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Most Interesting Startups from Sweden to Watch

After exploring innovative solutions created in France, Croatia, Finland and Netherlands, let’s dive into the Sweden startup scene. Discover a selection of the 19 most interesting tech companies worth keeping an eye on.

Juni 

Founded in 2021, Juni is offering an integrated payment solution for ecommerce businesses. The platform integrates with banks and payment providers, automates routines, and provides a comprehensive financial overview. It serves as a digital financial assistant, streamlining administrative tasks so teams can focus on growth. Juni recently raised €281M, with a significant portion led by Mubadala Capital. The platform's unique features, such as a Juni Visa card with cashback and multi-currency options, enhance its appeal. Backed by investors EQT Ventures, and Cherry Ventures, Juni aims to refine its credit card offering and expand globally.

Moralis

Moralis, established in 2020, offers an advanced blockchain development platform, streamlining the creation of decentralized apps (dApps). It handles the backend, empowering developers to focus on the frontend. Accessible to all developers, this plug-and-play solution enhances efficiency, making blockchain projects more achievable and accessible to a wider pool of talent. With €53.4M in funding, the Stockholm-based startup recently secured $40M in a Series A round led by Coinbase Ventures and EQT Ventures. Moralis aims to catalyze Web3 adoption and cross-chain connectivity, democratizing internet use and empowering developers.

Novatron Fusion Group

Novatron Fusion Group is a seed stage startup dedicated to developing commercial fusion reactors. Startup aims to provide a secure, sustainable, and emission-free source of nuclear energy for the future by overcoming the challenges o f stabilizing superheated plasma at over 100M degrees, a crucial step for fusion reactors, by using a magnetic plasma confinement system.In August 2023 has secured €5M led by Climentum Capital, with participation from Industrifonden and Santander InnoEnergy Climate Fund.   

Candela

Candela is a hardware startup specializing in electric hydrofoil watercraft, particularly electric passenger ferries. They use hydrofoil technology to increase speed while reducing energy consumption, promoting eco-friendly water transportation. Startup develops and manufactures water vessels equipped with hydrofoil technology, which lifts the boat's hull above the water, reducing drag and increasing speed for energy-efficient and sustainable water transportation. Recently, Candela secured $20M in a funding round, led by EQT Ventures, to scale up production of its electric ferries and further its mission.

Neko Health 

Neko Health, co-founded by Spotify's Daniel Ek, offers innovative preventive healthcare solutions. Their startup offers full-body scans backed by AI technology to detect conditions like skin cancer and cardiovascular disease, diabetes, and other metabolic syndromes, at an early stage. With €60M raised in its first external funding round, led by Lakestar and includes Atomico and General Catalyst, Neko Health aims to expand its solution across Europe. Neko Health's goal is to transform healthcare by focusing on prevention and early detection.

Lassie

Stockholm's Lassie is reshaping pet insurance. Founded in 2020, it offers more than coverage – its app equips pet owners with preventive knowledge through training and courses, lowering insurance costs. Lassie has launched the Tass Fund, which aims to make pet insurance accessible to those who might struggle to afford it. With 80% app adoption and 10k+ customers, Lassie leads in pet health insights. Securing about €13.5M in funding to date, including a notable €11M round led by Felix Capital, propels Lassie's expansion beyond Sweden. This PetTech pioneer bridges the gap between pet care and tech innovation.

Modvion

Modvion focuses on designing and manufacturing wind turbine towers using laminated wood offers a sustainable and eco-friendly alternative to traditional tower materials like steel and concrete. Securing €11M in funding from investors including Vestas Ventures and the EU Commission's EIC Fund, Modvion offers an impressive 90% reduction in emissions compared to their steel counterparts and has the added benefit of carbon dioxide storage. This innovative approach aligns perfectly with global efforts to achieve net-zero emissions by 2050, making wind energy both sustainable and economically viable.

Minna Technologie

Minna Technologies, backed by €15.5M in a Series B round led by Element Ventures, offers a subscription management app integrated with banking and fintech apps. They help users manage subscriptions, save money, and enhance engagement, partnering with banks like Swedbank, ING, and Lloyds Banking Group. With over €23M in total funding, they were also a runner-up in the EIT Digital Challenge's Digital Finance category in 2019.

Sesamy

Sesamy, a B2C startup based in Stockholm, is transforming the way users access digital content. Unlike traditional subscription models, where users pay for an entire package, Sesamy empowers users to pay only for the specific articles, books, or podcasts they're interested in. Their SmartID technology optimizes pricing, attracting casual readers without deterring subscribers. With €8.7M in funding, including €3.3M in the latest seed round, Sesamy aims to liberate consumers and publishers from conventional subscription models. This startup's personalized approach could mark a turning point in digital content consumption.

Carla

Carla, founded in 2021, is redefining how people engage with electric vehicles (EVs). With a lightning-fast 72-hour delivery, thorough inspections, and customer-centric guarantees, Carla's online marketplace offers a seamless EV ownership experience. Backed by €19M in funding, including Bonnier Ventures, Carla is driving its mission to simplify and enhance EV ownership on a larger scale. Co-founded by Patrik Illerstig, a former Volvo Cars executive, and tech entrepreneur Niklas Jungegård, Carla is at the forefront of shaping the future of EV e-commerce in Europe and beyond. 

Quartr

Quartr, established in 2020, is a platform that allows publicly listed companies to globally share information and insights, aiding both corporate professionals and investors in staying informed about the global financial market and facilitates better-informed investment decisions. With a suite of products including mobile and web apps, Quartr connects the financial community by providing access to real-time data and insights and an API solution for live streaming earnings calls and distributing financial documents. The company secured €7M in funding last year and serves as a pivotal player in fostering a more interconnected financial community.

GoNorth

Go North, based in Gothenburg and established in 2020, is disrupting the Amazon aggregation space in the Nordic region, allows sellers to store their inventory in Amazon's warehouses, and Amazon takes care of shipping, customer service, and other logistics. Notably, Go North also prioritizes building eco-friendly brands and enabling teams to enter new markets successfully. In 2023, they increased their bond loan by around €4.85M after a recent equity raise of €13M. Their goal is to rapidly scale brands while achieving organic profit growth and become a market-leading aggregator globally. 

Medoma

Medoma, a Swedish healthtech startup, is designed to facilitate hospital-level acute care delivered directly to patients' homes. By combining physical visits from medical staff with digital consultations and monitoring through their platform, Medoma aims to reduce hospital stays, complications, and costs while increasing patient satisfaction. Founded in 2021, the startup has raised about €7M, partnered with Capio St Görans hospital to test virtual acute wards, aiming to transform acute care across Europe. Investors include Sophia Bendz, VNV Global, Inventure, and Bonnier Ventures.

ClimateView

ClimateView helps cities accelerate their transition to sustainable practices. This SaaS tool enables data-driven decision-making regarding climate action plans, covering policy, implementation, and impact. It's used by over 30 cities, including Madrid and Cincinnati. ClimateView recently raised €14M to develop their climate finance platform and support cities in their climate investment planning as part of the EU's initiative for Climate-neutral and Smart Cities. The funding was led by 2050 with the aim to bridge the gap between climate-focused planning and financial institutions, helping cities drive impactful, long-term projects.

DREM

DREM, founded in 2022, is transforming home heating across Europe with a €2M investment from Peak. DREM's digital platform simplifies the adoption of heat pumps for residential properties. Offering digital quotes, virtual home consultations, and seamless connections to specialized local installers, DREM is redefining the way people heat their homes. While 50% of Swedish households use heat pumps, the rest of Europe lags at just 10%. With Peak's support, DREM is on a mission to make Europe's homes greener, one installation at a time.

Precisely

Originating in Gothenburg, Precisely is a legal tech startup determined to simplify contract management that reduces the time spent on contract-related tasks, benefiting not only legal teams but also HR, sales, and procurement departments. In 2021 startup secured €1.8M investment led by Peak Capital in Amsterdam, Precisely is set to expand its team, enhance its product, and accelerate international growth. The aim is to revolutionize various legal processes beyond contract management, making legal operations more efficient for businesses worldwide.

Freshsound

Freshsound, a seed stage startup,  is simplifying music licensing for professional storytellers. Their user-friendly platform enables quick access to commercially released songs, enhancing content quality. With a recent €2M funding round led by Zenith Venture Capital and Aligned, Freshsound is gearing up for international expansion. The platform connects entertainment and advertising companies with licensed music using advanced algorithms. Freshsound's journey is about making music licensing easier, empowering storytellers, and ensuring fair compensation for music creators.

Improvin'

Improvin' is a developing platform that helps agri-food companies measure, report, and reduce greenhouse gas emissions while enhancing biodiversity. In a recent €3.5M seed funding round led by Pale Blue Dot and Dynamo Ventures, Improvin' is set to expand into new markets including Germany, Belgium, France, and the Netherlands. Startup addresses a critical issue in agriculture - emissions and sustainability. Over 70% of emissions in the agri-food industry originate from production, but visibility on where improvements can be made is limited. Improvin's platform offers a practical solution, providing tools to measure emissions and recommend actions.

Altris

Altris specializes in sodium-ion battery technology, which has the potential to be more cost-effective and eco-friendly than traditional lithium-ion batteries. They manufacture critical battery components like Fennac® and offer battery designs for various energy storage and transportation applications. After raising €9.6M in a Series A round in March 2022, they've recently secured €4.8M from notable backers like Northvolt and the European Commission's InnoEnergy. This funding will help them complete a manufacturing facility in Uppsala, getting them closer to commercializing their sodium-ion batteries.

Want to discover more interesting startups from other countries? Check out the list below. Top Startups from:

Related Posts:

Most Interesting Startups From Croatia To Watch (by Sofia Drobychevskaya, Editor, Vestbee)

Most Interesting Startups From France To Watch (by Aleksandra Woszczyk, Editor, Vestbee)

Most Interesting Startups From Finland To Watch (by Aleksandra Woszczyk, Editor, Vestbee)

 

Analysis#Startups#Sweden


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