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1. TRACXN TOP BUSINESS MODELS REPORT
January 29, 2021
SWEDEN TECH

2. Sweden Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
SwedenSweden Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Sweden Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Funding in last 1 year
3
Alternative Lending $995M
Energy Storage Tech $602M
Food Tech $212M
Banking Tech $125M
Energy Efficiency Tech $70.9M
eSports $68.1M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Antler
J12 Ventures
Almi Invest
7
6
6
Early
Stage
EQT Ventures
Inventure
Industrifonden
5
4
4
Late
Stage
CommBank
BlackRock
Creandum
2
2
2
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Klarna
(2005, Stockholm)
$650M - Series G
Northvolt
(2015, Stockholm)
$600M - Series C
Klarna
(2005, Stockholm)
$200M - Series F
Oatly
(1997, Malmo)
$200M - Series C
Lendify Sweden
(2014, Stockholm)
$115M - Series D
Voi
(2018, Stockholm)
$107M - Series C
Tink
(2012, Stockholm)
$103M - Series E
Tibber
(2016, Stockholm)
$65.0M - Series B
Budbee
(2015, Stockholm)
$63.3M - Series C
G-Loot
(2012, Stockholm)
$56.1M - Series C
MatHem.se
(2009, Stockholm)
$51.8M - Series D
Doktor.se
(2016, Stockholm)
$49.8M - Series C
Stockholm (82%)
Malmo (10%)
Gothenburg (4%)
Solna (1%)
Karlskrona (1%)
Others (3%)

4. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Sweden Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲1 Internet First Direct Lender Purchase Financing $850M 4 Klarna | $650M | Series G Link
2▼1 Lithium Ion Batteries $600M 1 Northvolt | $600M | Series C Link
3▲53
Food Tech > Novel Foods > Food Products > Dairy
Substitute > Plant Based
$200M 1 Oatly | $200M | Series C Link
4<> 0 Free Float Electric Kick Scooter Rentals $136M 2 Voi | $107M | Series C Link
5--
Alternative Lending > Online Lenders > Consumer
Loans > Personal Loans > Marketplace > P2P
$115M 1 Lendify Sweden | $115M | Series D Link
6▼3 Open Banking Aggregation APIs $107M 2 Tink | $103M | Series E Link
7▲38 Ecommerce Last Mile Delivery Services $74.3M 2 Budbee | $63.3M | Series C Link
8▲13 Home Energy Management System $65.0M 1 Tibber | $65.0M | Series B Link
9▲1 Real Money eSports Gaming Platforms $56.1M 1 G-Loot | $56.1M | Series C Link
10▼3
Online Grocery > B2C Ecommerce > Multi Category
> Retailer > Own Delivery Fleet
$51.8M 1 MatHem.se | $51.8M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Sweden Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▲2
Veterinary HealthTech > Digital Health > Veterinary
Services > Telemedicine
$35.6M 1 FirstVet | $35.6M | Series C Link
12▲2
Pet Tech > Service Platforms > Veterinary >
Telemedicine
$35.6M 1 FirstVet | $35.6M | Series C Link
13--
E-Commerce Enablers > Tools > PIM > Catalog
Management
$32.0M 1 inRiver | $32.0M | Series C Link
14-- Podcast Management Software $27.0M 1 Acast | $27.0M | Series C Link
15-- Cyber Risk Assessment $23.8M 1 Outpost24 | $23.8M | Series B Link
16-- IoT Network Security $23.8M 1 Outpost24 | $23.8M | Series B Link
17-- Digital Therapeutics for Physiotherapy $23.0M 1 Joint Academy | $23.0M | Series B Link
18--
Beauty Tech > Ecommerce > Multi Category >
Organic > Internet First Brand
$22.5M 1 CAIA | $22.5M | Series B Link
19--
Beauty & Personal Care Products > Makeup > Multi-
Category
$22.5M 1 CAIA | $22.5M | Series B Link
20▲17 Inflammatory Diseases Drugs $21.7M 1 Gesynta Pharma | $21.7M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Sweden Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Electric Trucks $20.0M 2 Volta Trucks | $20.0M | Series B Link
22▲21 Banking Tech > Personal Finance Management $18.9M 1 Minna Techno.. | $18.9M | Series B Link
23--
Language Learning > IT Solutions > Pronunciation
Feedback
$18.0M 1 Sanalabs | $18.0M | Series A Link
24-- Employee Engagement Platforms $17.8M 1 Winningtemp | $17.8M | Series B Link
25-- Smart Lockers for E-Commerce $15.2M 1 Instabox | $15.2M | Series A Link
26--
Diagnostics (by Technology) > Diagnostic Assays and
Systems > In vitro Diagnostics > Protein-..
$15.0M 1 Reccan Diagn.. | $15.0M | Series B Link
27--
Oncology > In-Vitro Diagnostic Tests >
Gastrointestinal Cancer > Pancreatic Cancer
$15.0M 1 Reccan Diagn.. | $15.0M | Series B Link
28--
Gastroenterology > In Vitro Diagnostic Tests >
Gastrointestinal Cancer > Pancreatic Cancer
$15.0M 1 Reccan Diagn.. | $15.0M | Series B Link
29--
eSports > eSports Platforms > Competitive Gaming >
Free-to-play Tournaments
$12.0M 1 Challengermode | $12.0M | Series A Link
30--
Biopharma Outsourcing > CRO > Clinical
Development > Functional Services > Research Site
and ..
$11.9M 1 Trialbee | $11.9M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Sweden Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Patient Recruitment Platform for Clinical Trials $11.9M 1 Trialbee | $11.9M | Series B Link
32--
Renewable Energy Tech > Marine Energy > Wave >
Floating > Submerged
$10.8M 2 CorPower Ocean | $10.5M | Series B Link
33▼25 Autonomous Trucks $10.0M 1 Einride | $10.0M | Series A Link
34▼25 Self Driving Trucks $10.0M 1 Einride | $10.0M | Series A Link
35▼10 Internet First Homeowners Insurance $9.1M 1 Hedvig | $9.1M | Series A Link
36-- Mental Health Teleconsultation $8.6M 1 Mindler | $8.6M | Series A Link
37--
E-Commerce Enablers > Marketing > On-Site >
Product Recommendations > Social
$8.3M 1 Flowbox | $8.3M | Series A Link
38--
MarketingTech > Content Marketing > Content
Curation > User Generated Content
$8.3M 1 Flowbox | $8.3M | Series A Link
39-- Accounting Solutions for SMBs $8.0M 1 Bokio | $8.0M | Series B Link
40-- Manufacturing Troubleshooting Software $8.0M 1 Mavenoid | $8.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Sweden Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41--
Internet First Insurance Platforms > Consumer
Insurance Management > Claims Support > Life
$8.0M 1 Insurello | $8.0M | Series A Link
42--
Biotech R&D > Instrument Systems > Imaging
Systems > Molecular Imaging > Single Molecule
Imag..
$7.6M 2 Single Techno.. | $6.0M | Series A Link
43-- PaaS > Pure Platform $7.0M 2 Avassa | $7.0M | Series A Link
44-- Cloud Management Platforms $7.0M 1 Avassa | $7.0M | Series A Link
45--
Biotech R&D > Research Applications > Industrial
Biotechnology > Manufacturing
$6.9M 1 EnginZyme | $6.9M | Series A Link
46-- Autonomous Vehicles > Testing > Training Data $6.8M 1 Annotell | $6.8M | Series A Link
47-- Food & Beverage Products > Dairy > Milk $6.6M 1 Sproud | $6.6M | Series A Link
48--
Food Tech > Novel Foods > Food Ingredients > Dairy
Substitute > Plant Based
$6.6M 1 Sproud | $6.6M | Series A Link
49▲74 Graphene $6.1M 1 Graphmatech | $6.1M | Series A Link
50▲74
Advanced Materials > Nanostructures > Carbon >
Graphene
$6.1M 1 Graphmatech | $6.1M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Internet First Direct Lender Purchase
Financing - Sweden
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$850M (▲84.8%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.6B
2
-
5
1
Alternative Lending (Capcito)
(# Cos: 67 | $1.8B)
Online Lenders (Mitigram)
(# Cos: 44 | $1.8B)
Consumer Loans (Anyfin)
(# Cos: 22 | $1.8B)
Point of Sale Financing (Paylevo)
(# Cos: 7 | $1.6B)
Direct Lender (Klarna)
(# Cos: 5 | $1.6B)
Klarna
(2005, Stockholm, $1.6B)
Paylevo
(2015, Stockholm)
Billender
(2018, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Klarna (2005, Stockholm)
$650M - Series G - Sep 2020
Klarna (2005, Stockholm)
$200M - Series F - Jan 2020
Klarna (2005, Stockholm)
Undisclosed - Series G - Oct 2020
Klarna (2005, Stockholm)
Undisclosed - Series F - Mar 2020

10. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Lithium Ion Batteries - Sweden
02
10
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$600M (▼41.5%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.6B
1
-
2
1
Energy Storage Tech (SaltX Technology)
(# Cos: 59 | $1.8B)
Battery (Altris)
(# Cos: 12 | $1.6B)
Secondary Battery (Celltech)
(# Cos: 2 | $1.6B)
Lithium Ion (Northvolt)
(# Cos: 2 | $1.6B)
Northvolt
(2015, Stockholm, $1.6B)
Celltech
(1984, Kista)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Northvolt (2015, Stockholm)
$600M - Series C - Sep 2020

11. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Food Tech > Novel Foods > Food Products > Dairy Substitute
> Plant Based - Sweden
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$200M (▲5452%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$236M
2
-
2
1
Food Tech (Karma)
(# Cos: 60 | $285M)
Novel Foods (Bayn Europe)
(# Cos: 4 | $248M)
Dairy Substitute (Noquo Foods)
(# Cos: 2 | $236M)
Plant Based (Oatly)
(# Cos: 2 | $236M)
Oatly
(1997, Malmo, $233M)
Noquo Foods
(2019, Stockholm, $3.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oatly (1997, Malmo)
$200M - Series C - Jul 2020

12. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Free Float Electric Kick Scooter Rentals -
Sweden
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$136M (▲19.4%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$304M
1
-
4
1
Electric Vehicles (Einride)
(# Cos: 80 | $920M)
Vehicle as a Service (Bzzt)
(# Cos: 12 | $304M)
Kick Scooters (GLYDE)
(# Cos: 6 | $304M)
Free Float (Voi)
(# Cos: 4 | $304M)
Voi
(2018, Stockholm, $304M)
GLYDE
(2018, Stockholm)
Ozon
(2018, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Voi (2018, Stockholm)
$107M - Series C - Dec 2020
Voi (2018, Stockholm)
$29.7M - Series B - Jul 2020

13. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Alternative Lending > Online Lenders > Consumer Loans >
Personal Loans > Marketplace > P2P - Sweden
05
13
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$115M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$117M
2
-
3
1
Alternative Lending (Mitigram)
(# Cos: 67 | $1.8B)
Online Lenders (Anyfin)
(# Cos: 44 | $1.8B)
Consumer Loans (Klarna)
(# Cos: 22 | $1.8B)
Personal Loans (Fairlo)
(# Cos: 8 | $118M)
Marketplace (LendLink)
(# Cos: 5 | $117M)
P2P (Lendify Sweden)
(# Cos: 3 | $117M)
Lendify Sweden
(2014, Stockholm, $117M)
LendLink
(2013, Stockholm)
Trustbuddy
(2009, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Lendify Sweden (2014, Stockholm)
$115M - Series D - Oct 2020

14. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Tink (2012, Stockholm)
$103M - Series E - Dec 2020
Open Payments (2017, Stockholm)
$3.5M - Seed - Aug 2020
Open Banking Aggregation APIs -
Sweden
06
14
Back to index
Banking Tech (Minna Technologies)
(# Cos: 44 | $430M)
Open Banking (Open Payments)
(# Cos: 5 | $316M)
Aggregation APIs (Tink)
(# Cos: 3 | $316M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$107M (▼39.6%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$316M
2
-
3
2
Tink
(2012, Stockholm, $311M)
Open Payments
(2017, Stockholm, $4.9M)
Finshark
(2019, Lund)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Ecommerce Last Mile Delivery Services -
Sweden
07
15
Back to index
E-Commerce Logistics (Ingrid)
(# Cos: 7 | $113M)
Last Mile (Budbee)
(# Cos: 4 | $112M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$74.3M (▲1282%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$112M
2
-
4
1
Budbee
(2015, Stockholm, $112M)
Gordon Delivery
(2015, Stockholm)
DiPP-R
(2020, Lund)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Budbee (2015, Stockholm)
$63.3M - Series C - Jan 2021
Budbee (2015, Stockholm)
$11.0M - Series B - Apr 2020

16. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Home Energy Management System -
Sweden
08
16
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$65.0M (▲442%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$77.0M
1
-
1
1
Energy Efficiency Tech (Heliospectra)
(# Cos: 56 | $213M)
Energy Management System (Plejd)
(# Cos: 24 | $86.3M)
Building Automation Systems
(Greenbyte)
(# Cos: 8 | $83.2M)
HEMS (Tibber)
(# Cos: 1 | $77.0M)
Tibber
(2016, Stockholm, $77.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tibber (2016, Stockholm)
$65.0M - Series B - Nov 2020

17. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Real Money eSports Gaming Platforms -
Sweden
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$56.1M (▲125%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$99.4M
2
-
4
1
eSports (DreamHack)
(# Cos: 17 | $115M)
eSports Platforms (Epulze)
(# Cos: 10 | $113M)
Competitive Gaming (Challengermode)
(# Cos: 9 | $113M)
Real Money Gaming (G-Loot)
(# Cos: 4 | $99.4M)
G-Loot
(2012, Stockholm, $99.4M)
Epulze
(2015, Orebro)
Sventertainment
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
G-Loot (2012, Stockholm)
$56.1M - Series C - Oct 2020

18. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Online Grocery > B2C Ecommerce > Multi Category > Retailer
> Own Delivery Fleet - Sweden
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$51.8M (▲19.6%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$157M
1
-
2
1
Online Grocery (Matsmart)
(# Cos: 51 | $227M)
B2C Ecommerce (Karma)
(# Cos: 32 | $223M)
Multi Category (Mat.se)
(# Cos: 9 | $160M)
Retailer (NGroceries)
(# Cos: 6 | $157M)
Own Delivery Fleet (MatHem.se)
(# Cos: 2 | $157M)
MatHem.se
(2009, Stockholm, $157M)
Farm2home
(2018, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MatHem.se (2009, Stockholm)
$51.8M - Series D - Feb 2020

19. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
FirstVet (2016, Stockholm)
$35.6M - Series C - Nov 2020
Veterinary HealthTech > Digital Health > Veterinary Services
> Telemedicine - Sweden
11
19
Back to index
Veterinary HealthTech (BeeScanning)
(# Cos: 14 | $71.8M)
Digital Health (Hoofstep)
(# Cos: 6 | $71.4M)
Telemedicine (FirstVet)
(# Cos: 1 | $71.2M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$35.6M (▲73.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$71.2M
1
-
1
1
FirstVet
(2016, Stockholm, $71.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
FirstVet (2016, Stockholm)
$35.6M - Series C - Nov 2020
Pet Tech > Service Platforms > Veterinary >
Telemedicine - Sweden
12
20
Back to index
Pet Tech (Ophena)
(# Cos: 16 | $71.7M)
Service Platforms (Tasspass)
(# Cos: 2 | $71.2M)
Telemedicine (FirstVet)
(# Cos: 1 | $71.2M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$35.6M (▲73.3%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$71.2M
1
-
1
1
FirstVet
(2016, Stockholm, $71.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
E-Commerce Enablers > Tools > PIM > Catalog
Management - Sweden
13
21
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$32.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$58.9M
2
-
2
1
E-Commerce Enablers (Now Interact)
(# Cos: 78 | $112M)
Tools (Bambuser)
(# Cos: 26 | $89.1M)
PIM (Looklet)
(# Cos: 5 | $58.9M)
Catalog Management (inRiver)
(# Cos: 2 | $58.9M)
inRiver
(2007, Malmo, $57.4M)
Looklet
(2009, Stockholm, $1.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
inRiver (2007, Malmo)
$32.0M - Series C - Nov 2020

22. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Podcast Management Software -
Sweden
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$27.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$84.6M
1
-
2
1
Radio Tech (PodMe)
(# Cos: 14 | $2.1B)
Internet Radio & Podcast (Spotify)
(# Cos: 14 | $2.1B)
Enablers (Podspace)
(# Cos: 5 | $84.6M)
Podcast (Opinion)
(# Cos: 4 | $84.6M)
PodCast Management (Acast)
(# Cos: 2 | $84.6M)
Acast
(2014, Stockholm, $84.6M)
Keruzo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Acast (2014, Stockholm)
$27.0M - Series C - Jul 2020

23. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Outpost24 (2000, Karlskrona)
$23.8M - Series B - Dec 2020
Cyber Risk Assessment - Sweden
15
23
Back to index
Cybersecurity (Detectify)
(# Cos: 124 | $165M)
Security Analytics (Unomaly)
(# Cos: 9 | $31.6M)
Cyber Risk & Vulnerability Assessment
(Outpost24)
(# Cos: 6 | $23.8M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$23.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$23.8M
1
-
6
0
Outpost24
(2000, Karlskrona, $23.8M)
Innovate Security
(2015, Stockholm)
Holm Security
(2015, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Outpost24 (2000, Karlskrona)
$23.8M - Series B - Dec 2020
IoT Network Security - Sweden
16
24
Back to index
Internet of Things Infrastructure (Crosser)
(# Cos: 54 | $47.8M)
IoT Security (AddSecure)
(# Cos: 2 | $23.8M)
Network Security (Outpost24)
(# Cos: 1 | $23.8M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$23.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$23.8M
1
-
1
0
Outpost24
(2000, Karlskrona, $23.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

25. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Digital Therapeutics for Physiotherapy -
Sweden
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$23.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.0M
2
-
3
1
Healthcare IT (NuvoAir)
(# Cos: 141 | $109M)
Value Based Care (Goodsomnia)
(# Cos: 35 | $37.8M)
Patient Engagement (Mevia)
(# Cos: 14 | $31.4M)
Digital Therapeutics (Brighter)
(# Cos: 6 | $30.0M)
Physiotheraphy (Joint Academy)
(# Cos: 3 | $30.0M)
Joint Academy
(2007, Malmo, $30.0M)
Qinematic
(2012, Stockholm)
GoMobilus
(1994, Gothenburg)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Joint Academy (2007, Malmo)
$23.0M - Series B - Sep 2020

26. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Beauty Tech > Ecommerce > Multi Category > Organic >
Internet First Brand - Sweden
18
26
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$22.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$22.5M
3
-
3
1
Beauty Tech (Wavy)
(# Cos: 50 | $47.9M)
Ecommerce (Airinum)
(# Cos: 40 | $43.8M)
Multi Category (Eleven)
(# Cos: 13 | $24.0M)
Organic (Lifelong)
(# Cos: 5 | $23.5M)
Internet First Brand (CAIA)
(# Cos: 3 | $22.5M)
CAIA
(2018, Stockholm, $22.5M)
Lifelong
(2019, Stockholm)
BioCool
(2012, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CAIA (2018, Stockholm)
$22.5M - Series B - Jul 2020

27. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
CAIA (2018, Stockholm)
$22.5M - Series B - Jul 2020
Beauty & Personal Care Products > Makeup >
Multi-Category - Sweden
19
27
Back to index
Beauty & Personal Care Products (FOREO)
(# Cos: 70 | $42.6M)
Makeup (IsaDora)
(# Cos: 8 | $22.5M)
Multi-Category (CAIA)
(# Cos: 6 | $22.5M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$22.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$22.5M
3
-
6
1
CAIA
(2018, Stockholm, $22.5M)
IsaDora
(1983, Malmo)
Marena Beaute
(2015, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Gesynta Pharma (2017, Solna)
$21.7M - Series B - Sep 2020
Inflammatory Diseases Drugs - Sweden
20
28
Back to index
Immunology (Idogen)
(# Cos: 25 | $188M)
Drugs (Hansa Biopharma)
(# Cos: 19 | $188M)
Inflammatory Diseases (Gesynta Pharma)
(# Cos: 6 | $31.1M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$21.7M (▲221%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$31.1M
5
-
6
1
Gesynta Pharma
(2017, Solna, $31.1M)
SynAct Pharma
(2012, Lund)
Pronoxis
(2009, Gothenburg)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Electric Trucks - Sweden
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$20.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$70.4M
2
-
2
1
Electric Vehicles (Voi)
(# Cos: 80 | $920M)
Automaker (CAKE)
(# Cos: 34 | $611M)
Commercial Vehicles (Volta Trucks)
(# Cos: 7 | $71.6M)
Trucks (Einride)
(# Cos: 2 | $70.4M)
Einride
(2016, Stockholm, $50.4M)
Volta Trucks
(2019, Sigtuna, $20.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Volta Trucks (2019, Sigtuna)
$20.0M - Series B - Jan 2021
Einride (2016, Stockholm)
$10.0M - Series A - Oct 2020

30. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Banking Tech > Personal Finance
Management - Sweden
22
30
Back to index
Banking Tech (Tink)
(# Cos: 44 | $430M)
Personal Finance Management (Minna
Technologies)
(# Cos: 4 | $29.0M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$18.9M (▲201%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$29.0M
3
-
4
1
Minna Technologies
(2016, Gothenburg, $28.0M)
Econans
(2017, Gothenburg, $441K)
StockRepublic
(2019, Stockholm, $556K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Minna Technologies (2016, Gothenburg)
$18.9M - Series B - Jan 2021

31. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Language Learning > IT Solutions > Pronunciation
Feedback - Sweden
23
31
Back to index
Language Learning (The Minnits)
(# Cos: 2 | $23.0M)
Pronunciation Feedback (Sanalabs)
(# Cos: 1 | $23.0M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$18.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$23.0M
1
-
1
1
Sanalabs
(2016, Stockholm, $23.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sanalabs (2016, Stockholm)
$18.0M - Series A - Jan 2021

32. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Winningtemp (2014, Gothenburg)
$17.8M - Series B - Oct 2020
Employee Engagement Platforms -
Sweden
24
32
Back to index
HRTech (Quinyx)
(# Cos: 166 | $163M)
Employee Engagement (Happy at Work)
(# Cos: 12 | $22.9M)
Suite (Winningtemp)
(# Cos: 4 | $21.4M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$17.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$21.4M
2
-
4
1
Winningtemp
(2014, Gothenburg, $21.4M)
Henry
(2016, Stockholm)
Puls
(2010, Malmoe)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

33. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Smart Lockers for E-Commerce - Sweden
25
33
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$15.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.2M
1
-
3
1
Logistics Tech (Budbee)
(# Cos: 85 | $212M)
Ecommerce Logistics (Einride)
(# Cos: 17 | $179M)
Access Point (Qlocx)
(# Cos: 3 | $15.2M)
Locker (Instabox)
(# Cos: 3 | $15.2M)
Instabox
(2015, Bromma, $15.2M)
Qlocx
(2016, Stockholm)
Intelliways
(2018, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Instabox (2015, Bromma)
$15.2M - Series A - Apr 2020

34. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Diagnostics (by Technology) > Diagnostic Assays and Systems > In vitro
Diagnostics > Protein-based > Proteomics > Protein Biomarkers - Sweden
26
34
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.0M
2
-
2
1
Diagnostics (by Technology) (Q-linea)
(# Cos: 98 | $154M)
Diagnostic Assays and Systems (Cellavision)
(# Cos: 25 | $79.4M)
In vitro Diagnostics (InDex Pharmaceuticals)
(# Cos: 22 | $75.1M)
Protein-based (AroCell)
(# Cos: 9 | $15.0M)
Proteomics (Reccan Diagnostics)
(# Cos: 3 | $15.0M)
Protein Biomarkers (HiloProbe)
(# Cos: 2 | $15.0M)
HiloProbe
(2016, Umea)
Reccan Diagnostics
(2015, Lund, $15.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Reccan Diagnostics (2015, Lund)
$15.0M - Series B - Mar 2020

35. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Oncology > In-Vitro Diagnostic Tests > Gastrointestinal
Cancer > Pancreatic Cancer - Sweden
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.0M
1
-
1
1
Oncology (Alligator Bioscience)
(# Cos: 75 | $193M)
In-Vitro Diagnostic Tests (Elypta)
(# Cos: 23 | $34.7M)
Gastrointestinal Cancer (BiBB)
(# Cos: 4 | $15.6M)
Pancreatic Cancer (Reccan
Diagnostics)
(# Cos: 1 | $15.0M)
Reccan Diagnostics
(2015, Lund, $15.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Reccan Diagnostics (2015, Lund)
$15.0M - Series B - Mar 2020

36. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Reccan Diagnostics (2015, Lund)
$15.0M - Series B - Mar 2020
Gastroenterology > In Vitro Diagnostic Tests >
Gastrointestinal Cancer > Pancreatic Cancer - Sweden
28
36
Back to index
Gastroenterology (Cinclus Pharma)
(# Cos: 6 | $86.2M)
In Vitro Diagnostic Tests (InDex
Pharmaceuticals)
(# Cos: 2 | $60.4M)
Pancreatic Cancer (Reccan Diagnostics)
(# Cos: 1 | $15.0M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$15.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$15.0M
1
-
1
1
Reccan Diagnostics
(2015, Lund, $15.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
eSports > eSports Platforms > Competitive Gaming > Free-to-
play Tournaments - Sweden
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$12.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$14.0M
1
-
2
1
eSports (DreamHack)
(# Cos: 17 | $115M)
eSports Platforms (Epulze)
(# Cos: 10 | $113M)
Competitive Gaming (G-Loot)
(# Cos: 9 | $113M)
Free-to-play Tournaments
(Challengermode)
(# Cos: 2 | $14.0M)
Challengermode
(2014, Stockholm, $14.0M)
Battleriff
(2014, Gothenburg)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Challengermode (2014, Stockholm)
$12.0M - Series A - Aug 2020

38. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Biopharma Outsourcing > CRO > Clinical Development > Functional
Services > Research Site and Patient Recruitment - Sweden
30
38
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$11.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.1M
1
-
2
1
Biopharma Outsourcing (Immuneed)
(# Cos: 67 | $86.2M)
CRO (Biotage)
(# Cos: 33 | $86.2M)
Clinical Development (TFS)
(# Cos: 11 | $35.3M)
Functional Services (A+ Science)
(# Cos: 5 | $35.3M)
Research Site and Patient
Recruitment (Trialbee)
(# Cos: 2 | $27.1M)
Trialbee
(2010, Malmo, $27.1M)
Clinical Trial Consult..
(2011, Uppsala)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trialbee (2010, Malmo)
$11.9M - Series B - Apr 2020

39. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Patient Recruitment Platform for Clinical
Trials - Sweden
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$11.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$27.1M
1
-
1
1
Life Sciences Tech (Monocl)
(# Cos: 37 | $43.9M)
Research & Development (Qlucore)
(# Cos: 30 | $37.1M)
Clinical Trials (Viedoc)
(# Cos: 6 | $27.1M)
Patients (Trialbee)
(# Cos: 1 | $27.1M)
Trialbee
(2010, Malmo, $27.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trialbee (2010, Malmo)
$11.9M - Series B - Apr 2020

40. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Renewable Energy Tech > Marine Energy > Wave
> Floating > Submerged - Sweden
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$10.8M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$30.1M
2
-
2
1
Renewable Energy Tech (Greenbyte)
(# Cos: 32 | $249M)
Marine Energy (Minesto)
(# Cos: 7 | $32.6M)
Wave (Ocean Harvesting Technologies)
(# Cos: 6 | $30.1M)
Floating (Waves4Power)
(# Cos: 5 | $30.1M)
Submerged (CorPower Ocean)
(# Cos: 2 | $30.1M)
CorPower Ocean
(2009, Stockholm, $29.8M)
Ocean Harvesting Techn..
(2007, Karlskrona, $355K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CorPower Ocean (2009, Stockholm)
$10.5M - Series B - Jul 2020
Ocean Harvesting.. (2007, Karlskrona)
$355K - Seed - Sep 2020

41. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Autonomous Trucks - Sweden
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$10.0M (▼75.3%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$50.4M
1
-
1
1
Electric Vehicles (Voi)
(# Cos: 80 | $920M)
Automaker (CAKE)
(# Cos: 34 | $611M)
Commercial Vehicles (Velove Bikes)
(# Cos: 7 | $71.6M)
Trucks (Volta Trucks)
(# Cos: 2 | $70.4M)
Autonomous (Einride)
(# Cos: 1 | $50.4M)
Einride
(2016, Stockholm, $50.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Einride (2016, Stockholm)
$10.0M - Series A - Oct 2020

42. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Einride (2016, Stockholm)
$10.0M - Series A - Oct 2020
Self Driving Trucks - Sweden
34
42
Back to index
Autonomous Vehicles (Imagimob)
(# Cos: 12 | $61.8M)
Self Driving Technology (Zenuity)
(# Cos: 3 | $50.4M)
Trucks (Einride)
(# Cos: 1 | $50.4M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$10.0M (▼75.3%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$50.4M
1
-
1
1
Einride
(2016, Stockholm, $50.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Internet First Homeowners Insurance -
Sweden
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$9.1M (▼12.4%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$23.4M
1
-
1
1
Internet First Insurance Platforms (Insurello)
(# Cos: 16 | $38.9M)
Internet First Insurers (Tikkr)
(# Cos: 4 | $30.0M)
P&C (Paydrive)
(# Cos: 3 | $29.2M)
Homeowners (Hedvig)
(# Cos: 1 | $23.4M)
Hedvig
(2016, Stockholm, $23.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hedvig (2016, Stockholm)
$9.1M - Series A - Oct 2020

44. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Mental Health Teleconsultation -
Sweden
36
44
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$8.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$9.0M
5
-
7
0
Healthcare Booking Platforms (Doktor24)
(# Cos: 54 | $415M)
Doctors (Doktor.se)
(# Cos: 27 | $401M)
Telemedicine (Min Doktor)
(# Cos: 24 | $401M)
Teleconsultation (KRY)
(# Cos: 24 | $401M)
Mental Health (Mindler)
(# Cos: 7 | $9.0M)
Mindler
(2018, Stockholm, $8.6M)
Blue Call
(2015, Stockholm)
Competencer
(2014, Stockholm, $370K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mindler (2018, Stockholm)
$8.6M - Series A - Apr 2020

45. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
E-Commerce Enablers > Marketing > On-Site > Product
Recommendations > Social - Sweden
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$8.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.3M
1
-
1
1
E-Commerce Enablers (inRiver)
(# Cos: 78 | $112M)
Marketing (Loop54)
(# Cos: 13 | $14.5M)
On-Site (Now Interact)
(# Cos: 6 | $14.5M)
Product Recommendations (Findify)
(# Cos: 2 | $8.3M)
Social (Flowbox)
(# Cos: 1 | $8.3M)
Flowbox
(2016, Stockholm, $8.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Flowbox (2016, Stockholm)
$8.3M - Series A - Feb 2020

46. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
MarketingTech > Content Marketing > Content Curation >
User Generated Content - Sweden
38
46
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$8.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.3M
1
-
3
1
MarketingTech (Cint)
(# Cos: 150 | $176M)
Content Marketing (Besedo)
(# Cos: 20 | $15.4M)
Content Curation (Hoodin)
(# Cos: 4 | $8.9M)
User Generated Content
(Flowbox)
(# Cos: 3 | $8.3M)
Flowbox
(2016, Stockholm, $8.3M)
Implio
(2016, Stockholm)
Cevoid
(2019, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Flowbox (2016, Stockholm)
$8.3M - Series A - Feb 2020

47. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Accounting Solutions for SMBs - Sweden
39
47
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$8.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$17.7M
3
-
7
1
Finance & Accounting Tech (Kivra)
(# Cos: 84 | $65.1M)
Accounting Solutions (Billhop)
(# Cos: 60 | $54.0M)
Accounting Suite (Fortnox)
(# Cos: 8 | $17.7M)
SMBs (Bokio)
(# Cos: 7 | $17.7M)
Bokio
(2015, Gothenburg, $16.2M)
Fortnox
(2001, Vaxjo, $1.5M)
Unikum
(1982, Lund)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bokio (2015, Gothenburg)
$8.0M - Series B - Apr 2020

48. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Mavenoid (2016, Stockholm)
$8.0M - Series A - Mar 2020
Manufacturing Troubleshooting
Software - Sweden
40
48
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Manufacturing Tech (Cramo)
(# Cos: 39 | $18.7M)
Maintenance Management (SKF)
(# Cos: 9 | $10.3M)
Troubleshooting Software (Mavenoid)
(# Cos: 1 | $10.0M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$8.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.0M
1
-
1
1
Mavenoid
(2016, Stockholm, $10.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

49. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Insurello (2016, Stockholm)
$8.0M - Series A - Jun 2020
Internet First Insurance Platforms > Consumer Insurance
Management > Claims Support > Life - Sweden
41
49
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Internet First Insurance Platforms (Hedvig)
(# Cos: 16 | $38.9M)
Consumer Insurance Management (SafeStuff)
(# Cos: 3 | $9.0M)
Life (Insurello)
(# Cos: 1 | $9.0M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$8.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$9.0M
1
-
1
1
Insurello
(2016, Stockholm, $9.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Biotech R&D > Instrument Systems > Imaging Systems >
Molecular Imaging > Single Molecule Imaging - Sweden
42
50
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Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$7.6M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.6M
1
-
1
0
Biotech R&D (xBrane)
(# Cos: 138 | $186M)
Instrument Systems (Symcel)
(# Cos: 26 | $20.8M)
Imaging Systems (Vironova)
(# Cos: 3 | $7.6M)
Single Molecule Imaging (Single
Technologies)
(# Cos: 1 | $7.6M)
Single Technologies
(2012, Stockholm, $7.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Single Technologies (2012, Stockholm)
$6.0M - Series A - Dec 2020
Single Technologies (2012, Stockholm)
$1.6M - Seed - Oct 2020

51. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
PaaS > Pure Platform - Sweden
43
51
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PaaS (Artificial Solutions)
(# Cos: 15 | $42.3M)
Pure Platform (Avassa)
(# Cos: 3 | $7.0M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$7.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$7.0M
2
-
3
1
Avassa
(2020, Stockholm, $7.0M)
Yodiwo
(2015, Stockholm)
Elastx
(2012, Stockholm)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Avassa (2020, Stockholm)
$7.0M - Series A - Nov 2020
Yodiwo (2015, Stockholm)
Undisclosed - Seed - Dec 2020

52. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Avassa (2020, Stockholm)
$7.0M - Series A - Nov 2020
Cloud Management Platforms - Sweden
44
52
Back to index
Cloud Infrastructure (Cryptzone)
(# Cos: 15 | $23.9M)
Cloud Governance Platform (Avassa)
(# Cos: 5 | $8.1M)
Management (Elastisys)
(# Cos: 5 | $8.1M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$7.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.1M
3
-
5
2
Elastisys
(2011, Umea, $680K)
Avassa
(2020, Stockholm, $7.0M)
InfraSight Labs
(2010, Malmo, $373K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

53. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Biotech R&D > Research Applications > Industrial
Biotechnology > Manufacturing - Sweden
45
53
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$6.9M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.8M
1
-
1
0
Biotech R&D (Symcel)
(# Cos: 138 | $186M)
Research Applications (xBrane)
(# Cos: 57 | $110M)
Industrial Biotechnology (Bioextrax)
(# Cos: 2 | $10.8M)
Manufacturing (EnginZyme)
(# Cos: 1 | $10.8M)
EnginZyme
(2014, Stockholm, $10.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
EnginZyme (2014, Stockholm)
$6.9M - Series A - Apr 2020

54. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Annotell (2018, Gothenburg)
$6.8M - Series A - Sep 2020
Autonomous Vehicles > Testing >
Training Data - Sweden
46
54
Back to index
Autonomous Vehicles (Einride)
(# Cos: 12 | $61.8M)
Testing (AstaZero)
(# Cos: 3 | $8.2M)
Training Data (Annotell)
(# Cos: 1 | $8.2M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$6.8M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$8.2M
1
-
1
1
Annotell
(2018, Gothenburg, $8.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

55. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Sproud (2018, Malmo)
$6.6M - Series A - Jan 2021
Food & Beverage Products > Dairy > Milk
- Sweden
47
55
Back to index
Food & Beverage Products (Cloetta)
(# Cos: 113 | $42.7M)
Dairy (Nick's)
(# Cos: 6 | $41.9M)
Milk (Sproud)
(# Cos: 1 | $11.9M)
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$6.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$11.9M
1
-
1
0
Sproud
(2018, Malmo, $11.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

56. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Food Tech > Novel Foods > Food Ingredients > Dairy
Substitute > Plant Based - Sweden
48
56
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$6.6M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$11.9M
1
-
1
0
Food Tech (Karma)
(# Cos: 60 | $285M)
Novel Foods (Oatly)
(# Cos: 4 | $248M)
Food Ingredients (Bayn Europe)
(# Cos: 2 | $11.9M)
Plant Based (Sproud)
(# Cos: 1 | $11.9M)
Sproud
(2018, Malmo, $11.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sproud (2018, Malmo)
$6.6M - Series A - Jan 2021

57. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Graphene - Sweden
49
57
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Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$6.1M (▲847%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.8M
2
-
3
1
Nanotechnology (Sol Voltaics)
(# Cos: 45 | $171M)
Nanostructures (QuNano)
(# Cos: 6 | $12.9M)
Carbon (2D fab)
(# Cos: 3 | $6.8M)
Graphene (Graphmatech)
(# Cos: 3 | $6.8M)
Graphmatech
(2017, Uppsala, $6.1M)
2D fab
(2013, Sundsvall, $647K)
Graphensic
(2011, Linkoping)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Graphmatech (2017, Uppsala)
$6.1M - Series A - Feb 2020

58. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
Recent Funding Rounds
Advanced Materials > Nanostructures > Carbon >
Graphene - Sweden
50
58
Back to index
Taxonomy
$ Invested in last 1 year in Sweden
Tech
Key Stats
# Funding Rounds in last 1 year in
Sweden Tech
$6.1M (▲847%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.8M
2
-
3
1
Advanced Materials (Re:newcell)
(# Cos: 23 | $22.6M)
Nanostructures (Svenska Aerogel)
(# Cos: 8 | $15.2M)
Carbon (2D fab)
(# Cos: 3 | $6.8M)
Graphene (Graphmatech)
(# Cos: 3 | $6.8M)
Graphmatech
(2017, Uppsala, $6.1M)
2D fab
(2013, Sundsvall, $647K)
Graphensic
(2011, Linkoping)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Graphmatech (2017, Uppsala)
$6.1M - Series A - Feb 2020

59. Sweden Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
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61. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Sweden Tech - Top Business Models Report
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