News February 29, 2024: CAKE, Irisity, Ultinous, Gedea Biotech, Pharmista Technologies, BONI, TrackPaw Scientific, Sleip, AI Producer, Imogo, Fanzeal, Mindler, Betalkontroll, 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

• The bankruptcy estate of Stockholm-based electric motorcycle maker CAKE was acquired by the Norwegian businessman Espen Digernes, who runs a car dealership in Norway. No financial details are known at this point (English, Swedish / Di Digital paywall).
• Irisity (Gothenburg, provider of AI- powered video analytics software, founded 2006, publicly traded) is acquiring the Hungarian-Swedish provider of AI-based modular video analysis technology Ultinous, founded 2014, for SEK45M (€4M, $4.4M). The transaction will be financed through an upcoming directed share issue by Irisity to Stockhorn Capital, amounting to SEK45M (English).

Funding news

⬜️ publicly traded

• Gedea Biotech (Lund, developer of antibiotic free treatment for vaginal infections, founded 2015): €2.5M ($2.7M) grant from EIC Accelerator (English). In November 2023, the company announced its most recent equity funding, amounting to SEK16.5M.
• Pharmista Technologies (Lund, developing a reusable pregnancy test being hygienic to use and easy to interpret, founded 2020): €500K ($540K) convertible note from the BioInnovation Institute's Venture Lab acceleration program (English). The startup does not appear to have raised any larger outside funding previously.
• BONI (Stockholm, moodboard platform and SaaS solution for interior designers, founded 2021): SEK4M (€360K, $390K) in an oversubscribed first funding round from angel investors including Mikael Sjögren, Marie-Louise Sjögren, Daniel Mauno Pettersson, and Erik Segerborg (Swedish / Breakit paywall). BONI joined the SSE Business Lab Incubate program in fall 2023.
• TrackPaw Scientific (Lund, technology to digitalise preclinical studies, founded 2022): SEK1.6M (€140K, $160K) in an extension of the SEK5M pre-seed funding round announced in October. The new investor joining is Norway-based ERM Invest (English).
• The SEK43M seed funding round raised by Sleip, which I covered on January 12 in the "unannounced funding" section, has now been announced. Back then I didn't have information on the investors. According to Di Digital, the round was led by the German healthcare company group Boehringer Ingelheim (Swedish / Di Digital paywall).
• Swedish-Danish early-stage VC Unconventional Ventures led a $1.4M funding round raised by UK-based virtual reality training platform MOONHUB (English).

Unannounced funding