News November 12, 2024: Vinter, Mindler, Nordic Air Defence, Indivd, Bammies, Homejunkys, HiloProbe, Zipadoo, IVA 100, Sesamy, 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

• Vinter (Stockholm, index provider for crypto assets, founded 2019) has been acquired by French startup Kaiko, a cryptocurrency market data provider for institutional investors and enterprises. The acquisition price was not disclosed. The deal was paid in a mix of cash and equity, and values Kaiko at $200M post-acquisition (English). Vinter was founded by Marco Antonio, Håkan Holmberg, and Jacob Lindberg, and has raised around €4M in total funding from Gorilla Capital, Octopus Ventures (which led the company's seed round), family offices, angel investors, and others. 📊 For 2023, Vinter reported net revenue of SEK8.6M, up 87% YoY, and a loss of -SEK9.9M.

Funding news

⬜️ publicly traded

• Mindler (Stockholm, digital service for talking with psychologists, founded 2018): SEK38M (€3.3M, $3.5M) mostly from existing investors such as Schibsted, Philian, Ventech, Back in Black Capital, and Luminar Ventures. Some new investors participated as well, including Hélène Barnekow. The pre-money valuation was SEK660M, which represents a stabilization, though it's only one fourth of the peak valuation from 2021 (Swedish / Di Digital paywall). 📊 For 2023, Mindler reported net revenue of SEK241M, up 29% YoY, and a loss of -SEK102M, vs -SEK196M in 2022.
• Nordic Air Defence (Stockholm, high tech defensive solutions for both civilian and military use, founded 2022): €1.2M ($1.3M) in a first larger funding round led by SNÖ Ventures. Angel investors including Jörgen Bladh, Jan Gurander, Noam Perski, and Johan Ahlberg, as well as Nordic Air Defence co-founder Gustav Wiberg also participated. The startup plans a full seed round in the future (English). This funding follows a SEK5.5M friends and family round raised previously.
• Indivd (Sundsvall; AI-powe2red technology for retailers to monitor foot traffic patterns, dwell times in specific areas, and points of interest, while maintaining complete anonymity, founded 2017): SEK14M (€1.2M, $1.3M) from new and existing investors, including Carl Setterberg and Per Setterberg (English, Swedish / Breakit paywall). A year ago, Indivd raised its previous round, SEK10M at a pre-money valuation of SEK64.5M. 📊 For 2023, Indivd reported net revenue of SEK0.4M – the first year with some revenue – and a loss of -SEK2.7M.
• Update on the reported but unconfirmed investment by Norrsken VC in UK-based startup Quadrivia: The funding has now been confirmed, and Quadrivia emerged from stealth. The company is developing an AI assistant for clinicians (English).
• In a follow-on investment, Backing Minds led a €3.5M seed round raised by Denmark-based startup NitroVolt, developer of technology to produce green ammonia. EQT Foundation also participated (English). UPDATE: This news initially cited €2.75M as the amount raised, which was incorrect.

Unannounced funding