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1. TRACXN MONTHLY REPORT
DECEMBER 2021
DENMARK TECH

2. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Denmark Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 8
Acquisitions 9
Recent News 10

3. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Denmark Tech Snapshot – December 2021
Denmark Tech: Snapshot – December 2021
Note : "Investors" refers to "Institutional Investors" only
3
$425M
5
Overall Geo Stats
12
3
21
11
6
Funding Rounds $ Invested Analyst Picks
Acubiz!@#
New Investors
Dapper Labs
LUN Partners Group
Series A+ rounds Active Investors IPOs Acquisitions
Team Singularity
Acubiz
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Copenhagen
(5 Rounds, $408M)
Aalborg
(1 Rounds, $16.9M)
$200M - Series F
Tradeshift (2010, San Francisco, $1.2B)
$200M - Series C
Pleo (2015, Copenhagen, $434M)
$16.9M - Series B
Blue World Technologies (2018, Aalborg,
$25.8M)
$5M - Seed
Dynasty Studios (2021, Copenhagen, $5M)
Creandum
(1 Investments)
Seedcamp
(1 Investments)
Thrive Capital
(1 Investments)
Bain Capital Ventures
(1 Investments)
Finance & Accounting Tech
Pleo
SCM Software
Tradeshift
B2B E-Commerce
Payments
Market Size
Companies Covered 3,985
Funded Companies 1,196
Total Funding $17.2B
Funding in last 12 months $3.6B
Top Exits
IPOs 45
Acquisitions 255
Company Stage
Unicorns 4
Soonicorns 24
Minicorns 127
Editor Picks 490
Series A+ 265
Series C+ 52
Acqui-Hires 1
Deadpooled 265
Top Cities
Copenhagen (1,249 Rounds, $12.8B)
Aarhus (162 Rounds, $911M)
Top Investors
Accelerace (155 Investments)
Growth Fund (104 Investments)

4. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Denmark Tech as of December 2021
Denmark Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (December 2021)*
Tradeshift
(2010, San Francisco, $1.2B)
$200M - Series F Koch Industries
Pleo
(2015, Copenhagen, $434M)
$200M - Series C Coatue
Blue World Technologies
(2018, Aalborg, $25.8M)
$16.9M - Series B Growth Fund
Dynasty Studios
(2021, Copenhagen, $5.0M)
$5.0M - Seed Framework Ventures
Hedia
(2015, Copenhagen, $8.1M)
$3.4M - Series A
*Shows only the lead Investors

5. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Denmark Tech in December 2021
Denmark Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$200.0M - Series C
Pleo (2015, Copenhagen, $434.0M)
Corporate payment card for expense management
Coatue, Alkeon Capital Management, Seedcamp,
Founders, Kinnevik, and 4 more
LATE STAGE
$200.0M - Series F
Tradeshift (2010, San Francisco, $1.2B)
Cloud-based SaaS invoice management solutions for
businesses
Koch Industries, IDC Ventures, LUN Partners Group,
Private Shares Fund, Fuel Capital
LATE STAGE
PE
3Shape (2000, Copenhagen)
Provider of 3D ear scanning systems
EQT
EARLY STAGE
$3.4M - Series A
Hedia (2015, Copenhagen, $8.1M)
Provider of an AI-based app for managing diabetes
EARLY STAGE
$16.9M - Series B
Blue World Technologies (2018, Aalborg, $25.8M)
Developer of methanol based fuel cell
Growth Fund, DEUTZ
SEED STAGE
$5.0M - Seed
Dynasty Studios (2021, Copenhagen, $5.0M)
Developer of PC and console-based games on
blockchain technology
Framework Ventures, , Dapper Labs, CoinFund, Timo
Schlaefer, and 1 more

6. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Denmark Tech in December 2021
Denmark Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Dapper Labs
15 portfolio companies | Blockchain-based games developer
Dynasty Studios
Developer of PC and console-based games on blockchain technology
$5.00M Seed
LUN Partners Group
12 portfolio companies | Venture capital firm focused on tech startups
Tradeshift
Cloud-based SaaS invoice management solutions for businesses
$200M Series F
CoinFund
48 portfolio companies | Slack Community Focused on Cryptocurrency Research
and Trading
Dynasty Studios
Developer of PC and console-based games on blockchain technology
$5.00M Seed
Fuel Capital
76 portfolio companies | Tech focused early stage VC firm investing in the US
Tradeshift
Cloud-based SaaS invoice management solutions for businesses
$200M Series F
Framework Ventures
27 portfolio companies | Venture capital firm investing in tech sectors
Dynasty Studios
Developer of PC and console-based games on blockchain technology
$5.00M Seed
Private Shares Fund
5 portfolio companies | Provider of funding services
Tradeshift
Cloud-based SaaS invoice management solutions for businesses
$200M Series F
DEUTZ
1 portfolio companies | Manufacturer and supplier of drive systems
Blue World Technologies
Developer of methanol based fuel cell
$16.92M Series B
woodinvestmentpartners.vdtrxn
1 portfolio companies | Limited information available
Dynasty Studios
Developer of PC and console-based games on blockchain technology
$5.00M Seed
EQT
36 portfolio companies | PE & VC firm focused on multiple sectors
3Shape
Provider of 3D ear scanning systems
Undisclosed PE
Coatue
304 portfolio companies | Equity strategy focused hedge fund
Pleo
Corporate payment card for expense management
$200M Series C

7. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Denmark Tech in December 2021
Denmark Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Alkeon Capital Management
38 portfolio companies | Long-only equity hedge fund
Pleo
Corporate payment card for expense management
$200M Series C
Koch Industries
9 portfolio companies | Diversified conglomerate operating in oil & gas industry
Tradeshift
Cloud-based SaaS invoice management solutions for businesses
$200M Series F

8. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 <> 0
B2B E-Commerce > Technology Enablers > E Commerce
Software Suite
$400M 2 Tradeshift | $200M | Series F
2 <> 0 Accounts Payable and Receivable Management $400M 2 Tradeshift | $200M | Series F
3 <> 0 Supply Chain Financing $400M 2 Tradeshift | $200M | Series F
4 -- Corporate Travel Expense Management $350M 2 Pleo | $200M | Series C
5 -- Corporate Travel & Expense Cards $350M 2 Pleo | $200M | Series C
6 -- Internet First Corporate Credit Card Issuers $350M 2 Pleo | $200M | Series C
7 ▲7 Alkaline Electrolyzers $229M 1 GreenHydrogen | $229M | Series C
8 ▲4 Drugs for Multiple Cancer Types $216M 2 IO Biotech | $155M | Series B
9 -- Wine Listing and Recommendation Platforms $155M 1 Vivino | $155M | Series D
10 ▲9 Podcast Aggregators $92.5M 2 Podimo | $78.0M | Series B

9. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Denmark Tech in December 2021
Denmark Tech: Acquisitions
9
Acq. Date Company Acquirer Deal Size
13 Dec 2021
Team Singularity(2016, Copenhagen, $0.4M)
Esports player organization platform
Abelco Investment Group
14 Dec 2021
Acubiz(1997, Copenhagen, $100.8M)
Cloud-based expense management solutions for businesses
Visma
16 Dec 2021
Mita(1969, Rodkaersbro)
Wind power management and control
Emerson

10. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Denmark Tech in December 2021
Denmark Tech:News
10
Exit News
.
● Emerson Strengthens Presence in Renewable Energy Sector with Acquisition of
Mita-TeknikBusiness Wire
.
● Mastercard Advances Global Open Banking Capabilities With Close of Aiia
Acquisition Business Wire
.
● SCAN Antenna acquires Lambda TELECOMDRIVE
.
● Visma Acquires Expense Management Solution PYMNTS.com
.
● Abelco Investment Group's portfolio company RightBridge Ventures acquires
approximately 90% of the shares in t... Cision
.
● Dye & Durham Provides Update on CMA Review of TM Group Acquisition CNW
.
People News
.
● Eutelsat appoints a Danish CEO – Eva Berneke Electronics Weekly
.
● Michael Santner, formerly of Wirecard, joins Nets as head of PSP Dach Finextra
.

11. Denmark Tech - December 2021 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Denmark Tech on Tracxn Platform
Denmark Tech: Explore more on Tracxn Platform
11
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Denmark
AI Companies in Denmark
Fintech Companies Denmark
Consumer Digital in Denmark
Company Due Diligence
Detailed profile of Tradeshift
Competitors of LEO Pharma
Cap Tables of Lunar
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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