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TRACXN MONTHLY REPORT
FEBRUARY 2022
NORDICS TECH
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
Nordics Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 10
Top Funded Business Models - last 1 year 12
New Analyst Picks 13
Acquisitions 16
Recent News 17
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Nordics Tech Snapshot – February 2022
Nordics Tech: Snapshot – February 2022
Note : "Investors" refers to "Institutional Investors" only
3
$1.5B
23
Overall Geo Stats
20
10
117
34
44
Funding Rounds $ Invested Analyst Picks
RELEX Upgraded to
UNICORN
New Investors
Evonik
STIHL
Series A+ rounds Active Investors IPOs Acquisitions
Gunnebo Cash
Management
Workspace Recruit
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Helsinki
(10 Rounds, $729M)
Stockholm
(9 Rounds, $305M)
Espoo
(4 Rounds, $152M)
Aarhus
(3 Rounds, $42.9M)
$568M - Series D
RELEX (2005, Helsinki, $816M)
$260M - Series C
Volta Trucks (2019, Stockholm, $330M)
$136M - Series D
ICEYE (2014, Espoo, $304M)
$124M - Series C
Swappie (2016, Helsinki, $171M)
Lifeline Ventures
(2 Investments)
EQT Ventures
(2 Investments)
Alfvén & Didrikson
(2 Investments)
Y Combinator
(1 Investments)
In Store Retail Tech
RELEX
ERP
Electric Vehicles
Volta Trucks
Geographic Information Systems
ICEYE
Market Size
Companies Covered 17,896
Funded Companies 5,914
Total Funding $51.5B
Funding in last 12 months $15.1B
Top Exits
IPOs 297
Acquisitions 1,280
Company Stage
Unicorns 15
Soonicorns 92
Minicorns 481
Editor Picks 2,076
Series A+ 1,296
Series C+ 251
Acqui-Hires 5
Deadpooled 1,039
Top Cities
Copenhagen (1,346 Rounds, $13.1B)
Stockholm (1,243 Rounds, $17.9B)
Top Investors
Almi Invest (301 Investments)
Accelerace (166 Investments)
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Nordics Tech as of February 2022
Nordics Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2022)*
RELEX
(2005, Helsinki, $816M)
$568M - Series D Blackstone
Volta Trucks
(2019, Stockholm, $330M)
$260M - Series C Luxor Capital Group
ICEYE
(2014, Espoo, $304M)
$136M - Series D Seraphim Capital
Swappie
(2016, Helsinki, $171M)
$124M - Series C Verdane
ViaBill
(2014, Risskov, $132M)
$120M - Series B Fasanara
Dune Analytics
(2018, Oslo, $79.4M)
$69.4M - Series B Multicoin Capital
NMD Pharma
(2015, Aarhus, $116M)
$39.6M - Series B Jeito
Ageras
(2012, Copenhagen, $140M)
$34.0M - Series C Centripetal Capital Partners
Annotell
(2018, Gothenburg, $32.0M)
$24.0M - Series A Metaplanet
Agreena
(2016, Copenhagen, $33.9M)
$22.7M - Series A Kinnevik
Raffle
(2018, Copenhagen, $19.5M)
$17.9M - Series A K1 Investment Management
*Shows only the lead Investors
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/5)
List of Funding Rounds in Nordics Tech in February 2022
Nordics 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, Lugar
Road Capital, Saeid Esmaeilzadeh
LATE STAGE
$124.0M - Series C
Swappie (2016, Helsinki, $171.0M)
Online consignment platform for refurbished phones
Verdane, Inventure, Reaktor Ventures, , Lifeline
Ventures, and 1 more
LATE STAGE
$136.0M - Series D
ICEYE (2014, Espoo, $304.0M)
Provider of AI and microsatellite-based imaging and
data monitoring solutions
Seraphim Capital, Kajima Ventures, OTB Ventures, ,
Molten Ventures, and 8 more
LATE STAGE
$260.0M - Series C
Volta Trucks (2019, Stockholm, $329.9M)
Developer of electric trucks
Luxor Capital Group, Agility, WayPoint Capital Partners
LATE STAGE
$568.4M - Series D
RELEX (2005, Helsinki, $816.4M)
Cloud based platform offering retail enterprise
resource planning software
Blackstone
EARLY STAGE
$2.3M - Series A
Serviceform (2017, Helsinki, $2.6M)
Platform offering conversational bots for marketing
Backing Minds, Gorilla Capital
EARLY STAGE
$3.6M - Series A
AnaCardio (2017, , $3.6M)
Developer of drugs for heart failure treatment
Karolinska Development, LLD Nybohov Invest, Fredrik
Ljungström, Ann-Helene Ljungström
EARLY STAGE
$4.0M - Series A
SalesCloud (2014, Reykjavik, $4.0M)
Platform offering POS solution for offline businesses
SaltPay
EARLY STAGE
$6.0M - Series A
Return Entertainment (2019, Helsinki, $6.0M)
Developer of cloud-native games for PC and mobile
devices
BITKRAFT Ventures, SISU, 1Up Ventures, SMOK
Ventures, VGames
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/5)
List of Funding Rounds in Nordics Tech in February 2022
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$6.5M - Series A
Fundler (2015, Stockholm, $6.5M)
App-based platform for automated retirement and
pension investment management
EARLY STAGE
$6.8M - Series A
Videoly (2013, Helsinki, $8.2M)
Video marketing for e-Commerce websites
Alfvén & Didrikson, Vendep Capital, Reaktor, Kim
Väisänen
EARLY STAGE
$9.2M - Series A
Jobilla (2015, Helsinki, $11.6M)
Cloud-based applicant tracking platform for the
enterprise
Juuri Partners, Trind VC
EARLY STAGE
$11.3M - Series A
Solar Foods (2017, Helsinki, $41.6M)
Developer of sustainable protein using natural
resources
EARLY STAGE
$11.9M - Series B
Billhop (2011, Stockholm, $20.7M)
Accounts payable automation and credit card-based
invoice payment solutions for businesses
EQT Ventures, Element Ventures
EARLY STAGE
$17.0M - Series A
Depict.ai (2019, Stockholm, $19.9M)
Provider of AI-based product recommendation
platform for businesses
Tiger Global Management, Initialized Capital, EQT
Ventures, Y Combinator
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
$24.0M - Series A
Annotell (2018, Gothenburg, $32.0M)
AI and Saas-enabled platform offer training data for
autonomous vehicles
Metaplanet, NordicNinja VC, Stena Sessan, Ernström
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (3/5)
List of Funding Rounds in Nordics Tech in February 2022
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
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
$69.4M - Series B
Dune Analytics (2018, Oslo, $79.4M)
Trading signal and analytics solutions for
cryptocurrency
Coatue, Dragonfly Capital, Multicoin Capital
EARLY STAGE
$120.0M - Series B
ViaBill (2014, Risskov, $131.9M)
Online platform for point of sale financing
Fasanara, BlackFin, Headline
EARLY STAGE
Series B
Altum Technologies (2016, Helsinki)
Ultrasonic cleaning technology solution provider
Hambro Perks
EARLY STAGE
Series B
Cognite (2016, Lysaker, $225.0M)
Provider of AI-based production data analysis software
Aramco
SEED STAGE
$600.0K - Seed
LEIA (2021, Stockholm, $600.0K)
Provider of app for postpartum recovery information
The Case for Her, Fast Track Malmo, Crista Galli
Ventures, , Erik Engellau Nilsson, and 2 more
SEED STAGE
$612.9K - Seed
OlsAro (2020, , $612.9K)
Developer of salt tolerant wheat using GMO
technology
Mercari, GU Ventures, East Coast Capital Corporation,
Peter Rundlöf
SEED STAGE
$1.4M - Seed
Nezha (, , $1.4M)
Game-based prediction for markets
Nodeseeds, AU21 Capital, , 5ire, New Field Foundation,
and 2 more
SEED STAGE
$1.4M - Seed
Sniffie (2015, Helsinki, $1.4M)
Provider of pricing automation solution for
eCommerce businesses
Superhero Capital
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (4/5)
List of Funding Rounds in Nordics Tech in February 2022
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
8
SEED STAGE
$1.9M - Seed
QuantrolOx (2021, Espoo, $1.9M)
Provider of AI-enabled quantum computing software
Hoxton Ventures, Nielsen, Voima Ventures, Hermann
Hauser, Laurent Caraffa
SEED STAGE
$1.9M - Seed
Vicotee (2016, Oslo, $1.9M)
Vicotee provides hardware solutions for real-time
sensor data monitoring
SEED STAGE
$2.2M - Seed
Beleco (2016, Stockholm, $4.2M)
Online rental platform offering home furnishing
products
Alfvén & Didrikson, VEQ, Almi Invest
SEED STAGE
$2.5M - Seed
Droppe (2020, Espoo, $2.5M)
Online B2B marketplace offering safety products
Lifeline Ventures, Miki Kuusi, Ilkka Paananen
SEED STAGE
$3.0M - Seed
Holm Security (2015, Stockholm, $3.0M)
Cloud-based vulnerability scanning of enterprise
network, website, and risk assessment
Edastra Venture Capital
SEED STAGE
$3.3M - Seed
Redkik (2018, Joensuu, $3.3M)
Insurance risk analysis and quoting solutions for the
marine cargo insurance industry
MS & AD Venture, Greenlight Re, Fintech Ventures
Fund, Redstone, North Karelia Growth Fund, and 1
more
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
$3.4M - Seed
xnomad (2019, Stockholm, $3.4M)
Online marketplace for short term retail spaces
Luminar Ventures, WeWork Alumni Fund, PropTech
Farm, Joachim Hedenius
SEED STAGE
$3.6M - Seed
Biograil (2019, Hedehusene, $10.9M)
Provider of technology for oral delivery of biologics
Evonik, Verve Ventures, Sanner Ventures
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (5/5)
List of Funding Rounds in Nordics Tech in February 2022
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
9
SEED STAGE
$3.8M - Seed
Spin (2021, , $3.8M)
Online platform enabling decentralised trading in
crypto futures and options
Lemniscap, Spartan Group, LongHash, AngelDAO, GSR,
and 1 more
SEED STAGE
$4.5M - Seed
indó (2018, Reykjavik, $5.6M)
Digital bank for individuals
SEED STAGE
$11.3M - Seed
Onego Bio (2022, Espoo, $11.3M)
Platform offering animal-free egg protein
Agronomics, Maki.vc
SEED STAGE
Seed
3ngage (2016, Gothenburg)
Provider of a 3D, VR, and AR product visualization
solution
Cooach
SEED STAGE
Seed
TinyMobileRobots (2015, Malling, $49.7K)
Manufacturer of RTK-based line marking and surveying
robots
STIHL
SEED STAGE
Angel
Lunar (2015, Aarhus, $624.6M)
Digital bank for consumers & businesses
Will Ferrell
SEED STAGE
Seed
Arro (2021, Stockholm)
Cloud-based suite solutions for enterprise
collaboration
InReach Ventures
SEED STAGE
Seed
Noice (2020, Helsinki, $5.0M)
Social platform for gaming enthusiasts
RANS Entertainment
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Nordics Tech in February 2022
Nordics Tech: List of New Investors
10
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
zbspartners.com
2 portfolio companies | ZBS Capital
Nezha
Game-based prediction for markets
$1.40M Seed
Chione
2 portfolio companies | Private equity firm investing in multiple sectors
ICEYE
Provider of AI and microsatellite-based imaging and data monitoring
solutions
$136M Series D
5ire
1 portfolio companies | Blockchain-based network for interoperability & cross-
chain transfers
Nezha
Game-based prediction for markets
$1.40M Seed
ZMT Capital
6 portfolio companies | Venture capital firm investing in tech startups
Spin
Online platform enabling decentralised trading in crypto futures and
options
$3.75M Seed
New Field Foundation
1 portfolio companies | New Field Foundation :: Home Page
Nezha
Game-based prediction for markets
$1.40M 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
Nodeseeds
3 portfolio companies | Nodeseeds
Nezha
Game-based prediction for markets
$1.40M Seed
Spartan Group
56 portfolio companies | Boutique investment banking firm
Spin
Online platform enabling decentralised trading in crypto futures and
options
$3.75M Seed
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Nordics Tech in February 2022
Nordics Tech: List of New Investors
11
Investor Company Info Round Amount Round Name
LongHash
9 portfolio companies | Provider of investment fund and accelerator
collaborating services
Spin
Online platform enabling decentralised trading in crypto futures and
options
$3.75M 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
North Karelia Growth Fund
1 portfolio companies | Venture capital firm investing in multiple sectors
Redkik
Insurance risk analysis and quoting solutions for the marine cargo
insurance industry
$3.30M Seed
BAE Systems
5 portfolio companies | Provider of a suite of cybersecurity solutions
ICEYE
Provider of AI and microsatellite-based imaging and data monitoring
solutions
$136M Series D
Gorilla Capital
1 portfolio companies | Real estate investment trust focusing on re-selling.
Serviceform
Platform offering conversational bots for marketing
$2.27M Series A
WayPoint Capital Partners
2 portfolio companies | Family office focused on satellite & cable related
startups
Volta Trucks
Developer of electric trucks
$260M Series C
WeWork Alumni Fund
1 portfolio companies | Portfolio | WeWork Alumni Fund
xnomad
Online marketplace for short term retail spaces
$3.41M 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
Aramco
4 portfolio companies | Oil and gas exploration and production company
Cognite
Provider of AI-based production data analysis software
Undisclosed Series B
Nordics 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.
12
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲3 Lithium Ion Batteries $2.8B 1 Northvolt | $2.8B | Unattributed
2 ▼-1 Internet First Point of Sale Financing $1.8B 5 Klarna | $1.0B | Series H
3 ▼-1 Retail Stores Shopper Financing Platforms $1.7B 4 Klarna | $1.0B | Series H
4 -- Retail Stores Software Suite $568M 1 RELEX | $568M | Series D
5 -- Electric Car Manufacturers $550M 1 Polestar | $550M | Unattributed
6 ▼-1 Music Licensing Marketplace $467M 2 Epidemic Sound | $450M | Series D
7 ▲20 Web Based Platform for Doctor Consultation $419M 5 KRY | $317M | Series D
8 <> 0 B2B E-Commerce Software Suite $400M 2 Tradeshift | $200M | Series F
9 <> 0 Accounts Payable and Receivable Management $400M 2 Tradeshift | $200M | Series F
10 ▲1 Supply Chain Financing $400M 2 Tradeshift | $200M | Series F
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/3)
Interesting Companies identified by Analysts in Nordics Tech in February 2022
Nordics Tech: Analyst Picks
13
Upgraded to UNICORN
RELEX (2005, Helsinki, $22.4M, Series B)
Cloud based platform offering retail enterprise
resource planning software
Blackstone, TCV, Summit Partners and 1 other
Investors
Upgraded to UNICORN
Dune Analytics (2018, Oslo, $8.0M, Series A)
Trading signal and analytics solutions for
cryptocurrency
Multicoin Capital, Dragonfly Capital, Coatue and 13
other Investors
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
Depict.ai (2019, Stockholm, $150K, Seed)
Provider of AI-based product recommendation
platform for businesses
Tiger Global Management, Initialized Capital, EQT
Ventures and 5 other Investors
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
Upgraded to MINICORN
Spin (2021, , $3.8M, Seed)
Online platform enabling decentralised trading in
crypto futures and options
Lemniscap, Spartan Group, GSR and 3 other Investors
Upgraded to MINICORN
Return Entertainment (2019, Helsinki, $6.0M,
Series A)
Developer of cloud-native games for PC and mobile
devices
SMOK Ventures, 1Up Ventures, SISU and 2 other
Investors
Upgraded to MINICORN
Jobilla (2015, Helsinki, $2.4M, Seed)
Cloud-based applicant tracking platform for the
enterprise
Juuri Partners,Trind VC,Trado Capitaland
Upgraded to MINICORN
Fundler (2015, Stockholm, $6.5M, Series A)
App-based platform for automated retirement and
pension investment management
Upgraded to MINICORN
SalesCloud (2014, Reykjavik, $4.0M, Series A)
Platform offering POS solution for offline businesses
SaltPayand
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/3)
Interesting Companies identified by Analysts in Nordics Tech in February 2022
Nordics Tech: Analyst Picks
14
Added to Editor's Pick
BRANTU (2016, Stockholm, $1.2M, Seed)
E-commerce fashion company
Sawari Ventures,THINK Accelerate,VentureLaband
Added to Editor's Pick
Adnavem (2017, Gothenburg, Undisclosed, Series A)
Online market platform for multi-modal freight
forwarding services
Volvo Group,Runa Capital,Spintop Venturesand
Added to Editor's Pick
Edgefolio (2013, Oslo, Undisclosed, Seed)
Technology platform for asset managers raising capital
Seedcamp, BetaFactory, Simula Research Laboratory
and 1 other Investors
Added to Editor's Pick
Kleoverse (2021, Helsinki, $1.2M, Seed)
Online platform offering data related to DAOs
Ville Vesterinen, Equilibrium, Byfounders and 1 other
Investors
Added to Editor's Pick
Sniffie (2015, Helsinki, $1.6M, Conventional Debt)
Provider of pricing automation solution for
eCommerce businesses
Superhero Capital,Business Finlandand
Added to Editor's Pick
Bifrost Wallet (2021, Stockholm, Unfunded)
Mobile-based cold wallet for cryptocurrency
Cherubic Venturesand
Added to Editor's Pick
Campanyon (2020, Oslo, $565K, Seed)
Online campsite accommodation booking platform
Schibsted Media Group, Eirik Frøyland Ribe, Even
Heggernes and 6 other Investors
Added to Editor's Pick
Abarceo (2017, Malmo, Undisclosed, Grant (prize
money))
Developer of therapeutics for type-2 diabetes and
other diseases
Almi Invest,EIT Healthand
Added to Editor's Pick
Enode (2020, Oslo, $125K, Seed)
Offering SaaS based platform to connect energy assets
with API
Alliance Venture, Skyfall Ventures, Y Combinator and 2
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
Spectaflow (2015, Reykjavik, $1.9M, Seed)
Provider of web-based housekeeping and maintenance
solutions for hotels
Frumtak Ventures, The Icelandic Innovation Fund,
Grimur Saemundsen and 3 other Investors
Added to Editor's Pick
Droppe (2020, Espoo, $2.5M, Seed)
Online B2B marketplace offering safety products
Lifeline Ventures,Miki Kuusi,Ilkka Paananenand
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (3/3)
Interesting Companies identified by Analysts in Nordics Tech in February 2022
Nordics Tech: Analyst Picks
15
Added to Editor's Pick
CDLP (2016, Stockholm, $4.8M, Angel)
Internet-first brand offering innerwear for men
Tom Chapman, Cristina Stenbeck, Norrsken Foundation
and 3 other Investors
Added to Editor's Pick
Starflow (2016, Stockholm, $2.4M, Seed)
Online platform offering courses on cooking
Speed Ventures, Kichi Invest, Fredrik Wester and 2
other Investors
Added to Editor's Pick
SIQ Basketball (2008, Helsinki, $1.0M, Seed)
Provider of a smart ball-based performance analysis
solution for basketball
Tera Ventures,KB Partnersand
Added to Editor's Pick
Rocky Road (2021, , $2.5M, Seed)
Developer of casual mobile games
Crowberry Capital,SISUand
Added to Editor's Pick
Bemlo (2019, Stockholm, $125K, Seed)
Online job portal for healthcare professionals
Y Combinatorand
Added to Editor's Pick
Speys Oy (1998, Jorvas, $1.1M, Seed)
Software solutions for logistics services
Innovestorand
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
Kasta (2020, Stockholm, Unfunded)
Online wallet to store, transfer and receive
cryptocurrency
Added to Editor's Pick
Mazepay (2018, Aarhus, $6.5K, Seed)
Accounts payable and receivable solutions for
businesses
Outwardand
Added to Editor's Pick
Collegial (2014, Stockholm, Unfunded)
Provider of a learning platform for organizations
Added to Editor's Pick
(2022, Unfunded)
Provider of blockchain network
Added to Editor's Pick
2NDDAY (2020, Herning, Unfunded)
Internet first brand offering casual wear for women
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Nordics Tech in February 2022
Nordics Tech: Acquisitions
16
Acq. Date Company Acquirer Deal Size
01 Feb 2022
Gunnebo Cash Management(2019)
Software for cash management
Sesami
02 Feb 2022
Workspace Recruit(2009, Malmo)
Online platform for diversity recruiting
Poolia $1.9M
02 Feb 2022
Cenium(2003, Oslo)
Hospitality management system.
Mews
08 Feb 2022
HelloFlow(2020, Copenhagen, $1.6M)
Cloud-based digital onboarding workflow management software
Trulioo
09 Feb 2022
NetOnNet(1999, Boras)
Online retailer of consumer electronics products
Komplett Group $415.5M
09 Feb 2022
E-ville(2006, Mantsala)
Online marketplace offering multi-category products
Verkkokauppa
15 Feb 2022
MedBase(2007, Turku)
Drug Information and decision support database
Vaaka Partners
15 Feb 2022
FluxLoop(2012, Oslo)
Consumer intelligence solutions provider
Kogenta
22 Feb 2022
Aidian(1974, Espoo)
Provider clinical diagnostic and hygiene monitoring tests
Nordstjernan
22 Feb 2022
Medified Solutions(2019, Tampere)
Monitoring software provider for depression treatment
Mindler
Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Nordics Tech in February 2022
Nordics Tech:News
17
Exit News
.
● Spotify acquires Podsights and Chartable to advance its podcasting business
The Star Online
.
● Trulioo Announces Acquisition of Custom Workflow Specialist FindBiometrics
.
● Paragon 28 acquires Disior Oy for $18M Seeking Alpha
.
● Swedish challenger Northmill acquires Zettle-rival MorefloAltFi
.
● Mews continues hotel tech rollup, acquires Cenium PhocusWire
.
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Tracxn - Geo Monthly Report - Nordics Tech - Feb 2022

  • 1. TRACXN MONTHLY REPORT FEBRUARY 2022 NORDICS TECH
  • 2. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Contents 2 Nordics Tech Snapshot 3 Investment Snapshot 4 List of Funding Rounds 5 New Investors 10 Top Funded Business Models - last 1 year 12 New Analyst Picks 13 Acquisitions 16 Recent News 17
  • 3. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Nordics Tech Snapshot – February 2022 Nordics Tech: Snapshot – February 2022 Note : "Investors" refers to "Institutional Investors" only 3 $1.5B 23 Overall Geo Stats 20 10 117 34 44 Funding Rounds $ Invested Analyst Picks RELEX Upgraded to UNICORN New Investors Evonik STIHL Series A+ rounds Active Investors IPOs Acquisitions Gunnebo Cash Management Workspace Recruit Top Funding Rounds Top Markets Top Investors Top Cities Monthly Leader Board Helsinki (10 Rounds, $729M) Stockholm (9 Rounds, $305M) Espoo (4 Rounds, $152M) Aarhus (3 Rounds, $42.9M) $568M - Series D RELEX (2005, Helsinki, $816M) $260M - Series C Volta Trucks (2019, Stockholm, $330M) $136M - Series D ICEYE (2014, Espoo, $304M) $124M - Series C Swappie (2016, Helsinki, $171M) Lifeline Ventures (2 Investments) EQT Ventures (2 Investments) Alfvén & Didrikson (2 Investments) Y Combinator (1 Investments) In Store Retail Tech RELEX ERP Electric Vehicles Volta Trucks Geographic Information Systems ICEYE Market Size Companies Covered 17,896 Funded Companies 5,914 Total Funding $51.5B Funding in last 12 months $15.1B Top Exits IPOs 297 Acquisitions 1,280 Company Stage Unicorns 15 Soonicorns 92 Minicorns 481 Editor Picks 2,076 Series A+ 1,296 Series C+ 251 Acqui-Hires 5 Deadpooled 1,039 Top Cities Copenhagen (1,346 Rounds, $13.1B) Stockholm (1,243 Rounds, $17.9B) Top Investors Almi Invest (301 Investments) Accelerace (166 Investments)
  • 4. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Investment Snapshot Investment Snapshot of Nordics Tech as of February 2022 Nordics Tech: Investment Snapshot 4 # Rounds $ Funding Investment Trend Top Investments (February 2022)* RELEX (2005, Helsinki, $816M) $568M - Series D Blackstone Volta Trucks (2019, Stockholm, $330M) $260M - Series C Luxor Capital Group ICEYE (2014, Espoo, $304M) $136M - Series D Seraphim Capital Swappie (2016, Helsinki, $171M) $124M - Series C Verdane ViaBill (2014, Risskov, $132M) $120M - Series B Fasanara Dune Analytics (2018, Oslo, $79.4M) $69.4M - Series B Multicoin Capital NMD Pharma (2015, Aarhus, $116M) $39.6M - Series B Jeito Ageras (2012, Copenhagen, $140M) $34.0M - Series C Centripetal Capital Partners Annotell (2018, Gothenburg, $32.0M) $24.0M - Series A Metaplanet Agreena (2016, Copenhagen, $33.9M) $22.7M - Series A Kinnevik Raffle (2018, Copenhagen, $19.5M) $17.9M - Series A K1 Investment Management *Shows only the lead Investors
  • 5. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (1/5) List of Funding Rounds in Nordics Tech in February 2022 Nordics 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, Lugar Road Capital, Saeid Esmaeilzadeh LATE STAGE $124.0M - Series C Swappie (2016, Helsinki, $171.0M) Online consignment platform for refurbished phones Verdane, Inventure, Reaktor Ventures, , Lifeline Ventures, and 1 more LATE STAGE $136.0M - Series D ICEYE (2014, Espoo, $304.0M) Provider of AI and microsatellite-based imaging and data monitoring solutions Seraphim Capital, Kajima Ventures, OTB Ventures, , Molten Ventures, and 8 more LATE STAGE $260.0M - Series C Volta Trucks (2019, Stockholm, $329.9M) Developer of electric trucks Luxor Capital Group, Agility, WayPoint Capital Partners LATE STAGE $568.4M - Series D RELEX (2005, Helsinki, $816.4M) Cloud based platform offering retail enterprise resource planning software Blackstone EARLY STAGE $2.3M - Series A Serviceform (2017, Helsinki, $2.6M) Platform offering conversational bots for marketing Backing Minds, Gorilla Capital EARLY STAGE $3.6M - Series A AnaCardio (2017, , $3.6M) Developer of drugs for heart failure treatment Karolinska Development, LLD Nybohov Invest, Fredrik Ljungström, Ann-Helene Ljungström EARLY STAGE $4.0M - Series A SalesCloud (2014, Reykjavik, $4.0M) Platform offering POS solution for offline businesses SaltPay EARLY STAGE $6.0M - Series A Return Entertainment (2019, Helsinki, $6.0M) Developer of cloud-native games for PC and mobile devices BITKRAFT Ventures, SISU, 1Up Ventures, SMOK Ventures, VGames
  • 6. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (2/5) List of Funding Rounds in Nordics Tech in February 2022 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 6 EARLY STAGE $6.5M - Series A Fundler (2015, Stockholm, $6.5M) App-based platform for automated retirement and pension investment management EARLY STAGE $6.8M - Series A Videoly (2013, Helsinki, $8.2M) Video marketing for e-Commerce websites Alfvén & Didrikson, Vendep Capital, Reaktor, Kim Väisänen EARLY STAGE $9.2M - Series A Jobilla (2015, Helsinki, $11.6M) Cloud-based applicant tracking platform for the enterprise Juuri Partners, Trind VC EARLY STAGE $11.3M - Series A Solar Foods (2017, Helsinki, $41.6M) Developer of sustainable protein using natural resources EARLY STAGE $11.9M - Series B Billhop (2011, Stockholm, $20.7M) Accounts payable automation and credit card-based invoice payment solutions for businesses EQT Ventures, Element Ventures EARLY STAGE $17.0M - Series A Depict.ai (2019, Stockholm, $19.9M) Provider of AI-based product recommendation platform for businesses Tiger Global Management, Initialized Capital, EQT Ventures, Y Combinator 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 $24.0M - Series A Annotell (2018, Gothenburg, $32.0M) AI and Saas-enabled platform offer training data for autonomous vehicles Metaplanet, NordicNinja VC, Stena Sessan, Ernström
  • 7. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (3/5) List of Funding Rounds in Nordics Tech in February 2022 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 7 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 $69.4M - Series B Dune Analytics (2018, Oslo, $79.4M) Trading signal and analytics solutions for cryptocurrency Coatue, Dragonfly Capital, Multicoin Capital EARLY STAGE $120.0M - Series B ViaBill (2014, Risskov, $131.9M) Online platform for point of sale financing Fasanara, BlackFin, Headline EARLY STAGE Series B Altum Technologies (2016, Helsinki) Ultrasonic cleaning technology solution provider Hambro Perks EARLY STAGE Series B Cognite (2016, Lysaker, $225.0M) Provider of AI-based production data analysis software Aramco SEED STAGE $600.0K - Seed LEIA (2021, Stockholm, $600.0K) Provider of app for postpartum recovery information The Case for Her, Fast Track Malmo, Crista Galli Ventures, , Erik Engellau Nilsson, and 2 more SEED STAGE $612.9K - Seed OlsAro (2020, , $612.9K) Developer of salt tolerant wheat using GMO technology Mercari, GU Ventures, East Coast Capital Corporation, Peter Rundlöf SEED STAGE $1.4M - Seed Nezha (, , $1.4M) Game-based prediction for markets Nodeseeds, AU21 Capital, , 5ire, New Field Foundation, and 2 more SEED STAGE $1.4M - Seed Sniffie (2015, Helsinki, $1.4M) Provider of pricing automation solution for eCommerce businesses Superhero Capital
  • 8. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (4/5) List of Funding Rounds in Nordics Tech in February 2022 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 8 SEED STAGE $1.9M - Seed QuantrolOx (2021, Espoo, $1.9M) Provider of AI-enabled quantum computing software Hoxton Ventures, Nielsen, Voima Ventures, Hermann Hauser, Laurent Caraffa SEED STAGE $1.9M - Seed Vicotee (2016, Oslo, $1.9M) Vicotee provides hardware solutions for real-time sensor data monitoring SEED STAGE $2.2M - Seed Beleco (2016, Stockholm, $4.2M) Online rental platform offering home furnishing products Alfvén & Didrikson, VEQ, Almi Invest SEED STAGE $2.5M - Seed Droppe (2020, Espoo, $2.5M) Online B2B marketplace offering safety products Lifeline Ventures, Miki Kuusi, Ilkka Paananen SEED STAGE $3.0M - Seed Holm Security (2015, Stockholm, $3.0M) Cloud-based vulnerability scanning of enterprise network, website, and risk assessment Edastra Venture Capital SEED STAGE $3.3M - Seed Redkik (2018, Joensuu, $3.3M) Insurance risk analysis and quoting solutions for the marine cargo insurance industry MS & AD Venture, Greenlight Re, Fintech Ventures Fund, Redstone, North Karelia Growth Fund, and 1 more 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 $3.4M - Seed xnomad (2019, Stockholm, $3.4M) Online marketplace for short term retail spaces Luminar Ventures, WeWork Alumni Fund, PropTech Farm, Joachim Hedenius SEED STAGE $3.6M - Seed Biograil (2019, Hedehusene, $10.9M) Provider of technology for oral delivery of biologics Evonik, Verve Ventures, Sanner Ventures
  • 9. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (5/5) List of Funding Rounds in Nordics Tech in February 2022 Nordics Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 9 SEED STAGE $3.8M - Seed Spin (2021, , $3.8M) Online platform enabling decentralised trading in crypto futures and options Lemniscap, Spartan Group, LongHash, AngelDAO, GSR, and 1 more SEED STAGE $4.5M - Seed indó (2018, Reykjavik, $5.6M) Digital bank for individuals SEED STAGE $11.3M - Seed Onego Bio (2022, Espoo, $11.3M) Platform offering animal-free egg protein Agronomics, Maki.vc SEED STAGE Seed 3ngage (2016, Gothenburg) Provider of a 3D, VR, and AR product visualization solution Cooach SEED STAGE Seed TinyMobileRobots (2015, Malling, $49.7K) Manufacturer of RTK-based line marking and surveying robots STIHL SEED STAGE Angel Lunar (2015, Aarhus, $624.6M) Digital bank for consumers & businesses Will Ferrell SEED STAGE Seed Arro (2021, Stockholm) Cloud-based suite solutions for enterprise collaboration InReach Ventures SEED STAGE Seed Noice (2020, Helsinki, $5.0M) Social platform for gaming enthusiasts RANS Entertainment
  • 10. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Investors (1/2) List of New Investors in Nordics Tech in February 2022 Nordics Tech: List of New Investors 10 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 zbspartners.com 2 portfolio companies | ZBS Capital Nezha Game-based prediction for markets $1.40M Seed Chione 2 portfolio companies | Private equity firm investing in multiple sectors ICEYE Provider of AI and microsatellite-based imaging and data monitoring solutions $136M Series D 5ire 1 portfolio companies | Blockchain-based network for interoperability & cross- chain transfers Nezha Game-based prediction for markets $1.40M Seed ZMT Capital 6 portfolio companies | Venture capital firm investing in tech startups Spin Online platform enabling decentralised trading in crypto futures and options $3.75M Seed New Field Foundation 1 portfolio companies | New Field Foundation :: Home Page Nezha Game-based prediction for markets $1.40M 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 Nodeseeds 3 portfolio companies | Nodeseeds Nezha Game-based prediction for markets $1.40M Seed Spartan Group 56 portfolio companies | Boutique investment banking firm Spin Online platform enabling decentralised trading in crypto futures and options $3.75M Seed
  • 11. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Investors (2/2) List of New Investors in Nordics Tech in February 2022 Nordics Tech: List of New Investors 11 Investor Company Info Round Amount Round Name LongHash 9 portfolio companies | Provider of investment fund and accelerator collaborating services Spin Online platform enabling decentralised trading in crypto futures and options $3.75M 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 North Karelia Growth Fund 1 portfolio companies | Venture capital firm investing in multiple sectors Redkik Insurance risk analysis and quoting solutions for the marine cargo insurance industry $3.30M Seed BAE Systems 5 portfolio companies | Provider of a suite of cybersecurity solutions ICEYE Provider of AI and microsatellite-based imaging and data monitoring solutions $136M Series D Gorilla Capital 1 portfolio companies | Real estate investment trust focusing on re-selling. Serviceform Platform offering conversational bots for marketing $2.27M Series A WayPoint Capital Partners 2 portfolio companies | Family office focused on satellite & cable related startups Volta Trucks Developer of electric trucks $260M Series C WeWork Alumni Fund 1 portfolio companies | Portfolio | WeWork Alumni Fund xnomad Online marketplace for short term retail spaces $3.41M 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 Aramco 4 portfolio companies | Oil and gas exploration and production company Cognite Provider of AI-based production data analysis software Undisclosed Series B
  • 12. Nordics 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. 12 Rank Business Model $ Funding # Rounds Top Funding Round 1 ▲3 Lithium Ion Batteries $2.8B 1 Northvolt | $2.8B | Unattributed 2 ▼-1 Internet First Point of Sale Financing $1.8B 5 Klarna | $1.0B | Series H 3 ▼-1 Retail Stores Shopper Financing Platforms $1.7B 4 Klarna | $1.0B | Series H 4 -- Retail Stores Software Suite $568M 1 RELEX | $568M | Series D 5 -- Electric Car Manufacturers $550M 1 Polestar | $550M | Unattributed 6 ▼-1 Music Licensing Marketplace $467M 2 Epidemic Sound | $450M | Series D 7 ▲20 Web Based Platform for Doctor Consultation $419M 5 KRY | $317M | Series D 8 <> 0 B2B E-Commerce Software Suite $400M 2 Tradeshift | $200M | Series F 9 <> 0 Accounts Payable and Receivable Management $400M 2 Tradeshift | $200M | Series F 10 ▲1 Supply Chain Financing $400M 2 Tradeshift | $200M | Series F
  • 13. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Analyst Picks (1/3) Interesting Companies identified by Analysts in Nordics Tech in February 2022 Nordics Tech: Analyst Picks 13 Upgraded to UNICORN RELEX (2005, Helsinki, $22.4M, Series B) Cloud based platform offering retail enterprise resource planning software Blackstone, TCV, Summit Partners and 1 other Investors Upgraded to UNICORN Dune Analytics (2018, Oslo, $8.0M, Series A) Trading signal and analytics solutions for cryptocurrency Multicoin Capital, Dragonfly Capital, Coatue and 13 other Investors 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 Depict.ai (2019, Stockholm, $150K, Seed) Provider of AI-based product recommendation platform for businesses Tiger Global Management, Initialized Capital, EQT Ventures and 5 other Investors 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 Upgraded to MINICORN Spin (2021, , $3.8M, Seed) Online platform enabling decentralised trading in crypto futures and options Lemniscap, Spartan Group, GSR and 3 other Investors Upgraded to MINICORN Return Entertainment (2019, Helsinki, $6.0M, Series A) Developer of cloud-native games for PC and mobile devices SMOK Ventures, 1Up Ventures, SISU and 2 other Investors Upgraded to MINICORN Jobilla (2015, Helsinki, $2.4M, Seed) Cloud-based applicant tracking platform for the enterprise Juuri Partners,Trind VC,Trado Capitaland Upgraded to MINICORN Fundler (2015, Stockholm, $6.5M, Series A) App-based platform for automated retirement and pension investment management Upgraded to MINICORN SalesCloud (2014, Reykjavik, $4.0M, Series A) Platform offering POS solution for offline businesses SaltPayand
  • 14. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Analyst Picks (2/3) Interesting Companies identified by Analysts in Nordics Tech in February 2022 Nordics Tech: Analyst Picks 14 Added to Editor's Pick BRANTU (2016, Stockholm, $1.2M, Seed) E-commerce fashion company Sawari Ventures,THINK Accelerate,VentureLaband Added to Editor's Pick Adnavem (2017, Gothenburg, Undisclosed, Series A) Online market platform for multi-modal freight forwarding services Volvo Group,Runa Capital,Spintop Venturesand Added to Editor's Pick Edgefolio (2013, Oslo, Undisclosed, Seed) Technology platform for asset managers raising capital Seedcamp, BetaFactory, Simula Research Laboratory and 1 other Investors Added to Editor's Pick Kleoverse (2021, Helsinki, $1.2M, Seed) Online platform offering data related to DAOs Ville Vesterinen, Equilibrium, Byfounders and 1 other Investors Added to Editor's Pick Sniffie (2015, Helsinki, $1.6M, Conventional Debt) Provider of pricing automation solution for eCommerce businesses Superhero Capital,Business Finlandand Added to Editor's Pick Bifrost Wallet (2021, Stockholm, Unfunded) Mobile-based cold wallet for cryptocurrency Cherubic Venturesand Added to Editor's Pick Campanyon (2020, Oslo, $565K, Seed) Online campsite accommodation booking platform Schibsted Media Group, Eirik Frøyland Ribe, Even Heggernes and 6 other Investors Added to Editor's Pick Abarceo (2017, Malmo, Undisclosed, Grant (prize money)) Developer of therapeutics for type-2 diabetes and other diseases Almi Invest,EIT Healthand Added to Editor's Pick Enode (2020, Oslo, $125K, Seed) Offering SaaS based platform to connect energy assets with API Alliance Venture, Skyfall Ventures, Y Combinator and 2 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 Spectaflow (2015, Reykjavik, $1.9M, Seed) Provider of web-based housekeeping and maintenance solutions for hotels Frumtak Ventures, The Icelandic Innovation Fund, Grimur Saemundsen and 3 other Investors Added to Editor's Pick Droppe (2020, Espoo, $2.5M, Seed) Online B2B marketplace offering safety products Lifeline Ventures,Miki Kuusi,Ilkka Paananenand
  • 15. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Analyst Picks (3/3) Interesting Companies identified by Analysts in Nordics Tech in February 2022 Nordics Tech: Analyst Picks 15 Added to Editor's Pick CDLP (2016, Stockholm, $4.8M, Angel) Internet-first brand offering innerwear for men Tom Chapman, Cristina Stenbeck, Norrsken Foundation and 3 other Investors Added to Editor's Pick Starflow (2016, Stockholm, $2.4M, Seed) Online platform offering courses on cooking Speed Ventures, Kichi Invest, Fredrik Wester and 2 other Investors Added to Editor's Pick SIQ Basketball (2008, Helsinki, $1.0M, Seed) Provider of a smart ball-based performance analysis solution for basketball Tera Ventures,KB Partnersand Added to Editor's Pick Rocky Road (2021, , $2.5M, Seed) Developer of casual mobile games Crowberry Capital,SISUand Added to Editor's Pick Bemlo (2019, Stockholm, $125K, Seed) Online job portal for healthcare professionals Y Combinatorand Added to Editor's Pick Speys Oy (1998, Jorvas, $1.1M, Seed) Software solutions for logistics services Innovestorand 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 Kasta (2020, Stockholm, Unfunded) Online wallet to store, transfer and receive cryptocurrency Added to Editor's Pick Mazepay (2018, Aarhus, $6.5K, Seed) Accounts payable and receivable solutions for businesses Outwardand Added to Editor's Pick Collegial (2014, Stockholm, Unfunded) Provider of a learning platform for organizations Added to Editor's Pick (2022, Unfunded) Provider of blockchain network Added to Editor's Pick 2NDDAY (2020, Herning, Unfunded) Internet first brand offering casual wear for women
  • 16. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Acquisitions List of Acquisitions in Nordics Tech in February 2022 Nordics Tech: Acquisitions 16 Acq. Date Company Acquirer Deal Size 01 Feb 2022 Gunnebo Cash Management(2019) Software for cash management Sesami 02 Feb 2022 Workspace Recruit(2009, Malmo) Online platform for diversity recruiting Poolia $1.9M 02 Feb 2022 Cenium(2003, Oslo) Hospitality management system. Mews 08 Feb 2022 HelloFlow(2020, Copenhagen, $1.6M) Cloud-based digital onboarding workflow management software Trulioo 09 Feb 2022 NetOnNet(1999, Boras) Online retailer of consumer electronics products Komplett Group $415.5M 09 Feb 2022 E-ville(2006, Mantsala) Online marketplace offering multi-category products Verkkokauppa 15 Feb 2022 MedBase(2007, Turku) Drug Information and decision support database Vaaka Partners 15 Feb 2022 FluxLoop(2012, Oslo) Consumer intelligence solutions provider Kogenta 22 Feb 2022 Aidian(1974, Espoo) Provider clinical diagnostic and hygiene monitoring tests Nordstjernan 22 Feb 2022 Medified Solutions(2019, Tampere) Monitoring software provider for depression treatment Mindler
  • 17. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Recent News (1/2) Recent News in Nordics Tech in February 2022 Nordics Tech:News 17 Exit News . ● Spotify acquires Podsights and Chartable to advance its podcasting business The Star Online . ● Trulioo Announces Acquisition of Custom Workflow Specialist FindBiometrics . ● Paragon 28 acquires Disior Oy for $18M Seeking Alpha . ● Swedish challenger Northmill acquires Zettle-rival MorefloAltFi . ● Mews continues hotel tech rollup, acquires Cenium PhocusWire . ● Mindler scoops up Finnish mental health tracker Medified Solutions Oy MobiHealthNews . ● Verkkokauppa.com buys the e-ville.com online store to strengthen its range of own brandsGlobeNewswire . ● Devyser Diagnostics Fully Acquires Data Analysis Software Maker SmartSeq 360Dx . Fund News . ● Sweden's Wellstreet launches $40m fintech fund Finextra ● Lisa Farris appointed Chief Marketing Officer at B2B music service Soundtrack Your Brand MBW . ● OvationMR Hires Joe Jordan to Drive Global CX and Innovation PRWeb . ● ECI expands team with three new hires Business Money . ● Fastems taps new president of its U.S. operations Canadian Metalworking . ● Donna Dror joins Usercentrics as new Chief Revenue Officer CNW . ● Pexip appoints Johannessen as CEO Telecompaper . Company News . ● Bavarian Nordic receives Breakthrough Therapy Designation for vaccine candidate for prevention of RS virus in ... GlobeNewswire . ● Ambu Announces FDA Clearance of Single-Use Gastroscope and Next- Generation Display Unit Business Wire . ● FDA OKs XVIVO's Kidney Assist Transportmpo-mag.com
  • 18. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Recent News (2/2) Recent News in Nordics Tech in February 2022 Nordics Tech:News 18 Regulatory News . ● Regulator investigation into door and window manufacturer acquisition TheBusinessDesk.com . ● US authorities reportedly aware of Ericsson Iraq probe MobileWorldLive . ● FCA announces changes to 'unfair' BNPL contracts FStech
  • 19. Nordics Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Explore more on Tracxn Explore more about Nordics Tech on Tracxn Platform Nordics Tech: Explore more on Tracxn Platform 19 Companies Recent Companies Covered Funded Companies Editor's Pick Soonicorn Club SaaS Companies in Nordics AI Companies in Nordics Fintech Companies Nordics Consumer Digital in Nordics Company Due Diligence Detailed profile of Tradeshift Competitors of RELEX 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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