Skip to content
StingSting Logotyp
NEWS December 13, 2018

23 million in extra investment capacity when Saminvest matches Propel Capital investors

Övre raden från vänster: Peder Hasslev (Saminvest), Erik Wijnbladh (Saminvest), Maria Ljungberg (Propel Capital). Nedre raden från vänster: Anna Ljungbergh, Lars Lindgren, Mattias Weinhandl, Anders Göransson och Boel Swartling.

Six business angels in Sting’s business angel company Propel Capital IV are the first in Sweden to get a co-investment agreement with Saminvest in an initiative where Saminvest undertakes to invest up to 23 MSEK together with the selected business angels when they make direct investments in Propel Capitals portfolio companies, as a complement to the business angels’ own investments for the same amount.

Propel Capital IV is a business angel company linked to Sting, the leading ecosystem for startups with high growth potential in the Nordic region. Propel Capital allows business angels to become indirect shareholders in a large number of promising startups. The angels also have the opportunity to make direct investments in their favourite Propel Capital companies. Saminvest has invested 8 MSEK in Propel Capital IV and, as a complement to this direct investment, Saminvest will now match the continued investments of selected business angels in Propel Capital IV’s portfolio companies.

“Our goal is to improve the growth opportunities for promising innovation companies until they become investment ready for major venture capital players,” says Peder Hasslev, CEO of Saminvest.

The selection criteria for getting a co-investment agreement include previous experience of making investments in startups, willingness and capacity to make investments going forward and that the business angel is judged to be an active and serious investor in companies she or he has backed. The six business angels who are the first to get a co-investment agreement are Lars Appelstål, Anders Göransson (via Soläng Invest), Lars Lindgren, Anna Ljungbergh, Boel Rydenå Swartling and Mattias Weinhandl.

“We are very happy that we are now live with the co-investment agreement and that our companies get even better financing opportunities. It is a highly qualified group of investors who are the pioneers in this important initiative and we hope that additional Propel Capital investors will eventually join the co-investment structure,” says Maria Ljungberg, Head of Investor Relations at Sting and Propel Capital.

Lars Lindgren is one of Sweden’s most seasoned business angels, with experience of more than 60 investments in unlisted companies. “With a co-investment agreement, a business angel can effectively double its investment volume, which will make the financing rounds less time-consuming for the entrepreneurs, thus providing for more time to what really builds value, that is, doing business,” says Lars.

Boel Rydenå Swartling, Investor and Entrepreneur, comments “It is very positive that Saminvest chooses to back business angels with the aim of contributing to the growth of young companies. With this agreement, I will be able to contribute my capital and expertise to more companies in the areas that I am passionate about, i.e. companies that have a positive impact on, for example, the environment, equality and integration,” says Boel.

“The business angels play a key role in the financial ecosystem. With this initiative, we strengthen the financing capacity of the angel investors and will in this way contribute to the growth of a number of startups,” says Erik Wijnbladh, Head of Fund Investments at Saminvest.

The management of both the investment in Propel Capital IV and Saminvest’s additional investments in Propel Capital IV companies is managed by Sting.

More information
Maria Ljungberg, Head of Investor Relations at Sting: maria.ljungberg@sting.co, 0708-36 22 31
Peder Hasslev, CEO Saminvest, peder.hasslev@saminvest.se
Erik Wijnbladh, Head of Fund Investments Saminvest: erik.wijnbladh@saminvest.se

About Saminvest
Saminvest is an investment company with the mission is to stimulate the innovation economy in Sweden by indirect investments. This implies that innovative and fast-growing companies will get improved access to both capital and active ownership. Saminvest invest together with national and international private investors on a pari passu basis and thereby increasing funding availability, risk-taking capability, investment expertise and network access. We primarily focus on emerging teams managing the venture capital and growth funds of tomorrow. Saminvest also holds two fully owned subsidiaries Fouriertransform AB and Inlandsinnovation AB.

About Sting and Propel Capital
Since 2002, Sting has helped entrepreneurs to develop their business ideas into successful growth companies. We offer startups financing, business development support and world-class networks. Sting has supported over 240 startups, of which 70 percent continue to grow and grow today. Together, all Sting companies have a turnover of over SEK 2.1 billion. In addition, they have created over 1800 jobs. Linked to Sting is Propel Capital, which since its inception in 2014 through Propel Capital I, II III and IV has invested nearly SEK 25 million in over 70 STING companies. The portfolio includes companies such as Sellpy, Signal Signal, DP Organizer, Elly Pistol, Sniph, Airinum and Sudio.

NEWS September 26, 2018

Healthtech company Learning to Sleep raises 3.3 MSEK

Learning to Sleep, a company that develops a digital CBT-based tool to help people with sleep problems, has raised 3.3 MSEK from Almi Invest, Alltrum, Proos Consulting and Malte Rohlin. The capital will be used to continue the company’s expansion, both in Sweden and internationally.

Learning to Sleep has developed the clinically validated digital treatment program Sov bättre, which treats people with persistent sleep problems. With Sov bättre, the patient receives an individualized 5-week treatment based on CBT, cognitive behavioral therapy and a personal sleep coach.

“More than half a million individuals seek care for sleep problems every year, only in Sweden. At the same time, waiting times for assistance through therapy are often long and the cost for society high. With Learning to Sleep’s evidence-based digital tools, more people can get help faster, at lower cost,” says Per Antonsson, Investment Manager at Almi Invest.

The fact that the tool is digital, proving its users with reminders to perform their tasks, gives greater compliance than other non-digital aids programs. So far, Learning to Sleep has treated over 1,000 patients in Sweden and 94 percent of them now have better sleep.

“We are very pleased to welcome Almi Invest as an investor in the company, now when we are preparing to take the next step in our journey. Almi Invest provides us not only with capital, but also a large network of investors and expertise in financing. Now we are looking forward to an exciting autumn and to contribute to a better health in Sweden and in the countries we are about to expand our business,” says Micael Gustafsson, CEO of Learning at Sleep.

The capital will be used to continue the establishment of the service on the Swedish market, primarily in primary care, and to start the preparations for the international launch.
Learning to Sleep is a Sting Incubate company.

For further information contact
Micael Gustafsson, CEO Learning at Sleep, tel +46 736 993 601, mail micael@learningtosleep.se

Per Antonsson, Investment Manager Almi Invest, tel +46 708 728 717, mail per.antonsson@almi.se

NEWS April 23, 2018

List: the five new companies in Sting Incubate

Today, Sting welcomes this year’s second batch of startups to the Sting Incubate program. The five new companies represent a wide range of solutions ranging from deep PC strategy games, a digital treatment method for people with sleep problems, innovative tools for digital receipts and personal administration to an AI based food market recommendation engine.

The new Sting companies will receive coaching in business development and financing, recruitment support and get access to Sting’s wide network of industry contacts and investors, to increase the pace of development, rapidly enter the market, and increase the chance of success. The companies also have the opportunity to get an investment of SEK 300,000 from Propel Capital, Sweden’s most active private seed investor.

One of the newly accepted companies is YourPDi, founded by Patricia Ingemarsson and Jenny Wuori, both with long careers in technology, market, sales and management behind them. Within the coming days, the company launches the YourPDi app, which gives its users a tool for organizing private valuable documents and information in one place, safely in the cloud.

“Although we have many years of developing companies behind us, we can see that we lack experience in some areas that are crucial for scaling a startup to a company of size,” says Jenny. “We therefore see that Sting’s unique network and business coaches with significant experience of entrepreneurship will speed up our pace of development. Now we are aiming for a successful launch of our app and are focusing on user traction, Patricia continues.

The five new Sting Incubate companies:

IQ Chef is a foodtech company that develops innovative solutions for the digital food market. The company’s recommendation engine, based on artificial intelligence and machine learning, gives IQ Chef’s partners in the food industry completely new opportunities to tailor and individualize their customer offerings. iqchef.com

Learning to Sleep has developed a digital, clinically validated, treatment method to help people with chronic sleep problems. So far, the company has treated over 900 people and 94 percent of patients get a lasting improvement in their sleep. learningtosleep.se/

Treeno creates a new digital communication channel between consumers and businesses by building an innovative service for digital receipts. Using Treenos service, consumers can easily get their digital receipts collected in one place as well as a unique insight into their spending habits. At the same time, Treeno contributes to a significant reduction in tree devastation and waste management that paper receipts result in today. www.treeno.se/

Warpzone Studios is founded by three game industry veterans. Our goal is to make deeply engaging strategy games for mainly PC. We will aim to create games with superior replayability and high quality, while keeping close contact with our players and encouraging user modifications and extensions. warpzonestudios.com/

YourPDi, Your Personal Digitalization, is the app where you quickly and safely organize and keep important information and valuable documents. YouPDi gives you everything from receipt of your stolen bike, documents from the kitchen renovation, log-in details for Netflix, family vaccinations to colour codes in your home. Everything organized in one place and safely stored in the cloud. www.yourpdi.com/