News October 21, 2024: Simumatik, Royal Streaming, C-Green, Neurawave, UpManure, Meadow, Edavia, Staccs, Tevefy, MimerAI, PackBud, AMKVO, Resourced, Juridium, LecToGo, 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
- Simumatik (Skövde, digital twin emulation for industrial applications, founded 2018) is being acquired by Spanish listed company Virtualware, a provider of extended reality (XR) technologies and real-time 3D enterprise solutions, for €1.37M (SEK15.6M, $1.5M) in a mix of cash and shares (English). Simumatik has registered close to SEK10M in total equity funding with Bolagsverket (sourced via Eivora), from Skaraborg Invest, Almi Invest, and angel investors. 📊 For 2023, Simumatik reported net revenue of SEK2.6M, up 44% YoY, and a loss of -SEK2M.
- Royal Streaming (Uppsala, digital music solutions for brands, founded 2006) acquired the two profitable Swedish companies Music in Brands and FitnessPlayer, which have the same founder in Anders Ekström. Financial details were not disclosed (Swedish, machine translation). Royal Streaming is since last year majority owned by the PE firm Pamir Partners. 📊 For the financial year 2023/2024, Royal Streaming reported net revenue of SEK49.1M, up 7% YoY, and a pre-tax profit of SEK11.2M.
Funding news
