Dear friends,
Welcome to the Wellstreet Journal, our monthly round-up where we communicate Wellstreet’s key activities, portfolio updates and all things tech and investments we’ve read and want to share with you!
What's Up?
🔔Our portfolio company DanAds, the self-service advertising platform, announced its latest investment round of 45M SEK which was led by Wellstreet. DanAds has experienced 125% growth and doubled its valuation despite the challenges brought to the industry by the pandemic. 💰
The company has also appointed Sweden’s Former Minister of Finance and key investor, Anders Borg as Chairman, in addition to new board members Kristina Schauman and Sophia Spala. ♀️
The funding will be used to cement DanAds’ position as a market leader in the self-serve advertising space providing a much-needed alternative to Big Tech.
🔔 Mikael Wintzell our CEO continued his collaboration with the Breakit Shift Challenge. He and the Wellstreet team met 6 of 34 finalist companies for follow up meetings, and Mikael will be on the Jury for the final pitch competition where the final 10 will pitch for investment from la crème de la crème of Sweden’s top investors. Check out the list of fantastic companies here, there may be an investment for you!
🔔 Last week we welcomed one of Jönköping International Business School’ students, Amanda, who won our career fair competition and received the opportunity to come and spend a week with our investment teams at The Factory! We loved having her and we look forward to welcoming more students in the future! Read more about her experience in our hectic everyday here.
🔔 Our partner Diverse Executive Boards - deb. - is receiving applications for their 2021/2022 program, the deadline is May 30. The initiative provides the right tools and connections to introduce more diverse backgrounds throughout Swedish Executive Boards. Attendees will have board training, deep-dive sessions, and opportunities to become a board member through one of deb.’s partners, like us! 😉
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Portfolio Update
🌪️ Returnado launched a new product together with their customer Asket: Returnado Rescue. Focusing on sustainability, The Rescue platform powers Asket’s new Revival Program. Returnado Rescue aims to help brands extend the lifecycle of their products and take a more circular approach to consumption. Items rescued can be refurbished and resold to new happy customers, upcycled, or broken down to their base resource and used when making new wonderful products. ♻️
🏘️ Pixery Media announced its latest partnership with Balder, for their fantastic new production project Bohusgatan, in Gothenburg. Navigate the beautiful project through Pixerymedia’s virtual tours, 360 panoramas and 3D images, and just imagine what it would be like to live there! 🤩
🔤 Textual had a fantastic first quarter of the year with an annualized ARR growth vs March 2020 of +550%, and a growth of 69% since December 2020. Total revenues grew +120% compared to Q1 last year, and the company is now live with 4x the number of customers than last year. 🚀
Don’t miss!
⬥ In one of its April episodes, the Breakit Live program received as a guest Mikael Wintzell, our CEO, together with Breakit's co-founder Stefan Lundell. They discussed different topics, such as e-commerce news, the Shift initiative by Breakit and BLING, and Wellstreet’s upcoming fintech fund.
⬥ The Guardian published a thought-provoking piece on the new phenomenon of Dark Kitchens and its potential future effects on our food and restaurant culture. Dark Kitchen startups are reaching skyrocket valuations even pre-launch, share with us your thoughts on where you think the future will take us!
⬥ Scandinavian Mind continues to highlight the innovations happening in fashion and beauty when it comes to sustainability. In this piece, one of Scandinavia’s leading beauty editors at Sweden’s daily Aftonbladet, Agneta Elmegård, shares some of the top products and brands breaking the mold and transforming the industry for the better.
Join and go #foreverforward!
Help our portfolio companies grow their fantastic teams and get in touch if you know anyone who could be a great fit for any of these roles.
⬥ Habity is looking for a Software Engineer and a Front-End Engineer to beef up their tech team
⬥ Hyber is looking for a Head of Marketing to join them on their growth journey
⬥ DanAds needs an Inside Sales Lead Generation Representative
⬥ And Wellstreet is still accepting applications for our Associate role. We’d especially like to encourage women to apply, so please share in your female networks and put in a good word for us!
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