Stockholm is home to nearly3,000 startups and scaleups, and counts 208 VC investors and 101,000 tech employees.
Some of those unicorns include the buy-now-pay-later fintech firmKlarna, lithium-ion battery developerNorthvolt, and e-mobility providerVoi.
It’s free, every week, in your inbox.
Stockholms fertile landscape reflects Swedens overall growth in thetechsector.
To get a closer look at the citys thriving ecosystem, were zooming in on six trailblazing localstartupsand scaleups.
For Exeger, Powerfoyles flexibility and customisable nature means the sky is the limit.
The scaleup envisions further applications for its technology in consumer electronics, IoT, and smart workplaces.
Sesamyalso operates in the digital media realm, but with a focus on news and magazine content.
And based on the companys data, consumers are willing to pay on average 2 per article.
Nevertheless, Sesamy is looking into expanding into other European countries as well.
In November, Sesamy raised 3.3 million during its second seed round, bring its total to 7.3 million.
And thats whatX Shoreset out to do.
X Shores vessels also feature smart boating capabilities, including overboard detection, navigation, and range estimate.
X Shore sells its boats in Europe and North America, which currently represents its bigger market.
For operators of multiple vessels, it also offers a Fleet Management System for connected X Shore boats.
The startup raised almost 50 million in its latestfundinground.
The scaleup develops, owns, and operates solar projects for businesses that want to switch to renewable energy.
First comes the fact that 70% of power worldwide is used by companies.
Some of its clients include Toyota, Swedbank, and trading company Bixia.
But the road to success has been no bed of roses.
People could not understand why we started the company when we did so, Overholm explains.
Siemiatkowski decided to build a company that solves this problem and foundedMilkywirein 2018.
But a year and a half ago we completely pivoted as a business.
Since then, the startup has been implementing a B2B2C business model.
Businesses can select organisations from five different causes, such as wildlife and climate transformation.
To facilitate that, Milkyware provides integrated tools that enable customers to contribute to the same causes.
The startup currently counts numerous partner companies, including Klarna, PANGAIA, and Footway.
To date, it has raised $25 million (23.5 million) in donations.
The timing couldnt be better for us, Siemiatkowski says.
Whats the secret to Stockholms success?
Stockholm has several unique and powerful ingredients that stimulate startup growth.
Were not keeping our success close to our chest.
Were rather sharing it with many, I think slightly more than in other parts of the world.
This has transcended our culture for millennia, Ihre notes.
But this doesnt mean that Swedens business sector is closed within itself.
On the contrary, Ekelin believes that creating international brands and companies is one of its biggest strengths.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
Also tagged with
