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NEWS February 11, 2019

List: The 14 new companies selected by Sting

An automatic anti-money laundering process, sustainable modular houses, safer medical tubes, programmable accessories and new financing solutions for companies – these are some of the products and services that the 14 innovative companies in the spring’s round of Sting Incubate and Sting Accelerate represent. The list of companies is announced today when the entrepreneurs meet for the first time in Sting’s offices at A house.

– It is an exciting range of innovative solutions among this group of very strong companies in B2B and B2C this time. We see interesting trends in the fintech area, where several of the companies are active, says Fredrik Rosengren, program manager for Sting Accelerate.

The companies that are admitted to Sting can get an investment of SEK 300,000 from Propel Capital, Sweden’s most active private seed investor. In addition to the actual investment, the companies also get direct access to the 40 business angels behind Propel Capital, as well as their networks.

In addition, the companies receive individual coaching in business development and financing, support in recruitment, and access to Sting’s broad international network of industrial contacts and investors. They also get free office space for six months at A house, which provides a strong community with each other and the Sting team.

Since the start in 2002, Sting has coached over 240 startups. In 2017, the companies had sales of over SEK 2.1 billion and have attracted close to SEK 4.5 billion in private capital. Sting’s alumni include companies such as BarnebysBioservoDPOrganizerKarma, Videoplaza, Volumental and Yubico.

One of the companies in this spring batch is ImagiLabs. They build a community and tools to teach more young girls to program.

– Coming from technical backgrounds, we applied to Sting to get the support and expertise we need from the business side. It was a natural choice to choose Sting because of their long experience and great track record. We are very much looking forward to working with our coaches and bringing more girls into tech, says Alexa Edström, head of marketing and communications at ImagiLabs.

The team behind Prion has developed a platform for kindergartens that lets teachers easily document children’s activities using pictures, texts and videos.

– With Sting’s help, we look forward to being able to scale our company faster. Their large network can support us in attracting both talent and capital, which will be relevant for us. We are also looking forward to taking advantage of Sting’s experienced coaches as well as other companies’ knowledge, says Fredrika Bernadotte, CEO of Prion.

The companies chosen by Sting are:

Cardia is a mobile application that offers a safer way to privately buy and sell used cars. All cars are tested at impartial car inspection stations to remove the risk of hidden errors. Through the application, users gain access to finance, warranty and insurance companies in the private market. For increased security, payment and change of ownership take place in the application. www.cardia.eu

Casablnca is a CRM system (SAAS) invented and designed for companies working with influencer marketing. The system collects, stores and evaluates all data in one place, which automates a huge part of the manual work load, allowing companies to focus on the two most important components within influencer marketing – communication and growth. www.casablnca.com

Creditive provides automated lending services to better serve SMEs. Creditive’s lending software pulls from real-time data points making the credit process more efficient, secure and fair. Powered by Big Data and AI-underwriting technology, Creditive’s core aim is to increase loan approvals, equipping SMEs with the working capital they need to grow. www.creditive.se

The Fit develops mobile 3D body scanning technology providing users with digital Body-ID:s that can be used to shop for the right size, order customized products or virtually try on clothes. By combining 3D scanning and artificial intelligence, The Fit change the online experience of the future. Helping companies reduce returns by enabling personalized recommendations for consumers. www.thefit.se

At FLOAT, we are pioneers of Capital-as-a-Service (CaaS) – providing small SaaS businesses with fast, easy access to founder-friendly, non-dilutive growth capital. www.floatlending.com

Gimme Shelter aims to make architecture accessible to the masses. With unique, environmentally friendly and affordable housing solutions that can be combined, Gimme Shelter wants to help people to live and build according to their need and their wallet. Together with Sweden’s most acclaimed pioneers in environment and sustainability, Gimme Shelter is building Northern Europe’s first turnkey house that is run on fossil-free fuels. www.gimme-shelter.se

Harvest Moon develops a toilet that separates and converts the waste into plant nutrients. The volume is reduced by 90 percent, thereby making it easy to empty and transport the waste. The company’s first customers are Scandinavian vacation home owners who want aesthetic environmentally-friendly toilets that are hygienic and easy to handle. The next step is the global market where the need for waterless toilet solutions is enormous. www.harvestmoon.se

imagiLabs is building a community and tools to teach programming to girls between 12-16. They spark their interest with the ultimate accessories that can be customized through programming from their mobile phones – this way bringing self-expression, creativity, and mobile phones to the center of the experience. By enabling girls to take their first steps into the world of programming, they can be part of the first generation of a gender-equal tech workforce. www.imagilabs.se

Mendi is the world’s first brain enhancement device for home use. Mendi’s technology is successfully being used by NASA and in research to enhance the brain’s functions and capacity by over 50 percent. The company is now making it accessible for everyone to use. Mendi is for those who want to improve their mental well-being, performance and overall health. www.mendi.io

PCT is a user-friendly cloud solution designed to help organisations minimize time spent on keeping track of, following up and planning recurring tasks. The intuitive dashboard allows quick and easy setup while giving users access to audit trail functionality and powerful reporting otherwise only found in more complex systems. www.productivesolutions.se

Pliance helps companies automate their anti-money laundering processes through a powerful, flexible API that helps companies build customer screenings into their current tools and workflows. This allows companies to scale their businesses by saving them time and money that can be focused on their core product. Even smaller companies can save millions of Swedish crownes by eliminating the manual customer screenings and using Pliance’s API instead. https://pliance.io

Prion is a platform for kindergartens. Via the Prion app, teachers can easily document the children’s activities using pictures, texts and videos and make connections to the goals in the curriculum. Parents can follow their own child’s learning on a daily basis. Prion enables teachers to reduce the time spent on administration, parents to become more involved in their child’s development and further strengthen the relationship between teachers and parents. www.prionapp.com

Renbloc is a comprehensive and transparent solution for tracing and verifying sources of energy. Customers can easily keep track of when, where and how their energy is produced. Bringing purchasing power to the energy market, the conscious consumer will for the first time be able voice their energy opinion by directly and transparently choosing the origin of their energy. www.renbloc.com

TADA Medical solves the enormous, global need for safer medical tubes by eliminating negative consequences, such as patient injury, related to accidents where a tube is pulled during treatment. We are pioneering a new global standard for safer medical tubes. www.tadamedical.com

 

NEWS December 20, 2018

Cyber security company Defentry raises 3.6 MSEK

The Defentry team

The Defentry team

Defentry  helps companies control their data and coach people to become cyber security experts using AI. During the fall, the company has closed a funding round of around 3.6 MSEK from, among others, the private investor John Fällström, to further expand the business.

Defentry has had strong growth in the last quarter and signed agreements with market-leading partners. The company has also joined forces with two of the world’s foremost white hackers, Dan Egerstad and Adam Ljungrell, and bought one of the world’s largest databases of leaked information.

“Both private individuals and companies are increasingly aware of the importance of cyber security. That companies should do everything in their power to protect their data is a no brainer, companies that do not prioritize this issue will die quickly,” says Christer Hernestig, founder of Defentry.

In addition to John Fällström, the investors Malin Sjöstrand (Scriin), Per Vasilis, Jonas Brunius and Gerhard Dal also participate in the 3.6 MSEK funding round. The capital will be used to build the organization for Defentry’s growth journey. In the coming days, the company moves to new premises and several key people are joining the company.

“Cybersecurity is a hot topic and a matter for everyone, both companies and individuals. Defentry is the most exciting company in the market right now, that’s why I chose to invest in them,” says John Fällström, CEO, NV Capital.

About Defentry
Defentry helps companies control their data and coach people to become cyber security experts using AI. Using our technology, users can control their own data. We make sure your personal information remains yours. #BeYourOwnHero
www.defentry.com

More information
Gabriella Kepinski, PR, Defentry, gabriella@defentry.com

NEWS December 18, 2018

Care to Translate launches medical interpretation app to break language barriers globally

Care to Translate co-founders (from left): Martin Schalling, Annie Backman and Linus Kullänger

Care to Translate co-founders (from left): Martin Schalling, Annie Backman and Linus Kullänger

Care to Translate was launched one year ago and is already one of the most used translation tools in Swedish healthcare. The company has grown organically, and the app has over 22,000 users. Care to Translate is now launching its service to the European market. The goal is to help healthcare personnel and patients communicate across language barriers.

Care to Translate was founded in 2018 by a team of physicians and medical students who left the clinic to wholeheartedly devote their time and efforts to solve problems caused by the lack of interpreters in healthcare.

“The problem with language barriers in healthcare is serious and overlooked. Inability to communicate leads to additional costs for healthcare providers and a significant reduction in quality of care and patient safety. Additionally, insufficient translation makes patients feel insecure. These issues are what we seek to change,” says Linus Kullänger, CEO and co-founder.

Compared to other translation tools, such as Google Translate, Care to Translate delivers medically correct translations, providing secure communications between healthcare personnel and patients.

“In Sweden the need and demand for correct translations is huge. The fact that our service, in such a short period, has attracted so many users only through word of mouth is a clear sign that Care to Translate meets an important need. The need is in fact global. Therefore, it is a natural step to expand outside Sweden,” says Annie Backman, COO and co-founder. The first focus in Europe is the German and English speaking markets.

The new release of Care to Translate was improved via user feedback. It now has an increased capacity and can translate 500 medical phrases in over 20 languages. The interface has been developed with field specific categories and a search function, making it a lot more useful.

“We will be able to help many different healthcare professionals, including personnel in ambulances, emergency rooms, delivery and general wards to communicate. Soon, clinics will be able to distribute the service amongst all of their employees,” says Linus Kullänger.

“Today, a large group is exposed to poor care due to language barriers. It is common that children and other family members have to act as translators. Our goal is to make healthcare more equal and safe, both in Sweden and globally,” Linus Kullänger further states.

Contact
Linus Kullänger, co-founder and CEO, linus.kullanger@caretotranslate.com, +46 73-322 55 45

Care to Translate, is a company driven by medical students and physicians. Their app translates 500 different healthcare phrases in 20 different languages. The company’s vision is for healthcare personnel and patients to be able to communicate with each other regardless of language. It was founded by Linus Kullänger, CEO, and Professor Martin Schalling from Karolinska Institutet and Karolinska University Hospital with co-founder Annie Backman, MD and COO. The new service launched in December 2018 in EU. The plan is to launch in 10 additional language markets next year. www.caretotranslate.com

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 December 3, 2018

APPRL raises 2.2 MEUR and launches AI tool for content creators

APPRL is the leading Nordic platform for driving sales from premium content creators, i.e. to brands in the fashion, beauty and lifestyle sectors. Today is the launch of its new technology platform, which is focused on helping its partners using data. APPRL also announces having raised another 2.2 MEUR from some of its current investors.

The new platform enables brands to improve the ROI of their influencer marketing efforts and helps content creators to understand which type of products are best suited for their audience. Another key feature of the new platform is an AI-based tool for influencers & publishers providing personalized product recommendations from the millions of items on APPRL. The vision of APPRL is to build a global, data-driven platform for influencer-driven commerce.

“Today many companies only look at engagement rates when selecting which influencers to work with. However, this says very little about actual ROI as it can be manipulated and doesn’t indicate the followers’ purchasing power. We can help advertisers select influencers based on how good they are at generating sales, which can’t be faked”, says Gustav Gisseldahl, Cofounder & CMO

“We’re not a traditional influencer campaign platform, we are building infrastructure for influencers to drive sales and relevant awareness for brands, in real time and at global scale”, says Martin Landén, Cofounder & CEO

During the past year, APPRL has raised 2.2 MEUR from its current investors Spintop Ventures, Backstage Invest, and its angel investors Jonas Meerits (Happy Socks, Eleven/Nordic Feel), Magnus Sandberg (Google), Ludvig Linge (TAT), Jonas Dromberg (Inventure, Bloomberg) who provide deep experience from e-commerce, media and tech. In the past two years, the team has grown from 4 to 25 people and revenue by 500%. The new capital will be used for international expansion as well as continued investments in data science, to strengthen APPRL’s position as the data-driven solution in a world of influencer marketing that is more focused on engagement and awareness than creating sales and real ROI for brands.

For its international expansion, APPRL has strengthened the team with Rami Nihlawi as CCO and Cornelia Brantås as Director of Sales, both coming from Soundtrack Your Brand (Spotify for businesses) where they’ve built the global sales unit from start (as Managing Director Global Markets and Director of Sales respectively). Moreover, Fredrik Isaksson has joined as CFO (previously CFO at CMORE), and a number of data scientists have joined from companies like Klarna and iZettle.

“The vision of creating a unique, new form of marketing is what makes it exciting to join APPRL”, says Rami Nihlawi who has just joined the APPRL team as Chief Commercial Officer.

“It feels fantastic to have people like Rami, Cornelia and Fredrik joining us, they all bring experience from scaling tech companies within retail and media internationally, says Martin Landén”, Cofounder & CEO.

More information
Martin Landén, martin@apprl.com, Cofounder & CEO
Images → ​http://bit.ly/APPRL-Press 

About APPRL
APPRL, headquartered in Stockholm, is a data and technology platform for influencer-driven commerce, that connects brands like H&M, Net-a-Porter & Gucci with inspirational content from influencers such as Sofi Fahrman, Ebba von Sydow & Camilla Pihl and publishers such as Elle and Vogue. APPRL started with a focus on fashion, but today APPRL works with brands within beauty, home, design, sports, health and more verticals to come.

More about APPRL → http://apprl.comhttp://apprl.com/about

NEWS September 3, 2018

Here are the 14 new Sting companies

Democratization of artificial intelligence, micro lending on equal terms, speech synthesis, ID hijackings, crowd funding of music, leisure activities, language challenges in healthcare and interpretation of radiographs are some of the areas addressed by the 14 carefully selected companies that have been accepted to Sting this autumn. The list of companies is announced today when the entrepreneurs meet for the first time at Sting’s newly opened premises at A house.

“It has been a tough selection process leading up to the start of the autumn programs,” says Karin Ruiz, business coach at Sting. “It’s a strong line up of companies that represent a wide range of exciting business ideas. We see a clear trend in an increasing number of startups that utilize the power of artificial intelligence and deep learning to tackle major challenges related to for example safety, health and climate,” she continues.

In addition to office space at A house and the network with each other and the Sting team, the companies will get individual coaching in business development and financing, recruitment support and access to Sting’s wide network of industry contacts and investors. The companies also have the opportunity to get an investment of SEK 300,000 from Propel Capital, Sweden’s most active private seed investor.

“With our new premises at A house, we now have the opportunity to run the Incubate and Accelerate programs in one place, which we believe will contribute to an even stronger Sting Community and better opportunity for the startups to exchange experiences and networks with each other,” says Fredrik Rosengren, new Program Manager of the Sting Accelerate Program.

Poki Robotics is one of the new Sting Incubate companies. The company develops task-specific robots to help businesses become more efficient and sustainable.

“Our participation in the Sting Incubate program will give us a great opportunity to scale up Poki Robotics. We are looking forward to getting to know the network and being inspired by the other companies, as well as challenging ourselves. In the spring, the goal is to sell the first robots to customers in Sweden. A challenge for us will therefore be to further develop our product with limited time and resources,” says Fredrika Kringberg, co-founder at Poki Robotics.

Fairlo, one of the new Accelerate companies, challenges the micro loan market with its service that gives people the opportunity to solve an unexpected expense with a loan on equal terms.

“We launched Fairlo in April and got off for a good start. Now we want to use the momentum we have to accelerate into 2019, with the goal of making “Vardagslånet” the obvious choice for unexpected expenses. We hope that Sting, with its solid and proven models, will help us to identify the next-generation star developers, and that the network and experience in the organization will provide great support in the international expansion of our business,” says Jimmy Hanna, CEO and co-founder of Fairlo.

Sting has coached over 240 startups since the start in 2002. The companies had revenues of over 210 MEUR in 2017 and have attracted almost 450 MEUR in private capital. Stings alumni companies include companies like Barnebys, Bioservo, DPOrganizer, Karma, Videoplaza, Volumental and Yubico.

Companies selected to Sting Accelerate
Defentry is a cybersecurity company that combats ID hijackings and hacked accounts through the use of large data acquisition, AI and machine learning. Defentry supports its customers in anticipating risks and finding new solutions that prevent intrusion and fraud with the objective of making them less exposed on the internet. Defentry also offers a personal and secure platform for its customers to monitor its data, identity and integrity. www.defentry.com

Fairlo is a TechFin startup that launches a new era for small loans. With a system based on the latest technology, Fairlo offers people the opportunity to solve an unexpected expense with a small loan at equal terms. Whoever borrows from Fairlo owns the power and can at any time pay off the loan, change the amortization plan or change the due date, all in one click and free of charge. fairlo.se

Friendtivity provides leisure activities for school kids in a new way –at home, in small groups around an interest such as music, programming or something totally different and led by an employed friendtivity leader. Via the platform , parents can seamlessly find leaders, book and pay for the activity at a very competitive price.  friendtivity.se

Signe is a digital platform for crowdfunding of concerts. Organizers, artists and fans can easily create an event and start raising money for an upcoming concert. Signe allows fans to participate and influence who organizers should book, whilst minimizing risk for the organizer to lose money on the event. Signe.io

Språk i Vården develops a medical interpretation tool for healthcare providers that reduces healthcare costs and increases effectivity while it at the same time strengthens patient safety and integrity. Our tool is available as an application for smart devices and can be used by all healthcare professionals in a broad range of healthcare situations. www.sprakivarden.se

Ugglo is a multi-lingual audio book service for kids. We combine the picture book with the audio book to create a truly fun and captivating reading experience. Thousands of kids in Sweden improve their reading and language skills with Ugglo every day. www.ugglo.se

Zenia provides high converting E-Commerce marketing traffic to webstores, helping sellers to market their products organically and through paid posts by sharing – promoting – converting. www.zenia.ai

Companies selected to Sting Incubate
DeepMed’s
vision is to redefine how radiographs (x-ray images) are being used in orthopaedics by applying artificial intelligence for the use in x-ray interpretation. With our software, built on deep learning, we support radiologist and other healthcare-professionals in detecting and classifying orthopaedic radiographs in a more efficient and accurate way. deep-med.com

Greenlytics provides data science solutions for the power industry. Our vision is to harness the power of data to create a sustainable energy future. Our first product, WindMind, is a tool that, with the help of advanced analytics and artificial intelligence, creates ultra-accurate wind power forecasts, which enables wind power producers to lower imbalance costs, increase profitability of wind power and make wind power cheaper for the consumer. www.greenlytics.io

Kavalri Games emerged from the passion for creating qualitative equestrian games. We’re developing the mobile game Equestrian the Horse game – a game which lets the player build their equestrian career from the ground up. Our players are mostly girls with an equestrian interest, and they’re passionately supporting our development. equestrianthegame.com

PerceptiLabs is a Deep Learning company developing the software QuantumNet. With a vision of democratizing artificial intelligence, QuantumNet simplifies the creation and understanding of AI-models by removing the need of programming and deep mathematical knowledge. The programming is replaced with a simple drag & drop of building blocks where the user e.g. can go into each building block and see how the AI-model learns in real-time. www.perceptilabs.com

Poki Robotics develops task-specific autonomous robots to help companies become more efficient and sustainable. The products are based on a robotics platform that is adjustable to different needs and environments. Our first product is a smart, self-navigating robot that collects golf balls on golf ranges. We offer a technical solution that includes high accuracy local positioning together with intelligent software. www.pokirobotics.com

SciPro’s Thesis Management System is an online IT-support system for management and supervision of theses at bachelor, master and PhD education levels. It allows the entire thesis writing process to be managed in a clear and structured way.  It gives students a clear methodology, supervisors a channel to communicate with students and decrease their administrative workload and school administrators a total overview. www.sciproprojects.com

TorTalk creates text to speech applications for schools, universities and workplaces.
Our end users are people with dyslexia, ADHD and those who prefer to listen to their second language. TorTalk’s software removes barriers, help increase efficiency and reduce stress for users. tortalk.se

NEWS August 27, 2018

Launch of Block Block, the Nordic region’s first co-working space for blockchain

The start-up scene in Stockholm continues to boom. Gaming, Fintech, Foodtech and Blockchain are hot discussion topics at almost every event and business lunch in Stockholm. In order for Sweden to become a leader in the next digital revolution, Blockchain, the Nordic region’s first dedicated co-working space for block-chain companies, Block Block, is now opening in Stockholm.

At Linnegatan 89, Block Block is launching after the summer. Initiative takers are Cofound.it and Embassy House. Sting is also participating as a content partner. The aim is to gather various skills within Blockchain under one roof to build internationally competitive companies faster.

“We move into attractive premises on Linnégatan 89, where FOA laid the foundation for Swedish computer history in the 50’s. We will officially open the first of September but a few companies have already moved in”, says Anders Nilsson at Embassy House, one of the founders of Block Block.

“A comprehensive initiative is needed in this area and we want to take the lead. The purpose is to create a place that is open to everyone interested in Blockchain and those who want to learn more about the possibilities in this area, says Jens Frid at Cofound.it and continues: “The competence is here, as well as the curiosity to develop new solutions and companies. Now it is important to address the area and make sure that more people begin to build the new digital infrastructure.”

“We are passionate about helping these blockchain entrepreneurs, going from idea to reality quickly and efficiently. Together we with the founders of Block Block, we will run one of our programs, Test Drive, in the fall, with specific focus on early stage startups within blockchain and artificial intelligence. With the continued need for digital transition, new fast-paced companies are breaking ground,” says Jonas Lindqvist, business coach at Sting, who will lead the Test Drive Blockchain program.

About Cofound.it
At Cofound.it we match blockchain businesses with the essential resources for success. We believe that the global economy should be open to all entrepreneurs, no matter who they are or where they are from. In 2017 when we began our journey, we supported blockchain entrepreneurs to launch ICOs; we’ve now expanded our services to post-funding startups and have a full menu of resources from advisors, to investors to sector experts. Our services and tools offer the support needed to help turn today’s blockchain visions into tomorrow’s reality.

About Embassy House
Embassy House was launched in 2016 and offers start-ups and growth companies affordable office solutions in industry-focused co-working spaces. Since its inception, more than 100 companies have moved into Embassy and Linnégatan 89 is now house number 3.

About Sting
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. Together, all Sting companies have a turnover of over SEK 2.1 billion. In addition, they have created over 1800 jobs.

BlockBlock.co www.blockblock.co
Linnégatan 89 heyhey@blockblock.co
11523 Stockholm

NEWS August 23, 2018

Sting Bioeconomy to accelerate future growth companies within renewable product and services

Today, Sting Bioeconomy, a new cutting-edge incubator, is being launched to help develop innovations in forest-based bioeconomy and increase the number of fast growing companies in this area. Victor Isaksen, experienced entrepreneur and forest owner, becomes president of the newly-started Karlstad-based incubator.

The venture is a collaboration between the world-leading cluster of forest-based bioeconomic companies, Paper Province, Region Värmland, Karlstad Municipality and Sting, the Nordic region’s leading incubator for startups with high growth potential.

The new incubator will be based in Karlstad, with the aim of leveraging Värmland’s strong position within forest-based bioeconomics. Värmland is home to world-leading industry within this area with large companies like Rottneros and Nordic Paper, as well as the strong bioeconomic cluster Paper Province. Stockholm-based incubator Sting will also participate as a partner in the project, contributing its experience in developing high tech startups and its international network of investors and business contacts.

Victor Isaksen will take on the challenge to build Sting Bioeconomy. Victor has a background as an entrepreneur and as a forest owner, providing knowledge and experience that will be useful in his work. “I look forward to building Sting Bioeconomy into a world-leading ecosystem for young promising companies focusing on sustainable services and products based on renewable resources,” says Victor. “I also look forward to the cooperation with Sting, that is internationally recognized as one of the world’s best incubators with its proven working methods,” he continues.

Sting Bioeconomy welcomes startups from all over the country to its program and, with its base in Karlstad, will provide part of its offer virtually and with close connections to Stockholm. Promising startups with business ideas in areas such as bioenergy, new packaging solutions and optimization of forest and paper industry processes are expected to join the incubator. Business develop support, financing and internationalization will be important part of the new incubator’s offer to accepted startups.

Since the start of 2002, Sting has supported over 240 companies. The companies currently have aggregated revenues of over SEK 2.1 billion. Pär Hedberg, CEO and founder of Sting, commented on the collaboration:
“For us at Sting, this is the first time we put our name on a venture outside of Stockholm, and we are look forward to contributing our experience and our networks to Sting Bioeconomy with the aim of building an edge incubator that truly delivers value for promising startups within this important area. We are also very excited to cooperate with world-leading large companies and regional players in Värmland to make this initiative a success,” says Pär Hedberg.

Contact
Victor Isaksen, CEO Sting Bioeconomy, 070-636 93 25
Pär Hedberg, CEO Sting, 070-855 03 18

NEWS July 3, 2018

Propel Capital IV raises 8 MSEK from Saminvest and opens for matching of business angel investments

From left: Pär Hedberg (Sting), Peder Hasslev (Saminvest), Erik Wijnbladh (Saminvest), Jens Lundström (ABI) and Jeanette Andersson (Minc)

From left: Pär Hedberg (Sting), Peder Hasslev (Saminvest), Erik Wijnbladh (Saminvest), Jens Lundström (ABI) and Jeanette Andersson (Minc)

Propel Capital IV, founded by Sting, is one of three selected business angel companies that raises capital from Saminvest to improve the financing and growth opportunities for its incubator and accelerator companies. In addition to the 8 MSEK investment in Propel Capital IV, Saminvest undertakes to invest together with selected business angels when they make follow-on investments in Propel Capitals portfolio companies.

Propel Capital I – IV are business angel companies linked to Sting, the leading ecosystem in the Nordics for startups with high growth potential. Propel Capital allows business angels to become indirect shareholders in a large number of promising startups with a relatively small capital investment. The angels also have the opportunity to make direct investments in their favorite Propel Capital companies.

“Since the start in 2002, Sting has contributed to the development of a large number of interesting companies and built a network of experienced business angels. It was therefore natural for Saminvest to have Sting and Propel Capital as part of this first investment round in incubator-based business angel companies. We are now building on this structure and we look forward to taking the concept to other parts of the country,” comments Peter Hasslev, CEO of Saminvest.

Including the investment from Saminvest, Propel Capital IV, has raised more than 20 MSEK to invest in up to 40 companies. As a complement to the investment in Propel Capital, Saminvest will also match selected business angels’ continued investments in Propel Capitals portfolio companies.

“Propel Capital has so far funded over 70 startups in Stockholm. It has made us one of Sweden’s most active private investors with great reach among entrepreneurs and investors in early stages. Through the investment from Saminvest, we now have additional resources to help entrepreneurs to realize business ideas and build more growth companies in Sweden,” says Niclas Lilja, Chairman of Propel Capital.

Saminvest’s investment initiative initially involves investments in business angel companies linked to three incubators from north to south – Sting, Minc (Malmö) and the Arctic Business Incubator (Luleå), all participants in Vinnova‘s excellence program. The aim is that these investments will soon be followed by similar investments in business angel companies linked to incubators in other parts of the country. The management of both Propel Capital and Saminvest’s additional investments in Propel Capital companies are handled by Sting.

“Business angels play a key role in funding young growth companies. In this context, today’s launch of the matching initiative, where Saminvest will match selected business angels’ follow-on investments, is extra pleasing. Sweden now get a business angel investment booster corresponding to similar initiatives in many other parts of the world,” says Erik Wijnbladh, Head of Fund Investments in Saminvest.

For more information contact:
Peder Hasslev, CEO Saminvest, 076-117 31 70
Pär Hedberg, CEO Sting, 070-855 03 18

About Saminvest
Saminvest is a venture capital company, formed by the state in 2016. Saminvest is actively working on the creation of new venture capital funds (“VC”) with sufficient qualities and long-term ability to develop the Swedish venture capital market. This is done by identifying new teams with experience in developing successful companies that manage funds that have the potential to attract private capital. Together with other investors, Saminvest will invest in these new venture capital funds, which in turn become active owners of portfolio companies in future industries.

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 June 25, 2018

CaCharge secures 2.1 MEUR in funding to create a mass-market for electric cars

Kurt Högnelid, Chairman and Louise Kierkegaard, CEO, CaCharge

Kurt Högnelid, Chairman  and Louise Kierkegaard, CEO, CaCharge

The e-mobility company CaCharge is pleased to announce the completion of a 2.1 MEUR investment round from experienced investors to expand in Europe. CaCharge’s business model makes it profitable to invest in charging points while drivers benefit from a reasonable mileage rate.

The investors include Stefan Bengtsson of CSB Capital; Mikael Ahlstrom founder of Procuritas; Lars Appelstal, co-founder of Readsoft; Per-Uno Sandberg, co-founder of Skistar; Michael Obermayer, senior partner of McKinsey and chairman of energy storage company Nilar and Carl Hirsch, from property developer Industricentralen.
Carl Hirsch explains that CaCharge’s core business is about pricing, packaging and AI-based software.

Following the announcement, he commented:
“You only need to Google electric cars to understand that the main challenge is the charging infrastructure. The business model and mindset of CaCharge is spot on for me as a property developer. By using CaCharge, I can keep my tenants happy and create a new revenue stream, while my properties become more sustainable”.

CaCharge was founded in 2016 by three entrepreneurs; Kurt Hognelid, Louise Kierkegaard and Tomas Oquist. Together they embarked on a journey to develop a business model that underpins the electric car mass-market.

CEO of CaCharge, Louise Kierkegaard, believes that to make sustainable development scalable you need to generate economic profit. She said:
“CaCharge understands both the point of view of business and the driving and parking patterns of car drivers. Our aim is to create a society where your car is charged as easily as your mobile.”

The CaCharge technology charges the car where it is parked – at home or at work. By using an AI-based solution that effectively distributes electricity between cars, CaCharge can charge 50 cars at the same rate as a fast charging station.

Kurt Hognelid, Chairman of CaCharge, said:
”Being able to charge as many cars as possible, at the lowest possible cost, with available electrical capacity, will be crucial in the future”
CaCharge’s customers in Sweden include Fabege, Stena Fastigheter and Upplands Vasby municipality.

Media enquiries:
Louise Kierkegaard, CEO, CaCharge, louise@cacharge.com
Carl Hirsch, CEO, Industricentralen hirsch@industricentralen.se
www.cacharge.com/