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1. TRACXN MONTHLY REPORT
MARCH 2022
DENMARK TECH

2. Denmark Tech - March 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 7
New Analyst Picks 8
Acquisitions 9
Recent News 10

3. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Denmark Tech Snapshot – March 2022
Denmark Tech: Snapshot – March 2022
Note : "Investors" refers to "Institutional Investors" only
3
$292M
4
Overall Geo Stats
5
2
15
3
7
Funding Rounds $ Invested Analyst Picks
Wasoko Upgraded
to SOONICORN
New Investors
JAM Fund
HEARTLAND
Series A+ rounds Active Investors IPOs Acquisitions
Achoo
Kassow Robots
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Aarhus
(4 Rounds, $85.0M)
Copenhagen
(2 Rounds, $201M)
Odense
(1 Rounds, $6M)
$125M - Series B
Wasoko (2015, Copenhagen, $152M)
$77M - Series D
Lunar (2015, Aarhus, $625M)
$76M - Series A
FRVR (2014, Copenhagen, $81.6M)
$6M - Series B
Cardlay (2016, Odense, $34.7M)
Tencent
(1 Investments)
Tiger Global Management
(1 Investments)
Vostok New Ventures
(1 Investments)
Accel
(1 Investments)
B2B E-Commerce
Wasoko
Online Grocery
Banking Tech
Lunar
PC & Console Gaming
FRVR
Market Size
Companies Covered 4,271
Funded Companies 1,261
Total Funding $18.0B
Funding in last 12 months $2.7B
Top Exits
IPOs 45
Acquisitions 267
Company Stage
Unicorns 4
Soonicorns 29
Minicorns 139
Editor Picks 514
Series A+ 284
Series C+ 51
Acqui-Hires 1
Deadpooled 275
Top Cities
Copenhagen (1,353 Rounds, $13.2B)
Aarhus (182 Rounds, $1.1B)
Top Investors
Accelerace (158 Investments)
Growth Fund (111 Investments)

4. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Denmark Tech as of March 2022
Denmark Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (March 2022)*
Wasoko
(2015, Copenhagen, $152M)
$125M - Series B Tiger Global Management
Lunar
(2015, Aarhus, $625M)
$77.0M - Series D Heartland Ventures
FRVR
(2014, Copenhagen, $81.6M)
$76.0M - Series A Hiro Capital
Cardlay
(2016, Odense, $34.7M)
$6.0M - Series B
ANYDAY
(2020, Aarhus, $5.3M)
$4.4M - Seed Inventure
Ento AI
(2019, Aarhus, $3.6M)
$3.6M - Seed
*Shows only the lead Investors

5. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Denmark Tech in March 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
$77.0M - Series D
Lunar (2015, Aarhus, $624.6M)
Digital bank for consumers & businesses
Heartland Ventures, IDC Ventures, Tencent, Kinnevik
EARLY STAGE
$6.0M - Series B
Cardlay (2016, Odense, $34.7M)
White label solutions for corporate cards
EARLY STAGE
$76.0M - Series A
FRVR (2014, Copenhagen, $81.6M)
Game development studio
Hiro Capital, Accel, Makers Fund
EARLY STAGE
$125.0M - Series B
Wasoko (2015, Copenhagen, $151.9M)
Digital supply chain for farm produce
Tiger Global Management, Avenir Growth Capital, JAM
Fund, Vostok New Ventures, Quona Capital, and 3
more
SEED STAGE
$3.6M - Seed
Ento AI (2019, Aarhus, $3.6M)
AI-driven building energy management solution
SEED STAGE
$4.4M - Seed
ANYDAY (2020, Aarhus, $5.3M)
Payments splitting solution for consumers
Inventure
SEED STAGE
Seed
Landfolk (2020, Aarhus)
Online community-based marketplace to book holiday
homes
HEARTLAND

6. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors
List of New Investors in Denmark Tech in March 2022
Denmark Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
JAM Fund
22 portfolio companies | Limited information available
Wasoko
Digital supply chain for farm produce
$125M Series B
HEARTLAND
2 portfolio companies | Private equity funds investing in multiple sectors
Landfolk
Online community-based marketplace to book holiday homes
Undisclosed Seed
Avenir Growth Capital
28 portfolio companies | Private equity firm making growth equity investments
Wasoko
Digital supply chain for farm produce
$125M Series B
Heartland Ventures
8 portfolio companies | Tech-focused VC firm investing in the Midwest region
Lunar
Digital bank for consumers & businesses
$77.00M Series D
Vostok New Ventures
54 portfolio companies | Tech-focused VC firm investing in companies globally
Wasoko
Digital supply chain for farm produce
$125M Series B

7. Denmark Tech - March 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.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Corporate Travel Expense Management $350M 2 Pleo | $200M | Series C
2 -- Corporate Travel & Expense Cards $350M 2 Pleo | $200M | Series C
3 -- Internet First Corporate Credit Card Issuers $350M 2 Pleo | $200M | Series C
4 ▼-2 B2B E-Commerce Software Suite $200M 1 Tradeshift | $200M | Series F
5 ▼-2 Accounts Payable and Receivable Management $200M 1 Tradeshift | $200M | Series F
6 ▼-2 Supply Chain Financing $200M 1 Tradeshift | $200M | Series F
7 ▲149 Internet First Point of Sale Financing $125M 3 ViaBill | $120M | Series B
8 -- B2B Grocery Marketplace $125M 1 Wasoko | $125M | Series B
9 -- B2B Grocery Marketplaces $125M 1 Wasoko | $125M | Series B
10 -- PC and Console Gaming Platforms $78.6M 2 FRVR | $76.0M | Series A

8. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Denmark Tech in March 2022
Denmark Tech: Analyst Picks
8
Upgraded to SOONICORN
Wasoko (2015, Copenhagen, $18.0M, Series A)
Digital supply chain for farm produce
Tiger Global Management, Avenir Growth Capital,
Vostok New Ventures and 28 other Investors
Upgraded to MINICORN
ANYDAY (2020, Aarhus, $236K, Seed)
Payments splitting solution for consumers
Inventure, Søren Soltveit, Jørgen Balle Olesen and 3
other Investors
Added to Editor's Pick
Encode (2001, Odense, $2.7M, Seed)
Provider of marketing campaign management solution
Viking Ventureand

9. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Denmark Tech in March 2022
Denmark Tech: Acquisitions
9
Acq. Date Company Acquirer Deal Size
03 Mar 2022
Achoo(2014, Copenhagen, $0.2M)
Social Monitoring and Influencer Tracking platform
mmi Analytics
21 Mar 2022
Kassow Robots(2014, Kastrup)
Developer of collaborative robotic arms for industrial applications
Bosch Rexroth

10. Denmark Tech - March 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Denmark Tech in March 2022
Denmark Tech:News
10
Exit News
.
● Dixa Acquires $ 43 Million Customer Experience Software and Automation
Pioneers Miuros and Solvemate to Delive... Business Wire
.
● Lunar set to acquire Norwegian digital bank Instabank for €132m FinTech Futures
.
● Danish platform for early childhood acquired UK-based FirstSteps ArcticStartup
.
● Advisor to DCC on the sale to Foxway ATRIUM Partners
.
● mmi Analytics acquires influencer marketing startupbusinesscloud.co.uk
.
People News
.
● Kraken Appoints Carrie Dolan as Its New Chief Financial Officer Finance Magnates
.
● Pleo welcomes new chief people officer Finextra
.
● John Little joins Logpoint as Chief Financial Officer PR Newswire
.
● JW Player Fuels Strategic Growth Efforts with Key Leadership Appointments
MarTech Series
.
● Incident IQ Announces New Vice President of Product Newswire
● Genmab Announces U.S. Food and Drug Administration Granted Orphan-Drug
Designation to Epcoritamab (DuoBody®-CD...Business Wire

11. Denmark Tech - March 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
11
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 LEO Pharma
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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