Highlighting February’s most significant investment, exit and story

There were certainly enough investments for us to choose from in February, but in the end we elected to choose an exciting Danish startup’s seed round to go alongside yet another $1 billion+ Nordic technology exit, and the raising of a new fund from one of the Nordics most well-regarded VC firms.

The Investment

Danish Tattoodo raises $2.5 million for content and commerce tattoo lifestyle hub

For those in the know in the Danish startup scene, Tattoodo has long been one to watch, and in many ways the biggest surprise was that they hadn’t raised a sizeable amount yet, rather than any surprise that they did. Why was it so obvious then? Well, according to Alexa, Tattoodo is currently the world’s 1,038th most visited site, and has been up and around that mark since July of last year. Now with cash in the bank, and the strategic help of their new investors we can expect to hear even more from them, especially (as TechCrunch highlighted) ‘Tattooing is the sixth fastest growing market in the retail industry with about 30% of Americans getting them now’.

The Exit

Group of Chinese Internet firms to acquire Opera Software for $1.2 billion

Opera Software is one of the true originals of the Nordic startup scene, and was one of its first breakthrough successes in the mid-nineties. It’s no secret that Opera have been looking to sell for quite some time, but when it eventually came it still caused a few shockwaves. Not least because it transpires that the CEO and CTO were firmly against the sale, and that this was a decision solely supported by the board and shareholders. This conflict has been rife throughout the history of Opera, and in a way, it’s almost ironic that this the manner in which it has been sold. Nonetheless, the $1.2 billion price-point for the company was up 53% from the share-price, and can be considered a good price considering their well-documented struggles over the last year or so. Finally, although Opera was already a public company, it’s worth pointing out that the last three VC-backed $1 billion+ acquisitions in Europe all had their origins in the Nordics (King and Avito are the other two).

The Story

Creandum raised a new $200 million fund

There was a time in the not-so-distant past where Creandum would essentially have the pick of the best Nordic startups. However, with the increase in the quality and quantity of both startups and investors now operating in the region, this is no longer the case. Nonetheless, Creandum remain one of the most important investors in the Nordics, both in terms of their level of activity and their past track record. This is the firms fourth fund and will be pan-European although we can expect the majority of their investments to still be in the Nordics. In saying that, judging by the recent additions to their team, we can also expect to see their activity in Berlin pick up. Either way, we can look forward to Creandum continuing to play a big part in providing capital and support to the Nordics’ companies of tomorrow with this sizeable new fund.

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— Nathan Benaich, Playfair Capital

Neil S W Murray founded The Nordic Web in 2014 in order to provide the Nordics with the quality coverage it deserves. As well as being Founding Editor of The Nordic Web, Neil is also an active community builder in the region, participating in a number of initiatives, and has previously worked for Tech.eu.