The Tracxn monthly report for February 2021 highlights the state of the tech sector in Denmark, reporting a total of $339 million invested across 5 funding rounds. It features notable investments including Vivino's $155 million series D and Ageras' $73 million series C, as well as information on IPOs, acquisitions, and emerging startups in the region. Key trends identified include a growing interest in online grocery and K-12 edtech sectors, showcasing active investor engagement and a vibrant startup landscape.

1. TRACXN MONTHLY REPORT
FEBRUARY 2021
DENMARK TECH

2. Denmark Tech - February 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 7
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
IPOs 12
Acquisitions 13
Recent News 14

3. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Denmark Tech Snapshot – February 2021
Denmark Tech: Snapshot – February 2021
Note : "Investors" refers to "Institutional Investors" only
3
$339M
5 1
Overall Geo Stats
5
6
23
23
10
Funding Rounds $ Invested Analyst Picks
NIL Technology
Upgraded to
SOONICORN
New Investors
Kinnevik
Sprints Capital
Series A+ rounds Active Investors IPOs
Evaxion Biotech
Acquisitions
Lithium Balance#@
ConWX#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Copenhagen
(5 Rounds, $302M)
Aalborg
(1 Rounds, $4.9M)
Aarhus
(1 Rounds, $449K)
Horsholm
(1 Rounds, $449K)
$155M - Series D
Vivino (2010, San Francisco, $224M)
$73M - Series C
Ageras (2012, Copenhagen, $73M)
$60M - Series C
Labster (2011, Somerville, $100M)
$31.6M - Series B
NIL Technology (2006, Kongens Lyngby,
$50.7M)
Balderton Capital
(1 Investments)
European Union
(1 Investments)
Andreessen Horowitz
(1 Investments)
GGV Capital
(1 Investments)
Online Grocery
Vivino
Social Platforms
AI Infrastructure
Local Services
Ageras
Market Size
Companies Covered 3,320
Funded Companies 1,125
Total Funding $25.0B
Funding in last 12 months $3.3B
Top Exits
IPOs 56
Acquisitions 254
Company Stage
Unicorns 2
Soonicorns 21
Minicorns 110
Editor Picks 389
Series A+ 252
Series C+ 62
Acqui-Hires 1
Deadpooled 271
Top Cities
Copenhagen (1,098 Rounds, $14.4B)
Aarhus (147 Rounds, $479M)
Top Investors
Accelerace (127 Investments)
Seed Capital (92 Investments)

4. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Denmark Tech as of February 2021
Denmark Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2021)*
Vivino
(2010, San Francisco, $224M)
$155M - Series D Kinnevik
Ageras
(2012, Copenhagen, $73.0M)
$73.0M - Series C
NIL Technology
(2006, Kongens Lyngby, $50.7M)
$31.6M - Series B Jolt Capital
Podimo
(2019, Copenhagen, $37.7M)
$13.5M - Series A Chr. Augustinus Fabrikker
Subaio
(2016, Aalborg, $8.4M)
$4.9M - Angel Javier Perez
OKTO
(2019, Lyngby, $854K)
$854K - Seed Rockstart
WakeupData
(2014, Aarhus, $768K)
$449K - Seed
*Shows only the lead Investors

5. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/2)
List of Funding Rounds in Denmark Tech in February 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
$60.0M - Series C
Labster (2011, Somerville, $100.0M)
Provider of virtual labs for educational institutions
Andreessen Horowitz, Balderton Capital, Owl Ventures,
Educapital, GGV Capital, and 3 more
LATE STAGE
$73.0M - Series C
Ageras (2012, Copenhagen, $73.0M)
Networking platform for accountants, lawyers and
clients
LATE STAGE
$155.0M - Series D
Vivino (2010, San Francisco, $224.1M)
Online community platform for wine enthusiasts
Kinnevik, Sprints Capital, Creandum, GP Bullhound
EARLY STAGE
$13.5M - Series A
Podimo (2019, Copenhagen, $37.7M)
Podcast streaming network
Chr. Augustinus Fabrikker, Aldea Ventures, e.ventures,
Heartcore Capital
EARLY STAGE
$31.6M - Series B
NIL Technology (2006, Kongens Lyngby, $50.7M)
Nanopatterning & nanoimprint lithography solutions
Jolt Capital, NGP Capital, Vaekstfonden, European
Union
SEED STAGE
$448.6K - Seed
WakeupData (2014, Aarhus, $767.8K)
E-Commerce data feed management platform
SEED STAGE
$853.5K - Seed
OKTO (2019, Lyngby, $853.5K)
Online platform offering grid network monitoring
solutions
Rockstart, Mist Ventures
SEED STAGE
$4.9M - Angel
Subaio (2016, Aalborg, $8.4M)
White-label subscription management solution for
retail banks
Javier Perez
SEED STAGE
Seed
Proper (2019, Copenhagen, $1.3M)
Tech-first rental agency for commercial and residential
real estate properties
Byfounders

6. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/2)
List of Funding Rounds in Denmark Tech in February 2021
Denmark Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
SEED STAGE
Seed
YooNoon (2019, Horsholm)
Provider of solution for converting cassava foliage into
livestock feed, fertilizer and biogas
Accelerace

7. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Denmark Tech in February 2021
Denmark Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
Kinnevik
75 portfolio companies | Investment and holding company controlled by
Stenbeck, Klingspor, and von Horn families
Vivino
Online community platform for wine enthusiasts
$155M Series D
Sprints Capital
7 portfolio companies | Private equity firm
Vivino
Online community platform for wine enthusiasts
$155M Series D
Aldea Ventures
1 portfolio companies | Fund of fund focused on multiple sector
Podimo
Podcast streaming network
$13.51M Series A
GP Bullhound
42 portfolio companies | Technology-focused global investment bank
Vivino
Online community platform for wine enthusiasts
$155M Series D
Mist Ventures
3 portfolio companies | Micro VC firm investing in tech startups
OKTO
Online platform offering grid network monitoring solutions
$854K Seed

8. Denmark Tech - February 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 -- Esports League Organizers $1.9B 2 BLAST Pro Ser.. | $1.9B | Series D
2 --
Online Grocery > B2C Ecommerce > Beverages >
Alcoholic > Wine > Listing and Recommendation
$155M 1 Vivino | $155M | Series D
3 -- Food Tech > Food Discovery and Ordering > Surplus Food $98.3M 3 Too Good To Go | $35.5M | Series B
4 --
K-12 EdTech > B2B2C Learning Solutions > School
Curriculum > Multi Subject > Activity Based Learning >
Virtual Labs
$69.0M 2 Labster | $60.0M | Series C
5 ▼-1 Antibacterial Drugs $57.7M 3 Minervax | $57.4M | Series B
6 -- Immunotherapy > Vaccine > Prophylactic $57.4M 1 Minervax | $57.4M | Series B
7 ▲31 Log Management $50.0M 2 LogPoint | $30.0M | Series B
8 ▲78
K-12 EdTech > B2B2C Learning Solutions > School
Curriculum > Math > Online Courses > Adaptive
$36.2M 1 Edulab | $36.2M | Series B
9 -- Nano Positioning $31.6M 1 NIL Technology | $31.6M | Series B
10 ▲16 Hydrogen Fueling $31.0M 3 Everfuel | $31.0M | Series B

9. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/3)
Interesting Companies identified by Analysts in Denmark Tech in February 2021
Denmark Tech: Analyst Picks
9
Upgraded to SOONICORN
NIL Technology (2006, Kongens Lyngby, $7.2M,
Series A)
Nanopatterning & nanoimprint lithography solutions
Invision Technologies, Jolt Capital, NGP Capital and 2
other Investors
Upgraded to MINICORN
Subaio (2016, Aalborg, Undisclosed, Series A)
White-label subscription management solution for
retail banks
Nordea, Javier Perez, and 4 other Investors
Upgraded to MINICORN
Zymoscope (2019, Copenhagen, $1.2M, Seed)
Provider of an IoT-based fermentation management
tool for the beer industry
Vaekstfonden,Rockstart,Mads Heineand
Added to Editor's Pick
ChurchDesk (2012, Copenhagen, $244K, Seed)
Cloud-based church management software
Accelerace, Nordic Makers, Mangrove Capital Partners
and 1 other Investors
Added to Editor's Pick
Nosco HQ (2006, Copenhagen, $400K, Seed)
Cloud-based idea management solution provider
Capital Partners,Acceleraceand
Added to Editor's Pick
Servicelovers (2014, Copenhagen, $496K, Seed)
Mobile feedback app for consumers
Capnovaand
Added to Editor's Pick
KUBO (2015, Odense, $514K, Seed)
Gamified code learning platform for students
Carsten Følsgaard, Growth Fund, Anette Følsgaard and
2 other Investors

10. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/3)
Interesting Companies identified by Analysts in Denmark Tech in February 2021
Denmark Tech: Analyst Picks
10
Added to Editor's Pick
Oveo (2019, Copenhagen, $329K, Seed)
Cloud-based spend management software provider
PreSeed Ventures, Growth Fund, Ole Andersen and 1
other Investors
Added to Editor's Pick
Reepay (2014, Copenhagen, $712K, Seed)
Cloud-based subscription billing and payment gateway
solution for businesses
Dicoand
Added to Editor's Pick
SubReader (2016, Copenhagen, $176K, Seed)
App-based platform offering subtitling solutions
Christian Christensen,Jorgen Balle Olesenand
Added to Editor's Pick
Emply (2010, Frederiksberg, $1.3M, Seed)
ATS suite
Global Venture Allianceand
Added to Editor's Pick
ResoTher Pharma (2016, Holte, $275K, Seed)
Peptide-based drugs to treat neutrophil-driven
inflammation (resolution therapy)
The Danish Agency for Education and
Research,Capnovaand
Added to Editor's Pick
Hugin Expert (1996, Aalborg, $4.0K, Seed)
Enterprise fraud and risk analysis solutions provider
Morten Lilholt Nielsen,Jens Erik
Christensen,Acceleraceand
Added to Editor's Pick
TeesuVac (2013, Aarhus, $279K, Seed)
Systems for precise biopsies
The Danish Agency for Education and Research,
Capnova, VF Venture and 1 other Investors
Added to Editor's Pick
Seasony (2018, Copenhagen, $396K, Seed)
Provides robotic solution for vertical farming for food
production
Acceleraceand
Added to Editor's Pick
Pensure (2017, Copenhagen, $150K, Seed)
Online platform for pension assessment
Rene Fonseca,John Thomas,CBS Startupand
Added to Editor's Pick
Wear & Care Technologies (2012, Odense, $1.7M,
Seed)
Provider of cloud-based smart devices and solutions
for elderly care
Fredrik Tuxen, Keld Sondergaard, Kim Ardal Simonsen
and 1 other Investors
Added to Editor's Pick
Desupervised (2017, Copenhagen, $317K, Seed)
Platform providing custom AI as a Service for
developing AI applications
PreSeed Venturesand
Added to Editor's Pick
Scopito (2014, Aarhus, $426K, Seed)
Offers a drone data management software solution
The Danish Agency for Education and Research,Borean
Innovationand

11. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (3/3)
Interesting Companies identified by Analysts in Denmark Tech in February 2021
Denmark Tech: Analyst Picks
11
Added to Editor's Pick
DoseSystem (2013, Espergaerde, $7.1K, Seed)
Provider of a medication adherence management
device
Welfare Tech Invest,Syddansk Innovationand
Added to Editor's Pick
PlayAlive (2008, Vejle, $295K, Seed)
Interactive playing and learning devices
INNOTRONIC OF SCANDINAVIA APS,Niels
Julskjaer,Borean Innovationand
Added to Editor's Pick
Journl (2017, Aarhus, $354K, Seed)
Provider of remote monitoring platform for clinicians
and medical records management solutions for
patients
Peter Christensen,Firmainvest,BalaSuthas
Sundararajahand
Added to Editor's Pick
Easy Correct (2010, Frederiksberg, $111K, Seed)
Tool for teachers to provide feedback on assignments
Kickstart Innovationand

12. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
05 Feb 2021
Evaxion Biotech (2008, Copenhagen, )
Developer of vaccines against cancer and infectious diseases
$192M NASDAQ:EVAX
IPOs
List of IPOs in Denmark Tech in February 2021
Denmark Tech: IPOs
12

13. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Denmark Tech in February 2021
Denmark Tech: Acquisitions
13
Acq. Date Company Acquirer Deal Size
02 Feb 2021
Lithium Balance(2006, Ishoej)
Battery Management Systems
Sensata
02 Feb 2021
ConWX(2008, Copenhagen)
Provider of weather forecast and energy forecasting services
Volaris Group
16 Feb 2021
Heroic(2016, Copenhagen)
Esports player organization
Omaken Sports
17 Feb 2021
webCRM(2005, Copenhagen)
CRM for SMB's
Efficy
18 Feb 2021
Humio(2016, London, $32.0M)
Log management and analytics platform
CrowdStrike $400.0M
25 Feb 2021
Bulkamid(2003, London)
Provider of the bulking agent for women urinary incontinence
Axonics

14. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Denmark Tech in February 2021
Denmark Tech:News
14
Exit News
.
● Workday nabs employee feedback platform Peakon for $700M TechCrunch
.
● Dixa acquires Elevio Channel Post Middle East & Africa
.
● Sensata Technologies acquires Lithium Balance Seeking Alpha
.
● Cipio buys into AI-powered ad, marketing business Blackwood Seven AltAssets
.
● Omaken Sports Raises $18.2M and Acquires Heroic Esports Observer
.
● Volaris Group Acquires ConWX ApS GlobeNewswire
.
● Customer support company Dixa acquires SaaS knowledge platform Elevio
Directors Club
.
● Sensata acquires Lithium Balance Evertiq
.
People News
.
● Universal Robots names Kim Povlsen president The Robot Report
.
● Charlotte Kronborg Bennetsen Appointed Chief Financial Officer at Stibo
Systems Business Wire
Company News
.
● Seagen and Genmab Submit Tisotumab Vedotin Biologics License Application
to the U.S. FDA for Patients with Rec... Business Wire

15. Denmark Tech - February 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
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Explore more about Denmark Tech on Tracxn Platform
Denmark Tech: Explore more on Tracxn Platform
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