
- Marathon Software, Stockholm-based investment firm specialized in niche software companies, acquired 70% of Gothenburg-based startup Keeros, a provider of a complete solution for invoice financing, accounts receivable management, and lending, to financial companies. The price was not disclosed. In conjunction with this news, it was also announced that Marathon Software recently raised over SEK110M (€9.6M, $10M) in funding for further investments (English, Swedish / Di Digital paywall). Keeros was founded in 2011 by Henrik Rosvall and potentially some others. The company has not registered any equity funding with Bolagsverket. 📊 For the financial year that ended in February 2023, Keeros reported net revenue of SEK12.5M (up 15% YoY), and a profit of SEK2.7M.
Funding news
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- Mycorena (Gothenburg, developer of fungi-based vegan protein, founded 2017): €175K ($190K) grant from the European Space Agency's (ESA) Discovery Programme, for the project "Resource Efficient Food Production System for Space Travel" (English). A year ago, the startup secured a €1.5M grant from the EU for another project.
- Luminar Ventures participated in a €5M seed funding round raised by Norway-based startup Photoncycle, which is building a "space-effective, autonomous energy system powered by the sun, enabled by innovative technology, affordable for many" (English).
Unannounced funding
- AI Medical Technology (Stockholm, AI powered diagnostic solutions enabling healthcare providers to make faster and more reliable diagnoses, founded 2020): SEK3.7M (€320K, $350K) from undisclosed investors. The pre-money valuation was SEK102.5M, up 33% from a year ago, after the company raised an oversubscribed funding round. The round originally aimed for SEK10.8M, but eventually grew to SEK13.9M, according to data registered with Bolagsverket. 📊 For 2022, the startup reported net revenue of SEK5.5M, and a loss of -SEK2.3M. UPDATE APRIL 29: The round, which totals SEK12M, has now been announced.
The information in this section is based on public data registered with Bolagsverket (Swedish Companies Registration Office), and represents a curated, non-exhaustive selection.
Data from Bolagsverket is sourced via Eivora.
News from Swedish startups, the tech sector and VCs
