News July 8, 2022: Recorded Future, ArK Kapital, rek.ai, Renewcell, Fishbrain, Homer, Einride, Vässla & more
Here is today's curation of news from Sweden's startup and tech sector.
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Subscribe to Swedish Tech News to get access to a daily newsletter that brings you a brief overview of news from the Swedish startup & tech sector, curated by Martin Weigert.
Or, if you prefer a free weekly newsletter, subscribe to Swedish Tech Weekly!
Mergers & acquisitions
- Recorded Future (Gothenburg-founded, cloud-based threat intelligence platform) acquires Dutch malware analysis company Hatching. Financials were not disclosed (English, Swedish).
Funding news
- ArK Kapital (Stockholm, alternative lending provider for startups): SEK1.6B (€150M, $151M) loan facility from an undisclosed Swedish bank (English, Swedish).
- rek.ai (Stockholm, SaaS solution for websites to create personalized surfaces using AI): SEK7M (€650K, $660K) from Icebreaker.vc, for the European expansion (Swedish, machine translation).
- In a follow-on investment, EQT Ventures participated in a $15.5M funding round raised by UK-based Banking-as-a-Service provider Griffin (English).
>> Daily updated, subscriber-exclusive Google sheet with all funding rounds raised by private Swedish startups and scaleups. Request access.
News from Swedish startups, the tech sector and VCs
- Renewcell, Stockholm-based alternative materials scaleup founded in 2012, is zeroing in on getting its Sundsvall production facility up and running, to get one step closer to bringing Circulose to mainstream fashion (English).
- Stockholm-based Fishbrain, "the world's most popular fishing app", is currently running an equity crowdfunding campaign. In 2021, sales grew only 11% to SEK94M (€8.8M, $9M), while losses increased by 31% to SEK78M (Swedish, machine translation).
- Homer, bootstrapped Stockholm-based proptech founded in 2017 which aims to help homeowners digitally save and manage the documentation of their homes, plans to raises its first funding in the €2M range (English).
- Intrepid, a Singapore-based ecommerce & digital solutions provider for brands founded by the Swede Christopher Beselin, was sold to the UK-based data analytics company Ascential for up to $250M (English, Swedish).
Swedish tech earnings reports
- Einride (Gothenburg, intelligent trucking startup): Swedish, machine translation.
- Vässla (Stockholm, e-bike subscription service): Swedish, machine translation.
Other interesting things from the startup/VC world
- Seed-stage funding in Europe went up in June, according to Dealroom data (English).
Other interesting things related to Sweden
- 6% of Swedes hold cryptocurrencies (Swedish, no machine translation available).
- Scania delievered "the world’s first electric timber truck" to SCA in Sweden – Europe’s largest private forest owner. It can haul 80 tons (English).
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That's it for today.
