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1. TRACXN TOP BUSINESS MODELS REPORT
August 03, 2021
FINLAND TECH

2. Finland Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
FinlandFinland Tech Funding -
Overview
3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Finland Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Funding in last 1 year
3
Food Tech $562M
Wearable Technology $160M
Residential Real Estate Tech $117M
Geographic Information
Systems
$111M
Database Technology $100M
MarketingTech $71.1M
Y-o-Y Funding
Top Investors by Funding
Rounds
Seed
Stage
Lifeline Ventures
Innovestor
Superhero Capital
4
4
3
Early
Stage
OpenOcean
Maki.vc
Vendep Capital
4
4
3
Late
Stage
Atomico
Lifeline Ventures
EQT Ventures
2
2
2
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Wolt
(2014, Helsinki)
$536M - Series
E
Kodit.io
(2017, Helsinki)
$117M - Series
B
Oura
(2013, Oulu)
$100M - Series
C
Aiven
(2016, Helsinki)
$100M - Series
C
ICEYE
(2014, Espoo)
$87.0M - Series
C
Varjo
(2016, Helsinki)
$54.0M - Series
C
Supermetrics
(2013, Helsinki)
$47.2M - Series
B
IQM
(2018, Espoo)
$46.3M - Series
A
Virta
(2013, Helsinki)
$36.0M - Series
C
Infinited Fiber
(2016, Espoo)
$35.7M - Series
B
Yousician
(2010, Helsinki)
$28.0M - Series
B
Quuppa
(2012, Espoo)
$23.7M - Series
A
Helsinki (71%)
Espoo (17%)
Oulu (7%)
Tampere (3%)
Kajaani (1%)
Others (1%)

4. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Finland Tech - Top Funded Business Models - last 1
year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1<> 0 Food Ordering Platforms $544M 2 Wolt | $536M | Series E Link
2-- iBuying Platforms $117M 1 Kodit.io | $117M | Series B Link
3▲3 Sleep Management Devices $105M 2 Oura | $100M | Series C Link
4<> 0 Database as a Service (DBaaS) $100M 1 Aiven | $100M | Series C Link
5<> 0 Infrastrucute as a Service for Big Data $100M 1 Aiven | $100M | Series C Link
6-- Satellite Imaging $87.0M 1 ICEYE | $87.0M | Series C Link
7-- Satellite Based Imaging Services $87.0M 1 ICEYE | $87.0M | Series C Link
8-- Eye Tracking for VR $54.0M 1 Varjo | $54.0M | Series C Link
9-- Customer Data Platforms $47.2M 1 Supermetrics | $47.2M | Series B Link
10▼1 Superconducting Qubit $46.3M 1 IQM | $46.3M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Finland Tech - Top Funded Business Models - last 1
year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11-- EV Charging Station Management Software $36.8M 2 Virta | $36.0M | Series C Link
12-- Tech Enabled Fibre Waste Recyclers $35.7M 1 Infinited Fi.. | $35.7M | Series B Link
13-- Online Music Tutoring $28.0M 1 Yousician | $28.0M | Series B Link
14-- Online Music Courses $28.0M 1 Yousician | $28.0M | Series B Link
15▼7 Mobile Casual Game Developers $26.4M 3 metacore | $17.8M | Series A Link
16-- Indoor Positioning Systems $23.7M 1 Quuppa | $23.7M | Series A Link
17--
Online B2C Packaged Surplus Food Products
Delivery
$23.2M 1 Fiksua ruoka | $23.2M | Series B Link
18▲2 Customer Service Software $20.0M 1 Ultimate | $20.0M | Series A Link
19-- Carbon To Food $17.9M 1 Solar Foods | $17.9M | Series A Link
20▲3 License Management $16.0M 1 Flowhaven | $16.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Finland Tech - Top Funded Business Models - last 1
year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21--
Diagnostics (by Technology) > Diagnostic
Software > Imaging > Digital Pathology
$15.4M 1 Aiforia | $15.4M | Series B Link
22-- Diversified Diagnostic Tests $15.4M 1 Aiforia | $15.4M | Series B Link
23-- AI Based Pathology Image Analysis $15.4M 1 Aiforia | $15.4M | Series B Link
24▲9 Enterprise Collaboration Suite $14.6M 1 Howspace | $14.6M | Series A Link
25-- Remote Collaboration $14.6M 1 Howspace | $14.6M | Series A Link
26-- Oil and Gas Downhole Solutions $13.4M 1 Zyfra | $13.4M | Series B Link
27-- Industrial Asset Monitoring $13.4M 1 Zyfra | $13.4M | Series B Link
28▼6 Ecommerce Marketing Software $12.0M 1 Klevu | $12.0M | Series A Link
29-- Life Sciences Research Services $10.6M 1 Rappta Thera.. | $10.6M | Series A Link
30-- FPS eSports Game Developers $10.0M 1 Critical Force | $10.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Finland Tech - Top Funded Business Models - last 1
year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Trauma and Extremities Treatment Devices $8.6M 1 Bioretec | $8.6M | Series A Link
32-- Open Banking Aggregation APIs $8.3M 1 Enfuce | $8.3M | Series B Link
33-- Payment Card Issuer Processors $8.3M 1 Enfuce | $8.3M | Series B Link
34-- Software Development Analytics $6.9M 1 Swarmia | $6.9M | Seed Link
35▼1 Conversational Bots for Lead Generation $6.1M 1 Leadoo | $6.1M | Series A Link
36▲7 In-App Ad Network Platform $5.0M 1 AppFollow | $5.0M | Series A Link
37▲7 App Store Optimization $5.0M 1 AppFollow | $5.0M | Series A Link
38-- Gamer Community Platforms $5.0M 1 Noice | $5.0M | Angel Link
39▲6 App Review Analytics $5.0M 1 AppFollow | $5.0M | Series A Link
40-- Wearable Sleep Tracker $4.9M 1 Nukute | $4.9M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Finland Tech - Top Funded Business Models - last 1
year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Sleep Inducing Devices $4.9M 1 Nukute | $4.9M | Series A Link
42-- Marketing Intelligence $4.8M 1 Sellforte | $4.8M | Series A Link
43-- Crypto Exchanges $4.4M 1 Element Finance | $4.4M | Series A Link
44-- Non-Invasive CGM Devices $4.0M 1 Veri | $4.0M | Seed Link
45-- Autonomous Farming $4.0M 1 iFarm | $4.0M | Series A Link
46-- Glucose Monitoring Wearables $4.0M 1 Veri | $4.0M | Seed Link
47--
Clinical Decision Support Tools for Surgery
Planning
$3.9M 2 Disior | $2.2M | Series A Link
48-- Robo Advisors $3.9M 1 Selma Finance | $3.9M | Series A Link
49--
Healthcare IT > Value Based Care > Patient
Engagement > Suite Solutions
$3.5M 1 Medixine | $3.5M | Series B Link
50-- Crypto Trading Platforms $2.6M 1 Oddz | $2.6M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Food Ordering Platforms - Finland
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$544M (▲395%)
2 (▲100%)
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$860M
1
-
2
1
Food Tech (Solar Foods)
(# Cos: 28 | $909M)
Food Discovery and Ordering (ResQ)
(# Cos: 10 | $865M)
Restaurant Aggregator
(Pizza-online)
(# Cos: 2 | $860M)
Platform Delivered (Wolt)
(# Cos: 2 | $860M)
Wolt
(2014, Helsinki, $860M)
Pizza-online
(2005, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Wolt (2014, Helsinki)
$536M - Series E - Jan 2021
Wolt (2014, Helsinki)
$8.8M - Angel - Oct 2020

10. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
iBuying Platforms - Finland
02
10
Back to index
Residential Real Estate Tech (Oikotie)
(# Cos: 5 | $124M)
Online Resellers (Kodit.io)
(# Cos: 1 | $122M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$117M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$122M
1
-
1
1
Kodit.io
(2017, Helsinki, $122M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kodit.io (2017, Helsinki)
$117M - Series B - Oct 2020

11. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Sleep Management Devices -
Finland
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$105M (▲275%)
2 (▲100%)
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
2
$161M
5
-
7
1
Fitness & Wellness Tech (Polar)
(# Cos: 73 | $172M)
Mind & Body Wellness (Nukute)
(# Cos: 23 | $161M)
Sleep Management (Beddit)
(# Cos: 10 | $161M)
Devices (Oura)
(# Cos: 7 | $161M)
Oura
(2013, Oulu, $148M)
Beddit
(2007, Espoo, $8.0M)
Nukute
(2015, Oulu, $4.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oura (2013, Oulu)
$100M - Series C - May 2021
Nukute (2015, Oulu)
$4.9M - Series A - Feb 2021

12. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Database as a Service (DBaaS) -
Finland
04
12
Back to index
Database Technology (SQL Governor)
(# Cos: 8 | $153M)
DBaaS (Aiven)
(# Cos: 1 | $151M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$100M (▲150%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$151M
1
-
1
1
Aiven
(2016, Helsinki, $151M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aiven (2016, Helsinki)
$100M - Series C - Mar 2021

13. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Infrastrucute as a Service for Big
Data - Finland
05
13
Back to index
Big Data Infrastructure (Ellie)
(# Cos: 3 | $151M)
IaaS (Aiven)
(# Cos: 1 | $151M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$100M (▲150%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$151M
1
-
1
1
Aiven
(2016, Helsinki, $151M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aiven (2016, Helsinki)
$100M - Series C - Mar 2021

14. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
ICEYE (2014, Espoo)
$87.0M - Series C - Sep 2020
Satellite Imaging - Finland
06
14
Back to index
Geographic Information Systems (IndoorAtlas)
(# Cos: 31 | $199M)
Imaging Solutions (Maptionnaire)
(# Cos: 2 | $152M)
Satellite based (ICEYE)
(# Cos: 1 | $152M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$87.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$152M
1
-
1
1
ICEYE
(2014, Espoo, $152M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Satellite Based Imaging Services -
Finland
07
15
Back to index
NewSpace (Aurora)
(# Cos: 3 | $152M)
Satellite Based (ICEYE)
(# Cos: 1 | $152M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$87.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$152M
1
-
1
1
ICEYE
(2014, Espoo, $152M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
ICEYE (2014, Espoo)
$87.0M - Series C - Sep 2020

16. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Eye Tracking for VR - Finland
08
16
Back to index
Eye Tracking (SeeTrue Technologies)
(# Cos: 2 | $100M)
Virtual Reality (Varjo)
(# Cos: 1 | $100M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$54.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$100M
1
-
1
1
Varjo
(2016, Helsinki, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Varjo (2016, Helsinki)
$54.0M - Series C - Aug 2020

17. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Supermetrics (2013, Helsinki)
$47.2M - Series B - Aug 2020
Customer Data Platforms - Finland
09
17
Back to index
MarketingTech (AppFollow)
(# Cos: 85 | $99.0M)
Marketing Data Platforms (Enreach)
(# Cos: 2 | $52.2M)
Customer Data Platforms
(Supermetrics)
(# Cos: 2 | $52.2M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$47.2M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$52.2M
2
-
2
1
Supermetrics
(2013, Helsinki, $51.3M)
Enreach
(2010, Helsinki, $841K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Superconducting Qubit - Finland
10
18
Back to index
Quantum Computing (Quantastica)
(# Cos: 3 | $84.2M)
Superconducting Qubit (IQM)
(# Cos: 1 | $84.2M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$46.3M (▲171%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$84.2M
1
-
1
1
IQM
(2018, Espoo, $84.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
IQM (2018, Espoo)
$46.3M - Series A - Nov 2020

19. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
EV Charging Station Management
Software - Finland
11
19
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$36.8M ( -- )
2 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$36.8M
2
-
2
1
Electric Vehicles (Visedo Oy)
(# Cos: 38 | $68.6M)
Charging Solutions (Ensto)
(# Cos: 15 | $37.4M)
Station Network (Parkkisahko)
(# Cos: 6 | $37.4M)
Charging (eMabler)
(# Cos: 6 | $37.4M)
Station Management IT (Virta)
(# Cos: 2 | $36.8M)
Virta
(2013, Helsinki, $36.0M)
eMabler
(2019, Helsinki, $769K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Virta (2013, Helsinki)
$36.0M - Series C - Apr 2021
eMabler (2019, Helsinki)
$769K - Seed - Jun 2021

20. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Tech Enabled Fibre Waste
Recyclers - Finland
12
20
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$35.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$39.9M
1
-
1
1
Solid Waste Management Tech (Enevo)
(# Cos: 19 | $101M)
Recycling (ZenRobotics)
(# Cos: 10 | $61.9M)
Tech Enabled Recyclers (AkkuSer)
(# Cos: 2 | $39.9M)
Fibre (Infinited Fiber)
(# Cos: 1 | $39.9M)
Infinited Fiber
(2016, Espoo, $39.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Infinited Fiber (2016, Espoo)
$35.7M - Series B - Jun 2021

21. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Yousician (2010, Helsinki)
$28.0M - Series B - Apr 2021
Online Music Tutoring - Finland
13
21
Back to index
Music Tech (Singa)
(# Cos: 35 | $50.7M)
Music Learning (MusiClock)
(# Cos: 4 | $35.0M)
Online Tutoring (Yousician)
(# Cos: 1 | $35.0M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$28.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$35.0M
1
-
1
1
Yousician
(2010, Helsinki, $35.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Online Music Courses - Finland
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$28.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$36.7M
7
-
9
1
Continued Learning (Fuzu)
(# Cos: 30 | $50.3M)
Vocational (WordDive)
(# Cos: 22 | $44.6M)
Music (Musopia)
(# Cos: 9 | $36.7M)
Online Courses (Yousician)
(# Cos: 9 | $36.7M)
Yousician
(2010, Helsinki, $35.0M)
Musopia
(2011, Helsinki, $1.7M)
MusiClock
(2014, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Yousician (2010, Helsinki)
$28.0M - Series B - Apr 2021

23. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Mobile Casual Game Developers -
Finland
15
23
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$26.4M (▲22%)
3 (▼40%)
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
7
$176M
30
1
98
7
Mobile Gaming (Futureplay Games)
(# Cos: 142 | $431M)
Game Developers (Supercell)
(# Cos: 137 | $431M)
Casual (Traplight)
(# Cos: 104 | $190M)
Multi Genre (Small Giant
Games)
(# Cos: 98 | $176M)
Small Giant Games
(2013, Helsinki, $52.0M)
Traplight
(2010, Tampere, $13.6M)
Rovio
(2003, Espoo, $42.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
metacore (2014, Helsinki)
$17.8M - Series A - Sep 2020
Lightheart (2019, Helsinki)
$6.8M - Series A - Apr 2021
Boom (2020, Tampere)
$1.8M - Seed - Jun 2021

24. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Indoor Positioning Systems -
Finland
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$23.7M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$46.1M
3
-
4
2
Geographic Information Systems (ICEYE)
(# Cos: 31 | $199M)
Positioning & Navigation (Steerpath)
(# Cos: 10 | $46.1M)
Positioning (Quuppa)
(# Cos: 6 | $46.1M)
Indoor (IndoorAtlas)
(# Cos: 4 | $46.1M)
IndoorAtlas
(2012, Oulu, $22.4M)
Quuppa
(2012, Espoo, $23.7M)
ROGER-GPS
(2015, Espoo)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Quuppa (2012, Espoo)
$23.7M - Series A - Aug 2020

25. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Online B2C Packaged Surplus
Food Products Delivery - Finland
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$23.2M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$23.2M
1
-
1
1
Online Grocery (Digital Goodie)
(# Cos: 16 | $24.5M)
B2C Ecommerce (Pint Please)
(# Cos: 14 | $24.5M)
Surplus Products (Froodly)
(# Cos: 2 | $23.2M)
Packaged Food Products
(Fiksua ruoka)
(# Cos: 1 | $23.2M)
Fiksua ruoka
(2016, Espoo, $23.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Fiksua ruoka (2016, Espoo)
$23.2M - Series B - May 2021

26. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Customer Service Software -
Finland
18
26
Back to index
Customer Service Software (callstats.io)
(# Cos: 18 | $40.6M)
Suite (Ultimate)
(# Cos: 1 | $28.1M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$20.0M (▲208%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$28.1M
1
-
1
1
Ultimate
(2014, Tampere, $28.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ultimate (2014, Tampere)
$20.0M - Series A - Dec 2020

27. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Carbon To Food - Finland
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$17.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$41.6M
1
-
1
1
Air Pollution Management Tech (720°)
(# Cos: 12 | $76.5M)
Carbon Management (Spark Sustainability)
(# Cos: 4 | $43.3M)
Carbon Capture (Soletair Power)
(# Cos: 2 | $43.3M)
Carbon To Food (Solar Foods)
(# Cos: 1 | $41.6M)
Solar Foods
(2017, Helsinki, $41.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Solar Foods (2017, Helsinki)
$17.9M - Series A - Sep 2020

28. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Flowhaven (2016, Espoo)
$16.0M - Series A - Jan 2021
License Management - Finland
20
28
Back to index
Legal Tech (Teqmine)
(# Cos: 16 | $36.3M)
Intellectual Property (IP) Management
(TrademarkNow)
(# Cos: 6 | $32.4M)
License Management (Flowhaven)
(# Cos: 1 | $21.5M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$16.0M (▲208%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$21.5M
1
-
1
1
Flowhaven
(2016, Espoo, $21.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Diagnostics (by Technology) > Diagnostic Software >
Imaging > Digital Pathology - Finland
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$15.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$30.6M
2
-
3
2
Diagnostics (by Technology) (Blueprint
Genetics)
(# Cos: 46 | $95.0M)
Diagnostic Software (Sensotrend)
(# Cos: 9 | $30.6M)
Imaging (WebMicroscope)
(# Cos: 5 | $30.6M)
Digital Pathology (Aiforia)
(# Cos: 3 | $30.6M)
Aiforia
(2014, Helsinki, $23.0M)
WebMicroscope
(2013, Helsinki, $7.6M)
iSTOC
(2012, Oulu)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aiforia (2014, Helsinki)
$15.4M - Series B - Jun 2021

30. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Diversified Diagnostic Tests -
Finland
22
30
Back to index
Diversified Diagnostics (Nightingale)
(# Cos: 22 | $30.6M)
Tests (Aiforia)
(# Cos: 22 | $30.6M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$15.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
3
$30.6M
7
1
22
2
Aiforia
(2014, Helsinki, $23.0M)
Nightingale
(2013, Helsinki)
Revenio Group
(2001, Vantaa)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Aiforia (2014, Helsinki)
$15.4M - Series B - Jun 2021

31. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Aiforia (2014, Helsinki)
$15.4M - Series B - Jun 2021
AI Based Pathology Image Analysis
- Finland
23
31
Back to index
Clinical Labs IT (Mylab)
(# Cos: 9 | $30.6M)
Pathology (WebMicroscope)
(# Cos: 7 | $30.6M)
AI Based (Aiforia)
(# Cos: 1 | $23.0M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$15.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$23.0M
1
-
1
1
Aiforia
(2014, Helsinki, $23.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

32. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Enterprise Collaboration Suite -
Finland
24
32
Back to index
Enterprise Collaboration (Happeo)
(# Cos: 50 | $57.9M)
Suite (glue)
(# Cos: 3 | $18.4M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$14.6M (▲279%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$18.4M
2
-
3
2
glue
(2018, Helsinki, $3.9M)
Howspace
(2008, Helsinki, $14.6M)
Agendium
(2013, Tampere)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Howspace (2008, Helsinki)
$14.6M - Series A - May 2021

33. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Remote Collaboration - Finland
25
33
Back to index
Remote Work Tools (Flowdock)
(# Cos: 6 | $15.2M)
Collaboration Suite (Howspace)
(# Cos: 1 | $14.6M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$14.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$14.6M
1
-
1
1
Howspace
(2008, Helsinki, $14.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Howspace (2008, Helsinki)
$14.6M - Series A - May 2021

34. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Oil and Gas Downhole Solutions -
Finland
26
34
Back to index
Oil & Gas Tech (Rocsole)
(# Cos: 3 | $16.4M)
Diversified (Zyfra)
(# Cos: 1 | $13.4M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$13.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$13.4M
1
-
1
1
Zyfra
(2017, Helsinki, $13.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zyfra (2017, Helsinki)
$13.4M - Series B - Jan 2021

35. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Industrial Asset Monitoring -
Finland
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$13.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$14.0M
2
-
3
1
Manufacturing Tech (Visual Components)
(# Cos: 28 | $17.5M)
Enterprise Asset Management (Distence)
(# Cos: 9 | $14.0M)
Maintenance Management
(Noiseless Acoustics)
(# Cos: 9 | $14.0M)
Asset Monitoring (Zyfra)
(# Cos: 3 | $14.0M)
Zyfra
(2017, Helsinki, $13.4M)
Trelab
(2011, Tampere, $587K)
Dreija
(2019, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zyfra (2017, Helsinki)
$13.4M - Series B - Jan 2021

36. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Klevu (2013, Helsinki)
$12.0M - Series A - Dec 2020
Ecommerce Marketing Software -
Finland
28
36
Back to index
E-Commerce Enablers (Nosto)
(# Cos: 27 | $86.1M)
Marketing (Smartly.io)
(# Cos: 7 | $79.6M)
Diversified (Klevu)
(# Cos: 3 | $18.3M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$12.0M (▲117%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$18.3M
2
-
3
1
Klevu
(2013, Helsinki, $17.9M)
Custobar
(2014, Helsinki, $402K)
Intellipocket
(2009, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Life Sciences Research Services -
Finland
29
37
Back to index
Life Sciences Platforms and Tools (Ginolis)
(# Cos: 41 | $39.9M)
Research Services (Nightingale)
(# Cos: 21 | $26.1M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$10.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$26.1M
10
-
21
1
Nightingale
(2013, Helsinki)
MediSapiens
(2009, Helsinki, $1.0M)
DelSiTech
(2001, Turku, $2.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Rappta Therapeutics (2019, Helsinki)
$10.6M - Series A - Oct 2020

38. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Critical Force (2012, Kajaani)
$10.0M - Series B - Jan 2021
FPS eSports Game Developers -
Finland
30
38
Back to index
eSports (ISO eSports)
(# Cos: 5 | $23.3M)
Game Developers (Reforged Studios)
(# Cos: 2 | $23.3M)
FPS (Critical Force)
(# Cos: 1 | $20.8M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$10.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$20.8M
1
-
1
1
Critical Force
(2012, Kajaani, $20.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Trauma and Extremities Treatment
Devices - Finland
31
39
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$8.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$19.6M
2
-
3
1
Orthopedics (Bone Index Finland)
(# Cos: 16 | $79.3M)
Medical Devices (OnBone)
(# Cos: 14 | $79.3M)
Therapies (Synoste)
(# Cos: 12 | $45.0M)
Trauma and Extremities
(Bioretec)
(# Cos: 3 | $19.6M)
Bioretec
(1998, Tampere, $8.6M)
Synoste
(2012, Espoo, $11.0M)
Orfix
(1994, Raahe)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bioretec (1998, Tampere)
$8.6M - Series A - Jun 2021

40. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Enfuce (2016, Espoo)
$8.3M - Series B - Mar 2021
Open Banking Aggregation APIs -
Finland
32
40
Back to index
Banking Tech (Holvi)
(# Cos: 17 | $25.3M)
Open Banking (enable:Banking)
(# Cos: 4 | $17.9M)
Aggregation APIs (Enfuce)
(# Cos: 2 | $17.9M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$8.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$17.9M
1
-
2
1
Enfuce
(2016, Espoo, $17.9M)
Tilisy
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Enfuce (2016, Espoo)
$8.3M - Series B - Mar 2021
Payment Card Issuer Processors -
Finland
33
41
Back to index
Payments (ePassi)
(# Cos: 43 | $66.0M)
Enablers (XMLdation)
(# Cos: 3 | $17.9M)
Issuer Processor (Enfuce)
(# Cos: 1 | $17.9M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$8.3M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$17.9M
1
-
1
1
Enfuce
(2016, Espoo, $17.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

42. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Swarmia (2011, Helsinki)
$6.9M - Seed - May 2021
Software Development Analytics -
Finland
34
42
Back to index
Application Development Tools (AppGyver)
(# Cos: 27 | $17.3M)
Developer Productivity Tools
(Drawelements)
(# Cos: 4 | $8.1M)
Software Development Analytics
(Swarmia)
(# Cos: 2 | $8.1M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$6.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$8.1M
1
-
2
1
Swarmia
(2011, Helsinki, $8.1M)
Drawelements
(2009, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Conversational Bots for Lead
Generation - Finland
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$6.1M (▲84.2%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$9.4M
1
-
1
1
MarketingTech (Supermetrics)
(# Cos: 85 | $99.0M)
Lead Management (multiSender)
(# Cos: 3 | $13.5M)
Lead Generation (Leadfeeder)
(# Cos: 3 | $13.5M)
Conversational Bots (Leadoo)
(# Cos: 1 | $9.4M)
Leadoo
(2018, Helsinki, $9.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Leadoo (2018, Helsinki)
$6.1M - Series A - Jan 2021

44. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
AppFollow (2014, Helsinki)
$5.0M - Series A - Oct 2020
In-App Ad Network Platform -
Finland
36
44
Back to index
Mobile Advertising (Blyk)
(# Cos: 6 | $144M)
Ad Network (Suomzilla)
(# Cos: 3 | $6.4M)
In-App Advertising (AppFollow)
(# Cos: 1 | $6.4M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$5.0M (▲355%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$6.4M
1
-
1
1
AppFollow
(2014, Helsinki, $6.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
App Store Optimization - Finland
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$5.0M (▲355%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$6.4M
1
-
1
1
MarketingTech (Supermetrics)
(# Cos: 85 | $99.0M)
Mobile Marketing (FinnCode)
(# Cos: 3 | $6.6M)
App Marketing (Magic Add)
(# Cos: 2 | $6.6M)
App Store Optimization
(AppFollow)
(# Cos: 1 | $6.4M)
AppFollow
(2014, Helsinki, $6.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AppFollow (2014, Helsinki)
$5.0M - Series A - Oct 2020

46. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Gamer Community Platforms -
Finland
38
46
Back to index
Gaming Tech (GameRefinery)
(# Cos: 19 | $19.5M)
Gamers Community (Noice)
(# Cos: 3 | $5.0M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$5.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$5.0M
2
-
3
0
Noice
(2020, Helsinki, $5.0M)
Airsoftracker
(2015, Turku)
Robocraft Garage
(2014, Vaasa)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Noice (2020, Helsinki)
$5.0M - Angel - May 2021

47. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
App Review Analytics - Finland
39
47
Back to index
Analysis (AppFollow)
(# Cos: 1 | $6.4M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$5.0M (▲355%)
1 ( <> 0% )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$6.4M
1
-
1
1
AppFollow
(2014, Helsinki, $6.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
AppFollow (2014, Helsinki)
$5.0M - Series A - Oct 2020

48. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Nukute (2015, Oulu)
$4.9M - Series A - Feb 2021
Wearable Sleep Tracker - Finland
40
48
Back to index
Wearable Technology (Oura)
(# Cos: 47 | $295M)
Health and Wellness Devices (Valkee)
(# Cos: 13 | $25.9M)
Sleep Monitoring (Beddit)
(# Cos: 3 | $12.9M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$12.9M
3
-
3
0
Beddit
(2007, Espoo, $8.0M)
Nukute
(2015, Oulu, $4.9M)
Night Train
(2020, Oulu)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

49. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Nukute (2015, Oulu)
$4.9M - Series A - Feb 2021
Sleep Inducing Devices - Finland
41
49
Back to index
Sleep Medicine (Emfit)
(# Cos: 3 | $12.9M)
Medical Device (Beddit)
(# Cos: 3 | $12.9M)
Sleep Inducing Devices (Nukute)
(# Cos: 1 | $4.9M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.9M
1
-
1
0
Nukute
(2015, Oulu, $4.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

50. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Marketing Intelligence - Finland
42
50
Back to index
MarketingTech (Supermetrics)
(# Cos: 85 | $99.0M)
Marketing Intelligence (Sellforte)
(# Cos: 13 | $5.4M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.8M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$5.4M
5
-
13
1
Sellforte
(2017, Helsinki, $5.4M)
M-Brain
(1999, Helsinki)
Avansera
(2013, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sellforte (2017, Helsinki)
$4.8M - Series A - Mar 2021

51. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Crypto Exchanges - Finland
43
51
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.4M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$4.4M
3
-
13
1
Cryptocurrencies (Element Finance)
(# Cos: 32 | $34.0M)
Financial Services (Tesseract)
(# Cos: 25 | $32.0M)
Investment Industry (Coinmotion)
(# Cos: 20 | $7.0M)
Crypto Exchanges
(LocalBitcoins.com)
(# Cos: 13 | $4.4M)
LocalBitcoins.com
(2012, Helsinki)
Coinmotion
(2013, Helsinki)
Element Finance
(2019, $4.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Element Finance (2019)
$4.4M - Series A - Mar 2021

52. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Non-Invasive CGM Devices -
Finland
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.0M
1
-
2
0
Diabetes (Sensotrend)
(# Cos: 5 | $32.1M)
Monitoring Devices (Mendor)
(# Cos: 3 | $32.1M)
CGM (GlucoModicum)
(# Cos: 2 | $4.0M)
Non-Invasive (Veri)
(# Cos: 2 | $4.0M)
Veri
(2020, $4.0M)
GlucoModicum
(2018, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Veri (2020)
$4.0M - Seed - Jun 2021

53. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
iFarm (2017, Espoo)
$4.0M - Series A - Aug 2020
Autonomous Farming - Finland
45
53
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Crop Tech (Ductor)
(# Cos: 28 | $13.3M)
Autonomous Farming (Plantui)
(# Cos: 6 | $5.0M)
Diversified (iFarm)
(# Cos: 1 | $5.0M)
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$5.0M
1
-
1
0
iFarm
(2017, Espoo, $5.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

54. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Glucose Monitoring Wearables -
Finland
46
54
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Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$4.0M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.0M
1
-
2
0
Disease Self Management (Oura)
(# Cos: 55 | $197M)
Diabetes (Happy Bob)
(# Cos: 9 | $32.1M)
Monitoring (GlucoModicum)
(# Cos: 9 | $32.1M)
Glucose (Dottli)
(# Cos: 9 | $32.1M)
Device (Mendor)
(# Cos: 3 | $32.1M)
Wearable (Veri)
(# Cos: 2 | $4.0M)
Veri
(2020, $4.0M)
GlucoModicum
(2018, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Veri (2020)
$4.0M - Seed - Jun 2021

55. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Clinical Decision Support Tools for
Surgery Planning - Finland
47
55
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Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$3.9M ( -- )
2 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$4.7M
2
-
3
0
Healthcare IT (Kaiku Health)
(# Cos: 95 | $83.8M)
Provider (WebMicroscope)
(# Cos: 54 | $56.3M)
Clinical Operations (Neuro Event Labs)
(# Cos: 16 | $41.9M)
Decision Support (Aiforia)
(# Cos: 15 | $41.9M)
Therapy Plan (Surgify)
(# Cos: 7 | $5.4M)
Surgery (Disior)
(# Cos: 3 | $4.7M)
Disior
(2016, Espoo, $2.9M)
Surgify
(2015, Espoo, $1.7M)
Soredex
(1977, Tuusula)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Disior (2016, Espoo)
$2.2M - Series A - Sep 2020
Surgify (2015, Espoo)
$1.7M - Seed - Jan 2021

56. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Robo Advisors - Finland
48
56
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Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$3.9M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
1
$3.9M
2
-
2
0
Investment Tech (Midaxo)
(# Cos: 34 | $32.4M)
Wealth Management Platforms (PCKT)
(# Cos: 13 | $3.9M)
Robo Advisors (Evervest)
(# Cos: 2 | $3.9M)
Horizontal (Selma Finance)
(# Cos: 2 | $3.9M)
Selma Finance
(2016, Helsinki, $3.9M)
Evervest
(2015, Helsinki)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Selma Finance (2016, Helsinki)
$3.9M - Series A - Dec 2020

57. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Healthcare IT > Value Based Care > Patient
Engagement > Suite Solutions - Finland
49
57
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Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$3.5M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$5.0M
1
-
2
0
Healthcare IT (Aiforia)
(# Cos: 95 | $83.8M)
Value Based Care (Noona)
(# Cos: 35 | $25.0M)
Patient Engagement (Kaiku Health)
(# Cos: 15 | $17.3M)
Suite Solutions (Medixine)
(# Cos: 2 | $5.0M)
Medixine
(2000, Espoo, $5.0M)
Kindfull
(2017, Tampere)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Medixine (2000, Espoo)
$3.5M - Series B - Jun 2021

58. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech - Top Business Models Report
Recent Funding Rounds
Crypto Trading Platforms - Finland
50
58
Back to index
Taxonomy
$ Invested in last 1 year in Finland
Tech
Key Stats
# Funding Rounds in last 1 year in
Finland Tech
$2.6M ( -- )
1 ( -- )
Funded
Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn
Club
-
$2.6M
1
-
5
0
Cryptocurrencies (Coinmotion)
(# Cos: 32 | $34.0M)
Financial Services (Tesseract)
(# Cos: 25 | $32.0M)
Investment Industry (LocalBitcoins.com)
(# Cos: 20 | $7.0M)
Online Trading Platforms (Crypto
Traders Net)
(# Cos: 5 | $2.6M)
Regular Trading (Oddz)
(# Cos: 5 | $2.6M)
Oddz
(2020, $2.6M)
Crypto Traders Net UVC Exchange
(2019, Harju)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oddz (2020)
$2.6M - Seed - Feb 2021

59. Finland Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
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Finland Tech - Top Business Models Report
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