News June 5, 2024: Fenix Solar, Spiideo, Modvion, idele, MedVasc, Samtal, Anferra, Accumeo, Aetha Motors, Flowocean, Centiglobe, Trine, 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 (Thursday) is public holiday in Sweden – Sweden's National Day. The next newsletter will reach you on Friday, June 7.

Mergers & acquisitions

• Fenix Solar (Helsingborg, digital twin-based monitoring solution for solar farms, founded 2020) is being acquired by Eskilstuna-based solar company ECOKRAFT, which was founded in 2008. The price was not disclosed (Swedish, machine translation). Fenix Solar was founded by Eric Witt, Johan Åkesson, and Erik Mårtensson, and had raised around SEK2.4M from SF Ventures, LoopCapital, and angel investors. I covered the startup's 2023 numbers on April 30.

Funding news

⬜️ publicly traded

• Spiideo (Malmö; AI-powered solution for sports video recording, analysis, and broadcasting, founded 2012): $20M in a growth round led by Germany’s Cipio Partners, with participation from existing investors including Mathias Kamprad, Måns Hultman, and Håkan Roos. Spiideo’s products are installed in over 6,000 venues in 60 countries, and used by more than 4000 teams, according to the press release. The pre-money valuation was around SEK500M, according to Di Digital. Previously Spiideo had raised around SEK229M in equity funding (English, Swedish / Di Digital paywall). 📊 For 2023, Spiideo reports net revenue of SEK118M (up 37% YoY), total revenue of SEK142.7M, and a loss of -SEK72.2M (vs -SEK65M).
• Modvion (Gothenburg, developer of modular wind turbine towers in laminated wood, founded 2015): SEK67M (€6M, $6.4M) in a funding round from new investor CMPC Ventures – the venture arm of one of the worlds largest forestry companies based in Chile – and existing investors including Vestas Ventures, Almi Invest GreenTech, Course Corrected, and Symbia VC (English). The pre-money valuation was SEK650M, the highest so far, according to data registered with Bolagsverket (sourced via Eivora). In early 2023, Modvion raised a SEK125M convertible note involving the same existing investors, which appears to not have been converted into equity yet.
• idele (greater Stockholm area, upcoming AI-powered content marketing platform, founded 2024): SEK5M (€440K, $480K) in pre-seed funding from two angel investors, founder and CEO Jacob Arwick tells me. 🆕 Company information added to the early-stage startup tracker page, and to the "new startups" Google Sheet.
• MedVasc (Lund, developer of a medical device designed to improve the anesthetic procedure when treating varicose veins, founded 2013): SEK5M (€440K, $480K) in a bridge round from existing investors (English). The pre-money valuation was SEK23.1M, according to data registered with Bolagsverket – the same as around a year ago, after the company raised SEK3M. Among outside shareholders are LU Holding and Life Science Invest Gamma (LSI Gamma).

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