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TRACXN MONTHLY REPORT
JANUARY 2021
NORDICS TECH
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Nordics Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 9
Top Funded Business Models - last 1 year 11
New Analyst Picks 12
IPOs 17
Acquisitions 18
Recent News 19
Deadpooled Companies 21
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Nordics Tech Snapshot – January 2021
Nordics Tech: Snapshot – January 2021
Note : "Investors" refers to "Institutional Investors" only
3
$1.1B
23 1
Overall Geo Stats
20
9
67
56
33
Funding Rounds $ Invested Analyst Picks
Budbee Upgraded
to SOONICORN
New Investors
nineyardsequity
Klaveness Marine
Series A+ rounds Active Investors IPOs
Stillfront
Acquisitions
Checkout#@
Netop#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Stockholm
(7 Rounds, $92.5M)
Helsinki
(6 Rounds, $561M)
Copenhagen
(5 Rounds, $221M)
Espoo
(2 Rounds, $17.7M)
$535M - Series E
Wolt (2014, Helsinki, $860M)
$154M - Series B
IO Biotech (2014, Copenhagen, $175M)
$71M - Series C
Everfuel (2005, Herning, $110M)
$63.3M - Series C
Budbee (2015, Stockholm, $112M)
Blisce
(2 Investments)
EQT Ventures
(2 Investments)
Icebreaker
(2 Investments)
Luminar Ventures
(2 Investments)
Food Tech
Wolt
Logistics Tech
Budbee
Oncology
IO Biotech
Energy Storage Tech
Everfuel
Market Size
Companies Covered 13,507
Funded Companies 5,343
Total Funding $45.7B
Funding in last 12 months $7.7B
Top Exits
IPOs 336
Acquisitions 1,164
Company Stage
Unicorns 4
Soonicorns 74
Minicorns 405
Editor Picks 1,616
Series A+ 1,204
Series C+ 266
Acqui-Hires 5
Deadpooled 993
Top Cities
Stockholm (1,096 Rounds, $10.6B)
Copenhagen (892 Rounds, $13.8B)
Top Investors
Almi Invest (265 Investments)
Accelerace (102 Investments)
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Nordics Tech as of January 2021
Nordics Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (January 2021)*
Wolt
(2014, Helsinki, $860M)
$536M - Series E ICONIQ Capital
IO Biotech
(2014, Copenhagen, $175M)
$155M - Series B Vivo Capital
Everfuel
(2005, Herning, $110M)
$71.0M - Series C
Budbee
(2015, Stockholm, $112M)
$63.3M - Series C AMF
Too Good To Go
(2015, Copenhagen, $42.6M)
$62.7M - Series B Blisce
Proximar Seafood
(2015, Bergen, $49.3M)
$49.3M - Series C Espen Aubert
Volta Trucks
(2019, Sigtuna, $20.0M)
$20.0M - Series B Luxor Capital Group
Minna Technologies
(2016, Gothenburg, $28.0M)
$18.9M - Series B Element Ventures
Sanalabs
(2016, Stockholm, $23.0M)
$18.0M - Series A EQT Ventures
Flowhaven
(2016, Espoo, $21.5M)
$16.0M - Series A Global Founders Capital
Zyfra
(2017, Helsinki, $13.4M)
$13.4M - Series A Veb.ventures
*Shows only the lead Investors
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/4)
List of Funding Rounds in Nordics Tech in January 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$49.3M - Series C
Proximar Seafood (2015, Bergen, $49.3M)
Producer of fish using sustainable RAS farming solution
Nutreco, DNB, T D Veen, Klaveness Marine,
Fondsfinans, and 2 more
LATE STAGE
$63.3M - Series C
Budbee (2015, Stockholm, $112.1M)
Provider of scheduled e-commerce delivery services
AMF
LATE STAGE
$71.0M - Series C
Everfuel (2005, Herning, $109.7M)
Providing hydrogen fueling solutions
LATE STAGE
$535.5M - Series E
Wolt (2014, Helsinki, $860.4M)
Online platform for food ordering and on-demand
hyperlocal delivery
ICONIQ Capital, Prosus, Vintage Investment Partners,
KKR, Coatue, and 7 more
EARLY STAGE
$284.4K - Series A
Safello (2013, Stockholm, $1.4M)
Exchange platform for cryptocurrencies
EARLY STAGE
$3.0M - Series A
Collective Minds Radiology (2017, Taby, $3.0M)
Provider of cloud-based decision support software for
radiologists
Brightly Ventures, Crista Galli Ventures, Mikael
Kjellman
EARLY STAGE
$3.0M - Series A
CanopyLAB (2015, Copenhagen, $3.0M)
Interactive learning platform for corporates and NGOs
Sparkmind.vc,
EARLY STAGE
$3.6M - Series A
CodeScene (2015, Malmo, $3.6M)
Cloud-based predictive analytics and visualization tool
Inventure, Luminar Ventures
EARLY STAGE
$3.7M - Series A
Capitainer (2016, Stockholm, $5.3M)
Developer of a volumetric blood collection device for
sample collection
Sciety
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/4)
List of Funding Rounds in Nordics Tech in January 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$5.0M - Series A
Filestar (2019, Stockholm, $5.0M)
Web-based file conversion software
HashKey Capital
EARLY STAGE
$6.1M - Series A
Leadoo (2018, Helsinki, $9.4M)
Conversational lead generation platform
Springvest, OpenOcean
EARLY STAGE
$6.6M - Series A
Sproud (2018, Malmo, $12.0M)
Brand offering pea protein-based dairy products
VGC Partners
EARLY STAGE
$7.1M - Series A
NBX (1995, Oslo, $8.7M)
Cryptocurrency exchange platform
EARLY STAGE
$10.0M - Series B
Critical Force (2012, Kajaani, $20.8M)
Mobile game development studio
EARLY STAGE
$13.4M - Series A
Zyfra (2017, Helsinki, $13.4M)
Develops robots, AI, and IIoT based solutions for
mining industries
Veb.ventures
EARLY STAGE
$16.0M - Series A
Flowhaven (2016, Espoo, $21.5M)
Cloud-based license management solutions
Sapphire Ventures, Global Founders Capital, Icebreaker
EARLY STAGE
$18.0M - Series A
Sanalabs (2016, Stockholm, $23.0M)
Plugin tools for digital learning
EQT Ventures
EARLY STAGE
$18.9M - Series B
Minna Technologies (2016, Gothenburg, $28.0M)
White-label subscription management platform
Element Ventures, nineyardsequity, MiddleGame
Ventures, Visa
EARLY STAGE
$20.0M - Series B
Volta Trucks (2019, Sigtuna, $20.0M)
Developer of electric trucks
Luxor Capital Group, Builder Anders J Ahlström Holding
AB
EARLY STAGE
$31.1M - Series A
Too Good To Go (2015, Copenhagen, $42.6M)
Online platform for ordering excess food
Blisce
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (3/4)
List of Funding Rounds in Nordics Tech in January 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
EARLY STAGE
$31.6M - Series B
Too Good To Go (2016, Copenhagen, $86.6M)
App-based platform for surplus food discovery
Blisce
EARLY STAGE
$154.5M - Series B
IO Biotech (2014, Copenhagen, $175.3M)
Developer of vaccine for the treatment of cancer
HBM Healthcare Investments, Kurma Partners,
Samsara, Partner Fund Management, Sunstone, and 8
more
EARLY STAGE
Series B
Refunder (2013, Stockholm, $4.0M)
Online platform offering cashback on online purchases
SEED STAGE
$1.2M - Seed
Oveo (2019, Copenhagen, $1.5M)
Cloud-based spend management software provider
Growth Fund, PreSeed Ventures, Ole Andersen
SEED STAGE
$1.7M - Seed
Surgify (2015, Espoo, $1.7M)
Develops solutions to assist healthcare providers with
bone surgery
Innovestor, Leena Niemistö, Peter Lindell
SEED STAGE
$1.8M - Seed
RetinaRisk (2013, Reykjavik, $1.8M)
Provider of decision support system for point of care
risk assessment for diabetes retinopathy
SEED STAGE
$1.8M - Seed
CHAOS (2013, Helsinki, $2.1M)
AI-based platform for urban development
Nidoco, Alexander Ehrnrooth, Kai Keituri, Tapio
Heikkila, Stefan Lindberg
SEED STAGE
$1.8M - Seed
Calqulate (2019, Helsinki, $1.8M)
Cloud-based financial forecasting & budgeting software
for businesses
Maki.vc, , River Venture Partners
SEED STAGE
$2.2M - Seed
Precisely (2014, Stockholm, $2.2M)
Platform to manage contracts
Peak Capital
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (4/4)
List of Funding Rounds in Nordics Tech in January 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
8
SEED STAGE
$2.4M - Seed
Hack your closet (2019, , $2.8M)
Online platform offering pre-owned personalized
fashion apparel
Pale Blue Dot, Luminar Ventures, J12 Ventures
SEED STAGE
$2.5M - Seed
IPRally (2016, Helsinki, $2.9M)
Patent analytics and search engine for patent attorneys
and examiners
Join Capital, Spintop Ventures, Icebreaker
SEED STAGE
Seed
IntuiCell (2020, Lund)
Provider of an AI-based computation technology that
imitates brain intelligence
SEED STAGE
Seed
Encode (2001, Odense)
Marketing campaign management solution
Viking Venture
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Nordics Tech in January 2021
Nordics Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
nineyardsequity
1 portfolio companies | Venture capital firm investing in tech sectors
Minna Technologies
White-label subscription management platform
$18.88M Series B
Klaveness Marine
3 portfolio companies | International capital market & Nordic region focused PE
firm
Proximar Seafood
Producer of fish using sustainable RAS farming solution
$49.33M Series C
Join Capital
20 portfolio companies | Early-stage centric tech-focused VC firm funding
companies in Europe
IPRally
Patent analytics and search engine for patent attorneys and examiners
$2.46M Seed
Sapphire Ventures
226 portfolio companies | Expansion & early stage VC firm investinmg in the US,
Europe and Israel
Flowhaven
Cloud-based license management solutions
$16.00M Series A
Avoro Capital Advisors
6 portfolio companies | Venture capital fund focused on biotechnology startups
IO Biotech
Developer of vaccine for the treatment of cancer
$154M Series B
Prosus
16 portfolio companies | Venture capital firm investing in tech companies
Wolt
Online platform for food ordering and on-demand hyperlocal delivery
$535M Series E
Element Ventures
1 portfolio companies | Venture capital firm focused on fintech sector
Minna Technologies
White-label subscription management platform
$18.88M Series B
MiddleGame Ventures
9 portfolio companies | Venture capital firm investing in early-stage fin-tech
startups
Minna Technologies
White-label subscription management platform
$18.88M Series B
Crista Galli Ventures
3 portfolio companies | Venture capital fund focused on healthcare startups
Collective Minds Radiology
Provider of cloud-based decision support software for radiologists
$3.03M Series A
Fondsfinans
1 portfolio companies | Fondsfinans Kapitalforvaltning - Aksje-, rente- og
kombinasjonsfond.
Proximar Seafood
Producer of fish using sustainable RAS farming solution
$49.33M Series C
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Nordics Tech in January 2021
Nordics Tech: List of New Investors
10
Investor Company Info Round Amount Round Name
ICONIQ Capital
7 portfolio companies | Home - ICONIQ Growth
Wolt
Online platform for food ordering and on-demand hyperlocal delivery
$535M Series E
toponlinepartners.com
1 portfolio companies | Top Online Partners » Top Online Partners Group
Refunder
Online platform offering cashback on online purchases
Undisclosed Series B
Peak Capital
28 portfolio companies | Tech-focused early stage VC Firm investing primarily in
Europe
Precisely
Platform to manage contracts
$2.18M Seed
Nutreco
5 portfolio companies | Produces and supplies animal and fish feed
Proximar Seafood
Producer of fish using sustainable RAS farming solution
$49.33M Series C
HashKey Capital
14 portfolio companies | Venture capital fund focused on fintech startups
Filestar
Web-based file conversion software
$5.00M Series A
Builder Anders J Ahlström Holding AB
1 portfolio companies | Property development company
Volta Trucks
Developer of electric trucks
$20.00M Series B
VGC Partners
1 portfolio companies | VC firm providing growth equity for startups focusing on
the consumer & media sectors
Sproud
Brand offering pea protein-based dairy products
$6.57M Series A
Samsara
42 portfolio companies | Venture capital firm in California
IO Biotech
Developer of vaccine for the treatment of cancer
$154M Series B
Blisce
8 portfolio companies | US focused early stage venture capital firm
Too Good To Go
Online platform for ordering excess food
$31.10M Series A
KKR
148 portfolio companies | Private equity investment firm focused on growth
stage companies
Wolt
Online platform for food ordering and on-demand hyperlocal delivery
$535M Series E
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private 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.
11
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Esports League Organizers $1.9B 2 BLAST Pro Ser.. | $1.9B | Series D
2 ▲4 Online Food Delivery $654M 3 Wolt | $536M | Series E
3 ▼-1 Internet First Direct Lender Purchase Financing $650M 3 Klarna | $650M | Series G
4 ▼-3 Lithium Ion Batteries $600M 1 Northvolt | $600M | Series C
5 ▲146
Food Tech > Novel Foods > Food Products > Dairy
Substitute > Plant Based
$200M 1 Oatly | $200M | Series C
6 ▲2 Free Float Electric Kick Scooter Rentals $136M 2 Voi | $107M | Series C
7 ▲150 Direct Home Buying $117M 1 Kodit.io | $117M | Series B
8 --
Alternative Lending > Online Lenders > Consumer Loans >
Personal Loans > Marketplace > P2P
$115M 1 Lendify Sweden | $115M | Series D
9 ▼-2 Open Banking Aggregation APIs $107M 2 Tink | $103M | Series E
10 ▲75 Hydrogen Fueling $102M 4 Everfuel | $71.0M | Series C
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/5)
Interesting Companies identified by Analysts in Nordics Tech in January 2021
Nordics Tech: Analyst Picks
12
Upgraded to SOONICORN
Budbee (2015, Stockholm, $63.3M, Series C)
Provider of scheduled e-commerce delivery services
Club Network Investments, Daniel Pilotti, Nordic
Makers and 8 other Investors
Upgraded to SOONICORN
IO Biotech (2014, Copenhagen, $155M, Series B)
Developer of vaccine for the treatment of cancer
Idinvest Partners, Soleus Capital, Lundbeck Foundation
and 11 other Investors
Upgraded to SOONICORN
Too Good To Go (2016, Copenhagen, $31.6M, Series
B)
App-based platform for surplus food discovery
Damgaard Company AS,Blisceand
Upgraded to MINICORN
Volta Trucks (2019, Sigtuna, $20.0M, Series B)
Developer of electric trucks
Builder Anders J Ahlström Holding AB,SynerLeap,Luxor
Capital Groupand
Upgraded to MINICORN
CanopyLAB (2015, Copenhagen, $3.0M, Series A)
Interactive learning platform for corporates and NGOs
CBS Startup, Laila Pawlak, Growth Fund and 6 other
Investors
Upgraded to MINICORN
Sanalabs (2016, Stockholm, $18.0M, Series A)
Plugin tools for digital learning
Max Ventures, Letsie Venture Capital, Leksell Social
Ventures and 2 other Investors
Upgraded to MINICORN
CodeScene (2015, Malmo, $3.6M, Series A)
Cloud-based predictive analytics and visualization tool
Luminar Ventures,Inventureand
Upgraded to MINICORN
CHAOS (2013, Helsinki, $1.8M, Seed)
AI-based platform for urban development
Torsti Tenhunen, Nidoco, Stefan Lindberg and 4 other
Investors
Upgraded to MINICORN
NBX (1995, Oslo, $7.1M, Series A)
Cryptocurrency exchange platform
Sparebanken Ostand
Upgraded to MINICORN
Precisely (2014, Stockholm, $2.2M, Seed)
Platform to manage contracts
Peak Capital,The Springfield Project Swedenand
Upgraded to MINICORN
Sproud (2018, Malmo, $6.6M, Series A)
Brand offering pea protein-based dairy products
VGC Partnersand
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/5)
Interesting Companies identified by Analysts in Nordics Tech in January 2021
Nordics Tech: Analyst Picks
13
Added to Editor's Pick
Linkfire (2014, Copenhagen, $985K, Series A)
Marketing music using URL links
Growth Fund,Northcap Partnersand
Added to Editor's Pick
Upodi (2014, Aarhus, $414K, Seed)
Online subscription management platform for
businesses
Seed Capital,PreSeed Venturesand
Added to Editor's Pick
Meetin VR (2016, Copenhagen, $616K, Seed)
Provider of VR-based software for business meetings
and professional collaborations
PreSeed Ventures,Acceleraceand
Added to Editor's Pick
Plecto (2012, Viby, $1.7M, Seed)
Performance management for teams
Nordic Eye, Growth Fund, Jesper Buch and 1 other
Investors
Added to Editor's Pick
Evosep (2016, Odense, $1.5M, Seed)
Develops automated sample preparation instrument
for chromatography
Growth Fund,VF Ventureand
Added to Editor's Pick
MonTa Biosciences (2013, Copenhagen, $3.5M,
Series A)
Developer of liposomes to deliver immunomodulators
for the treatment of cancers
Jonas Rosager Henriksen, Novo Holdings, Accelerace
and 1 other Investors
Added to Editor's Pick
Boatflex (2014, Hellerup, $725K, Seed)
Online P2P marketplace for boat rentals
Seed Capital,Backedand
Added to Editor's Pick
Zetland (2012, Copenhagen, $458K, Seed)
Subscription based online-only news Danish
newspaper
Annemette Faerch,KickAss Capital,Stig Mykenand
Added to Editor's Pick
FaunaPhotonics (2014, Copenhagen, $3.9M, Series
A)
LiDar for fauna detection
, Accelerace, Juan Sebastian Scripps and 3 other
Investors
Added to Editor's Pick
Surgify (2015, Espoo, $1.7M, Seed)
Develops solutions to assist healthcare providers with
bone surgery
Leena Niemistö, Butterfly Ventures, Innovestor and 3
other Investors
Added to Editor's Pick
Tame (2016, Copenhagen, $1.1M, Seed)
Event planning and marketing software
Tommy Andersen, Hampus Jakobsson, Byfounders and
3 other Investors
Added to Editor's Pick
Umbraco (2002, Odense, $198K, Seed)
Content management platform
Growth Fundand
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (3/5)
Interesting Companies identified by Analysts in Nordics Tech in January 2021
Nordics Tech: Analyst Picks
14
Added to Editor's Pick
MeetinVR (2015, Copenhagen, $616K, Seed)
Provider of cloud-based mixed reality business
meetings management solutions
PreSeed Venturesand
Added to Editor's Pick
Leneo (2016, Copenhagen, $736K, Seed)
White label lease management software provider
Seed Capital,PreSeed Ventures,The Danish Agency for
Education and Researchand
Added to Editor's Pick
Flow Loop (2016, Copenhagen, $122K, Seed)
Provider of smart water solutions
Acceleraceand
Added to Editor's Pick
GamerzClass (2019, Copenhagen, $1.0M, Seed)
Provider of e-gaming courses
TrueSight Ventures,Bumble Venturesand
Added to Editor's Pick
VAR2 Pharmaceuticals (2012, Copenhagen, $9.3M,
Series A)
Developing therapeutics targeting distinct
carbohydrates relevant for cancer invasion and growth.
Innovationsfonden,The University of Copenhagenand
Added to Editor's Pick
RetinaRisk (2013, Reykjavik, $1.8M, Seed)
Provider of decision support system for point of care
risk assessment for diabetes retinopathy
Iceland Venture Studioand
Added to Editor's Pick
HiveOnline (2016, Copenhagen, $120K, Seed)
Decentralized financial trust platform for SMEs
Techstars,Inclusive Fintech 50,Sebbotand
Added to Editor's Pick
Eupry (2014, Copenhagen, $81.5K, Seed)
Temperature logging and monitoring solution for cold
chain
Accelerace,Steen Ulf Jensenand
Added to Editor's Pick
Triband (2015, Copenhagen, $12.8K, Seed)
Video game developer for mobile, console and VR
devices
Keld Erdmann Reinicke,Capnovaand
Added to Editor's Pick
Avilex Pharma (2012, Copenhagen, $2.7M, Grant
(prize money))
Dimeric peptide to treat ischemic stroke, which targets
postsynaptic density protein 95 (PSD-95).
Novo Holdings,Wellcome Trust,Mikael Thomsenand
Added to Editor's Pick
ooono (2017, Brondby Strand, $2.0M, Seed)
Provider of a user-based wireless device that provides
traffic information
André Bengt Medborg,Guerrilla Capitaland
Added to Editor's Pick
Opeepl (2009, Copenhagen, $180K, Seed)
Mobile based market research company
Sortedam, Per Moller, 70Ventures and 3 other
Investors
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (4/5)
Interesting Companies identified by Analysts in Nordics Tech in January 2021
Nordics Tech: Analyst Picks
15
Added to Editor's Pick
Nordluft (2018, Stockholm, $170K, Seed)
Provider of solutions to enable drone logistics for
heavy payloads
EIT InnoEnergyand
Added to Editor's Pick
Mirrx Therapeutics (2009, Lyngby, $2.0M, Seed)
Developer of microRNA-blocking oligonucleotides for
cancer, cardiovascular, immunological and viral
diseases
Seed Capital, Hans Thorleif Møller, Vecata and 2 other
Investors
Added to Editor's Pick
Suma Care (2011, Odense, $1.7M, Seed)
Provider of smart sensor-based device for caregivers to
alert for diaper change
inQvation, Fredrik Tuxen, Welfare Tech Invest and 3
other Investors
Added to Editor's Pick
SaniNudge (2015, Frederiksberg, $318K, Seed)
Provider of sensor based technology for hand hygiene
monitoring
inQvation,Acceleraceand
Added to Editor's Pick
TracInnovations (2015, Ballerup, $2.3M, Series A)
Developer of motion tracking and correct for MRI and
PET imaging devices
Dale Flanders, Syddansk Innovation, Jes Broeng and 4
other Investors
Added to Editor's Pick
Curb Food (2020, Stockholm, $3.9M, Series A)
Internet first restaurants offering multiple food
products
EQT Venturesand
Added to Editor's Pick
Curasight (2013, Copenhagen, $7.4M, Series A)
Developer of PET ligands for breast cancer indications
PreSeed Venturesand
Added to Editor's Pick
GlycoSpot (2014, Frederiksberg, $2.3M, Seed)
Provider of solutions for high throughput enzyme
screening
Spring Nordic,Capnovaand
Added to Editor's Pick
MiraiEx (2017, Oslo, $556K, Seed)
Exchange platform focused on cryptocurrencies
Skyfall Ventures, Henrik Langeland, Sean Percival and 3
other Investors
Added to Editor's Pick
Dezide (2001, Aalborg, $212K, Seed)
Artificial intelligence based software for guided
troubleshooting
Added to Editor's Pick
Capitainer (2016, Stockholm, $3.7M, Series A)
Developer of a volumetric blood collection device for
sample collection
Sciety,Consumer Healthand
Added to Editor's Pick
Gonio VR (2017, Copenhagen, $6.1K, Seed)
Provider of virtual reality based rehabilitation solution
Acceleraceand
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (5/5)
Interesting Companies identified by Analysts in Nordics Tech in January 2021
Nordics Tech: Analyst Picks
16
Added to Editor's Pick
TakeDaily (2016, Copenhagen, $396K, Seed)
Provider of tailor made supplements as per individual
needs
Lars Prieme,Capnovaand
Added to Editor's Pick
ElastiSense (2016, Aabenraa, $243K, Seed)
Manufacturer of displacement sensor
The Danish Agency for Education and
Research,Syddansk Innovation,Christian Nielsens
Fondand
Added to Editor's Pick
ActionPlanner (2013, Hellerup, $179K, Angel)
Strategy execution and performance management web
application
Christian Seidelin,Klaus Bodilsenand
Added to Editor's Pick
Prosys OPC (1995, Espoo, Unfunded)
Prosys OPC
Added to Editor's Pick
Ouriginal (2020, Stockholm, Unfunded)
Provider of a learning management system
Procuritasand
Added to Editor's Pick
FossID (2016, Stockholm, Unfunded)
Provider of open source compliance and security tools
Added to Editor's Pick
Iagon (2017, Hamar, Unfunded)
Decentralized Supercomputers solutions
Added to Editor's Pick
Solution Seeker (2013, Oslo, Unfunded)
AI-driven well analytics solutions provider
Added to Editor's Pick
Deepinsight (2017, Oslo, Unfunded)
AI-enabled personal finance management solutions for
banks
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
06 Jan 2021
Stillfront (2004, Stockholm, $12.8M)
Game developer and publisher
LON:0A2A
IPOs
List of IPOs in Nordics Tech in January 2021
Nordics Tech: IPOs
17
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Nordics Tech in January 2021
Nordics Tech: Acquisitions
18
Acq. Date Company Acquirer Deal Size
05 Jan 2021
Checkout(2011, Tampere)
Payment service provider
Paytrail
06 Jan 2021
Netop(1982, Birkeroed)
Classroom management solution
Impero Software
11 Jan 2021
Artec Aqua(2002, Alesund)
Developer of land-based aquaculture farming solution
endur.no $80.6M
15 Jan 2021
Com4(2011, Oslo)
Provider of cellular connectivity solutions for IoT applications
Wireless Logic
18 Jan 2021
Detail Online(2015, Stockholm)
Providing solution to identify failures in the stores
inRiver
25 Jan 2021
Sulake(2000, Helsinki, $11.7M)
Finnish game development company
Azerion
27 Jan 2021
Handicare(1986, Kista)
Products for transfer lifting and occupational safety
Savaria $409.7M
28 Jan 2021
Peakon(2015, London, $116.7M)
SaaS-based analytics platform for employee engagement and
retention
Workday $700.0M
29 Jan 2021
Deltagon(1999, Helsinki)
Encryption and secure email gateway based email security &
secure forms solution
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Nordics Tech in January 2021
Nordics Tech:News
19
Exit News
.
● Triple Queen’s Award Winner Acquired Insider Media
.
● Sweden's Trustly plans $11 billion IPO as digital payments boom Reuters
.
● Opera buys YoYo Games for ~10M Seeking Alpha
.
● Tytex A/S was acquired by Zefyr Invest. Nordic 9
.
● Dun & Bradstreet buys Bisnode Research Live
.
● KVM gets acquired by Zefyr Invest Nordic 9
.
● Azerion fully acquires Habbo Hotel dev Sulake Pocket Gamer
.
● Nets acquires Checkout Finland through Paytrail subsidiary FinTech Futures
.
People News
.
● Sponda has appointed a new Chief Operating Officer and Chief Financial
Officer GlobeNewswire
.
● Truecaller appoints Odd Bolin as CFO People Matters
● Hans van't Hoff is Chief Operations Officer GlobeNewswire
.
● Honkarakenne Vice President, Finance - Cfo Leena Aalto Transfers To Another
Employer GlobeNewswire
.
● Truecaller Appoints Odd Bolin as CFO before probable IPO in 2021 CyberMedia
India Online
.
● Rickard Gustafson appointed President and CEO PR Newswire
.
● Michael Moesgaard Andersen, who is an investor in Penneo and Konsolidator,
invests in Agillic A/S and will joi... GlobeNewswire
.
Company News
.
● Occlutech's Atrial Flow Regulator (AFR) Receives U.S. FDA Breakthrough
Device Designation for Heart Failure (HF) CNW
.
● Ascendis Pharma A/S Announces Filing of Investigational New Drug
Application to Initiate TransCon™ TLR7/8 Agon... GlobeNewswire
.
● Sysmex America to Distribute CellaVision DC-1 Analyzer to Hematology Labs
360Dx
.
● Genmab Announces that Janssen has been Granted U.S. FDA Approval for
DARZALEX FASPRO® (daratumumab and hyaluro... GlobeNewswire
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (2/2)
Recent News in Nordics Tech in January 2021
Nordics Tech:News
20
● UNION therapeutics A/S receives FDA approval for IND of oral next generation
PDE4-inhibitor (orismilast) for i... pipelinereview.com
.
Regulatory News
.
● Wameja Gets Indemnity Notice From Seamless Distribution ADVFN
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Deadpooled Companies
Index of companies in Nordics Tech which became deadpooled in 01 2021
Nordics Tech: Deadpooled Companies
21
Funding Company Location
$ 293K SokMig.dk
View 1 Deadpooled company on Tracxn Platform
Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Nordics Tech on Tracxn Platform
Nordics Tech: Explore more on Tracxn Platform
22
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Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Nordics
AI Companies in Nordics
Fintech Companies Nordics
Consumer Digital in Nordics
Company Due Diligence
Detailed profile of Northvolt
Competitors of Klarna
Cap Tables of Tradeshift
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Tracxn - Geo - Nordics Tech - Jan 2021

  • 1. TRACXN MONTHLY REPORT JANUARY 2021 NORDICS TECH
  • 2. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Contents 2 Nordics Tech Snapshot 3 Investment Snapshot 4 List of Funding Rounds 5 New Investors 9 Top Funded Business Models - last 1 year 11 New Analyst Picks 12 IPOs 17 Acquisitions 18 Recent News 19 Deadpooled Companies 21
  • 3. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Nordics Tech Snapshot – January 2021 Nordics Tech: Snapshot – January 2021 Note : "Investors" refers to "Institutional Investors" only 3 $1.1B 23 1 Overall Geo Stats 20 9 67 56 33 Funding Rounds $ Invested Analyst Picks Budbee Upgraded to SOONICORN New Investors nineyardsequity Klaveness Marine Series A+ rounds Active Investors IPOs Stillfront Acquisitions Checkout#@ Netop#@ Top Funding Rounds Top Markets Top Investors Top Cities Monthly Leader Board Stockholm (7 Rounds, $92.5M) Helsinki (6 Rounds, $561M) Copenhagen (5 Rounds, $221M) Espoo (2 Rounds, $17.7M) $535M - Series E Wolt (2014, Helsinki, $860M) $154M - Series B IO Biotech (2014, Copenhagen, $175M) $71M - Series C Everfuel (2005, Herning, $110M) $63.3M - Series C Budbee (2015, Stockholm, $112M) Blisce (2 Investments) EQT Ventures (2 Investments) Icebreaker (2 Investments) Luminar Ventures (2 Investments) Food Tech Wolt Logistics Tech Budbee Oncology IO Biotech Energy Storage Tech Everfuel Market Size Companies Covered 13,507 Funded Companies 5,343 Total Funding $45.7B Funding in last 12 months $7.7B Top Exits IPOs 336 Acquisitions 1,164 Company Stage Unicorns 4 Soonicorns 74 Minicorns 405 Editor Picks 1,616 Series A+ 1,204 Series C+ 266 Acqui-Hires 5 Deadpooled 993 Top Cities Stockholm (1,096 Rounds, $10.6B) Copenhagen (892 Rounds, $13.8B) Top Investors Almi Invest (265 Investments) Accelerace (102 Investments)
  • 4. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Investment Snapshot Investment Snapshot of Nordics Tech as of January 2021 Nordics Tech: Investment Snapshot 4 # Rounds $ Funding Investment Trend Top Investments (January 2021)* Wolt (2014, Helsinki, $860M) $536M - Series E ICONIQ Capital IO Biotech (2014, Copenhagen, $175M) $155M - Series B Vivo Capital Everfuel (2005, Herning, $110M) $71.0M - Series C Budbee (2015, Stockholm, $112M) $63.3M - Series C AMF Too Good To Go (2015, Copenhagen, $42.6M) $62.7M - Series B Blisce Proximar Seafood (2015, Bergen, $49.3M) $49.3M - Series C Espen Aubert Volta Trucks (2019, Sigtuna, $20.0M) $20.0M - Series B Luxor Capital Group Minna Technologies (2016, Gothenburg, $28.0M) $18.9M - Series B Element Ventures Sanalabs (2016, Stockholm, $23.0M) $18.0M - Series A EQT Ventures Flowhaven (2016, Espoo, $21.5M) $16.0M - Series A Global Founders Capital Zyfra (2017, Helsinki, $13.4M) $13.4M - Series A Veb.ventures *Shows only the lead Investors
  • 5. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. List of Funding Rounds (1/4) List of Funding Rounds in Nordics Tech in January 2021 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 5 LATE STAGE $49.3M - Series C Proximar Seafood (2015, Bergen, $49.3M) Producer of fish using sustainable RAS farming solution Nutreco, DNB, T D Veen, Klaveness Marine, Fondsfinans, and 2 more LATE STAGE $63.3M - Series C Budbee (2015, Stockholm, $112.1M) Provider of scheduled e-commerce delivery services AMF LATE STAGE $71.0M - Series C Everfuel (2005, Herning, $109.7M) Providing hydrogen fueling solutions LATE STAGE $535.5M - Series E Wolt (2014, Helsinki, $860.4M) Online platform for food ordering and on-demand hyperlocal delivery ICONIQ Capital, Prosus, Vintage Investment Partners, KKR, Coatue, and 7 more EARLY STAGE $284.4K - Series A Safello (2013, Stockholm, $1.4M) Exchange platform for cryptocurrencies EARLY STAGE $3.0M - Series A Collective Minds Radiology (2017, Taby, $3.0M) Provider of cloud-based decision support software for radiologists Brightly Ventures, Crista Galli Ventures, Mikael Kjellman EARLY STAGE $3.0M - Series A CanopyLAB (2015, Copenhagen, $3.0M) Interactive learning platform for corporates and NGOs Sparkmind.vc, EARLY STAGE $3.6M - Series A CodeScene (2015, Malmo, $3.6M) Cloud-based predictive analytics and visualization tool Inventure, Luminar Ventures EARLY STAGE $3.7M - Series A Capitainer (2016, Stockholm, $5.3M) Developer of a volumetric blood collection device for sample collection Sciety
  • 6. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. List of Funding Rounds (2/4) List of Funding Rounds in Nordics Tech in January 2021 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 6 EARLY STAGE $5.0M - Series A Filestar (2019, Stockholm, $5.0M) Web-based file conversion software HashKey Capital EARLY STAGE $6.1M - Series A Leadoo (2018, Helsinki, $9.4M) Conversational lead generation platform Springvest, OpenOcean EARLY STAGE $6.6M - Series A Sproud (2018, Malmo, $12.0M) Brand offering pea protein-based dairy products VGC Partners EARLY STAGE $7.1M - Series A NBX (1995, Oslo, $8.7M) Cryptocurrency exchange platform EARLY STAGE $10.0M - Series B Critical Force (2012, Kajaani, $20.8M) Mobile game development studio EARLY STAGE $13.4M - Series A Zyfra (2017, Helsinki, $13.4M) Develops robots, AI, and IIoT based solutions for mining industries Veb.ventures EARLY STAGE $16.0M - Series A Flowhaven (2016, Espoo, $21.5M) Cloud-based license management solutions Sapphire Ventures, Global Founders Capital, Icebreaker EARLY STAGE $18.0M - Series A Sanalabs (2016, Stockholm, $23.0M) Plugin tools for digital learning EQT Ventures EARLY STAGE $18.9M - Series B Minna Technologies (2016, Gothenburg, $28.0M) White-label subscription management platform Element Ventures, nineyardsequity, MiddleGame Ventures, Visa EARLY STAGE $20.0M - Series B Volta Trucks (2019, Sigtuna, $20.0M) Developer of electric trucks Luxor Capital Group, Builder Anders J Ahlström Holding AB EARLY STAGE $31.1M - Series A Too Good To Go (2015, Copenhagen, $42.6M) Online platform for ordering excess food Blisce
  • 7. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. List of Funding Rounds (3/4) List of Funding Rounds in Nordics Tech in January 2021 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 7 EARLY STAGE $31.6M - Series B Too Good To Go (2016, Copenhagen, $86.6M) App-based platform for surplus food discovery Blisce EARLY STAGE $154.5M - Series B IO Biotech (2014, Copenhagen, $175.3M) Developer of vaccine for the treatment of cancer HBM Healthcare Investments, Kurma Partners, Samsara, Partner Fund Management, Sunstone, and 8 more EARLY STAGE Series B Refunder (2013, Stockholm, $4.0M) Online platform offering cashback on online purchases SEED STAGE $1.2M - Seed Oveo (2019, Copenhagen, $1.5M) Cloud-based spend management software provider Growth Fund, PreSeed Ventures, Ole Andersen SEED STAGE $1.7M - Seed Surgify (2015, Espoo, $1.7M) Develops solutions to assist healthcare providers with bone surgery Innovestor, Leena Niemistö, Peter Lindell SEED STAGE $1.8M - Seed RetinaRisk (2013, Reykjavik, $1.8M) Provider of decision support system for point of care risk assessment for diabetes retinopathy SEED STAGE $1.8M - Seed CHAOS (2013, Helsinki, $2.1M) AI-based platform for urban development Nidoco, Alexander Ehrnrooth, Kai Keituri, Tapio Heikkila, Stefan Lindberg SEED STAGE $1.8M - Seed Calqulate (2019, Helsinki, $1.8M) Cloud-based financial forecasting & budgeting software for businesses Maki.vc, , River Venture Partners SEED STAGE $2.2M - Seed Precisely (2014, Stockholm, $2.2M) Platform to manage contracts Peak Capital
  • 8. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. List of Funding Rounds (4/4) List of Funding Rounds in Nordics Tech in January 2021 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 8 SEED STAGE $2.4M - Seed Hack your closet (2019, , $2.8M) Online platform offering pre-owned personalized fashion apparel Pale Blue Dot, Luminar Ventures, J12 Ventures SEED STAGE $2.5M - Seed IPRally (2016, Helsinki, $2.9M) Patent analytics and search engine for patent attorneys and examiners Join Capital, Spintop Ventures, Icebreaker SEED STAGE Seed IntuiCell (2020, Lund) Provider of an AI-based computation technology that imitates brain intelligence SEED STAGE Seed Encode (2001, Odense) Marketing campaign management solution Viking Venture
  • 9. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Investors (1/2) List of New Investors in Nordics Tech in January 2021 Nordics Tech: List of New Investors 9 Investor Company Info Round Amount Round Name nineyardsequity 1 portfolio companies | Venture capital firm investing in tech sectors Minna Technologies White-label subscription management platform $18.88M Series B Klaveness Marine 3 portfolio companies | International capital market & Nordic region focused PE firm Proximar Seafood Producer of fish using sustainable RAS farming solution $49.33M Series C Join Capital 20 portfolio companies | Early-stage centric tech-focused VC firm funding companies in Europe IPRally Patent analytics and search engine for patent attorneys and examiners $2.46M Seed Sapphire Ventures 226 portfolio companies | Expansion & early stage VC firm investinmg in the US, Europe and Israel Flowhaven Cloud-based license management solutions $16.00M Series A Avoro Capital Advisors 6 portfolio companies | Venture capital fund focused on biotechnology startups IO Biotech Developer of vaccine for the treatment of cancer $154M Series B Prosus 16 portfolio companies | Venture capital firm investing in tech companies Wolt Online platform for food ordering and on-demand hyperlocal delivery $535M Series E Element Ventures 1 portfolio companies | Venture capital firm focused on fintech sector Minna Technologies White-label subscription management platform $18.88M Series B MiddleGame Ventures 9 portfolio companies | Venture capital firm investing in early-stage fin-tech startups Minna Technologies White-label subscription management platform $18.88M Series B Crista Galli Ventures 3 portfolio companies | Venture capital fund focused on healthcare startups Collective Minds Radiology Provider of cloud-based decision support software for radiologists $3.03M Series A Fondsfinans 1 portfolio companies | Fondsfinans Kapitalforvaltning - Aksje-, rente- og kombinasjonsfond. Proximar Seafood Producer of fish using sustainable RAS farming solution $49.33M Series C
  • 10. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Investors (2/2) List of New Investors in Nordics Tech in January 2021 Nordics Tech: List of New Investors 10 Investor Company Info Round Amount Round Name ICONIQ Capital 7 portfolio companies | Home - ICONIQ Growth Wolt Online platform for food ordering and on-demand hyperlocal delivery $535M Series E toponlinepartners.com 1 portfolio companies | Top Online Partners » Top Online Partners Group Refunder Online platform offering cashback on online purchases Undisclosed Series B Peak Capital 28 portfolio companies | Tech-focused early stage VC Firm investing primarily in Europe Precisely Platform to manage contracts $2.18M Seed Nutreco 5 portfolio companies | Produces and supplies animal and fish feed Proximar Seafood Producer of fish using sustainable RAS farming solution $49.33M Series C HashKey Capital 14 portfolio companies | Venture capital fund focused on fintech startups Filestar Web-based file conversion software $5.00M Series A Builder Anders J Ahlström Holding AB 1 portfolio companies | Property development company Volta Trucks Developer of electric trucks $20.00M Series B VGC Partners 1 portfolio companies | VC firm providing growth equity for startups focusing on the consumer & media sectors Sproud Brand offering pea protein-based dairy products $6.57M Series A Samsara 42 portfolio companies | Venture capital firm in California IO Biotech Developer of vaccine for the treatment of cancer $154M Series B Blisce 8 portfolio companies | US focused early stage venture capital firm Too Good To Go Online platform for ordering excess food $31.10M Series A KKR 148 portfolio companies | Private equity investment firm focused on growth stage companies Wolt Online platform for food ordering and on-demand hyperlocal delivery $535M Series E
  • 11. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private 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. 11 Rank Business Model $ Funding # Rounds Top Funding Round 1 -- Esports League Organizers $1.9B 2 BLAST Pro Ser.. | $1.9B | Series D 2 ▲4 Online Food Delivery $654M 3 Wolt | $536M | Series E 3 ▼-1 Internet First Direct Lender Purchase Financing $650M 3 Klarna | $650M | Series G 4 ▼-3 Lithium Ion Batteries $600M 1 Northvolt | $600M | Series C 5 ▲146 Food Tech > Novel Foods > Food Products > Dairy Substitute > Plant Based $200M 1 Oatly | $200M | Series C 6 ▲2 Free Float Electric Kick Scooter Rentals $136M 2 Voi | $107M | Series C 7 ▲150 Direct Home Buying $117M 1 Kodit.io | $117M | Series B 8 -- Alternative Lending > Online Lenders > Consumer Loans > Personal Loans > Marketplace > P2P $115M 1 Lendify Sweden | $115M | Series D 9 ▼-2 Open Banking Aggregation APIs $107M 2 Tink | $103M | Series E 10 ▲75 Hydrogen Fueling $102M 4 Everfuel | $71.0M | Series C
  • 12. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Analyst Picks (1/5) Interesting Companies identified by Analysts in Nordics Tech in January 2021 Nordics Tech: Analyst Picks 12 Upgraded to SOONICORN Budbee (2015, Stockholm, $63.3M, Series C) Provider of scheduled e-commerce delivery services Club Network Investments, Daniel Pilotti, Nordic Makers and 8 other Investors Upgraded to SOONICORN IO Biotech (2014, Copenhagen, $155M, Series B) Developer of vaccine for the treatment of cancer Idinvest Partners, Soleus Capital, Lundbeck Foundation and 11 other Investors Upgraded to SOONICORN Too Good To Go (2016, Copenhagen, $31.6M, Series B) App-based platform for surplus food discovery Damgaard Company AS,Blisceand Upgraded to MINICORN Volta Trucks (2019, Sigtuna, $20.0M, Series B) Developer of electric trucks Builder Anders J Ahlström Holding AB,SynerLeap,Luxor Capital Groupand Upgraded to MINICORN CanopyLAB (2015, Copenhagen, $3.0M, Series A) Interactive learning platform for corporates and NGOs CBS Startup, Laila Pawlak, Growth Fund and 6 other Investors Upgraded to MINICORN Sanalabs (2016, Stockholm, $18.0M, Series A) Plugin tools for digital learning Max Ventures, Letsie Venture Capital, Leksell Social Ventures and 2 other Investors Upgraded to MINICORN CodeScene (2015, Malmo, $3.6M, Series A) Cloud-based predictive analytics and visualization tool Luminar Ventures,Inventureand Upgraded to MINICORN CHAOS (2013, Helsinki, $1.8M, Seed) AI-based platform for urban development Torsti Tenhunen, Nidoco, Stefan Lindberg and 4 other Investors Upgraded to MINICORN NBX (1995, Oslo, $7.1M, Series A) Cryptocurrency exchange platform Sparebanken Ostand Upgraded to MINICORN Precisely (2014, Stockholm, $2.2M, Seed) Platform to manage contracts Peak Capital,The Springfield Project Swedenand Upgraded to MINICORN Sproud (2018, Malmo, $6.6M, Series A) Brand offering pea protein-based dairy products VGC Partnersand
  • 13. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Analyst Picks (2/5) Interesting Companies identified by Analysts in Nordics Tech in January 2021 Nordics Tech: Analyst Picks 13 Added to Editor's Pick Linkfire (2014, Copenhagen, $985K, Series A) Marketing music using URL links Growth Fund,Northcap Partnersand Added to Editor's Pick Upodi (2014, Aarhus, $414K, Seed) Online subscription management platform for businesses Seed Capital,PreSeed Venturesand Added to Editor's Pick Meetin VR (2016, Copenhagen, $616K, Seed) Provider of VR-based software for business meetings and professional collaborations PreSeed Ventures,Acceleraceand Added to Editor's Pick Plecto (2012, Viby, $1.7M, Seed) Performance management for teams Nordic Eye, Growth Fund, Jesper Buch and 1 other Investors Added to Editor's Pick Evosep (2016, Odense, $1.5M, Seed) Develops automated sample preparation instrument for chromatography Growth Fund,VF Ventureand Added to Editor's Pick MonTa Biosciences (2013, Copenhagen, $3.5M, Series A) Developer of liposomes to deliver immunomodulators for the treatment of cancers Jonas Rosager Henriksen, Novo Holdings, Accelerace and 1 other Investors Added to Editor's Pick Boatflex (2014, Hellerup, $725K, Seed) Online P2P marketplace for boat rentals Seed Capital,Backedand Added to Editor's Pick Zetland (2012, Copenhagen, $458K, Seed) Subscription based online-only news Danish newspaper Annemette Faerch,KickAss Capital,Stig Mykenand Added to Editor's Pick FaunaPhotonics (2014, Copenhagen, $3.9M, Series A) LiDar for fauna detection , Accelerace, Juan Sebastian Scripps and 3 other Investors Added to Editor's Pick Surgify (2015, Espoo, $1.7M, Seed) Develops solutions to assist healthcare providers with bone surgery Leena Niemistö, Butterfly Ventures, Innovestor and 3 other Investors Added to Editor's Pick Tame (2016, Copenhagen, $1.1M, Seed) Event planning and marketing software Tommy Andersen, Hampus Jakobsson, Byfounders and 3 other Investors Added to Editor's Pick Umbraco (2002, Odense, $198K, Seed) Content management platform Growth Fundand
  • 14. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Analyst Picks (3/5) Interesting Companies identified by Analysts in Nordics Tech in January 2021 Nordics Tech: Analyst Picks 14 Added to Editor's Pick MeetinVR (2015, Copenhagen, $616K, Seed) Provider of cloud-based mixed reality business meetings management solutions PreSeed Venturesand Added to Editor's Pick Leneo (2016, Copenhagen, $736K, Seed) White label lease management software provider Seed Capital,PreSeed Ventures,The Danish Agency for Education and Researchand Added to Editor's Pick Flow Loop (2016, Copenhagen, $122K, Seed) Provider of smart water solutions Acceleraceand Added to Editor's Pick GamerzClass (2019, Copenhagen, $1.0M, Seed) Provider of e-gaming courses TrueSight Ventures,Bumble Venturesand Added to Editor's Pick VAR2 Pharmaceuticals (2012, Copenhagen, $9.3M, Series A) Developing therapeutics targeting distinct carbohydrates relevant for cancer invasion and growth. Innovationsfonden,The University of Copenhagenand Added to Editor's Pick RetinaRisk (2013, Reykjavik, $1.8M, Seed) Provider of decision support system for point of care risk assessment for diabetes retinopathy Iceland Venture Studioand Added to Editor's Pick HiveOnline (2016, Copenhagen, $120K, Seed) Decentralized financial trust platform for SMEs Techstars,Inclusive Fintech 50,Sebbotand Added to Editor's Pick Eupry (2014, Copenhagen, $81.5K, Seed) Temperature logging and monitoring solution for cold chain Accelerace,Steen Ulf Jensenand Added to Editor's Pick Triband (2015, Copenhagen, $12.8K, Seed) Video game developer for mobile, console and VR devices Keld Erdmann Reinicke,Capnovaand Added to Editor's Pick Avilex Pharma (2012, Copenhagen, $2.7M, Grant (prize money)) Dimeric peptide to treat ischemic stroke, which targets postsynaptic density protein 95 (PSD-95). Novo Holdings,Wellcome Trust,Mikael Thomsenand Added to Editor's Pick ooono (2017, Brondby Strand, $2.0M, Seed) Provider of a user-based wireless device that provides traffic information André Bengt Medborg,Guerrilla Capitaland Added to Editor's Pick Opeepl (2009, Copenhagen, $180K, Seed) Mobile based market research company Sortedam, Per Moller, 70Ventures and 3 other Investors
  • 15. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Analyst Picks (4/5) Interesting Companies identified by Analysts in Nordics Tech in January 2021 Nordics Tech: Analyst Picks 15 Added to Editor's Pick Nordluft (2018, Stockholm, $170K, Seed) Provider of solutions to enable drone logistics for heavy payloads EIT InnoEnergyand Added to Editor's Pick Mirrx Therapeutics (2009, Lyngby, $2.0M, Seed) Developer of microRNA-blocking oligonucleotides for cancer, cardiovascular, immunological and viral diseases Seed Capital, Hans Thorleif Møller, Vecata and 2 other Investors Added to Editor's Pick Suma Care (2011, Odense, $1.7M, Seed) Provider of smart sensor-based device for caregivers to alert for diaper change inQvation, Fredrik Tuxen, Welfare Tech Invest and 3 other Investors Added to Editor's Pick SaniNudge (2015, Frederiksberg, $318K, Seed) Provider of sensor based technology for hand hygiene monitoring inQvation,Acceleraceand Added to Editor's Pick TracInnovations (2015, Ballerup, $2.3M, Series A) Developer of motion tracking and correct for MRI and PET imaging devices Dale Flanders, Syddansk Innovation, Jes Broeng and 4 other Investors Added to Editor's Pick Curb Food (2020, Stockholm, $3.9M, Series A) Internet first restaurants offering multiple food products EQT Venturesand Added to Editor's Pick Curasight (2013, Copenhagen, $7.4M, Series A) Developer of PET ligands for breast cancer indications PreSeed Venturesand Added to Editor's Pick GlycoSpot (2014, Frederiksberg, $2.3M, Seed) Provider of solutions for high throughput enzyme screening Spring Nordic,Capnovaand Added to Editor's Pick MiraiEx (2017, Oslo, $556K, Seed) Exchange platform focused on cryptocurrencies Skyfall Ventures, Henrik Langeland, Sean Percival and 3 other Investors Added to Editor's Pick Dezide (2001, Aalborg, $212K, Seed) Artificial intelligence based software for guided troubleshooting Added to Editor's Pick Capitainer (2016, Stockholm, $3.7M, Series A) Developer of a volumetric blood collection device for sample collection Sciety,Consumer Healthand Added to Editor's Pick Gonio VR (2017, Copenhagen, $6.1K, Seed) Provider of virtual reality based rehabilitation solution Acceleraceand
  • 16. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. New Analyst Picks (5/5) Interesting Companies identified by Analysts in Nordics Tech in January 2021 Nordics Tech: Analyst Picks 16 Added to Editor's Pick TakeDaily (2016, Copenhagen, $396K, Seed) Provider of tailor made supplements as per individual needs Lars Prieme,Capnovaand Added to Editor's Pick ElastiSense (2016, Aabenraa, $243K, Seed) Manufacturer of displacement sensor The Danish Agency for Education and Research,Syddansk Innovation,Christian Nielsens Fondand Added to Editor's Pick ActionPlanner (2013, Hellerup, $179K, Angel) Strategy execution and performance management web application Christian Seidelin,Klaus Bodilsenand Added to Editor's Pick Prosys OPC (1995, Espoo, Unfunded) Prosys OPC Added to Editor's Pick Ouriginal (2020, Stockholm, Unfunded) Provider of a learning management system Procuritasand Added to Editor's Pick FossID (2016, Stockholm, Unfunded) Provider of open source compliance and security tools Added to Editor's Pick Iagon (2017, Hamar, Unfunded) Decentralized Supercomputers solutions Added to Editor's Pick Solution Seeker (2013, Oslo, Unfunded) AI-driven well analytics solutions provider Added to Editor's Pick Deepinsight (2017, Oslo, Unfunded) AI-enabled personal finance management solutions for banks
  • 17. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. IPO Date Company IPO Mcap Exchange Ticker 06 Jan 2021 Stillfront (2004, Stockholm, $12.8M) Game developer and publisher LON:0A2A IPOs List of IPOs in Nordics Tech in January 2021 Nordics Tech: IPOs 17
  • 18. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Acquisitions List of Acquisitions in Nordics Tech in January 2021 Nordics Tech: Acquisitions 18 Acq. Date Company Acquirer Deal Size 05 Jan 2021 Checkout(2011, Tampere) Payment service provider Paytrail 06 Jan 2021 Netop(1982, Birkeroed) Classroom management solution Impero Software 11 Jan 2021 Artec Aqua(2002, Alesund) Developer of land-based aquaculture farming solution endur.no $80.6M 15 Jan 2021 Com4(2011, Oslo) Provider of cellular connectivity solutions for IoT applications Wireless Logic 18 Jan 2021 Detail Online(2015, Stockholm) Providing solution to identify failures in the stores inRiver 25 Jan 2021 Sulake(2000, Helsinki, $11.7M) Finnish game development company Azerion 27 Jan 2021 Handicare(1986, Kista) Products for transfer lifting and occupational safety Savaria $409.7M 28 Jan 2021 Peakon(2015, London, $116.7M) SaaS-based analytics platform for employee engagement and retention Workday $700.0M 29 Jan 2021 Deltagon(1999, Helsinki) Encryption and secure email gateway based email security & secure forms solution
  • 19. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Recent News (1/2) Recent News in Nordics Tech in January 2021 Nordics Tech:News 19 Exit News . ● Triple Queen’s Award Winner Acquired Insider Media . ● Sweden's Trustly plans $11 billion IPO as digital payments boom Reuters . ● Opera buys YoYo Games for ~10M Seeking Alpha . ● Tytex A/S was acquired by Zefyr Invest. Nordic 9 . ● Dun & Bradstreet buys Bisnode Research Live . ● KVM gets acquired by Zefyr Invest Nordic 9 . ● Azerion fully acquires Habbo Hotel dev Sulake Pocket Gamer . ● Nets acquires Checkout Finland through Paytrail subsidiary FinTech Futures . People News . ● Sponda has appointed a new Chief Operating Officer and Chief Financial Officer GlobeNewswire . ● Truecaller appoints Odd Bolin as CFO People Matters ● Hans van't Hoff is Chief Operations Officer GlobeNewswire . ● Honkarakenne Vice President, Finance - Cfo Leena Aalto Transfers To Another Employer GlobeNewswire . ● Truecaller Appoints Odd Bolin as CFO before probable IPO in 2021 CyberMedia India Online . ● Rickard Gustafson appointed President and CEO PR Newswire . ● Michael Moesgaard Andersen, who is an investor in Penneo and Konsolidator, invests in Agillic A/S and will joi... GlobeNewswire . Company News . ● Occlutech's Atrial Flow Regulator (AFR) Receives U.S. FDA Breakthrough Device Designation for Heart Failure (HF) CNW . ● Ascendis Pharma A/S Announces Filing of Investigational New Drug Application to Initiate TransCon™ TLR7/8 Agon... GlobeNewswire . ● Sysmex America to Distribute CellaVision DC-1 Analyzer to Hematology Labs 360Dx . ● Genmab Announces that Janssen has been Granted U.S. FDA Approval for DARZALEX FASPRO® (daratumumab and hyaluro... GlobeNewswire
  • 20. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Recent News (2/2) Recent News in Nordics Tech in January 2021 Nordics Tech:News 20 ● UNION therapeutics A/S receives FDA approval for IND of oral next generation PDE4-inhibitor (orismilast) for i... pipelinereview.com . Regulatory News . ● Wameja Gets Indemnity Notice From Seamless Distribution ADVFN
  • 21. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Deadpooled Companies Index of companies in Nordics Tech which became deadpooled in 01 2021 Nordics Tech: Deadpooled Companies 21 Funding Company Location $ 293K SokMig.dk View 1 Deadpooled company on Tracxn Platform
  • 22. Nordics Tech - January 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved. Explore more on Tracxn Explore more about Nordics Tech on Tracxn Platform Nordics Tech: Explore more on Tracxn Platform 22 Companies Recent Companies Covered Funded Companies Editor's Pick Soonicorn Club SaaS Companies in Nordics AI Companies in Nordics Fintech Companies Nordics Consumer Digital in Nordics Company Due Diligence Detailed profile of Northvolt Competitors of Klarna Cap Tables of Tradeshift 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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