News May 21, 2024: Stratsys, Evaluate, Pepins, Enigma, Defentry, Junipeer, Cascade Drives, Hemp Innovations, Vaja, Floada, Vimotek, Phonewise, Lassie, Starbright Invest, CodeScene, and more

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Mergers & acquisitions

• Stratsys (Gothenburg, SaaS compliance platform for mid- to large organizations in the Nordics, founded 2000) acquires the Stockholm-based startup Evaluate, which was founded in 2019 and offers digital tools to empower businesses' sustainability work. The price was not disclosed (Swedish, machine translation). Evaluate was founded by Anna Lindstedt and Daniel Ernerot, and has not registered any funding with Bolagsverket. 📊 For 2023, Evaluate reported net revenue of SEK3.5M, up 30% YoY. Stratsys, which counts Verdane as a major investor, reported revenue of SEK209M for 2023, and a loss of -SEK24.2M.
• Pepins, the Swedish crowdfunding and investments platform which in March announced that it will have to shut down following two failed attempts of being acquired, says it has found a buyer, again. The company will wait though with communicating who it is, until the deal receives the approval of Sweden's Financial Supervisory Authority (Swedish, machine translation).

Funding news

⬜️ publicly traded

• Enigma (Stockholm, developing advanced quantitative trading strategies for digital assets by leveraging state-of-the-art technology and data-driven insights, founded 2022): SEK20M (€1.7M, $1.9M) from undisclosed angel investors and entrepreneurs. This is the first funding for the startup, which was founded by the former Speqta founders Andereas Friis and Jonas Söderqvist, and has been in stealth mode until today. The pre-money valuation of this round was SEK126.6M. According to the press release, Enigma reached a trading volume of almost $1B in March 2024 (English, Swedish / Di Digital paywall). 🆕 Company information added to the early-stage startup tracker page, and to the "new startups" Google Sheet.
• Defentry (Stockholm; white-label cyber safety SaaS platform designed to monitor, alert, and support customers' users in the event of identity fraud, founded 2015): SEK7M (€650K, $660K) from existing investors and some undisclosed new investors. Defentry now aims for "rapidly achieving profitability". In 2023, revenue grew by 33% to around SEK16M, according to the press release (English). In early 2023, Defentry raised its previous round of SEK22M. In total, the company has raised raised more than SEK80M, based on data registered with Bolagsverket (sourced via Eivora) and including the two last announced rounds. Among external shareholders are Spintop Ventures and a number of angel investors.
• Junipeer (Stockholm, iPaaS platform made for e-commerce, founded 2020): SEK2.1M (€180K, $200K) from existing angel investor Anders Lundström, for the continued European expansion (Swedish, machine translation). 📊 Recent financial figures

Unannounced funding