News June 20, 2024: Superagent, The Intelligence Company, Magnetic, Swedish Algae Factory, Capinwest, Tioex, Sparsit, FinetuneDB, Algoryx, RadCap, tendmill, Stravito, 15 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.

🚨 Tomorrow Sweden kicks off Midsummer celebrations, which means, no newsletter. The next issue of Swedish Tech News PRO will reach you on Monday. Have a good time.

Mergers & acquisitions

• The Sweden-headquartered global professional services firm BTS is acquiring the five year old Germany-based AI-powered sales performance platform Wonderway, for a "limited initial cash consideration", as well as an additional earn-out based on certain targets (English).

Funding news

⬜️ publicly traded

• Superagent (Gothenburg, AI-powered web research, founded 2023): $1.6M in a seed funding round from Rebel Fund, Y Combinator, and industry founders Dharmesh Shah (HubSpot), Frederic Kerrest (Okta), and Amjad Masad (Replit) (English). Superagent, founded by Alan Zabihi and Ismail Pelaseyed, had participated in Y Combinator's winter 2024 batch, as first reported by Breakit earlier this year. I covered the startup first in November last year on the early-stage startup tracker page. Back then Superagent pitched an "open framework for building AI-assistants", subsequently iterated to offering a "solution that helps developers deploy AI-agents to the cloud", and most recently moved to enable AI agent-based web research for businesses.
• The Intelligence Company (Hudiksvall, credit score provider focusing initially on businesses in Sweden and the Nordics, founded 2024): around SEK500K (€45K, $48K) in initial capital, from 24 angel and private investors, including Johannes Schildt, Sam Nurmi, Andreas Ehn, Bokelund Svensson, and Erik Wickman. The startup was founded and is led by Swedish serial entrepreneur Jens Nylander as a public limited company. Nylander says he aims to reach an ARR of SEK100M "rather quickly", while also staying lean and raising around SEK10M-SEK20M to get to this first financial milestone (Swedish / Breakit paywall).

Unannounced funding