Top 40 Startups In Sweden You Should Know!

These Are The 40 Swedish Startups You Should Know About!

  

Swedish startup ecosystem has been evolving since early 2000. The country has incubated some of the best startups that are widely popular and has made a huge mark in the world stage. Sweden’s startup scene is going strong with new businesses being introduced in the Fintech, Healthtech, AI, Cybersecurity, Internet, Software & media industries.

 


 

According to a Business Insider article “The Swedish tech scene had a golden year in 2017” with more than S1,2 billion invested into 442 companies, which was nearly twice compared to 2016. And in 2018 nearly 100 startups from Sweden already secured a funding. Another Business Insider article depicts that even Swedish Churches are investing in startups.

  

Here Is The List Of The Top 40 Startups In Sweden:

  

1. Klarna:

 

 

A global tech bank that provides online financial services such as payment solutions for online storefronts, debt collection, credit payments and more. Klarna separates buying from paying by allowing buyers to pay for ordered goods after receiving them, providing them with a safe after delivery payment solution.

Year Founded: 2005

Total Funding: $636.72M in 13 funding rounds
Last Funding Type: Private Equity Round, on Jul 21, 201
Lead Investors: Sequoia Capital, General Atlantic, Creandum, Visa, Anders Holch Povlsen, Permira & Investment AB Öresund


Total Valuation: $2.3B as of Jul 21, 2017
Acquisitions & Investments: Acquired Sofort AG, BillPay & Cookies App to date and also made investment in Wrapp.

  

2. iZettle:

 

 

A financial technology company for small businesses. The company is reinventing technologies and banking services that help small-business owners live better, work less and earn more. iZettle is reinventing technologies and banking services that help small-business owners live better, work less and earn more.

Year Founded: 2010

Total Funding: €268.2M in 11 Funding Rounds
Last Funding Type: Series E, on Dec 13, 2017
Lead Investors: Intel Capital, Index Ventures, 83North, Northzone, Fourth Swedish National Pension Fund, Dawn Capital, European Investment Bank (EIB) Etc.


Valuation: $770M as of Dec 13, 2017
Acquisition & Investment: Acquired Intelligent Point of Sale on Sep 6, 2016 & made £32M investment in Zopa on Jun 1, 2017.

  

3. Spotify:

 

 

A music, podcast, and video streaming service which is developed by startup Spotify AB in Stockholm, Sweden. It provides DRM–protected content from record labels and media companies. Spotify is a freemium service; basic features are free with advertisements or limitations, while additional features, such as improved streaming quality and music downloads, are offered via paid subscriptions.

Year Founded: 2006

Total Funding: $2.7B in 22 funding rounds, to date
Last Funding Type: Secondary Market, on Jun 30, 2017
Lead Investors: Accel Partners, Goldman Sachs, Founders Fund, TCV, Horizons Ventures & Northzone


Valuation: $23B, as of Feb 28, 2018
Acquisitions & Investments: Acquired 12 companies including Soundtrap AB, niland, Mediachain & MightyTV also made £32M & $10.9M in investments to Zopa & Soundtrack Your Brand respectively.

  

4. Lendify:

 

 

A leading peer-to-peer loan platform focused on prime borrowers in the unsecured consumer credit space in Sweden. Lendify operates a marketplace online credit platform that enables people to borrow money and lend money from each other – without the involvement of banks.

Year Founded: 2014

Total Funding: $87.6M in 5 funding rounds, to date
Last Funding Type: Venture Round, on Jan 24, 2018
Lead Investors: Inbox Capital & Back in Black


Valuation: Approx. $80M as of Jan 24, 2018
Acquisition & Investments: None

  

5. Northvolt:

 

 

A electrification and renewable energy company that plans to build a factory for the manufacture of lithium-ion batteries for electric cars and for energy storage. Northvolt accelerates this transition by building Europe’s largest battery factory.

Year Founded: 2016


Total Funding: €52.5M in 1 funding round
Funding Type: Debt Financing
Lead Investors: European Investment Bank (EIB)

  

6. NA-KD.com:

 

 

An online global marketplace that brings the best in fashion, accessories and beauty from around the world. NA-KD is dedicated to breaking the mold and showing our followers what it means to be unique and stand out from the crowd.

Year Founded: 2015


Total Funding: $66M in 4 funding rounds, to date
Last Funding Type: Series B, on Jan 15, 2018
Lead Investors: Partech & Northzone

  

7. KRY:

 

 

A digital health startup that connects patients with healthcare professionals for consultations via video is. KRY is the market leader and only CE-certified, app-based service for meeting doctors through video meetings in Sweden. It is transforming the world of healthcare by making care more accessible and convenient.

Year Founded: 2014


Total Funding: €26.1M in 2 funding rounds, to date
Last Funding Type: Series A, on Jun 28, 2017
Lead Investors: Accel Partners, Index Ventures & Creandum

  

8. Natural Cycles:

 

 

A contraceptive app that spearheads the development of digital contraception. Natural Cycles’ subscription product relies on an algorithmic method to predict which days women are fertile during their monthly cycle — with an in-app color-coded calendar informing users if they could have unprotected sex on a given day or not.

Year Founded: 2013


Total Funding: $37.5M in 3 funding rounds, to date
Last Funding Type: Series B, on Nov 9, 2017
Lead Investors: EQT Ventures & Bonnier Ventures

  

9. Min Doktor:

 

 

A digital healthcare provider offers medical consultations online, direct to individuals and also in partnership with private medical centres and insurance companies. Min Doktor wants to make health care available by allowing users to meet experienced doctors on their terms.

Year Founded: 2013


Total Funding: $39M in 4 funding rounds, to date
Last Funding Type: Series B, on May 17, 2017
Lead Investors: EQT Ventures

  

10. Truecaller:

 

 

A caller ID and call-blocking app that makes your mobile environment smarter by allowing you to connect with who you want, when you want. Truecaller enables you to expand your contact list and reach people you want to find; helps you more easily identify who is calling your cell phone; and protects your mobile identity from unwanted spammers.

Year Founded: 2009


Total Funding: $93M in 6 funding rounds, to date
Last Funding Type: Venture- Series Unknown, on Mar 28, 2017
Lead Investors: Sequoia Capital, Kleiner Perkins Caufield & Byers, Atomico, OpenOcean & Zenith Venture Capital

  

11. Tink:

 

 

A Fintech company that enables banks to create next-generation banking services, including account aggregation, payment initiation and PFM. Tink app allows users to connect all their cards and bank accounts, pay bills, transfer money, open savings accounts and gain personalised insights. It’s B2B offering, Tink Technology, provides easy-to-use APIs as building-blocks to create next-generation banking services.

Year Founded: 2012


Total Funding: $30.7M in 3 funding rounds, to date
Last Funding Type: Venture- Series Unknown, on Oct 25, 2017
Lead Investors: Creades AB & Sunstone Capital

  

12. BehavioSec:

 

 

A provider of layer of security that lets customers authenticate themselves through the unique ways they type, swipe and hold their devices. Behavioral biometrics uses continuous machine learning and realtime feedback to create a risk score, allowing you to separate good users from bad actors by detecting anomalies in behavior.

Year Founded: 2008


Total Funding: $25.7M in 4 funding rounds, to date
Last Funding Type: Series B, on Jan 29, 2018
Lead Investors: Northzone, Trident Capital Cybersecurity & Octopus Ventures

  

13. Werlabs:

 

 

A medical technology company that provides customers with health analysis via blood testing. It aims to give users the tools and information to take control of their health. Werlabs specializes in analyzing your blood and compiles all the metrics and data ​​in a digital journal.

Year Founded: 2013


Total Funding: $11.1M in 2 funding rounds, to date
Last Funding Type: Venture- Series Unknown, on Aug 29, 2017
Lead Investor: Sunstone Capital

  

14. Aifloo:

 

 

A developer of nonintrusive e-health system that is based on Medical Artificial Intelligence, which enables a longer independent life and peace of mind. Aifloo AB manufactures motion sensitive wristband based on artificial intelligence to detect accidents. It connects the band with cloud server to show information on a mobile phone, tablet, and computer.

Year Founded: 2015


Total Funding: $7.5M in 3 funding rounds, to date
Last Funding Type: Series A, on Sep 5, 2017
Lead Investor: EQT Ventures

  

15. Detectify:

 

 

A website vulnerability scanner that performs tests to identify security issues on a website. Detectify analyzes and monitors the security level of your website by applying a broad range of emulated hacker attacks. The company then provides the owner with an easy to understand report that describes the identified vulnerabilities and their potential risk in the hands of malicious hackers.

Year Founded: 2012


Total Funding: $8.9M in 3 funding rounds, to date
Last Funding Type: Venture- Series Unknown, on Mar 16, 2018
Lead Investors: Insight Venture Partners, Inventure Oy & Paua Ventures

  

16. ORBITAL SYSTEMS:

 

 

A clean-tech company that develops a water recycling technology to be used in domestic appliances. ORBITAL SYSTEMS is an award-winning clean-tech startup in Malmö, Founder and CEO, Mehrdad Mahdjoubi, developed the world’s most advanced shower system allowing up to 90% water savings and 80% energy savings while increasing comfort and hygiene.

Year Founded: 2012


Total Funding: $29.9M in 4 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Jan 30, 2018
Lead Investors: Sandberg Development & Swedish Energy Agency

  

17. Readly:

 

 

A magazine subscription service, which is the new way of reading magazines on tablets and smartphones. Readly’s mission is to be on the cutting edge of the digital magazine revolution. Their expert management team has more than 25 years of experience in the publishing, digital gaming, and broadcasting industries.

Year Founded: 2013


Total Funding: $19.3M in 3 funding rounds, to date
Last Funding Type: Series B, as of May 17, 2017
Investors: Hermes GPE Environmental Innovation Fund, Zouk Capital LLP, Commercial Growth Fund & Aggregate Media

  

18. Lifesum:

 

 

A digital health startup that helps clients become healthier by using applied psychology and technology. Lifesum uses the latest machine learning technology to recognize the food and its ingredients. Once a user takes a picture of their meal, Lifesum will present a full list of ingredients, nutritional information, and a food rating based on the nutritional value.

Year Founded: 2013


Total Funding: $16.7M in 2 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Feb 19, 2018
Lead Investors: NGP Capital, Bauer Media & SparkLabs Global Ventures

  

19. Doctrin:

 

 

A cloud based B2B system for healthcare providers, helping it’s customers digitalise their patient visits. Doctrin has a technology that replicates how doctors interview their patients. This enables doctors to free up time and increases medical quality.

Year Founded: 2016


Total Funding: $18.5M in 5 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Dec 11, 2017
Lead Investors: Capio & Add Health Media

  

20. Sana Labs:

 

 

An artificial intelligence company that applies recent breakthroughs in deep learning to personalize educational content to each student. Sana utilizes artificial intelligence to closely personalize content to the needs of each student. It handles millions of content recommendations daily for forward-thinking education companies around the world.

Year Founded: 2016


Total Funding: $1M in 1 funding round, to date
Last Funding Type: Seed- Series Unknown, as of Aug 28, 2017
Lead Investor: Katarina Martinson

  

21. Qapital:

 

 

A personal finance mobile application for the iOS and Android operating systems, developed by Qapital Inc. The app is designed to motivate users to save money through a gamification of their spending behavior. Qapital is an easy-to-use, daily money management application that allows its users to organize their finances in a single place by connecting with their online accounts.

Year Founded: 2012


Total Funding: $17.3M in 4 funding rounds, to date
Last Funding Type: Series A, as of Feb 1, 2017
Lead Investors: Northzone & Industrifonden

  

22. Soundtrack Your Brand:

 

 

A Spotify joint venture and the exclusive provider of Spotify Business and Spotify Enterprise. Soundtrack Your Brand connect brands and fans, and our vision is to grow the music market and thereby support artists, so that they can give the world more great music.

Year Founded: 2013


Total Funding: $32.9M in 4 rounds, to date
Last Funding Type: Series C, as of Feb 17, 2017
Lead Investors: Wellington Partners, Balderton Capital, Industrifonden & Telia Company AB

  

23. Mathem:

 

 

Mathem is Sweden’s largest online grocery store and delivers food to Swedish homes 7 days a week. Mathem has the largest online grocery assortment in Sweden including a broad range of organic products.

Year Founded: 2009

Total Funding: $71.8M in 4 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Dec 8, 2017
Lead Investor: Anders Holch Povlsen


Acquisitions: Acquired Fruktbudet & Matvaran to date

  

24. Acast:

 

 

An audio-on-demand and podcast platform that hosts, monetizes, and distributes audio content globally. Acast is the world’s leading end-to-end platform for publishing, monetizing, and distributing audio content on demand. Starting with podcasts, Acast is a free-to-use technology platform connecting listeners, podcast creators and advertisers in a fully integrated, one-stop shop.

Year Founded: 2013

Total Funding: $35.2M in 6 funding rounds, to date
Last Funding Type: Series B, on Sep 20, 2017


Lead Investors: MOOR & Bonnier Ventures

  

25. Anyfin:

 

 

Anyfin is a fintech startup that aims to build the financial services of tomorrow, putting a stop to shady business practices and capturing generations left cold by traditional banks.

Year Founded: 2017


Total Funding: €4.8M in 2 funding rounds, to date
Last Funding Type: Series A, as of Feb 21, 2018
Lead Investors: Northzone & Accel Partners

  

26. Tictail:

 

 

A social shopping website for shoppers to discover emerging designers around the world. For brands, the platform is a DIY e-commerce tool focused on strong community integration, simplicity of use, and attractive, customizable design. Tictail is a destination to discover and shop home decor and fashion finds from a global community of emerging designers.

Year Founded: 2012


Total Funding: $32.6M in 7 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Jan 22, 2016
Lead Investors: Balderton Capital, Thrive Capital, Project A & Klaus Hommels

  

27. Imagimob:

 

 

A leading provider of real time artificial intelligence (AI) technology on the edge. Imagimob has expert competence in sensor technology and artificial intelligence and has invented and developed SensorBeat. SensorBeat is patented technology and a registered trademark in the EU.

Year Founded: 2013


Total Funding: $1.6M in 4 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Feb 19, 2018
Lead Investors: Permak AB, Stockholm Business Angels, STOAF, ECSEL & Vinnova

  

28. Mapillary:

 

 

A street-level imagery platform powered by collaboration and computer vision. Mapillary is making images and map data available to develop smart cities, build the maps of the future, and pave the way for autonomous vehicles.

Year Founded: 2013


Total Funding: $9.5M in 2 funding rounds, to date
Last Funding Type: Series A, as of Mar 3, 2016
Lead Investors: Atomico & Sequoia Capital

  

29. Funnel:

 

 

A marketing and advetising platform that automates your marketing reporting by replacing your marketing spreadsheet with software. Funnel automatically collects data from all your advertising platforms and connects this data with conversion data from your Google Analytics account.

Year Founded: 2014


Total Funding: $13M in 2 funding rounds, to date
Last Funding Type: Series A, as of Sep 19, 2017
Lead Investors: Balderton Capital

  

30. Magine:

 

 

A cloud-based TV operator providing live, recorded and time shifted TV across all devices. Magine’s patent pending cloud based technology removes the consumer pain points of a complicated TV set up with boxes and cables, and a fragmented user experience across services and devices.

Year Founded: 2011

Total Funding: $58.3M in 3 funding rounds, to date
Last Funding Type: Venture- Series Unknown, Oct 28, 2015
Lead Investor: Global Investment House


Acquisition: Acquired Film2Home on Sep 14, 2015

  

31. Matsmart:

 

 

An e-commerce business selling food and other groceries that in many cases would otherwise have been thrown out. Matsmart os on a mission to reduce food waste. By providing an alternative route to market for surplus food, they aim to revolutionize and challenge the perception and consumption of food.

Year Founded: 2013


Total Funding: $28M in 6 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Jan 23, 2018
Lead Investors: Northzone, GP Bullhound, D-Ax Corporate Venture Capital, Norrsken Foundation & IKEA

  

32. Watty:

 

 

Watty is an energy management solution for businesses and private individuals in Sweden. It offers NILS, a solution that is installed by putting its ‘eye’ on the electricity meter. The company makes tools to help people keep track of what is happening in their home all the time, in real-time.

Year Founded: 2013


Total Funding: €4M in 2 funding rounds, to date
Last Funding Type: Seed- Series Unknown, as of Jul 12, 2016
Lead Investors: EQT Ventures & Loudspring

  

33. TransferGalaxy:

 

 

An instant and cash-free mobile money transfer service that enables customers to send money to their loved ones from a laptop, tablet or smartphone. TransferGalaxy partnered with world-leading payment providers, banks, telecom companies and compliance experts all over the globe to make sure your money is in safe hands.

Year Founded: 2014


Total Funding: $4.2M in 3 funding rounds, to date
Last Funding: Venture- Series Unknown, as of Feb 19, 2018
Lead Investors: Alfvén & Didrikson

  

34. Ivbar:

 

 

A healthtech company that provides technical solutions to support health care organisations sustainably improve outcomes and reduce cost. Ivbar’s mission is to revolutionise healthcare by giving medical professionals easy-to-use tools to analyse data, share insights and thereby understand and improve their performance.

Year Founded: 2012


Total Funding: $6M in 2 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Jan 26, 2018
Lead Investors: Nordic fund Total Equity

  

35. Dooer:

 

 

Dooer is a Fintech startup that was founded with the goal of accounting in the future. Using the groundbreaking AI-based products, Dooer makes life easier for all small business owners and their employees.

Year Founded: 2015


Total Funding: $4.6M in 1 funding round, to date
Last Funding Type: Venture- Series Unknown, as of Sep 28, 2016
Lead Investors: N/A

  

36. Epidemic Sound:

 

 

Epidemic Sound is a music company producing music for online creators. Their library includes over 30 000 royalty free tracks.

Year Founded: 2009


Total Funding: $38.9M in 3 funding rounds, to date
Last Funding Type: Private Equity Funding, as of Nov 21, 2017
Lead Investors: EQT, Kichi Invest & Creandum

  

37. Tiptapp:

 

 

A mobile app platform where you can post an ad to remove things from your home along with the price you’re willing to pay and BOOM you’ve got rid of it. Tiptapp is building a user-driven marketplace for instantly resolving a household’s challenges with everyday logistics. It is essentially an app where you hook up with other users who might be passing by and can give your things a ride somewhere or keep or recycle them, whatever you need.

Year Founded: 2015


Total Funding: $3.4M in 2 funding rounds, to date
Last Funding Type: Venture-Series Unknown, as of Jun 29, 2017
Lead Investors: N/A

  

38. MediCheck:

 

 

A quick and easy way to verify the cleanliness of washer disinfectors, dental tools, and surgical equipment in support of infection prevention and control. MediCheck provides people with a shortcut to medical specialists, making better use of society’s medical knowledge and delivering it to more people in need.

Year Founded: 2016


Total Funding: SEK8.7M in 2 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Feb 1, 2018
Lead Investors: N/A

  

39. Wrapp:

 

 

Wrapp is a payback-app that connects you to your bankcard to get offers & rewards from shops & brands you like! All your personal offers & rewards are automatically connected to your bankcard when you activate them in the app, and cash-backs are directly transfered back into your bank card after your purchase.

Year Founded: 2011


Total Funding: $36.6M in 8 funding rounds, to date
Last Funding Type: Undisclosed, as of Jul 12, 2017
Lead Investors: Greylock Partners, Qualcomm Ventures, Atomico, American Express, Nordea, SEB Private Equity & Klarna

  

40. Karma:

 

 

Karma is a digital shopping platform that enables its users to find and share deals and offers. It collects and analyzes shopping data to increase store sales which allows its users to buy food items and pick up at the restaurant and it helps its users protect the environment by reducing food waste.

Year Founded: 2015


Total Funding: $4.7M in 3 funding rounds, to date
Last Funding Type: Venture- Series Unknown, as of Jul 3, 2017
Lead Investors: e.ventures, eEquity & Norrsken Foundation

   

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