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1. TRACXN MONTHLY REPORT
FEBRUARY 2021
SWEDEN TECH

2. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Sweden Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 7
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
Acquisitions 11
Recent News 12

3. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech Snapshot – February 2021
Sweden Tech: Snapshot – February 2021
Note : "Investors" refers to "Institutional Investors" only
3
$154M
8
Overall Geo Stats
4
5
14
14
10
Funding Rounds $ Invested Analyst Picks
CorPower Ocean
Upgraded to
SOONICORN
New Investors
Hiro Capital
Left Lane Capital
Series A+ rounds Active Investors IPOs Acquisitions
Germ#@
Travelize#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Stockholm
(8 Rounds, $33.9M)
Bromma
(1 Rounds, $90M)
Kista
(1 Rounds, $30M)
$90M - Series B
Instabox (2015, Bromma, $105M)
$30M - Series B
Northmill (2006, Kista, $30M)
$10.9M - Series B
CorPower Ocean (2009, Stockholm,
$40.7M)
$10M - Series A
memmo (2019, Stockholm, $12.1M)
SEB
(1 Investments)
Midroc
(1 Investments)
Novax
(1 Investments)
Coeli
(1 Investments)
Logistics Tech
Instabox
Banking Tech
Northmill
Alternative Lending
Investment Tech
Market Size
Companies Covered 5,453
Funded Companies 2,370
Total Funding $15.0B
Funding in last 12 months $2.8B
Top Exits
IPOs 209
Acquisitions 505
Company Stage
Unicorns 2
Soonicorns 32
Minicorns 152
Editor Picks 676
Series A+ 522
Series C+ 111
Acqui-Hires 1
Deadpooled 379
Top Cities
Stockholm (1,106 Rounds, $11.7B)
Gothenburg (171 Rounds, $517M)
Top Investors
Almi Invest (265 Investments)
Sting (86 Investments)

4. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Sweden Tech as of February 2021
Sweden Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2021)*
Instabox
(2015, Bromma, $105M)
$90.0M - Series B EQT Ventures
Northmill
(2006, Kista, $30.0M)
$30.0M - Series B 2 Asset Management
CorPower Ocean
(2009, Stockholm, $40.7M)
$10.9M - Series B Midroc
memmo
(2019, Stockholm, $12.1M)
$10.0M - Series A Left Lane Capital
Billhop
(2011, Stockholm, $8.8M)
$4.9M - Series A Element Ventures
OneLab
(2014, Stockholm, $4.8M)
$4.8M - Seed Novax
Insurely
(2017, Stockholm, $3.6M)
$3.0M - Series A Luminar Ventures
imagiLabs
(2017, Stockholm, $304K)
$304K - Seed Eros Resmini
*Shows only the lead Investors

5. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Sweden Tech in February 2021
Sweden Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$3.0M - Series A
Insurely (2017, Stockholm, $3.6M)
App-based insurance management platform for
individuals and enterprises
Luminar Ventures
EARLY STAGE
$4.9M - Series A
Billhop (2011, Stockholm, $8.8M)
Accounts payable automation and credit card-based
invoice payment solutions for businesses
Element Ventures
EARLY STAGE
$10.0M - Series A
memmo (2019, Stockholm, $12.1M)
Online platform to get personalised video messages
from celebrities
Left Lane Capital, FJ Labs, Lukasz Gadowski, Maria Raga
Frances, Spencer Rascoff, and 4 more
EARLY STAGE
$10.9M - Series B
CorPower Ocean (2009, Stockholm, $40.7M)
Wave energy converter solutions provider
Midroc, SEB Venture Capital
EARLY STAGE
$30.0M - Series B
Northmill (2006, Kista, $30.0M)
Wealth data aggregation and lending platform for
consumers
2 Asset Management, Coeli
EARLY STAGE
$90.0M - Series B
Instabox (2015, Bromma, $105.2M)
Provider of e-commerce delivery services to
proprietary smart lockers
EQT Ventures
EARLY STAGE
Series B
Snowprint Studios (2015, Stockholm, $6.4M)
Mobile game developer focusing on mid-core games
Hiro Capital
EARLY STAGE
Series A
EnginZyme (2014, Stockholm, $13.3M)
Developer of immobilized enzymes for large-scale
production
Industrifonden, SEB
SEED STAGE
$303.9K - Seed
imagiLabs (2017, Stockholm, $303.9K)
Internet first brand offering smart keychains
Propel, Eros Resmini, David Baszucki, Lisa Gradow,
Aurore Lanchart, and 4 more

6. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Sweden Tech in February 2021
Sweden Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
$4.8M - Seed
OneLab (2014, Stockholm, $4.8M)
Provider of mental health examination and screening
solutions for employees
Novax

7. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Sweden Tech in February 2021
Sweden Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Hiro Capital
9 portfolio companies | Venture capital firm investing in digital sports & games
sectors
Snowprint Studios
Mobile game developer focusing on mid-core games
Undisclosed Series B
Left Lane Capital
11 portfolio companies | Venture capital firm investing in internet & consumer
tech sectors
memmo
Online platform to get personalised video messages from celebrities
$10.00M Series A
2 Asset Management
1 portfolio companies | M2 Asset Management AB
Northmill
Wealth data aggregation and lending platform for consumers
$30.00M Series B
Coeli
1 portfolio companies | Coeli - en svensk kapitalförvaltare | För dig som har
ambition med ditt sparande
Northmill
Wealth data aggregation and lending platform for consumers
$30.00M Series B

8. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲1 Internet First Direct Lender Purchase Financing $650M 3 Klarna | $650M | Series G
2 ▼-1 Lithium Ion Batteries $600M 1 Northvolt | $600M | Series C
3 ▲52
Food Tech > Novel Foods > Food Products > Dairy
Substitute > Plant Based
$200M 1 Oatly | $200M | Series C
4 ▼-1 Free Float Electric Kick Scooter Rentals $136M 2 Voi | $107M | Series C
5 --
Alternative Lending > Online Lenders > Consumer Loans >
Personal Loans > Marketplace > P2P
$115M 1 Lendify Sweden | $115M | Series D
6 ▼-2 Open Banking Aggregation APIs $107M 2 Tink | $103M | Series E
7 -- Smart Lockers for E-Commerce $105M 2 Instabox | $90.0M | Series B
8 ▲34 Ecommerce Last Mile Delivery Services $74.3M 2 Budbee | $63.3M | Series C
9 ▲9 Home Energy Management System $65.0M 1 Tibber | $65.0M | Series B
10 -- Real Money eSports Gaming Platforms $56.1M 1 G-Loot | $56.1M | Series C

9. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Sweden Tech in February 2021
Sweden Tech: Analyst Picks
9
Upgraded to SOONICORN
CorPower Ocean (2009, Stockholm, $10.5M, Series
B)
Wave energy converter solutions provider
WES, Almi Invest, Midroc and 8 other Investors
Upgraded to SOONICORN
Instabox (2015, Bromma, $15.2M, Series A)
Provider of e-commerce delivery services to
proprietary smart lockers
CORDET, Creades, EQT Ventures and 1 other Investors
Upgraded to MINICORN
Northmill (2006, Kista, $30.0M, Series B)
Wealth data aggregation and lending platform for
consumers
Coeli,2 Asset Managementand
Upgraded to MINICORN
memmo (2019, Stockholm, $2.1M, Seed)
Online platform to get personalised video messages
from celebrities
Erik Engellau Nilsson, Joel Borg, FJ Labs and 19 other
Investors
Added to Editor's Pick
Safello (2013, Stockholm, $284K, Series A)
Exchange platform for cryptocurrencies
Techstars, Northzone, Nicolas Cary and 5 other
Investors
Added to Editor's Pick
EnginZyme (2014, Stockholm, $6.9M, Series A)
Developer of immobilized enzymes for large-scale
production
Industrifonden,Sofinnova Partners,SEBand
Added to Editor's Pick
Collective Minds Radiology (2017, Taby, $3.0M,
Series A)
Provider of cloud-based decision support software for
radiologists
Brightly Ventures, Crista Galli Ventures, Mikael
Kjellman and 1 other Investors
Added to Editor's Pick
Skriware (2015, Stockholm, $1.6M, Seed)
Provider of 3D printing solutions
Montis Capital,Infiniand

10. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Sweden Tech in February 2021
Sweden Tech: Analyst Picks
10
Added to Editor's Pick
OneLab (2014, Stockholm, $4.8M, Seed)
Provider of mental health examination and screening
solutions for employees
Uppsala Innovation Centre,Novaxand
Added to Editor's Pick
IntuiCell (2020, Lund, Undisclosed, Seed)
Provider of an AI-based computation technology that
imitates brain intelligence
Added to Editor's Pick
Personalkollen (2008, Umea, Undisclosed, Seed)
Cloud-based staff and payroll management software
for businesses
Novaxand
Added to Editor's Pick
Photon Sports (2015, Skelleftea, Unfunded)
Offers cloud-driven sensor-based performance tracking
& analytic tool for soccer
Partnerinvest Norrand
Added to Editor's Pick
Dcipher Analytics (2018, Stockholm, Unfunded)
Provider of cloud and AI-based visual and text analytics
X-Europeand
Added to Editor's Pick
Manylogs (2020, Stockholm, Unfunded)
API mocking solutions for mobile developers

11. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Sweden Tech in February 2021
Sweden Tech: Acquisitions
11
Acq. Date Company Acquirer Deal Size
01 Feb 2021
Germ(1990, Vannasby)
Online B2B wholesale distributor of industrial supplies
Bergman & Beving
03 Feb 2021
Travelize(1999, Gothenburg)
Web-based travel solution for booking, content & sales
management
Vitec
18 Feb 2021
GetCompliant(2006, Stockholm)
Mobile operational compliance solution for retail & restaurant
chains
MAPAL Software
24 Feb 2021
Net Insight(1997, Stockholm)
Media transportation service provider
Xytech Systems
24 Feb 2021
Design Rubens Sweden AB Shaping a Kinder Future(2004)
Internet first brand offering handmade plush toys for kids
Micki Leksaker

12. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Sweden Tech in February 2021
Sweden Tech:News
12
Exit News
.
● Sweden's Embracer expands reach with $2.5 billion game buying spree Reuters
.
● SoftBank-backed serial acquirer Sinch eyes further M&A Reuters
.
● Sinch’s $1,140 Million Acquisition of Inteliquent Global Legal Chronicle
.
● Accedo announces acquisition of Hibox Telecompaper
.
● Embracer Group’s Acquisition of Easybrain Limited Global Legal Chronicle
.
● Sweden’s Stillfront to mark India entry with purchase of Teen Patti developer
VCCircle
.
● Vegan milk maker Oatly pursues potential IPO Food Ingredients First
.
● Oprah Winfrey-backed Oatly oat milk’s parent Havre plans IPO at reported
$10B valuation Seeking Alpha
.
People News
.
● Spotify announces the addition of directors Business Wire
.
● Spotify announces board expansion Business Wire
.
● New Chief Commercial Officer appointed at Macrobond Private Equity Wire
.
● New person on the Spotify board Business Wire
.
● Puzzel Appoints Frederic Laziou as New CEO to Drive Ambitious Expansion
Plans AiThority
.
● Macrobond appoints Howard Rees as chief commercial officer Finextra
.
Company News
.
● Spotify launches service in South Korea Business Wire
.
● Spotify expands into 85 new markets Engadget
.
● Ikea's Gaming Furniture Launches Globally in October PCMag
.
● Sellpy Launches In The Netherlands And Austria Ecommerce News

13. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (2/2)
Recent News in Sweden Tech in February 2021
Sweden Tech:News
13
Regulatory News
.
● ITC to probe Ericsson, Samsung patent row MobileWorldLive

14. Sweden Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Sweden Tech on Tracxn Platform
Sweden Tech: Explore more on Tracxn Platform
14
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Sweden
AI Companies in Sweden
Fintech Companies Sweden
Consumer Digital in Sweden
Company Due Diligence
Detailed profile of Northvolt
Competitors of Oatly
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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