Participated · Equity · Sep 2025

Carla operates an e-commerce platform dedicated to purchasing and reselling pre-owned electric vehicles and plug-in hybrids entirely online. The company aims to simplify and speed up the transaction process for customers while ensuring vehicle quality. Having reported two consecutive EBITDA-positive months, Carla states that year-to-date business volume has climbed nearly 50 % and gross profit is up 89 % versus 2024. The firm is currently valued at SEK 552 million following its latest funding. Founders Patrik Illerstig and Niklas Jungegård remain the largest shareholders. Capital from the new round will be used primarily to expand vehicle inventory in order to meet rising demand. Existing backers include Verdane, Bonnier Capital, Luminar Ventures, Philian (Karl-Johan Persson), Inbox Capital and Sophie Stenbeck’s Max Ventures.

Participated · Equity · Oct 2023

Fast Travel Games is a Stockholm-based, VR-exclusive game developer and publisher led by industry veterans. The studio has released twelve VR titles, including Apex Construct, The Curious Tale of the Stolen Pets, and Wraith: The Oblivion – Afterlife. Management reported revenues grew 70% last year to over $5M and said strong growth continues this year. The new funding will support development of new IP for VR platforms and the company’s publishing initiatives. Current projects include Mannequin (its first original IP in four years), the studio’s first multiplayer game, and an unannounced title; the team also plans to publish Project Demigod next year. Fast Travel cites hardware tailwinds from PSVR2, Quest 3, and the upcoming Apple Vision Pro as drivers for further expansion. Fast Travel Games is a Swedish VR game studio developing its first high-end virtual reality title. The company was founded last year by former staffers from Rovio, EA, and Dice and is based in Stockholm. It raised $2.1 million in a new funding round to grow the team and accelerate development and launch of its debut VR game. Management cites an expectation that the high-end VR market could reach 100 million units sold by 2021 and says the founders have deep-rooted expertise to secure a strong foothold. CEO Oskar Burman said the funding will strengthen the team and expand the company’s ability to bring immersive experiences to players. Fast Travel Games, founded in 2016 and based in Stockholm, develops virtual reality games emphasizing social interaction and storytelling. The studio is co‑founded by Oskar Burman (CEO), Kristoffer Benjaminsson (CTO) and Erik Odeldahl (Creative Director). It remains in stealth mode and plans to reveal further details about the company and its games in the coming months. The company raised a seed funding round (amount undisclosed). Advisors to the studio include Mojang’s production director Daniel Kaplan, Avalanche Studio’s founder and CCO Christofer Sundberg, Paradox Interactive’s COO Susana Meza Graham, and Peter Zetterberg from the Microsoft Minecraft team. No operating metrics or revenues were disclosed in the article.

Participated · Equity · Aug 2022

Billogram offers a SaaS platform for invoice distribution, payments, and reconciliation aimed at improving end-customer experiences. Led by CEO Jonas Suijkerbuijk, the platform serves enterprise clients across telecom, energy, parking, finance and security industries. Over the past two years the company has experienced record growth in the Swedish market and expanded into several European markets. Billogram intends to use new funding to further boost its growth initiatives in Europe, with a specific focus on the DACH region. The company will work in close partnership with Swisscom Ventures to accelerate further growth. It recently raised €15m to support these expansion efforts. Billogram provides a platform for third parties to build and handle complex recurring payments and invoicing workflows, including variable fees and multi-service billing. The company began working with SMBs in 2011 and later pivoted to serve larger enterprises, which today comprise the majority of its business. Billogram reports strong commercial traction: signed deals rose 300% in 2020, and the first half of 2021 grew a further 50% on top of that. Its customers include utilities and broadband firms such as Skanska Energi, Ownit, and healthcare company Kry, with additional clients under NDA. Billogram has partnered with Stripe (which is not an investor) and faces competition from specialized billing providers and incumbents in invoicing and collections. Future plans center on European expansion and building more tools to improve invoicing, payments, and customer-service experiences rather than moving into debt collection.

Participated · Series D · Dec 2021

Founded in 2018 by Fredrik Hjelm, Adam Jafer, Douglas Stark and Filip Lindvall, Voi Technology runs a shared e-scooter and e-bike service aimed at replacing short urban car trips. Its platform integrates with public transit to reduce congestion and pollution, supporting cities’ net-zero goals. The company has focused heavily on improving unit economics, achieving a significant increase in vehicle gross profit margin after cutting central costs by nearly 50% since mid-2022 and deploying seventh-generation e-scooters and third-generation e-bikes. Voi lost its unicorn status in 2023 but regained a $1 billion valuation in 2024. According to Dealroom, it has raised $491 million to date, including a $25 million mix of equity and debt earlier this year. The latest financing gives the company capital to scale a next-generation fleet in 2025, refinance existing debt and fund general corporate needs.

Participated · Series D · Dec 2021

Voi Technology AB operates a shared e-scooter and e-bike service with over 110,000 vehicles across 12 countries. The company, founded in 2018, focuses on data-driven automation and cost-effective operations to improve vehicle gross profit margins. In 2024 Voi introduced its seventh-generation e-scooter and third-generation e-bike, aiming to deliver better energy efficiency, durability, and rider experience. Management has cut the central cost base by nearly 50% since mid-2022 and says it has met profitability targets. 2024 is expected to be a record year for rides and revenues, supporting plans to scale the next-generation fleet. Voi emphasizes partnerships with cities and communities as part of its strategy to integrate micromobility into urban transport networks. Voi operates shared e-scooter and e-bike fleets across Europe, serving consumers and city partners. In 2023 the company logged over 68 million rides and reported revenue growth of nearly 50% over the past two years; gross profit has more than doubled while overhead costs were reduced by almost 50%. Voi achieved its first quarter of positive EBIT at the group level and is focused on reaching full profitability and positive cash flow. With new equity and debt financing, Voi plans to scale its fleet, deploying 3rd-generation e-bikes and 7th-generation e-scooters in spring 2024 and expanding in existing and new markets. The company also intends to intensify sustainability efforts, improve environmental impact, work with cities to increase sustainable mobility options, and maintain safety and leading workplace practices. The conversion of prior convertible notes and the new financing are presented as strengthening Voi's financial position for further growth. Voi operates a shared micromobility platform providing e-scooters and e-bikes across more than 70 cities in 12 countries. The company partners with cities to deliver low-carbon, first- and last-mile transport and has a stated ambition to remove 1 billion car trips from Europe’s roads by 2030. Voi plans to expand into new European markets, add more e-bikes to its fleet, and launch the Voiager 5 e-scooter model in the spring as part of a Vision Zero safety commitment. It intends to have fully electric operational vehicles by early 2023 and to source only European-produced battery cells by 2023 to cut carbon footprint. Voi reported 140% year-over-year revenue growth in 2021, reached 90M+ rides since inception, and claims more than six million users. The company became operationally profitable company-wide in summer 2020 and employs about 1,000 people. Voi operates a micromobility platform offering e-scooters and e-bikes across Europe. It is now the largest micromobility operator in Europe by rides and scooter licenses, serving about 2 million rides per week and holding more than 40% of licensed markets. The company has introduced a computer-vision solution intended to keep riders off pavements and is focusing on parking and safety innovations. The new funding is earmarked for further R&D in e-scooter parking and safety solutions and to deploy more of Voi’s e-bike fleet. CEO and co-founder Fredrik Hjelm said the company will continue to advocate for changes to create more liveable cities. Financially, Voi has raised just over $400 million to date. Voi operates shared electric scooters and e-bikes, providing micromobility services across major European cities. The company focuses on hardware and software integration, safety improvements and fleet efficiency, including swappable batteries and renewable-energy operations. Voi plans to expand its fleet and geographic footprint, roll out its Voiager 4 scooter to more cities, and invest in platform and safety features such as helmet technology, improved lights, location accuracy, brakes, signalling and suspension. The business says it wins over two-thirds of city license tenders and leads in fleet efficiency across markets including Berlin, Oslo and Stockholm, with recent city wins in Birmingham, Liverpool, Bern and Cambridge. Financially, Voi raised more than €132 million in a Series C and secured the industry’s first scaled asset-backed debt facility to finance scooter and e-bike investment in 2021; total funding over the last four months is over €157 million.