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NEWS October 21, 2022

TeraSi adds third co-founder, closes pre-seed round to drive development of 6G hardware for Earth and space 

TeraSi’s ultimate aim is to build a new technology platform to enable the future of wireless technology at scale. 

The TeraSi team: Adrian Gomez Torrent, James Campion and Bernhard Beuerle 

TeraSi, a Stockholm based deep tech startup developing hardware for 6G applications, has added Adrian Gomez Torrent as a third co-founder and closed its pre-seed funding round to drive the next stage of its technology and product development. TeraSi’s ultimate aim is to build a new technology platform to enable the future of wireless technology at scale. 

Adrian joins TeraSi from beyond gravity, a market leader in the satellite industry, bringing cutting-edge expertise in the areas of antenna technologies and RF hardware for space applications. Adrian also has insider knowledge of all levels of the TeraSi technology platform, having previously worked together with TeraSi’s founding team in academia. TeraSi’s expansion and on-going technology development is enabled by a new private equity funding round which includes notable angel investors and seasoned industry experts, pushing TeraSi’s network and in-house expertise to the next level. 

“When you aim to bring something totally new to the table you need the best of the best on-board. We knew Adrian was the only man for the job – smart, driven and just crazy enough to make this work. We can’t wait to ramp things up together. We’re also delighted to be supported by such a great set of investors in our mission to create a scalable hardware platform.” James Campion, Co-founder 

TeraSi’s pre-seed round comprises new investments from noted angel investors Fredrik Posse, Per Björklund and Stefan Lindeberg and Dominic Davies and Andrew Stentiford (founding partners of Immetric Invest AB) as well as follow-on investments from KTH Holding and STING Holding. The funding allows TeraSi to continue industrialising their technology and start bringing new products to market, while also adding industry, IP and strategy know-how. 

“I am thrilled that Bernhard and James asked if I wanted to join as a third founder. The challenge of taking our technology from academia to the market is incredibly exciting. With my previous experience with this type of technology and in the space industry, my hopes are that I can take us one step closer to the goal of discovering the next revolution in wireless systems,” explains Adrian Gomez Torrent.

TeraSi was founded as a spin-off from KTH Royal Institute of Technology in 2020 by James Campion and Bernhard Beuerle to commercialise unique products developed during their PhD research, where they worked together with Adrian. TeraSi’s hardware offers improved performance at a greatly reduced size and weight, bringing maximum SWaP to demanding wireless applications above 60 GHz. TeraSi designs and manufactures its products in Stockholm and has a range of customers and partners in the test and measurement, space and wireless industry sectors. 

TeraSi is one of the companies in Sting Incubate Deeptech.

Contact: 

James Campion, jcampion@terasi.io 

NEWS September 9, 2022

Deeptech is trending as Sting kicks off 22 new startups 

Today 22 new startups begin their journey with Sting. As the founders gather for the kickoff at A-house, the trend is clear: the group of deeptech companies is bigger than ever before, and among them a large proportion are female founders and CEOs. 9 out of 10 startups with high-tech innovations have at least one female founder and 6 out of 10 deeptech startups have a female CEO.

“Together with many other players in the ecosystem, we have worked very hard to pull out quality companies within the deeptech sector for several years. Finally, we see the results of that effort! It is particularly exciting to see that, despite a common prejudice about leadership, so many talented women are proving expertise as owners and CEOs,” says Raoul Stubbe, who has coached deep tech companies at Sting since 2006.

“I’d say this is a direct result of very focused work coming for several directions; investors have shown an increasing interest in both high technology and female entrepreneurs. Big influencing partners such as Vinnova and KTH have long worked strategically to bring on more women, and here at Sting, we set the goal of improving the gender balance in our founding teams in 2017. It is incredibly inspiring to have succeeded in that ambition, uniting so many talented women in the same program,” proceeds Raoul.

This year, the quality of the applications has been so impressive, Sting decided to take on more companies than usual. Nevertheless, fewer than 15% have been accepted to the fall 22 programs.

One of the 22 startups is CelluXtreme, which makes composite materials from bio-based, renewable raw materials.

“Our vision is to provide the world with a unique material concept, based on super strong fibers from nanocellulose. We have amazing research results and through Sting Incubate Deep tech we hope to get access to the expertise and network we need to develop a high-tech company,” said Anna Wiberg, CEO and co-founder of CelluXtreme.

Another startup joining Sting this fall is Mycomine, which develops biological treatment plants where fungi break down pollutants such as oils, diesel and plastics and turn them into biomass.

“We are in an intense phase right now, where we are scaling operations from a laboratory phase, in order to meet the needs of the market. We look forward to, together with Sting, sharpening our business model, to reach established industries with a new, innovative way of thinking,” said Magnus Ivarsson, CEO and co-founder of Mycomine.

CUBO has developed a solution for storing data in DNA.

“The amount of data generated in the world keeps on growing. The way we currently store data is not only very energy draining, and it is about to reach its physical limits. DNA is among the most information-dense molecules on our planet, it is extremely stable and requires very little energy to maintain. We at CUBO look forward to, with the help of Sting, taking steps forward in order to introduce the world to data stored in DNA,” saidCynthia Perez Estrada, co-founder of CUBO.

The following 22 companies have been selected for Sting’s fall program starting this week:

Alwy

A digital financial advisor that, by the use of AI, helps consumers take control of their finances. The Alwy app compiles the finances and provides personal insights, advice and savings tips.

Beskow von Post

A bridge between waste and recycling of textiles. Beskow von Post gives textile waste new value through up-cycling and design and thus helps companies into the circular economy.

BrainZell

Lab-grown mini-brains for safer pharmaceuticals. BrainZell uses stem cell-based models that match the human brain better than that of animals. In this way, the pharmaceutical industry can test 100 times more molecules and at the same time reduce the testing on live animals.

CelluXtreme

Composite material from bio-based, renewable raw material. CelluXtreme’s unique technology spins strong fibers from 100% cellulose. The material is bio-based, renewable and produced in a water-based process using green chemistry.

CelluXtreme started at the Royal Institute of Technology with support from KTH Innovation.

DTR1

A software solution that makes it possible to expand the capacity of grid equipment and provides a greater flexibility in operation and planning. DTR1’s solution helps improve network utilization by up to 20% and can potentially lower CAPEX for new installations by up to 40%.

DTR1 started at the Royal Institute of Technology with support from KTH Innovation.

CUBO

Stores digital data in DNA. The world is approaching its physical limits for data storage, while data is being produced at an ever-increasing pace. CUBO has developed a way to store data in DNA, an opportunity to store incredibly large amounts of data, safely and sustainably.

FACING IT 

An AI-powered app that helps the user overcome fear and social anxiety. FACING IT identifies user behavior and teaches evidence-based strategies to break patterns in order to live a richer life.

FarmUp

An app that makes it easy to buy and sell locally produced food. FarmUp connects food producers directly with the end consumer. By removingdistributors within the supply chain, FarmUp helps producers become more profitable and at the same time makes it easier for consumers, restaurants and grocery stores.

Forkcast

AI-based restaurant planning for more sustainable and profitable operations. Forkcast helps restaurant managers plan better to avoid food waste, costly misstaffing and late schedule changes. This with tailored sales forecasts using AI.

Gordian

Data-driven decision support for cost-effective and future-proof transport electrification. Gordian provides charging point operators and logistics companies with tools for more optimized transport planning by analyzing millions of movement patterns.

Gordian started at the Royal Institute of Technology with support from KTH Innovation.

Mycomine

Sustainable solution for breaking down chemical waste such as oils. Mycomine offers MycoCube, a portable, biological cleaning device in which the active ingredient is microscopic fungus.

Myreload

An app that enables private individuals and companies to rent out their existing charging points for electric cars. Reload’s platform aims to become the world’s largest sharing network of public charging points.

Nock

The digital office of the future for hybrid workplaces. Nock captures the elements of the physical office that many miss when working remote, such as ad hoc communication and the sense of belonging. This transparent platform makes it possible to see when coworkers are interacting or events occur, that one may want to participate in.

OrganAise

The digital assistant of the future that guarantees user privacy. OrganAIse helps the user structure their life, both professionally and privately.

Ovulai

The first medical app to relieve chronic, gynecological conditions such as PCOS. Ovulai’s digital, evidence-based health program helps women manage gynecological problems and prevent subsequent diseases.

Ovulai started at the Royal Institute of Technology with support from KTH Innovation.

Parently

Children’s products as a subscription service. Parently is a circular platform where parents can rent children’s products. Parently takes care of delivery, insurance, return and reconditioning and then sends the products on to the next sustainable family.

Rebelwork

Makes self-employment simple.

Rebel Work simplifies the process of starting and running a company. By helping with everything from administration to finding assignments. The Rebelworks app helps customers visualize and optimize financial aspects the entrepreneur’s needs.

reCRQL

SaaS platform for the next generation of circular retail. With reCRQL, traders can operate their own trusted and data-rich secondary marketplace without having to develop their own platform.

Scriin

Smart technology to activate children and young adults in order to help find balance in a digital world. SCRIIN develops products for schools, companies and families, that inspire more physical activity and healthy digital habits.

Silo Team

Silo Team is a Technical Documentation and Developer Onboarding platform.

Sum Health

A community that, with the help of AI and NLP, can help patients share experiences and find the right diagnosis faster. Sum Health uses modern text processing on patients’ health stories to help our healthcare system gain insights and become more patient-centric.

UTI lizer

A new cost-effective, and patient-friendly way to diagnose UTI’s (urinary tract infection) that counteracts the increase in antibiotic resistance. Utilizer has developed a test for urinary tract infection that can be performed within the primary care, without having to be sent to laboratories, saving time and money, whilst ensuring that antibiotics are only used when necessary.

UTI-lizer started at the Royal Institute of Technology with support from KTH Innovation.

About Sting (Stockholm Innovation & Growth)

Announced The World’s Best Incubator/Accelerator in 2021, Sting helps entrepreneurs develop their business ideas into successful international growth companies with world-class business development support, recruitment, funding and networking. Sting has helped over 370 startups since 2002, 70 percent of which still continue to develop and grow.

Together, all Sting companies have a turnover of more than SEK 3.8 billion and they have combined created well over 3,400 jobs. The Sting companies have received more than SEK 9.9 billion in private capital.

Sting is also an active developer of the ecosystem in Sweden and co-founder of initiatives such as SUP46, THINGS, Ignite Sweden, Sweden Sustaintech Venture Day, Luminar Ventures and Propel Capital.

Sting alumni include: Yubico, Sellpy, Airmee, Surfcleaner, Midsummer, Worldfavor, Skrym and Karma, among others.

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NEWS August 10, 2022

Despite challenging investment times: Propel Capital VI succeeds to raise capital as planned

35 experienced business angels contribute SEK 15.5 million, matched by SEK 14.5 million from the anchor investor Saminvest, in Propel Capital’s latest addition Propel VI.

Alexandra Tsampikakisis one of the new angels in Propel VI

Propel Capital, Sweden’s most active private investor in tech companies, in collaboration with accelerator Sting, has since its start in 2014 invested in over 175 companies. Despite tough times on the stock exchange, interest was high, and Propel Capital VI was able to close as planned. Propel Capital invests in early-stage startups addressing important challenges especially within Sustaintech, Healthtech, Deeptech, and Digital innovation sectors.

One of Propel Capital’s success factors is the carefully selected composition of business angels. Out of the 35 investors in Propel VI, 24 have been in previous rounds of Propel, and 11 new angels have joined Propel VI

The venture capital company Saminvest is once again the anchor investor, which enables continuity and further strengthening of the ecosystem and business life in this region.

Another factor is the great follow-up investment activity from the angels and so far, over 50% of all Propel’s companies have attracted a follow-up investment from the business angels.

Alexandra Tsampikakis, the co-founder of Edtech company Ugglo, is one of the new investors.

“For me, as an entrepreneur myself and a Sting Alumni, it feels amazing to be able to support the next generation of growth companies through Propel. I am looking forward to being a part of the strong investor network that Propel offers”, said Alexandra Tsampikakis.

Another investor, Ludvig Linge, is also a board member of Propel Capital.

“Propel Capital is an incredible opportunity to gain exposure to a large number of exciting early-stage companies while also expanding my own network with other like-minded business angels. Furthermore, Propel Capital has proven that it is possible to generate returns for investors on the invested capital,” said Ludvig Linge.

Pär Hedberg CEO at Sting:

“It was incredibly important to close Propel VI, in a season where the rest of the world is on shaky ground. With such uncertain economic times, it feels good to be able to offer the companies in our programs an advanced investment as well as access to very interesting follow-up investors. It’s also very exciting that so many of our old propel angels together with anchor investor Saminvest, choose to join again. That, in combination with so many new exciting investors, is incredibly valuable to us. It’s a strong network, which is meaningful to our entrepreneurs to connect with.” More about Propel Capital: https://sting.co/investors/propel-capital/

About Saminvest

Saminvest is a venture capital company that invests indirectly and together with private capital. By investing in new funds managed by teams with sufficient qualities and a long-term perspective, Saminvest contributes to developing the Swedish venture capital market. In this way, Saminvest contributes to giving innovative and fast-growing companies access to both capital and ownership expertise. The efforts should lead to the development and renewal of Swedish business life.

More about Propel Capital: https://sting.co/investors/propel-capital/   

NEWS July 12, 2022

Changers Hub and Sting initiate a partnership to give young tech-entrepreneurs a chance to put their ideas to the test

Stockholm, July 11th 2022 – The innovation movement Changers Hub, together with leading Nordic accelerator Sting, are proud to announce that they will launch a program aiming to help young tech-entrepreneurs in their early stages, test their ideas and guide those first important steps in the direction of a successful business.

Changers Test Drive is a program where entrepreneurs between the ages of 16 and 29 who want to test their ideas and put them into practice, get support and tools in how to. Twelve carefully selected teams will be coached by the Sting coaches and participate in several workshops along the topics of ‘Test your idea + evaluate the result’, ‘How to attract consumers’, ‘Build a winning team’ and ‘Getting financed.’ 

“It’s incredibly meaningful, to get the chance to help young creatives take their ideas and put them into action. Our expertise is primarily in tech startups and pushing these smaller businesses to grow. Our competence and experience in combination with Changers Hub’s community will certainly be exciting to follow. I am excited to be part of this collaboration and cannot wait to see innovation flourish. – “ said Jonas Lindqvist, coach at Sting. 

“We continue to see a tremendous interest in tech innovation. We currently offer courses in front-end but this year we are extending that offer with the intention to support and help develop innovation in the early stage within tech.  Our community is sharp, and they are great problem-solvers and have great analyzing skills. As a community, it’s our responsibility to nurture that drive and create space and resources for these individuals. We are stoked to contribute to the ecosystem of innovation, and to do this in collaboration with Sting.” Said Neda Khezerian  at Changers Hub. 

The program is targeting members of the Changers Hub Community and is going to be a 6-week program, starting September 29th this year. 

Please submit your application no later than August 31st.  

Follow link to apply: 

https://www.changershub.se/academy-course/changers-test-drive/

About Changers Hub 

Changers Hub is an innovation lab, founded in Alby with the vision to democratize success amongst young adults. Today, Changers Hub has three locations; Alby, Kista and Hjällbo with over 1800 people in the network. Since started, young adults have been mentored in their entrepreneurship in the sub divisions, including tech, creative leading, cultural art and sports. Our way of working makes it possible for the young entrepreneur, through community to establish a strategy from idea to execution. It’s all based on an ecosystem equipping our members and cooperative members with rare competence, tools, inspirations, networking, and knowledge. 

About Sting 

Named the World’s Best Accelerator, Sting has helped build and expand startups since 2002. Access to experienced coaches, industry leaders and mentors, investment network, startup community and alumni are some of the benefits startups in the Sting program get to utilize once enrolled in the program. 

Sting has helped over 370 small startups grow into successful businesses since they started, Airmee, Sellpy, Karma, Yubiko and Sizzle just to mention a few.