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1. TRACXN MONTHLY REPORT
FEBRUARY 2022
DENMARK TECH

2. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Denmark Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 8
New Analyst Picks 9
Acquisitions 10
Recent News 11

3. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Denmark Tech Snapshot – February 2022
Denmark Tech: Snapshot – February 2022
Note : "Investors" refers to "Institutional Investors" only
3
$241M
5
Overall Geo Stats
14
1
23
6
9
Funding Rounds $ Invested Analyst Picks
Raffle Upgraded to
MINICORN
New Investors
Evonik
STIHL
Series A+ rounds Active Investors IPOs Acquisitions
HelloFlow
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Copenhagen
(3 Rounds, $74.6M)
Aarhus
(3 Rounds, $42.9M)
Hedehusene
(1 Rounds, $3.6M)
Malling
(1 Rounds, $3.6M)
$120M - Series B
ViaBill (2014, Risskov, $132M)
$39.6M - Series B
NMD Pharma (2015, Aarhus, $116M)
$34.0M - Series C
Ageras (2012, Copenhagen, $140M)
$22.7M - Series A
Agreena (2016, Copenhagen, $33.9M)
Growth Fund
(1 Investments)
Investcorp
(1 Investments)
Roche
(1 Investments)
K1 Investment
Management
(1 Investments)
Alternative Lending
ViaBill
Neurology
NMD Pharma
Finance & Accounting Tech
Ageras
Crop Tech
Agreena
Market Size
Companies Covered 4,200
Funded Companies 1,240
Total Funding $17.7B
Funding in last 12 months $3.5B
Top Exits
IPOs 46
Acquisitions 265
Company Stage
Unicorns 5
Soonicorns 28
Minicorns 137
Editor Picks 508
Series A+ 281
Series C+ 52
Acqui-Hires 1
Deadpooled 273
Top Cities
Copenhagen (1,335 Rounds, $12.9B)
Aarhus (175 Rounds, $984M)
Top Investors
Accelerace (157 Investments)
Growth Fund (111 Investments)

4. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Denmark Tech as of February 2022
Denmark Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2022)*
ViaBill
(2014, Risskov, $132M)
$120M - Series B Fasanara
NMD Pharma
(2015, Aarhus, $116M)
$39.6M - Series B Jeito
Ageras
(2012, Copenhagen, $140M)
$34.0M - Series C Centripetal Capital Partners
Agreena
(2016, Copenhagen, $33.9M)
$22.7M - Series A Kinnevik
Raffle
(2018, Copenhagen, $19.5M)
$17.9M - Series A K1 Investment Management
Biograil
(2019, Hedehusene, $10.9M)
$3.6M - Seed Evonik
FieldSense
(2015, Aarhus, $4.8M)
$3.3M - Seed Danish Agro
*Shows only the lead Investors

5. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Denmark Tech in February 2022
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
$34.0M - Series C
Ageras (2012, Copenhagen, $139.7M)
Networking platform for accountants, lawyers and
clients
Centripetal Capital Partners, Investcorp, Finextra, ,
Saeid Esmaeilzadeh
EARLY STAGE
$17.9M - Series A
Raffle (2018, Copenhagen, $19.5M)
AI-based platform for knowledge management
K1 Investment Management
EARLY STAGE
$22.7M - Series A
Agreena (2016, Copenhagen, $33.9M)
Provider of a digital trading marketplace for
agricultural commodities
Kinnevik, Growth Fund, Giant Ventures
EARLY STAGE
$39.6M - Series B
NMD Pharma (2015, Aarhus, $115.7M)
Developper of Ion-channel targeted drugs for treating
neuromuscular synaptic disorders
Jeito, Novo Holdings, Lundbeck Foundation, Inkef
Capital, Roche
EARLY STAGE
$120.0M - Series B
ViaBill (2014, Risskov, $131.9M)
Online platform for point of sale financing
Fasanara, BlackFin, Headline
SEED STAGE
$3.3M - Seed
FieldSense (2015, Aarhus, $4.8M)
Provider of an AI and cloud-based weather tracking
system for agriculture industries
Danish Agro, Rockstart, Pajbjergfonden
SEED STAGE
$3.6M - Seed
Biograil (2019, Hedehusene, $10.9M)
Provider of technology for oral delivery of biologics
Evonik, Verve Ventures, Sanner Ventures
SEED STAGE
Seed
TinyMobileRobots (2015, Malling, $49.7K)
Manufacturer of RTK-based line marking and surveying
robots
STIHL
SEED STAGE
Angel
Lunar (2015, Aarhus, $547.6M)
Digital bank for consumers & businesses
Will Ferrell

6. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Denmark Tech in February 2022
Denmark Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Evonik
12 portfolio companies | Chemicals company focused on new materials and
technology sector
Biograil
Provider of technology for oral delivery of biologics
$3.62M Seed
STIHL
2 portfolio companies | Develops, manufacturer and distributor of power tools
TinyMobileRobots
Manufacturer of RTK-based line marking and surveying robots
Undisclosed Seed
Pajbjergfonden
1 portfolio companies | Pajbjergfonden - Form�l
FieldSense
Provider of an AI and cloud-based weather tracking system for
agriculture industries
$3.32M Seed
Sanner Ventures
3 portfolio companies | HealthTech focused seed & early stage corporate VC
firm investing in Germany
Biograil
Provider of technology for oral delivery of biologics
$3.62M Seed
K1 Investment Management
43 portfolio companies | Private equity firm focused on buyouts
Raffle
AI-based platform for knowledge management
$17.90M Series A
Investcorp
51 portfolio companies | Private equity firm and fund of funds focused on
middle-market businesses
Ageras
Networking platform for accountants, lawyers and clients
$34.04M Series C
Jeito
8 portfolio companies | Provider of financing ground-breaking medical
innovation and promoting positive societal impact services
NMD Pharma
Developper of Ion-channel targeted drugs for treating neuromuscular
synaptic disorders
$39.62M Series B
Finextra
1 portfolio companies | Denmark's Ageras raises EUR30m
Ageras
Networking platform for accountants, lawyers and clients
$34.04M Series C
Verve Ventures
116 portfolio companies | Venture capital firm investing in science & tech-driven
startups
Biograil
Provider of technology for oral delivery of biologics
$3.62M Seed
Centripetal Capital Partners
4 portfolio companies | US focused early and growth stage VC firm
Ageras
Networking platform for accountants, lawyers and clients
$34.04M Series C

7. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Denmark Tech in February 2022
Denmark Tech: List of New Investors
7
Investor Company Info Round Amount Round Name
BlackFin
5 portfolio companies | Provider of financial advisory services
ViaBill
Online platform for point of sale financing
$120M Series B
Danish Agro
1 portfolio companies | Danish Agro
FieldSense
Provider of an AI and cloud-based weather tracking system for
agriculture industries
$3.32M Seed
Fasanara
28 portfolio companies | Diversified investment management firm
ViaBill
Online platform for point of sale financing
$120M Series B
Roche
32 portfolio companies | Developer of drugs and diagnostic kits for treating
oncology and infectious diseases
NMD Pharma
Developper of Ion-channel targeted drugs for treating neuromuscular
synaptic disorders
$39.62M Series B

8. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
8
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- B2B E-Commerce Software Suite $400M 2 Tradeshift | $200M | Series F
2 -- Accounts Payable and Receivable Management $400M 2 Tradeshift | $200M | Series F
3 -- Supply Chain Financing $400M 2 Tradeshift | $200M | Series F
4 -- Corporate Travel Expense Management $350M 2 Pleo | $200M | Series C
5 -- Corporate Travel & Expense Cards $350M 2 Pleo | $200M | Series C
6 -- Internet First Corporate Credit Card Issuers $350M 2 Pleo | $200M | Series C
7 ▼-6 Alkaline Electrolyzers $229M 1 GreenHydrogen | $229M | Series C
8 -- Internet First Point of Sale Financing $120M 1 ViaBill | $120M | Series B
9 ▲4 Podcast Aggregators $78.0M 1 Podimo | $78.0M | Series B
10 -- Neurodegenerative Disorders Drugs $73.0M 1 Muna Therape.. | $73.0M | Series A

9. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Denmark Tech in February 2022
Denmark Tech: Analyst Picks
9
Upgraded to MINICORN
Raffle (2018, Copenhagen, $151K, Seed)
AI-based platform for knowledge management
K1 Investment Management,Claus Troels
Hansen,Growth Fundand
Upgraded to MINICORN
Agreena (2016, Copenhagen, $22.7M, Series A)
Provider of a digital trading marketplace for
agricultural commodities
Kinnevik, Giant Ventures, Growth Fund and 4 other
Investors
Added to Editor's Pick
KOBAJ (2018, Ballerup, $167K, Seed)
Online crowd-buying wine marketplace connecting
sellers and buyers
Heartcore Capital, Preben Damgaard, Morten Strunge
and 4 other Investors
Added to Editor's Pick
Pluto (2021, Copenhagen, $125K, Seed)
Provider of a social trading platform for individual
investors
Y Combinatorand
Added to Editor's Pick
Mazepay (2018, Aarhus, $6.5K, Seed)
Accounts payable and receivable solutions for
businesses
Outwardand
Added to Editor's Pick
2NDDAY (2020, Herning, Unfunded)
Internet first brand offering casual wear for women

10. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Denmark Tech in February 2022
Denmark Tech: Acquisitions
10
Acq. Date Company Acquirer Deal Size
08 Feb 2022
HelloFlow(2020, Copenhagen, $1.6M)
Cloud-based digital onboarding workflow management software
Trulioo

11. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Denmark Tech in February 2022
Denmark Tech:News
11
Exit News
.
● Trulioo Announces Acquisition of Custom Workflow Specialist FindBiometrics
.
● Medable Acquires LEO Pharma's Mobile Applications, Strengthens Its Global
Technical Team and European Presence Business Wire
.
● Vitec acquires the software company DocuBizz ApS Vitec
.
● Cogo acquires eScoot in mobility aggregator consolidation PhocusWire
.
People News
.
● Biller joins the Banking Circle ecosystem Bobsguide
.
● Donna Dror joins Usercentrics as new Chief Revenue Officer CNW
.
● Karen Tiltman joins Nets Group from AmEx as COO of Merchant Services
Finextra
.
Company News
.
● Bavarian Nordic receives Breakthrough Therapy Designation for vaccine
candidate for prevention of RS virus in ... GlobeNewswire

12. Denmark Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Denmark Tech on Tracxn Platform
Denmark Tech: Explore more on Tracxn Platform
12
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Denmark
AI Companies in Denmark
Fintech Companies Denmark
Consumer Digital in Denmark
Company Due Diligence
Detailed profile of Tradeshift
Competitors of LEO Pharma
Cap Tables of Lunar
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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