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1. TRACXN MONTHLY REPORT
JULY 2021
DENMARK TECH

2. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private 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
New Analyst Picks 9
Acquisitions 12
Recent News 13

3. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Denmark Tech Snapshot – July 2021
Denmark Tech: Snapshot – July 2021
Note : "Investors" refers to "Institutional Investors" only
3
$433M
4
Overall Geo Stats
12
4
20
20
5
Funding Rounds $ Invested Analyst Picks
Lunar Upgraded to
UNICORN
New Investors
Polaris Partners
Tencent
Series A+
rounds
Active Investors IPOs Acquisitions
Fertin Pharma#@
Aarhus
GeoSoftware#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Copenhagen
(2 Rounds, $178M)
Aarhus
(1 Rounds, $249M)
Soborg
(1 Rounds, $4.0M)
Frederiksberg
(1 Rounds, $1.2M)
$249M - Series D
Lunar (2015, Aarhus, $371M)
$105M - Series C
Dixa (2015, Copenhagen, $158M)
$73M - Series A
Muna Therapeutics (2020,
Copenhagen, $73M)
$4.0M - Series A
Konsolidator (2016, Soborg, $4.0M)
Seed Capital
(1 Investments)
General Atlantic
(1 Investments)
Tencent
(1 Investments)
Polaris Partners
(1 Investments)
Banking Tech
Lunar
Customer Service Software
Dixa
Neurology
Muna Therapeutics
Finance & Accounting Tech
Konsolidator
Market Size
Companies Covered 3,792
Funded Companies 1,230
Total Funding $16.8B
Funding in last 12 months $2.4B
Top Exits
IPOs 58
Acquisitions 275
Company Stage
Unicorns 4
Soonicorns 23
Minicorns 121
Editor Picks 457
Series A+ 271
Series C+ 67
Acqui-Hires 1
Deadpooled 272
Top Cities
Copenhagen (1,160 Rounds,
$11.2B)
Aarhus (149 Rounds, $744M)
Top Investors
Accelerace (138 Investments)
Seed Capital (94 Investments)

4. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Denmark Tech as of July 2021
Denmark Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (July 2021)*
Lunar
(2015, Aarhus, $371M)
$249M - Series D Heartland Payment Systems
Dixa
(2015, Copenhagen, $158M)
$105M - Series C General Atlantic
Muna Therapeutics
(2020, Copenhagen, $73.0M)
$73.0M - Series A Novo Holdings
Konsolidator
(2016, Soborg, $4.0M)
$4.0M - Series A Formue Nord
Colossyan
(2020, Frederiksberg, $1.2M)
$1.2M - Seed Day One Capital
*Shows only the lead Investors

5. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Denmark Tech in July 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
$105.0M - Series C
Dixa (2015, Copenhagen, $158.0M)
Omnichannel customer service platform
General Atlantic, Seed Capital, Project A, Notion
LATE STAGE
$249.3M - Series D
Lunar (2015, Aarhus, $371.2M)
Digital bank for consumers & businesses
Heartland Payment Systems, Kinnevik, IDC
Ventures, MW&L Capital Partners, Tencent, and 2
more
EARLY STAGE
$4.0M - Series A
Konsolidator (2016, Soborg, $4.0M)
Cloud-based financial consolidation and reporting
software for businesses
Formue Nord
EARLY STAGE
$73.0M - Series A
Muna Therapeutics (2020, Copenhagen,
$73.0M)
Developer of small-molecule therapeutics for
neurodegenerative diseases
Novo Holdings, Sofinnova Partners, DROIA
Ventures, Polaris Partners, VIB, and 2 more
SEED STAGE
$1.2M - Seed
Colossyan (2020, Frederiksberg, $1.2M)
Artificial intelligence based video content creation
solution provider
Day One Capital, APX, Mikal Hallstrup, Akos Kapui

6. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Denmark Tech in July 2021
Denmark Tech: List of New Investors
6
Investor Company Info
Round
Amount
Round Name
Polaris Partners
501 portfolio companies | US focused venture capital firm
Muna Therapeutics
Developer of small-molecule therapeutics for
neurodegenerative diseases
$73.00M Series A
Tencent
659 portfolio companies | Chinese investment holding company
Lunar
Digital bank for consumers & businesses
$249M Series D
VIB
18 portfolio companies | Limited information available
Muna Therapeutics
Developer of small-molecule therapeutics for
neurodegenerative diseases
$73.00M Series A
Fuel Ventures
56 portfolio companies | Early-stage centric tech-focused VC firm
investing primarily in the UK
Lunar
Digital bank for consumers & businesses
$249M Series D
Day One Capital
21 portfolio companies | Tech & Life Sciences focused early stage
micro VC firm investing in Europe
Colossyan
Artificial intelligence based video content creation solution
provider
$1.18M Seed
Heartland Payment Systems
3 portfolio companies | Payment processing, POS and Gift Card
services
Lunar
Digital bank for consumers & businesses
$249M Series D
APX
9 portfolio companies | Venture capital firm investing in early-stage
startups
Colossyan
Artificial intelligence based video content creation solution
provider
$1.18M Seed
DROIA Ventures
5 portfolio companies | Venture capital firm investing in life sciences
sector
Muna Therapeutics
Developer of small-molecule therapeutics for
neurodegenerative diseases
$73.00M Series A
IDC Ventures
10 portfolio companies | Venture capital fund focused on tech startups
Lunar
Digital bank for consumers & businesses
$249M Series D
Formue Nord
2 portfolio companies | Forside - Formue Nord
Konsolidator
Cloud-based financial consolidation and reporting software for
businesses
$3.96M Series A

7. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Denmark Tech in July 2021
Denmark Tech: List of New Investors
7
Investor Company Info
Round
Amount
Round Name
V-Bio Ventures
22 portfolio companies | VC firm investing in early stage life sciences
companies in Europe
Muna Therapeutics
Developer of small-molecule therapeutics for
neurodegenerative diseases
$73.00M Series A
MW&L Capital Partners
1 portfolio companies | Private equity firm focused on growth capital
Lunar
Digital bank for consumers & businesses
$249M Series D

8. Denmark Tech - July 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.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲5 Internet First Banks with Partner Bank's License $297M 2 Lunar | $249M | Series D
2 ▲13 Drugs for Multiple Cancer Types $244M 4 IO Biotech | $155M | Series B
3 -- Wine Listing and Recommendation Platforms $155M 1 Vivino | $155M | Series D
4 -- Corporate Travel & Expense Cards $150M 1 Pleo | $150M | Series C
5 -- Internet First Corporate Credit Card Issuers $150M 1 Pleo | $150M | Series C
6 ▲1 Customer Service Software $105M 1 Dixa | $105M | Series C
7 -- Neurodegenerative Disorders Drugs $73.0M 1 Muna Therape.. | $73.0M | Series A
8 -- Collaborative Learning $62.1M 2 eloomi | $55.0M | Series B
9 ▲71 Fitness Center Management Softwares $61.0M 1 Lenus eHealth | $61.0M | Series A
10 ▲3 Document Template Management $60.0M 1 Templafy | $60.0M | Series D

9. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/3)
Interesting Companies identified by Analysts in Denmark Tech in July 2021
Denmark Tech: Analyst Picks
9
Upgraded to UNICORN
Lunar (2015, Aarhus, $882K, Seed)
Digital bank for consumers & businesses
IDC Ventures, Tencent, Socii Capital and 10 other
Investors
Upgraded to UNICORN
Pleo (2015, Copenhagen, $56.0M, Series B)
Corporate payment card for expense management
Thrive Capital, Bain Capital Ventures, Kinnevik and
7 other Investors
Upgraded to SOONICORN
Muna Therapeutics (2020, Copenhagen,
$73.0M, Series A)
Developer of small-molecule therapeutics for
neurodegenerative diseases
V-Bio Ventures, Sofinnova Partners, DROIA
Ventures and 4 other Investors
Upgraded to MINICORN
Konsolidator (2016, Soborg, $4.0M, Series A)
Cloud-based financial consolidation and reporting
software for businesses
Formue Nordand

10. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/3)
Interesting Companies identified by Analysts in Denmark Tech in July 2021
Denmark Tech: Analyst Picks
10
Added to Editor's Pick
Moodagent (2000, Copenhagen, $988K, Seed)
Music streaming platform
Nordic Makersand
Added to Editor's Pick
Cerebriu (2018, Copenhagen, $1.4M, Seed)
AI-based imaging software for the diagnosis of
brain disease
Added to Editor's Pick
Secomea (2008, Herlev, Undisclosed, PE)
Industrial VPN, gateway, and firewall based threat
prevention & remote access solution
GRO Capitaland
Added to Editor's Pick
DreamPlan (2019, Copenhagen, $2.8K, Seed)
Online financial advisory platform for individuals
Ole Jepsen,Acceleraceand
Added to Editor's Pick
Colossyan (2020, Frederiksberg, $1.2M, Seed)
Artificial intelligence based video content creation
solution provider
Akos Kapui, APX, Mikal Hallstrup and 1 other
Investors
Added to Editor's Pick
Custimy (2020, Copenhagen, $801K, Seed)
Cloud-based customer data platform for SMBs
PreSeed Venturesand
Added to Editor's Pick
Replay Institute (2018, Brondby Strand,
$730K, Seed)
Provider of a VR-based football training and
performance analysis solution
PreSeed Venturesand
Added to Editor's Pick
Aiia (2010, Copenhagen, Unfunded)
Open banking solutions
Added to Editor's Pick
ATLINE (2018, Kolding, Unfunded)
Provider of an AI-enabled laboratory automation
robot system for various industries
Added to Editor's Pick
Spin Robotics (2019, Odense, Unfunded)
Provider of an AI and arm-based collaborative
screwdriver robot system
Added to Editor's Pick
Relesys (2014, Copenhagen, Unfunded)
Personalized employee communication platform
for enterprises
Added to Editor's Pick
Kurrent (2017, Glostrup, Unfunded)
Content delivery solutions platform for the
broadcasting and OTT industry

11. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (3/3)
Interesting Companies identified by Analysts in Denmark Tech in July 2021
Denmark Tech: Analyst Picks
11
Added to Editor's Pick
Vokalo (2019, Aarhus, Unfunded)
Offers a communication platform for athletes
Added to Editor's Pick
RoboTool (2001, Vejen, Unfunded)
Manufacturer of an arm-based robot system for
various industries
Added to Editor's Pick
Omada (2000, Copenhagen, Unfunded)
Cloud based identity governance and
administration software provider
Added to Editor's Pick
SellersPoint (2019, Aalborg, Unfunded)
Cloud based platform offering software for sales
training

12. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Denmark Tech in July 2021
Denmark Tech: Acquisitions
12
Acq.
Date
Company Acquirer Deal Size
01 Jul 2021
Fertin Pharma(1915, Vejle, $1.0M)
Developing and manufacturing medicated chewing gum
Philip Morris International $819.6M
07 Jul 2021
Aarhus GeoSoftware(2015, Aarhus)
Geospatial data management platform
Seequent
08 Jul 2021
Wizkids(, Albertslund)
Cloud-based platform offering school management solutions
Texthelp
21 Jul 2021
Esignatur(2014, Copenhagen)
SaaS based digital signature solution
Scrive

13. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Denmark Tech in July 2021
Denmark Tech:News
13
Exit News
.
● Philip Morris to acquire Fertin Pharma for $ 812.8m Pharmaceutical Business
Review .
● Bentley Systems Announces Seequent’s Acquisition of Aarhus
GeoSoftware Business Wire
.
● Scrive’s Acquisition of Esignatur Global Legal Chronicle
.
● NEC acquires Danish IT company KMD to deliver biometrics to public
sector BiometricUpdate.com
.
● EQT to sell Fertin Pharma to PMI PE Hub
.
People News
.
● Mette Ingeman Pedersen to Join Denmark’s Saxo Bank, which
Specializes in Online Trading, Investments Crowdfund Insider
.
● Adcendo Appoints Michael Pehl as Chief Executive Officer ICrowdNewswire
.
● Veteran Nets and Danske Bank Exec Appointed MyChargeBack VP of
European Operations and Business Development PR Newswire
.
● Shane Paladin Joins Siteimprove As New Ceo From A Global Position
With Sap ICrowdNewswire
.
Company News
.
● Saniona Receives U.S. FDA Orphan Drug Designation for Tesomet in
Hypothalamic Obesity GlobeNewswire

14. Denmark Tech - July 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Denmark Tech on Tracxn Platform
Denmark Tech: Explore more on Tracxn Platform
14
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 Lunar
Cap Tables of Pleo
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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