Favro, a Swedish SaaS company based in Uppsala, was declared bankrupt after a failed investment in Lithuania. The company had raised over 40 million SEK in venture capital. Founder Patric Palm plans to repurchase the business.
Telenor, a Norwegian telecom operator, has acquired a controlling stake in Bahnhof, a Swedish telecom company, for 6.1 billion SEK. The transaction values Bahnhof at 6.1 billion SEK, and Telenor intends to make a bid for the remaining shares.
Swedish SaaS startup Lovable is in advanced talks to secure a $300 million funding round at a $13.2 billion post-money valuation, with participation from major global investors.
Lisa Olsson’s jewelry company Nootka is experiencing a loss and declining revenues due to reduced activity.
The article discusses the growing trend of consumers purchasing refurbished electronics, with refurbed’s PR and Brand Manager Therese Almqvist noting increased interest in circular electronics as a cost-saving measure.
Blykalla, a Swedish nuclear power company, has raised 500 million SEK in funding and appointed former Norrsken CEO Erik Engellau-Nilsson as chairman to drive its industrial expansion.
Kinnevik, a Swedish investment company, wrote down Mathem’s value to zero two years after investing over 3.5 billion SEK in the startup and its sister company Oda. The company has now sold its stake for a negligible amount to an unknown buyer.
Sniph, a perfume brand founded by Tara Derakshan, has turned to profit after several years, described as ‘an important milestone’. However, revenues have remained stagnant for years.
Filip Tysander, founder of Daniel Wellington, has sold all his shares in the company he founded in 2011, marking the end of his journey with the global e-commerce success story.
Unbounded, a newly launched startup using AI to help companies provide direct mobile answers, has raised 80 million SEK from major investors. CEO Carl Lindberg states their solution is unique internationally.