The Rundown
Peter Sarlin sold Silo AI to AMD for $665 million. Eighteen months later, he's back with Qutwo, a Helsinki startup building the orchestration layer between classical and quantum computing. Spotify unveiled its Taste Profile editor at SXSW, letting Premium users see and modify the algorithmic model that shapes their recommendations. Two Nordic startups closed pre-seed rounds: Elva ($1.5M for cross-border hiring) and Tendermore (EUR 265K for AI-powered tender applications). Meanwhile, Canada's PM Mark Carney flew to Oslo for a full Nordic summit covering Arctic security, AI, and critical minerals, with a $400M mining acquisition announced alongside it. And TechSverige published its most detailed election manifesto yet, demanding a digital welfare state before Swedish voters head to the polls.
Capital Moves
Qutwo launches with PostScriptum backing. Peter Sarlin, the founder who sold Silo AI to AMD for $665M, launched Qutwo out of Helsinki. The startup is building Qutwo OS, a hybrid quantum-classical computing orchestration layer, funded through Sarlin's family office. Nokia's former CEO Pekka Lundmark and IQM co-founder Kuan Yen Tan are on the team. First customer: Zalando.
Elva raises $1.5M for cross-border hiring. Elva closed a pre-seed round led by Lifeline Ventures to build an AI platform that automates work permits, local registrations, housing, and bank accounts for international hires. Slack co-founder Cal Henderson joined as an angel investor.
Tendermore closes EUR 265K pre-seed. Tendermore, an Oslo-based startup, raised its first round to build AI that automates tender discovery, requirement extraction, and proposal drafting for SMEs. Co-founders Sebastian Mandal and Eivind Wassend built the product after 50 workshops with Norwegian construction firms.
Building and Shipping
Spotify launches Taste Profile editor. Spotify co-CEO Gustav Soderstrom announced Taste Profile at SXSW: a feature that surfaces the algorithmic model Spotify has built about each listener and lets Premium users modify it directly. Beta starts in New Zealand. If personalization is why 80% of users stay, giving them control over it could be the stickiest feature Spotify has ever built.
The Policy Wire
Canada-Nordic summit in Oslo covers defence, AI, and critical minerals. PM Mark Carney met with leaders from all five Nordic countries on March 14-15. The joint statements cover Arctic security, AI cooperation, space communications, and trade. Champion Iron announced its $400M acquisition of Norway's Rana Gruber during the visit. The technology pillar, covering AI and space communications, is new for Canada-Nordic diplomacy and could channel procurement toward Nordic startups.
TechSverige publishes election manifesto. TechSverige launched 'Tech-Safe Sweden' (Techsakra Sverige), a comprehensive reform agenda ahead of the 2026 Swedish election. Four pillars: a digital welfare state for skills and inclusion, tech for jobs and growth, a national technology boost for education and healthcare, and digital security preparedness. CEO Asa Zetterberg: "The winners will be those who take action."
What to Watch
IQM Quantum Computers is targeting a June 2026 NYSE listing through a $1.8B SPAC merger with Real Asset Acquisition Corp. If approved, it would make IQM Europe's first listed quantum computing company. Watch for shareholder vote timing.
Spotify's Taste Profile beta in New Zealand sets the clock on a broader rollout. If the pattern from Prompted Playlist holds, expect US and UK availability within two to three months.
The Canada-Nordic summit's AI and space communications commitments could translate into joint procurement programs. Track whether specific funding allocations follow the diplomatic framework.