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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/

NEWS June 19, 2018

Magnus Hedberg, known from the TV success Lyxfällan, invests in the app YourPDi

From left: Patricia Ingemarsson, Magnus Hedberg, Jenny Wuori, YourPDi

 

From left: Patricia Ingemarsson, Magnus Hedberg, Jenny Wuori, YourPDi

YourPDi, Your Personal Digitalisation, is a new app that provides an easy, smart and safe way to get in control of, and store your valuable information and documents. Magnus Hedberg, known from TV3´s Lyxfällan, now joins YourPDi in order to expand the app to a broader audience.

The app Your PDi has been founded by Patricia Ingemarsson och Jenny Wuori with the vision to provide a way to easily handle personal documents and other important information. YourPDi offers its users a place for everything and everything in one place – including the receipt for the stolen bike, documents from the renovation, warranties, log-in codes for Netflix, family vaccinations and your homes color scheme.

The information is stored in the cloud and is protected by, among others, Swedish Baffin Bay Networks to prevent eventual cyber attacks.

Magnus Hedberg now joins YourPDi as the company´s ambassador.

– When I heard about YourPDi,  I immediately felt that this is something I want to be part of, says Magnus Hedberg. The app provides easy access to what I need, it doesn’t matter if it is tomorrow or in five years. I see daily in my work how beneficial it is for people to get in control of their documents.

Magnus Hedberg has own experienced of how convenient it is to store information digitally.

– I have super control of my documents, says Magnus Hedberg. Everything is sorted into the right binder and behind the right divider. However, as I don´t carry the binders with me all the time, sometimes I lack access to the information I need at the moment I need it. Yesterday for example, when my daughter was due for a vaccination, I realized her vaccination card was at home and I didn’t know what booster it was time for. A positive side effect of having your documents in order is that you save money. For example we got a new TV, when our old TV´s display gave up, two weeks before the warranty expired.

All information that you store on YourPDi is protected and encrypted in the cloud. No one but you can see what you store.

– So much has happened when it comes to digital safety, stresses Magnus Hedberg. My biggest problem now is what to do with all my empty binders. Not to mention the time I save when I store everything through my mobile, easily available everywhere via the cloud.

– We are very happy to have Magnus joining YourPDi, says Patricia Ingemarsson, co-founder. He is an advocate for order and control, exactly what YourPDi provides and he will be an important ambassador for our service.

For more information:
Jenny Wuori: jenny@yourpdi.se, 070-538 48 09
Patricia Ingemarsson: patricia@yourpdi.se, 073-525 52 05
www.yourpdi.com

YPDi AB has developed the app YourPDi for you who easily want to get in control of your valuable documents and other important information. The app was launched on App Store in May, 2018. An Android version will be available in July. You just scan your documents and simply place them in any of the many pre-defined categories. Everything organized and in one place – safely stored in the cloud. Easy to find – when you need it the most.

NEWS May 16, 2018

Positive opening message at Sting Day: the Sting companies’ revenues increased 40 % 2017

 

The Sting companies’ aggregated revenues increased by more than 40% in 2017 and the aggregated company valuation was doubled to now exceed 10 billion SEK. These positive figures are presented today when the the leading startup ecosystem in the Nordics, Sting, publishes its annual figures at Sting Day.

Sting Day today gathers 400 personally invited guests at Sweden’s most exclusive matchmaking event for startups and investors. 170 investors from 15 countries will be present to meet with a large number of carefully selected startups. The theme for this year’s event is sales and growth.

As a part Pär Hedberg’s introduction speech, a summary of the Sting companies’ performance during 2017 is presented.

“The figures we present here today speak their clear language, the Sting companies  contribute with jobs and export revenues to Sweden,” says Pär Hedberg. We are especially pleased that the companies’ sales growth is strong and we view the doubled company valuation as a receipt that external investors also appreciate the potential of these companies.”

Some key figures 2017 (2016 in parentheses) *:
Aggregated sales: 2.11 billion kronor (1.47 billion)
of which export revenues: 1.50 billion kronor (1.17 billion)
Number of employees: 1819 (1532)
Gender distribution in the companies: 26 % women / 74 % men
Private capital invested in the companies: 752 million kronor (649 million kronor)
Public financing attracted to the companies: 126 million kronor (209 million kronor)
Aggregated company valuation: 10.2 billion kronor (5.1 billion kronor)
* The figures are based on the 240 companies (of which 168 are active today) accepted to Sting from the start in 2002 until the end of 2017/2018.

“An area where we see improvement potential is the gender balance in our companies. The tech industry is still dominated by men, and we see that we have an important role to play in order for more women to choose work in startups. Our ambition is that at least 50% of the companies accepted to any of Sting’s programs should have at least one female founder. We also have good opportunities to contribute to the recruitment of more women through our own recruitment service,” says Pär Hedberg.

During Sting Day, the audience will listen to experienced entrepreneurs and investors who reflect on the subject of the day. About 55 of Sweden’s most promising startups present their solutions in an exhibition and entrepreneurs and investors can book “speed meetings” via a digital platform, with the aim of providing an opportunity to establish a first contact that can eventually lead to long-term relationships. Among the speakers are Niklas Adalberth, founder of Norrsken and co-founder of Klarna, Stina Ehrensvärd, founder of Yubico, Wendy Tan White, founder of Moonfruit and Hanna Meiton, Chief Growth Officer at Soundtrack your Brand.

For more information
Maria Ljungberg, Communications Manager at Sting, 0708-36 22 31, maria.ljungberg@sting.co

NEWS May 8, 2018

Orexplore behind Swedish digital breakthrough in the mining industry –

The Swedish-Australian company Orexplore has launched the world’s first fully-featured digital drilling cores laboratory – the GeoCore X10. The product, which won a Red Dot Industrial Design Award in 2017, analyzes the element concentrations and minerals contained in a drill core, as well as provides a visualization of the rock’s internal structure in 3D. What previously took weeks of expensive chemical laboratory analysis can now be done while drilling, which will revolutionize both ore exploration and mining.

With Orexplore’s innovative equipment, the world’s geologists get a new and exciting tool for finding ore deposits as well as streamlining existing mines. The opportunity to take a drill core, and immediately see what it contains, is completely groundbreaking. By visually looking at the structure of the rock, geologists can form an idea of how the bedrock has been transformed over time, how minerals are distributed and how valuable the ore body really is.

“In Sweden, we have hundreds of years of mining experience in addition to our skills in technology and IT. With this history, it is perhaps not so strange that the GeoCore X10 was created right here, says Kevin Rebenius, CEO and founder of Orexplore. The entire mining industry, a somewhat conservative industry, is now facing a revolution in digitalization and the use of IT. And Sweden is the country leading the transformation.”

GeoCore X10 is the result of over 20 years of X-ray research, algorithm development and sensor technology. Despite the advanced technology, the goal has been to design a product that is so simple that it can be used by anyone. Moreover, the measurement is non-destructive, which means that you do not need to prepare the drill cores beforehand.

The digital data produced with the equipment can be analyzed by a geologist at the site or on the other side of the globe. By examining multiple drill cores from different holes and different depths, geologists can form an idea of how the bedrock underneath our feet looks and what it contains.

GeoCore X10 is first launched in Australia, in collaboration with the Swick Mining Services Group, and globally later this year.

Orexplore participated in Sting’s incubator program during 2010-2011.

For more information, please contact:
Kevin Rebenius | CEO, ‭+46 70-795 99 84‬, kevin.rebenius@orexplore.com

NEWS May 7, 2018

Friendship app GoFrendly raises 3 MSEK

Julia Sporre, CTO, Claudia Gård, CEO and Ulrika Lilja, COO. Photo Simon Hellsten

GoFrendly, an app that offers women of all ages an opportunity to create new friendships through accurate and secure matching, has closed an investment round of 3 MSEK. Among the investors are the founder of Apotea, Pär Svärdson, and the former Klarna Manager, Louise Samet. The company will now expand and develop the product further.

The founder team behind GoFrendly, Claudia Gård and Ulrika Lilja, got the idea of ​​the company through their own need to meet new friends. The friendship app targeted exclusively towards women was launched in October 2016. The timing for a social platform where women can meet new friends has proven to be perfect.

“We see a huge need in a market with few players. Now it’s all about running fast and that’s exactly what we’re going to do with the capital injection. We will develop the platform to create more physical meetings and a premium service is also close in time, explains CEO and co-founder Claudia Gård.

The interest in investing in GoFrendly has been great and the team has had to say no to investors. Among the investors are the founder of Apotea, Pär Svärdson, JNE Invest, angel investors like former Klarna Group Product Manager, Louise Samet, and many others. In addition to capital, the investors also contribute with skills and networks, which is invaluable to the team.

“It’s wonderful to see that so many believes in the potential of GoFrendly and are ready to invest,” says founder Ulrika Lilja.

GoFrendly has users between 18 and 82 years and is used extensively around Sweden. GoFrendly has also launched in Oslo with successful results. Today, the app is free and that has been important in order to attract early users. Revenues so far come from ads and partnerships.

“Our goal of the app is to create physical meetings. Being able to offer our users events with partners has proved to be a winning concept. Many brands want to reach a large female audience, both digitally and physically, and we can offer a comprehensive solution,” Ulrika continues.

“We are proud to address the problem of finding new friends and we already know that our service has changed people’s lives – our goal is to make the world a less lonely place,” concludes Claudia.

More info
Claudia Gård, CEO and co-founder, claudia@gofrendly.com, 070-710 45 56
www.gofrendly.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/

NEWS January 9, 2018

Sting co-founds the new venture fund Luminar Ventures together with successful business angels

Jacob Key, Founding Partner of Luminar Ventures together with Pär Hedberg, CEO of Sting.

Luminar Ventures today announces a 500 MSEK fund focusing on seed stage technology companies in Sweden. Luminar Ventures has been initiated and co-founded by Sting and and the successful angel investors Magnus Bergman and Jacob Key, who will be the fund’s General Partners.

Luminars’s core investment focus is on scalable digital seed stage companies from Sweden, founded by highly motivated and talented entrepreneurs with a vision to disrupt or transform major industries. The fund is looking to lead larger seed rounds through an average investment of around 10 MSEK, but will also do pre-seed and series A investments.

Founding partners, Magnus Bergman and Jacob Key are both former serial entrepreneurs and active angel investors. Over the last 10 years, Magnus Bergman made over 30 seed investments with a handful of great exits, making Magnus one of the most experienced and successful tech angel investors in Sweden. “With a long background in working with startups we understand the challenges of building global companies. We founded Luminar to share our experience and bridge the gap between the angel and A-round with both financing and active professional support”, said Magnus Bergman, Founding Partner of Luminar Ventures, in a comment to the launch of the fund.

Before founding Luminar Ventures, Jacob Key made close to 20 early stage investments, with 3 successful exits to date. “We are delighted to get started with Luminar Ventures and are already in closed dialogue with a number of promising startups across Sweden. As former entrepreneurs and angel investors, our aim is to be more hands-on in the early growth stage than the general VC and to work closely with the founders of our portfolio companies”, comments Jacob Key, Founding Partner of Luminar Ventures.

Joining the team are also Linda Höglund and Daniel Karsberg. Linda has a background as global CFO at fast scaling unicorns, including Klarna in Europe and Grab in South East Asia. Daniel joins Luminar from his most recent role as Investment Manager at Creathor Venture, where he led Creathor’s Nordic operations.

Sting, the leading startup ecosystem builder in Sweden and operator of one of the most established accelerator programs in the Nordics, is one of the co-founders of Luminar Ventures.

“The initiative to start Luminar Ventures is part of our mission to contribute to a world class eco system for technology startups in Stockholm and Sweden”, comments Pär Hedberg, CEO of Sting. “Luminar is a potential investor in the Sting companies, as well as a potential follow-on investor to the portfolio companies in our Propel Capital. It is however important to note that Sting does not have any exclusivity with the fund and we will of course, as always, encourage the Sting companies to evaluate all relevant financing options, Pär Hedberg continues.

The fund also has a strategic partnership with KTH Holding, which is the holding company of the KTH Royal Institute of Technology – one of the leading technical and engineering universities in Europe. Sting and KTH Holding are both minority owners of the holding company of the fund. They support the fund with a strong deal flow and access to their respective innovation systems and networks. Luminar Ventures has also built an active network of partners throughout Sweden and within several industry verticals to ensure a high and qualitative flow of investment opportunities.

Major investors in Luminar Ventures are the European Investment Fund, through the Strategic Venture Initiative, Saminvest and a number of professional private investors and institutions.

About Sting
Since 2002, Sting has supported entrepreneurs to develop their business ideas into successful growth companies. Sting offers selected tech startups financing (via Propel Capital and the Sting Business Angels network), business development support, recruitment support and provides access to world-class networks as well as office space at co-working spaces like SUP46 and THINGS. Sting has supported over 200 startups since the start, of which 68 percent continue to grow today.
www.sting.co

About Luminar
Luminar is a Swedish based venture capital fund focused on early stage startups with global scale and ambitions. Founded by experienced entrepreneurs and angel investors Magnus Bergman and Jacob Key, Luminar provides early stage capital, network and hands-on company-building support to leading startup teams throughout Sweden helping them build the next global success stories.
www.luminarventures.com

About The Swedish Venture Initiative
The Swedish Venture Initiative is an initiative created by cooperation between Sweden and the European Investment Fund and financed under European Structural and Investment Funds.
www.eif.org

About Saminvest AB

Saminvest AB is a Swedish government owned company that invests in privately operated venture capital funds, with a focus on Swedish based investments.
www.saminvest.se