Lund-Based Pengu Studios Declares Bankruptcy Amid Funding Challenges
Pengu Studios, a Lund-based startup known for its platform designed to simplify tabletop role-playing games (TTRPG) for both new and experienced players, has filed for bankruptcy, reports Swedish Tech News. Founded in 2018 by Markku Lorentz, Pengu Studios aimed to enhance the TTRPG experience through its innovative platform. In 2023, the company secured a small […]
Freedrum’s Journey at its End? Virtual Drum Kit Startup Goes Bankrupt for the Second Time
Freedrum, the Malmö-based startup known for its virtual drum kit, has declared bankruptcy. Swedish Tech News report this marks the second bankruptcy for the company, following a prior insolvency in 2019 when investors intervened to rescue the business. Freedrum was founded in 2016 by George Charkviani and has since raised over € 2.4 million (SEK […]
Malmö-Based Startup Youcruit Faces Bankruptcy, But Sees Potential Resurrection Post-Acquisition
Malmö-based Youcruit, a startup focused on delivering a recruitment platform for truck drivers in the United States, has been declared bankrupt. However, Rapidus reports there appears to be a glimmer of hope for the startup as a former minority shareholder has purchased the recruitment service from the bankruptcy estate. Back in 2021, Youcruit was riding […]
Learning 2 Sleep Files for Bankruptcy Amidst Financial Struggles
Learning 2 Sleep, a former startup within the digital healthcare provider based on CBT, has filed for bankruptcy due to prolonged financial difficulties characterized by insufficient liquidity and falling revenues. This decision to file for bankruptcy, including its subsidiary Bonzun Evolve, was announced after efforts to adapt the business model and expand services failed to […]
Electric Surfboard Radinn Files for Bankruptcy
Radinn, the electric surfboard startup based in Malmo, has filed for bankruptcy. Despite attracting significant venture capital over its ten-year existence and making bold claims about its future, Radinn’s losses have continued to grow each year. This move has resulted in notable investors such as Dan Olofsson losing their stakes in the company. Radinn was […]
Uniti has filed for bankruptcy – Lewis Horne speaks out on Youtube
Uniti, one of the most written about startups from Sweden, aimed to develop the car of the future. A small electric vehicle, made for car-sharing and modern urban lifestyles. An ambition that got global attention, to the startup that started it’s life in the small city of Lund. We have followed the story over the […]
Solar nanotech startup Sol Voltaics filed for bankruptcy
Sol Voltaics, Lund based deep tech startup which provides next-generation solar nanotechnology solutions, has gone into bankruptcy. The reason is that investors decided to not continue funding the company with further investments. For further information regarding solar panels, installations, visit this website link! The tech company, which builds on research at Lund University, has since […]
Hyped startups folds: Kronaby smart watches files for bankruptcy
Last week news broke that Anima, which focused on smart watches, has filed for bankruptcy. The startup operated mostly under one of it’s brands, Kronaby. The startup, which in some regards was not a normal startups, was founded in Malmö by four former Sony Mobile employees. However it was majority owned and financed by the […]
Shipbeat files for bankruptcy
Shipbeat, the startup focusing on making shipping easier and better, has filed for bankruptcy. The startup, founded by Kenneth Svenningsen and Joachim Rørbøl, aimed at enabling e-commerce companies to lower there shipping costs and making the solution easier. Making what Klarna has done with payment, but for logistics. “Logistics is costly for online retailers. About […]
Danish startup Fitbay files for bankruptcy and sets off for restructuring
Fitbay is a social media platform that helps consumers find the perfect clothing through following and connecting with people who have similar body types and fashion tastes. The concept is fairly simple: users take pictures of their outfits, tag brands they are wearing and share images in the network. This way their followers get inspiration […]