Avatar photoLars Eriksson

Lars is a Stockholm-based correspondent specialising in Nordic and Baltic innovation. He has followed the rise of the Scandinavian startup scene since its early days, with a particular focus on cleantech, hardware and deep tech ventures emerging from Sweden, Denmark, Finland, Norway and the Baltic states.

Ikea to Cut 850 Jobs Globally as Furniture Giant Seeks Organizational Simplification

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Inter Ikea Group announced 850 job eliminations globally (300 in Sweden) to reduce complexity and costs. The reorganization aims to improve decision-making speed and reduce prices for customers. In Portugal, Ikea is undergoing gradual structural updates with individual transition plans for affected employees. The company reported a 32% drop in net profit to 1.5 billion euros in fiscal year 2024/25.

Swedish Indie Studio Odd Dreams Digital Sells 200,000 Copies of Debut Game in Three Days

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Odd Dreams Digital, a Malmö-based indie game studio founded in 2022, achieved remarkable success with the launch of its debut game ‘Everything is Crab’, an animal evolution roguelite action game. The game sold over 200,000 copies in three days and received strong critical acclaim on Steam. The studio, led by CEO Denis Asensio with team members from AAA studios including Cyberpunk 2077 and Star Wars Outlaws, participated in the Haven game support program before launch.

Klarna Reaches Profitability Milestone as Swedish Fintech Scales to 119 Million Users

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Klarna, the Swedish fintech company, announced significant growth metrics including a 49% increase in connected merchants to over 1 million and a 21% growth in users to 119 million. The company processed $33.7 billion in payment volume (up 33%) and achieved its first profitable quarter with $1 billion in revenue and $1 million net profit. Klarna is expanding US market presence through partnerships with Stripe, Nexi, JPMorgan Payments, and Worldpay.

Swedish Startup Transforms Coastal Seagrass into Sustainable Textiles with €300k Pre-Seed Round

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Salt & Fiber, a Malmö-based ClimateTech startup, has secured €300k in pre-Seed funding to scale its technology that transforms beach-cast seagrass into sustainable textile yarns. The company simultaneously launched a €45,000 crowdfunding campaign. The solution addresses coastal waste management (municipalities currently landfill seagrass) and the sustainability challenges of conventional textile production by creating biodegradable, plant-based fibres that require no fresh water, fertilizers, or land. The company is in pilot production, has a supply agreement with a Swedish municipality, and is part of the Älmhult x IKEA incubator, targeting commercialization between 2027-2028.

Danish Biotech Startup Alcolase Secures €1.5M to Develop Enzyme Treatment for Genetic Alcohol Intolerance

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Danish biotech startup Alcolase raised €1.5 million to develop an enzyme-based technology that breaks down alcohol in the stomach before absorption, targeting the 540 million people in East Asia with ALDH2 deficiency (genetic alcohol intolerance). The company plans to launch in Singapore and South Korea, with a UK subsidiary supporting therapeutic drug delivery development.

Danish BioInnovation Institute Launches AI Lab to Accelerate Research Commercialization

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The Danish BioInnovation Institute launched a new AI Lab designed to shorten the path from academic research to market implementation. The article discusses whether Poland will develop a similar operational mechanism connecting science, startups, administration, industry, VC funds, and data access.

Denmark’s Hidden IPO Pipeline: 54 Companies Positioned for Public Markets by 2030

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A new analysis by The Association of Listed Danish Companies (FBV) reveals 54 Danish companies with IPO potential by 2030, including scaled startups like Pleo, Lunar, Veo, and Too Good To Go. The report suggests Denmark’s IPO pipeline is stronger than commonly assumed, with these 54 candidates representing nearly a third of the current Danish stock market. The analysis recommends three key steps: encouraging pension fund investment in Danish equities, improving retail investor incentives, and simplifying the listing process.

Danish GoMore Acquires Getaround Europe to Create Continent’s Largest Peer-to-Peer Car-Sharing Platform

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Danish peer-to-peer car-sharing platform GoMore has acquired Getaround Europe, creating Europe’s largest P2P car-sharing platform with operations in 11 countries across Northern and Western Europe. The combined company has 5 million users, 70,000 active shared cars, and 1.5 million annual rentals. The acquisition is backed by prominent Danish investors and financing from EIFO and Nordea.