Top Startups / February 2, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Swedish Startups to Watch in 2022

When it comes to entrepreneurship in Scandinavia, Sweden is probably one of the first countries that comes to mind. The nation has a strong spirit for business, evidenced by the fact that some of the worlds most well-known businesses have come from the country, such as H&M, Volvo, Ericsson and many more. This is despite the relatively small population of Sweden. Top startups are common in the country for many reasons.

Seed funding in the country is also higher than the global average, which points to a strong VC presence- which is critical for any startup ecosystem- with Sweden's being far more valuable than the global average.


1. Dreams

Year Founded: 2013

HQ: Stockholm, Sweden

Size: 11-50

Founders: Henrik Rosvall, Joel Broms Brosjö, Johan Hemminger, Johan Stahle, Patrick Stahl

Dreams is a Swedish startup that was founded in 2013 and is currently headquartered in Stockholm, Sweden. The company operates a neo-bank, which makes it easier for people to save and lend money. It also comes with methods of helping people to save through motivation and features. The aim is to help customer to reach their large goals in little, manageable steps.

Since the business was founded, it has done well with securing outside investment. In total, a pair of investors have put a figure of $27.8 Million behind the business. The company also acquired a digital agency and consulting firm in 2018.

2. Bynk

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 11-50

Founders: Daniel Laiti, Dennis Ahlsen, Jonas Hultin, Mathias Johansson

Bynk is a startup in Sweden that was founded in 2016 and is currently headquartered in the capitol city, Stockholm. The company operates a data-driven fintech platform that provides personal loans to individuals in a way that helps them to keep control over their personal finances, with a better service overall.

Since the company was founded six years ago, it has managed to successfully raise $72.7 Million in startup funding from a group of three investors. The latest round of investment was conducted in 2019 and it may be likely that we see more of it in the coming year.

3. ChromaWay

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 11-50

Founders: Alex Mizrahi, Henrik Hjelte, Or Perelman

ChromaWay is a Swedish startup that was founded in 2014 and is currently based in Stockholm, Sweden. The company is a blockchain startup that provides smart contracts and other digital assets for a range of different blockchain applications for both financial and non-financial uses.

The company has managed to successfully raise an undisclosed amount of funding to further their technological development and business plan. This was achieved during a 2018 funding round and the company has also been active in aquisitions, with the takeover of Antler Interactive in 2019.

4. Gimi

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 11-50

Founders: Philip Haglund

Gimi is a startup in Sweden that was founded in 2014 and currently operates from a headquarters in Stockholm. The company have developed an educational app that helps to teach young people about money. This is critical as the financial world becomes more complex, young people need to have the money skills to keep themselves secure.

Since the business was founded nearly eight years ago, it has managed to successfully raise 46 Million Swedish Krona in startup funding from four investors- with the last funding round reportedly taking place during 2020.

5. Stravito

Year Founded: 2017

HQ: Stockholm, Sweden

Size: 11-50

Founders: Anders Örbom, Andreas Lee, Sarah Lee, Thor Olof Philogène

Stravito is a Swedish startup that was founded in 2017 and is currently headquarted in Stockholm. The company operates a SaaS platform for knowledge management that makes it easier to get access to market research data and various different insights. This allows businesses to make faster and more effective decisions.

Since the business was founded, it has seen good success in finding outside funding. As it stands, the business has secured investment from four sources. These investors have allowed the business to raise a total of $21 Million to further its business objectives.

6. Sana Labs

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 11-50

Founders: Joel Hellermark

Sana Labs is a Swedish startup that was founded in 2016 and is currently operating from Stockholm. The company is an education startup with a particular focus on the fields of STEM using artificial intelligence technology to create better and more personalized learning outcomes. The team has engineers from prestigious backgrounds and partners with world-leading institutions for these outcomes.

Since the business was founded, it has seen success in raising startup funding for growth and development. As it stands, the company has managed to raise a figure of $20 Million from a large group of twelve investors- highlighting the appeal of the project.

7. Regily

Year Founded: 2017

HQ: Stockholm, Sweden

Size: 11-50

Founders: Alexey Kuznetsov, Kristoffer Cassel

Regily is a Swedish startup that was founded in 2017 and is currently headquartered in Stockholm, Sweden. The company is on a mission to make the sign-up process for online services much more engaging and hassle-free. Their solutions allow users to keep control of their information whilst providing great growth opportunities for the businesses involved.

Since the business was founded, it has seen some success in attracting outside investment. Specifically, the company has managed to raise a total of $2.2 Million in startup funding, from a sole investor, across three separate rounds of funding.

8. Manomotion

Year Founded: 2015

HQ: Stockholm, Sweden

Size: 11-50

Founders: Daniel Carlman, Haibo Li, Shahrouz Yousefi

Manomotion is a startup from Sweden that was founded in 2015 and is currently based in Stockholm, Sweden. The company is behind the development of advanced 3D gesture analysis technology to assist with the rising popularity of Virtual and Augmented Reality technology, without the need for additional hardware.

The team at Manomotion have been successful in raising outside investment to further research and business development. Since being founded, the company has attracted investment from five investors. This has allowed the business to raise a figure of $6.5 Million in startup funding.

9. Challengermode

Year Founded:  2014

HQ: Stockholm, Sweden

Size: 11-50

Founders: Philip Skogsberg, Robel Efrem

Challengermode is a Swedish startup that was founded in 2014 and is currently based in Stockholm, Sweden. The aim of the company is to make e-sports infrastructure more accessible for every gamer. This is achieved through the running and hosting of tournaments for  a variety of games, that are open to entry for regular gamers. This allows for a competitive and fun environment for varying skill levels.

Since being founded, the company has proven very popular with investors, as the team have seen themselves receiving funding from sixteen investors. These investors have collectively generated a figure of $18 Million for Challengermode.

10. Petbuddy Group

Year Founded: 2018

HQ: Stockholm, Sweden

Size: 11-50

Founders: Alex Baumann, Alex Retzlik, Erik Wide Gustafsson

Petbuddy Group is a Swedish startup that was founded in 2018 and is currently based in Stockholm, Sweden. The company offers subscriptions to pet owners that allows them to get access to healthy foods and treats for their dogs and the company also has plans to introduce further products as it matures further. The company is also strong on its environmental messaging, wanting to do better for the planet.

Since the business was founded, it has seen some success in generating startup funding. This is evidenced by the fact that the business has found investment from a group of four investors. These investors have put a total of $2.3 Million into the company.

11. Heja

Year Founded: 2018

HQ: Stockholm, Sweden

Size: 11-50

Founders: Johan Berglund, Mikael Blix

Heja is a Swedish startup that was founded in 2018 and is currently based in Stockholm, Sweden. The company provides an app solution that allows for easy and transparent communication between sports coaches, managers, parents and players. This is with the aim to improve the impact that sport can have on the lives of young children, moulding them into better people for the future.

Since the business was set up, it has enjoyed good successes with seeking outside investment. As it stands, eight investors have put their money behind Heja and this has resulted in the team managing to raise a figure of $6.8 Million since being founded.

12. Beleco

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 11-50

Founders: Andrei Volgin, Marie Rudenstam, Pontus Gustafsson, Pontus Gustafsson, Sebastian Rudenstam

Beleco is a Swedish startup that was founded in 2016 and is currently headquartered in the capitol city, Stockholm. The company offers a furniture sharing service, which allows users to essentially rent furniture for either a short or long period of time. This is intended to reduce the amount of furniture being thrown away, which helps to create a more sustainable and healthy environment.

The company has seen good amount of success in terms of securing outside investment. This is evidenced by the fact that the company has received investment from four sources, with the total raised reaching $2.3 Million.

13. Tracklib

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 11-50

Founders: Anil Raj, Johan Wiström, Pia Philipsson, Pär Almqvist

Tracklib is a Swedish startup that was founded in 2014 and is currently based in Stockholm, Sweden. The company is providing a new service, which essentially takes the form of a record store with a range of songs which can be used by artists for their sampling needs. There are over 65,000 tracks- which represents a large amount of choice.

The company has seen some key successes with investors since being founded, with a group of six investors pledging their money to the business. This has allowed Tracklib to raise a figure of $20.9 Million to grow and develop the business further.

14. DigiExam

Year Founded: 2011

HQ: Stockholm, Sweden

Size: 11-50

Founders: Johan Hägglund, Nima Marefat

DigiExam is a Swedish startup that was founded in 2011 and is currently headquartered in Stockholm, Sweden. The company provides services for digital examinations, in a safe and reliable manner. This software has been shown to also help with school efficiency by cutting down on grading time by 50% for teachers- highlighting a platform that is beneficial for the schools and students.

DigiExam has seen a decent amount of startup funding since it was founded over a decade ago, so far, the company has received funding from a group of four investors. These four investors are the reason why the business has managed to raise a figure of $4.8 Million.

15. Flic

Year Founded: 2013

HQ: Stockholm, Sweden

Size: 1-10

Founders: Amir Sharifat, Joacim Westlund, Pranav Kosuri

Flic is a Swedish startup that was founded in 2013 and is currently based in Stockholm, Sweden. The company creates wireless smart buttons that provide physical shortcuts to tasks on a user's mobile device- these tasks can be preconfigured so that users can do things on the move.

Since Flic was founded, it has managed to attract the eyes of a number of investors. As it stands, the company has received investment from six sources. From these sources, the business has managed to raise a figure of $1.1 Million.

16. Grace Health

Year Founded: 2017

HQ: Stockholm, Sweden

Size: 11-50

Founders: Estelle Westling, Therese Mannheimer

Grace Health is a Swedish startup that was founded in 2017 and is currently based in Stockholm, Sweden. The company offers a digital health clinic, designed specifically for women. This is achieved through a specialised chatbot and the platform currently has more than 800,000 women who are managing and tracking their health using the platform.

The business has made a number of investors take notice in the nearly five years that it has been trading. This has led to eight investors backing the company in its mission, with a total of $2.4 Million being raised to further develop the business.

17. Lysa

Year Founded: 2015

HQ: Stockholm, Sweden

Size: 11-50

Founders: Emilie Andersson, Henrik Littecke, Patrik Adamson

Lysa is a startup in Sweden that was founded in 2015 and is currently based in the capital of the country. The company provides a digital portfolio management service to help users make the most of their money. The platform automatically invests money for the user, with low fees so that they can increase their wealth.

Since the business was founded in 2015, it has managed to secure a good amount of startup funding. As it stands, the company has raised 40 Million Swedish Krona. This was achieved during a funding round in 2018.

18. Mondido

Year Founded: 2014

HQ: Stockholm, Sweden

Size: 1-10

Founders: Annika Manns, Robert Pohl

Mondido is a Swedish startup that was founded in 2014 and is currently headquartered in Stockholm, Sweden. The company provinces a payment service, which aims to increase the conversation rates achieved by online merchants. This is achieved through smart features to create sales.

The business has managed to successfully attract outside investment for growth and development, with five investors putting their money behind the company. This has led to Mondido raising a figure of $1.1 Million since it was founded.

19. Firstvet

Year Founded: 2016

HQ: Stockholm, Sweden

Size: 51-100

Founders: David Prien, Joakim Widigs, Lars-Martin Norviit

Firstvet is a startup in Sweden that was founded in 2016 and is currently based in Stockholm, Sweden. The company aims to make veterinary care more convenient for pet owners by offering video consultations with qualified vets, on-demand when the pet owner actually needs it. This speeds up the time it can take to get help.

Firstvet has seen massive successes in attracting outside investment since it was founded. This is evidenced by the fact that the company has managed to raise $96.4 Million in around six years. This was achieved by four investors across several funding rounds.

20. Lexplore

Year Founded: 2015

HQ: Stockholm, Sweden

Size: 11-50

Founders: Fredrik Wetterhall

Lexplore is a Swedish startup that was founded in 2015 and is currently based in the biggest city in the country, Stockholm. The company has introduced a new and effective method for screening dyslexia in schools. This uses eye-tracking technology, along with artificial intelligence. This can vastly decrease the time taken before a diagnosis can be given.

The company's mission to help children has endeared it to investors, with three deciding to put their money behind the business across three rounds of funding. This has allowed Lexplore to raise $12.7 Million in startup funding.

21. Goodbye Kansas Group

Year Founded: 2015

HQ: Stockholm, Sweden

Size: 11-50

Founders: Axel Ljung, Kenneth Haggmark, Magnus Granqvist, Per Grana

Goodbye Kansas Group is a Swedish startup that was founded in 2015 and is currently based in Stockholm, Sweden. The company provides solutions for mobile gaming, enabled with Augmented and Virtual Reality technology.

Since the business was founded, it has been very active in the acquisitions market, completing four takeovers of other companies. Furthermore, Goodbye Kansas Group has received support from a single investor, which has helped the business to raise a figure of 55.4 Million Swedish Krona.


FAQs

How Many Startups Are There In Sweden?

Before the COVID-19 pandemic, there were around 10,000 startups in Sweden. The impact of the pandemic on these numbers is not currently completely clear.

How Much Investment Is There in Sweden?

Sweden is the biggest market for investment in Scandanavia and enjoys a healthy amount of investment, with 2021 showing results of $8 Billion.

What Are The Strongest Industries in Sweden?

Some of the strongest industries in Sweden are automotive, telecoms, pharmaceuticals, tech and more.

Top Swedish Startups to Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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