The Hottest Startups in Stockholm

Johan Pihl and Mathias Wikstöm, co-founders of climate fintech Doconomy.Photo: Christopher Hunt


The climate fintech Doconomy calculates the environmental costs of every purchase made with its DO credit card. Through its API, each transaction is presented in both kroner and a carbon footprint score based on business or merchant category. But the technology aims to do more than create awareness: the app also enables customers to take action by offering carbon offset opportunities and donations to global sustainability projects.

Doconomy’s technology has been integrated into Mastercard’s global network; its Impact API has now processed data from more than 2 billion transactions and reached over 750 million users. It was founded in 2018 by Mathias Wikström and Johan Pihl and has total funding of £15.5 million (around US$17.4 million). “Ultimately, it’s about revealing the blind spots of the impact,” says Wikström. “We make sure we help facilitate reduction in line with net-zero targets for both individuals and companies.”

adhesive systems

William Bergh came up with the idea of ​​developing a used EV battery trading platform while completing his master’s thesis, which involved research at Stockholm-based sustainable battery manufacturer Northvolt. “I saw a gap in the market: With existing systems, it was not clear where batteries would actually end up,” says Bergh. Founded in 2020, Cling Systems connects the ecosystem to ensure batteries are reused, reused and recycled. In a pre-seed funding round in January, the company raised £1.7m (about US$1.9m) to help build a real-time map of used batteries to ensure maximum commercial and environmental benefits. The existing offer includes 2,500 batteries from more than 50 sellers in Scandinavia and the Netherlands.


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This digital therapy service connects patients with mental health professionals with just a few taps of the screen. Since launching in 2018, Mindler has conducted more than 375,000 digital psychologist visits; Video call sessions are combined with in-app treatment plans. Its popularity skyrocketed during the Covid lockdown, with monthly active users more than quadrupling to 13,000 since the pandemic. The company, co-founded by doctor Rickard Lagerqvist and psychologists Rickard Färdig and Johannes Hatem, has since expanded into four other markets – including the UK – and raised almost £34m (about US$38m) in funding.

climate view

From Malmö to Dundee, Cincinnati to Nottingham, ClimateView is helping cities around the world reach net zero through its ClimateOS platform. Local authorities then manage, track and execute data-driven climate action plans in the transition to a zero-carbon economy. “Cities need better intelligence to make shared climate decisions,” explains Tomer Shalit, co-founder of ClimateView. As a former IT consultant, he previously provided banks and insurance companies with agile solutions. “If they’re using these methods to effectively solve complex problems, why not apply them to the most important problem of all?” The company, co-founded with Jeff Goens and Einar Bodstrom, most recently raised a Series A round of 8.6 million pounds ($9.7 million).

pocket law

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Former M&A lawyer Kira Unger and ex-McKinsey consultant Olga Beck-Friis founded legal-tech startup PocketLaw in 2018 to reduce the red tape that often hampers small and medium-sized businesses. Now used by more than 6,000 companies, its contract creation and management platform eases the burden of everyday legal requirements by digitizing daily paperwork. Since launching in 2020, PocketLaw has quadrupled year on year. It has also opened a London office where a team of lawyers are adapting the technology to the nuances of UK company law. It raised £8.5m ($9.6m) in Series A funding in May.

Selah Rui Li and Marc van Almkerk, co-founders of Ellure.Photo: Christopher Hunt


Ellure’s cosmetic IoT-enabled 3D printers are able to design, formulate and manufacture lipsticks on demand in minutes. Not only does this mean there are 10,000 shades to choose from, but waste and overproduction typically found in the beauty industry is drastically reduced – for example, applicator tops are 3D printed from corn-based materials. “Our research shows that 7 percent of cosmetics and 14 percent of lipsticks are not sold at retail because customer demand cannot be accurately estimated,” explains co-founder Selah Rui Li, who co-founded the startup in 2019 with Marc van Almkerk. After a small pilot in the US and funding from the European Institute of Innovation and Technology, Ellure is moving towards its first product launch this year.


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Dework has been touted as the LinkedIn for Web3: a decentralized job board for crypto and blockchain gig workers. Founded by Lonis Hamaili and David Fant, the collaboration tool enables decentralized autonomous organizations to recruit teams, organize teams, manage projects and pay contributors with native tokens. Conversely, contributors can connect their personal Discord account to the platform, create a profile and sign smart contracts that match their skills. Fresh from a £4 million ($4.5 million) pre-seed funding round led by Paradigm and Pace Capital and former Coinbase CTO Balaji Srinivasan, the platform already has 11,000 on its launch in December 2021 show users.


Data engineering is usually a complex business. Validio helps to shed that again. Its platform enables even one-man teams to have capabilities closer to those of a Silicon Valley giant: Machine learning technology can easily detect unknown data errors and automatically validate data quality. It was founded in 2019 by Patrik Tran, Urban Eriksson and Oliver Molander and is now a Google Cloud Build Partner. Validio’s customers include Stockholm-based escooter startup Voi and digital electricity provider Tibber. In June, it raised £12.2 million (about $13.8 million) in seed funding led by Lakestar, an early backer of companies like Spotify and Revolut. Among the business angels? The Swedish football legend Zlatan Ibrahimović.

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