Dear friends,
Welcome to the last Wellstreet Journal of 2022! This edition has a special format: we’ll look back on 2022 and cover some of our highlights of this year, as well as some pieces of news that caught our eye. But don’t worry, you’ll also see a few December updates from Wellstreet’s team and portfolio.
2022 was a very exciting year for all of us at Wellstreet. We are extremely thankful for the journey we’ve shared with you! 😍
Wellstreet
⬥ We announced that Caroline Farberger would join Wellstreet in the spring.
⬥ The start of the Shift competition, counting with Wellstreet throughout the spring.
⬥ We announced a new Fintech Investment Vehicle.
⬥ We welcomed Ola Laurin at the Wellstreet Fintech Board.
⬥ Wellstreet turned six years!
Portfolio
📈 DanAds revealed that their valuation doubled from the previous year. No wonder that it was named one of Sweden's top10 tech companies by Tech Sverige.
🛥️ X Shore raised an investment round of 500M SEK. The boat Eelex 8000 made it to the top10 of the 2021 reader’s choice awards of Power and Motoryacht magazine.
💚 ESG Investor highlighted Esgaia as a notable new player in the sector. They also released an annual insights report.
🙋 Aura Cloud named Caroline Farberger as Chairwoman of their Board.
🎽 Compared with 2020, ICIWl’s sales grew by 80% in 2021.
On the news
⬥ Sweden was deemed the new impact hub in Europe.
⬥ Our partner Google for Startups created a 5M USD fund to support Ukrainian startups.
Wellstreet
⬥ We made an open call for startups to join our Wellstreet Launchpad with Google for Startups in Gothenburg
⬥ The Shift Gothenburg semifinal was hosted in our newly opened office
Portfolio
📈 The European Investment Bank (EIB) backed DanAds with a loan of €8M.
♻️ Hyber, together with Matsmart and Sellpy, set out to inspire a more circular life with the Cirkulära Familjen project.
🙋 Maintract welcomed Knut Frängsmyr as their new board advisor.
💳 Steven partnered up with Enfuce and Mastercard for the issuance of the world's first payment card for shared expenses.
On the news
⬥ Q1 reports indicated companies would face a tougher funding climate.
⬥ Caroline Farberger shared her view about diversity and inclusion with Svenska Dagbladet.
Wellstreet
⬥ We ran a Wellstreet Launchpad with Google for Startups dedicated to underrepresented founders and invited some Shift competition companies
⬥ Wellstreet welcomed new teammates: Head of Marketing and Communications Helen von Bahr, Associate Pontus Lund and Investment Intern Joshua Seidel
Portfolio
🏘️ Pixery Media is now part of Hydda Group!
🚀 Zalster is now as part of the VO2 family!
📈 DanAds opened TWO new offices! Poland & USA
💚 ICIW committed to reducing its emissions by 35% per product by 2025 and compensate for 100% of its calculated emissions every year.
🛥️ X Shore launched the revolutionary new boat X Shore 1. The accessible price point presents a “Tesla moment” for the electric maritime industry.
📝 Maintract release Negotiation Room, a one-stop shop for negotiations
🖋️ Steven teamed up with Minna Technologies to simplify subscription management.
🔍 Texelio provided us an interesting ESG use case here.
On the news
⬥ The Nordics are working hard to create sustainability champions, according to McKinsey
⬥ An interesting “Startup Founder's Guide to Equity”, divided into Part I, Part II and Part III.
Wellstreet
⬥ We hosted an investor panel at our AW in Gothenburg Tech Week 2022.
⬥ Wellstreet has (more!) new teammates: Head of Investor Relations Mikael Magnusson and Investment Manager Joseph Hajj.
⬥ We hosted 2 events for the portfolio: a TikTok marketing 101 with Ingager, and an international growth training with Google, focusing on expansion into the German market.
⬥ NEW! Evelina Anttila is a finalist of the "Rowdiest Woman of the Year" award delivered by 17 Nätverket. A true troublemaker when it comes to fighting for her views! 👏
Portfolio
📖 We announced that we backed Enable Banking at the same time the banking company welcomed high-profile Sarah Häger. They are also joining the world's largest banking community through the integration with Temenos Banking Cloud.
🐎 We announced that we backed Y/ELM+, the company securing the future of horse riding safety and its new Core Ambassador & Pathfinder is riding rising star Ebba Danielsson.
🏆 Esgaia won the “Best regulatory change management solution for ESG" at the ESG Insights Awards! They also partnered up with Glass, Lewis & Co., a leading independent provider of global governance and engagement support services.
🏘️ With Habity, private individuals can now make an entire housing transaction without a broker.
♻️ NEW! Gamifiera will soon launch a circular solution to enable their clients to offer circular commerce between their members directly in their customer community.
🛥️ NEW! X Shore’s new boat, the affordable X Shore 1, was awarded the Gold prize at the German Design Award 2023 in the category Aviation, Maritime, and Railway.
💡 NEW! An article by Enable Banking’s Sarah Hägger was featured on the Helsinki Fintech Guide 2022 discussing how Open Banking is just the beginning of the journey to Open Data and Finance
On the news
⬥ Swedish Tech Weekly compiled an extensive list of Swedish tech startups and scaleups founded and led by women.
⬥ TikTok is launching live-stream commerce in the US.
⬥ Rickard Nilsson, from our portfolio company Esgaia, wrote about the influence of institutional investors and the role of collaboration.
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That’s all from us for this year. Thank you for your company! Happy holidays for you and your loved ones! 🎄☃️🎁
Share with us your reflections on 2022 and aspirations for 2023 by reaching out to us at contact@wellstreet.vc 😉
