Dec 03

Investments, exits and top stories for Nordic startups in November

General News

▤ Summary

As the Nordic scene geared up for Slush, funding announcements were flying out of the blocks, with November becoming a new record month for the number of investments in the region. Catch up on all of those, as well as the exits and top stories in our monthly wrap up for November. Norwegian The Future Group raises $20 million for its mixed reality platform and game show Swedish Zenterio, which has created an operating system for digital TV boxes, has raised €8.6 million Finnish messaging app Jongla has raised an additional 5 million euros for its global expansion Finnish Sympa, the fastest-growing HR solution provider in the Nordic region had Alfven and Didrikson investing 4.4 million euros Finnish M&A software firm Midaxo has raised 3.6 million euros investment from Finnish Industry Investment, EOC Capital, and others Swedish Matsmart has taken in another 36MSEK, just 11 months after raising 30MSEK to help them on their mission to reduce food waste Finnish BioMensio raises €2.5 million in funding for its bio-screening sensor One of Denmark’s richest families is injecting money (21MDKK) into Aarhus’s Sekoia that has developed an IT platform for nursing homes Swedish Incell who develop specific online lithium batteries sold to the telecommunications industry has raised a further 20MSEK Swedish Zynapp that pulls together your whole digital footprint to make easier for you to find past communications has raised 20MSEK so far Swedish Keyflow has taken in a 20MSEK convertible note from its existing investors Swedish Gaming studio Isbit has received investment of 19.3MSEK, Back to Black now invest Finnish digital health startup Noona Healthcare has raised €1.5 million in a seed round led by Inventure Swedish Ecommerce site Caliroots has acquired German competitor Soto, and raised 15MSEK more from existing investors for further expansion Swedish ComPodium raises SEK 15 million from Norrland Fund, Centre Court and Cygate’s former CEO Bengt Lundgren Denmark’s UNSILO, an AI startup focused on advanced text analysis has taken in 15MDKK investment from Indian IT giant Infosys Swedish Mobile-video startup Bambuser has raised a further 14MSEK, including from Avicii Swedish Invoicing startup Billogram has taken in a further 13MSEK, described as an “opportunistic fundraise” Robo-advisor for pensions, Pensionera has taken in a 12MSEK investment from Optimizer Invest Swedish recycling app Tipptapp has raised 10MSEK from a group of investors that include the Avito founders Swedish wearables startup Tinitell has taken in a further 8.5MSEK for its smart-watch for children Norwegian Eventum, a marketplace allowing you to book corporate spaces and meeting rooms has raised 8MNOK Swedish planning app Simpliday has taken in a further 5.5MSEK Swedish Attach has raised 5.3MSEK from MOOR and Recapex for their analytics tool for documents attached to emails Swedish Mitigram has raised 5MSEK for their B2B FinTech solution Swedish Last Grab has raised 5MSEK for their last-minute restaurant booking app Swedish Tech Buddy has raised 5MSEK from business angel Stefan Tengvall for their “Uber for technical support” Swedish AI health startup Lytics has taken in 4.7MSEK Danish SokMig.dk has taken in 4MDKK for its web shop selling socks Swedish mindfulness app Shim has taken in 3.8MSEK from an impressive roster of investors Gaming startup Happy L-Lord from Sweden has topped up its coffers with 3.3MSEK Swedish Fidesmo has taken in 3MSEK from its existing investors and Erik Hallberg Swedish E-commerce startup Reclaimit has taken in 3MSEK Finnish Edtech startup Mightifier has raised $250,000 from xEdu, a Nordic Edtech accelerator and others Swedish construction startup Byggvarulistan has raised 2.4MSEK from two new angels and existing investors Norwegian Vio has taken in 2MNOK from the Angel Challenge network Swedish MyNews has taken in 1.2MSEK from Helsingborg company Preventic Group Danish Gloove.dk gives up 16% of equity for $120,000 from business angel Magnus Kjølle Swedish Karma has so far raised a couple of million SEK from DHS Venture Partners Danish Kitchen4Kids has taken in 230,000DKK Danish Happyhelper.dk has received an undisclosed amount for their on-demand cleaners service In Finland, Courage Ventures has invested in The Mighty United and Wellness Foundry In Sweden, NFT Ventures and Bonnier News have invested in Dorunner, one of the largest marketplaces in service transactions online Swedish Mimove, an accomodation site targeted at Swedes and Brits looking to buy property in Spain has raised a seed round Finnish Underhood.co has raised an undisclosed seed round for further development of its online reputation measurement tool Danish Trendday, an e-commerce fashion site aimed at young women has received an undisclosed investment Swedish Storegate have investment from Aggregate Media to fight Google and Dropbox over cloud storage Danish FinTech startup Leneo has got investment from Seed Capital and the ex-CEO of Nordea Thorleif Krarup Nordic Makers have made four investments so far, into Minut, peergrade, Corti Labs and App Action BTO puts 3.5MNOK in 4 Norwegian companies, with the 3,5MNOK matched by private investment Norwegian Prox Dynamics has been acquired for $132 million Finland’s SportSetter has been acquired and rebranded to Polku Denmark’s CFH Group has been acquired by Playtech for up to $120 million In Denmark, IT entrepreneur Martin Thorborg has sold his accounting business Dinero to Visma Group Miinto, a Danish online fashion retailer, has been acquired by Dane Anders Holch Povlsen, the sole owner of competing Bestseller for a “double-digit million-euro sum THQ Nordic valuation grows to €190 million after IPO on Nasdaq First North Prominent Norwegian entrepreneurs have grouped together to put pressure on the Government for more entrepreneur-friendly conditions Former employees have stepped in at the last minute at Narrative to buy the assets and keep the company alive. Hyperloop One has (Editor: nearly) signed a letter of intent with the Finnish government with plans to connect Helsinki and Stockholm Sweden set to take another look at work permit rules AR company XM Reality has set its sights on going public rather than attempting to attract private equity in 2017 DI Digital are reporting that Linas could be weighing up an IPO within the next few months Eve V is breaking $1million within days on Indiegogo, with an initial target of $75,000 Novasol to buy Rocket Internet-backed Wimdu just weeks after 9Flats merger Klarna has agreed to take on the team behind the insolvent Berlin fintech startup Cookies