Sweden, a nation with a rich history of innovation and entrepreneurship, has witnessed an incredible surge in the number of unicorns – privately held start-up companies valued at over $1 billion – in recent years. With the rapid growth of the Sweden economy and the rise of disruptive technologies, these 7 unicorn companies have become the driving force behind the nation’s rise as a global powerhouse.
So without any delay, let’s get started and discover the world of Sweden’s unicorn companies!
List of 7 Unicorns in Sweden
1. Klarna
A Swedish fintech company that provides online financial services, including payment solutions for online storefronts.
Company Details:
- Valuation: $45.60B
- Investors Name: Institutional Venture Partners, Sequoia Capital, General Atlantic
- City: Stockholm
- Industry: Fintech
- Total Funding Raised: $3.472B
- Founded Year: 2005
- Joined Unicorn Club: 12/12/2011
- Total Investors:
- Total Deal Terms: 13
- Website: https://www.klarna.com/
2. Northvolt
A Swedish battery manufacturing company that develops and produces sustainable lithium-ion batteries for electric vehicles.
Company Details:
- Valuation: $9.08B
- Investors Name: Vattenfall, Volkswagen Group, Goldman Sachs
- City: Stockholm
- Industry: Other
- Total Funding Raised: $6.162B
- Founded Year: 2016
- Joined Unicorn Club: 6/12/2019
- Total Investors:
- Total Deal Terms: 4
- Website: https://northvolt.com/
3. KRY
Swedish telemedicine company that provides remote consultations with healthcare professionals through an app
Company Details:
- Valuation: $2B
- Investors Name: Index Ventures, Creandum, Accel
- City: Stockholm
- Industry: Health
- Total Funding Raised: $570.99M
- Founded Year: 2014
- Joined Unicorn Club: 4/27/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.kry.se/
4. Einride
Swedish autonomous trucking company that develops and operates self-driving trucks for commercial transportation
Company Details:
- Valuation: $1.44B
- Investors Name: Temasek, BUILD Capital Partners, Northzone Ventures
- City: Stockholm
- Industry: Auto & transportation
- Total Funding Raised: $150.82M
- Founded Year: 2016
- Joined Unicorn Club: 12/31/2021
- Total Investors:
- Total Deal Terms: 4
- Website: https://www.einride.tech/
5. Epidemic Sound
Stockholm-based music platform offering royalty-free music for content creators
Company Details:
- Valuation: $1.40B
- Investors Name: EQT Partners, Blackstone
- City: Stockholm
- Industry: Internet software & services
- Total Funding Raised: $476.14M
- Founded Year: 2009
- Joined Unicorn Club: 3/11/2021
- Total Investors:
- Total Deal Terms: 6
- Website: https://www.epidemicsound.com/
6. Polarium
Swiss tech company providing AI-based software for insurance claim management
Company Details:
- Valuation: $1.00 B
- Investors Name: AMF Pensionsforsakring
- City: Kista
- Industry: Other
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 5/3/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.polarium.ai/
7. VOI
Swedish e-scooter sharing service operating in various European cities
Company Details:
- Valuation: $1B
- Investors Name: Vostok New Ventures, The Raine Group, Balderton Capital
- City: Stockholm
- Industry: Travel
- Total Funding Raised: $517.9M
- Founded Year: 2018
- Joined Unicorn Club: 12/21/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.voiscooters.com/
Conclusion
In conclusion, Sweden’s top 7 unicorns showcase the nation’s innovative power and economic growth. These companies are making a global impact and reshaping industries. Keep an eye on these trailblazers, as they continue to redefine success in the ever-evolving world of innovation.