News May 10, 2024: Volta Greentech, Hardskills.io, Indivd, MoveByBike, Engrate, Hopen, Sanitation360, hummy, Kavall, Skippo, Brizo, Encore, Flowtropolis, 16 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.
Mergers & acquisitions
- VNV Global, publicly traded Stockholm-based investment company, is selling its stake in the Israel-based ride-hailing app Gett, alongside all others investors, to Israeli parking payments app Pango. VNV says the transaction is netting $83M for its 43.4% stake – less than the $113M that the Swedish firm has invested in Gett since 2014 (English, Swedish).
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
- Volta Greentech (Stockholm, developer of feed supplement for cows, founded 2019): SEK32M (€2.7M, $3M) in a funding round led by existing investor Novax. This brings total funding to nearly SEK100M. The startup also announces its second generation feed additive, which it claims will cut the costs for green house gases by 10x. Unlike the first generation, this new feed additive will not be based on alge (though the company offers no details). Volta Greentech aims to deliver the new product at scale to customers by 2026, pending EU regulatory approval (English). This funding and announcement comes six weeks after that the Swedish sector newcomer Agteria Biotech raised pre-seed funding for its own patent-pending feed additive, which it touts as "almost 100 times more affordable than red seaweed".
- Hardskills.io (Gothenburg, platform for finding and recruiting R&D professionals, founded 2018): undisclosed amount (according to data registered with Bolagsverket sourced via Eivora, SEK1.5M at a pre-money valuation of SEK12M) led by Jovitech Invest, with participation from angel investors Sven-Gunnar Bodell, Henrik Palsson, and Stefan Mahlstein (English). This appears to be the first equity funding for the company, which has six founders. According to the annual reports, Hardskills.io generated its first (small amount) of revenue in 2023, though it also reported extremely low costs. 💭 Through its website and marketing messages, the company gives a much more mature impression, than what the financial numbers suggest.
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