News December 5, 2024: DBT Capital, Cerve, Magma, Medoma, Nenda, Uniplay, Moondrop AI, Local taste, Bimify, and more
Here are today's news from Sweden's startup and tech sector, exclusively for you as subscriber of Swedish Tech News PRO.
Funding news
⬜️ = publicly traded
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・All funding rounds
・New Swedish tech startups
・Bankruptcies and shutdowns
・All funding rounds
・New Swedish tech startups
・Bankruptcies and shutdowns
- DBT Capital (Stockholm, financing provider for SMEs, founded 2017): SEK3.1B (€270M, $290M) in debt funding from NatWest and Värde Partners, earmarked for Swedish SMEs (Swedish, machine translation). In late 2023, I covered an unannounced SEK62.5M funding round led by Knoxville. 📊 On September 19, I covered DBT Capital's 2023 numbers.
- Cerve (Gothenburg & London, platform helping organisations build innovative and custom applications for the food industry, founded 2019): £3.5M (€4.2M, $4.5M) seed round led by SuperSeed, with participation from Zenith VC, Ponderosa Ventures, The First Thirty, and angel investors including Elsa Hyland (formerly at Backing Minds) (English). In April 2022, the Sweden-founded startup raised its previous round of $2M (also labeled as "seed") led by Orkla Ventures. 📊 For 2023, Cerve's Swedish entity reported net revenue of SEK1.6M, up 87% YoY, and a loss of -SEK8.4M. Cerve is also incorporated in the UK, so the Swedish numbers may or may not show the complete picture.
- Magma, formerly Matteappen (Stockholm, math learning app for schools, founded 2015): SEK7.7M (€670K, $700K) grant from Bill & Melinda Gates Foundation, for a project to develop and implement the company's technology in disadvantaged areas in the US (Swedish, machine translation). In mid November, Magma announced a $20M Series A funding round.
- Medoma (Stockholm, provider of tech-enabled hospital level in-home acute care, founded 2021): SEK600K (€52K, $55K) grant from MSB (Swedish Civil Contingencies Agency) and Sweden's National Coordination Center for Research and Innovation in Cybersecurity (NCC-SE), to strengthen cybersecurity capabilities and implement EU legislation (English). In September 2022, Medoma raised a €6M seed round led by Inventure and Bonnier Ventures (now Bonnier Capital). 📊 On July 30, I covered Medoma's 2023 numbers.
Unannounced funding
