Swedish Startup Space

The Swedish Startup Scene – A Beginner’s Guide

Written by on April 2

The Swedish (and Nordic) startup scene has received much international attention lately. People have asked whether Sweden is the best place to start a company, and it has been reported that Swedish startups are ‘outdoing our European rivals‘.

I thought I’d put together a little guide for our international readers looking to find out more about our stunning scene.

Well-known startups

Spotify
Undoubtedly one of Sweden’s top tech exports today – Spotify currently has roughly 20 million active users and has converted roughly 1/5th of those into paying customers. Spotify successfully navigated the treacherous music landscape and came out on top.

Wrapp
A newcomer, but one of Sweden’s most popular. Recently passed 1 million users and have struck deals with many of the world’s largest retailers.

Rebtel
Rebtel is the world’s second largest VoIP company and boasts 20 million customers. They have a goal to be the world’s leading mobile communications platform by 2014. Profitable since 2010, they are off to a good start.

King.com
King.com is one of the world’s most popular gaming companies – with 15 million daily players and currently the third largest game developer on Facebook (after Zynga and Microsoft).

Startups to watch

Virtusize
Virtusize are solving the problem of sizing in e-commerce – a seriously big problem I might add. We’ve written about Virtusize before, and with some significant partnerships here in Sweden – they look to be set for big things.

Tictail
Tictail have been called the “Tumblr for e-commerce” and want to make starting an online store as easy as starting a blog. To date they’ve been rather successful and the company announced recently they’d started 10,000 stores within 10 months.

Magine
Magine’s beta landing page hinted at a “new way to watch TV”. Read our review of Magine here.

Omnicloud
Omnicloud is a new application designed to make coding simple, fun and engaging. Omnicloud provides hosting, drag-n-drop publishing, easy code collaboration and Mac OSX integration. To me, it feels like Dropbox-simple web development.

Top VC firms

Northzone
First institutional investor in Spotify, Avito, Tobii, Videoplaza, Pricerunner.

Creandum
First institutional investor in Spotify, iZettle, Linas, Jays, Wrapp, Cint, 13th Labs, Vivino etc

Almi Invest
Invested in companies such as The Local, Bambuser, VideofyMe.

Atomico
Fund founded by Niklas Zennström (Skype). Investments include Rovio, Jawbone, Fab, Klarna and Skype.

Industrifonden
Swedish fund focusing on small and medium sized companies with International potential. Investments include Barnebys, Anfi Networks, Burt and Keybroker.

One Pingback/Trackback

  • Sheridan Tatsuno

    Coming from Silicon Valley and working in Stockholm, I was always struck by all the great science and technologies in Sweden, but the lack of marketing/sales, especially in global markets. I understand Swedes are shy and modest (like Japanese), but it hurts their sales and branding worldwide. You need to find and train more “Steve Jobs” types. To connect, you’re invited to join SVGN: https://www.facebook.com/groups/109971182359978/

    • http://twitter.com/creman4u Christer Edman

      Spot on Sheridan!

      • http://twitter.com/thestartupspace SwedishStartupSpace

        Thanks Sheridan – will join that now!

  • http://twitter.com/creman4u Christer Edman

    Great initiative James! I live in Stockholm working with social media and creativity and my oldest daughter is in Australia and working with sales.

    • http://twitter.com/thestartupspace SwedishStartupSpace

      Thanks Christer – appreciate the kind words! Would love to hear more about what you’re working with.

  • http://twitter.com/hilding Daniel Hilding

    Startups to watch: How about iZettle?

    • http://twitter.com/thestartupspace SwedishStartupSpace

      At some point, I left out plenty of awesome companies doing great things. iZettle are definitely one to watch and we’ve had them as our Startup of the week here – http://www.swedishstartupspace.com/2013/03/04/izettle/

  • http://twitter.com/prashantdang Prashant Dang

    Great Stuff James. You have very interesting things on your site!!

    • http://twitter.com/thestartupspace SwedishStartupSpace

      Thanks Prashant. Glad you find it interesting! Let me know what we can improve on!

  • Pingback: Swedish Startup Space: 2013 Review | Swedish Startup Space

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