News August 8, 2022: Apotekamo, Green-On, Glue and more

Here is today's curation of news from Sweden's startup and tech sector, exclusively for subscribers of Swedish Tech News.

Funding news

• Apotekamo (Stockholm, operator of an online pharmaceutical marketplace targeting the Central and Eastern European markets): €2.5M ($2.5M) in a funding round led by existing investors Epti and Angelgate, with participation from Bosnian football star Hasan Salihamidžić, at a pre-money valuation of €14.6M (English, Swedish / DI Digital paywall).
• Green-On (Gothenburg, maker of sustainable ingredients from CO2 for the food industry): undisclosed amount from AAK and Norrsken Impact Accelerator (English).

>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. Request access.

Swedish tech earnings reports

• Glue (Stockholm, smart lock maker) experienced a massive revenue drop in 2021 to SEK2.9M (€280K, $280K), down from SEK10.7M in 2020, while generating a loss of SEK40.8M, compared to SEK36M in 2020. To date, the company has raised SEK74M in funding (Swedish, machine translation).

Other interesting things from the startup/VC world & beyond

• SoftBank Group reported a quarterly loss of over $23B, and founder and CEO Masayoshi Son is worried that the funding winter for startups may continue for longer (English).
• UK-based, Europe-focused early-stage VC firm Mosaic analysed 197 founding CEOs of European unicorns, to uncover patterns in their backgrounds and previous experience (English).
• Fred Wilson's learnings about and advice on setting up bridge loans (English).

Other interesting things related to Sweden

• Swedish alcohol monopoly Systembolaget is adjusting its prices twice a year. In March, the average increase was 1.4%. And now in September, prices will be increase by on average 1.9% (Swedish, machine translation).

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That's it for today.