Highlighting January’s Most Significant Investment, Exit and Story

The Investment

Norwegian app creation platform Fuse raises $12 million

Barely a day after we proclaimed that the next step in Norway’s blossoming ecosystem is for more of their companies to prove they are good enough to raise $10 million+ rounds, Fuse and Northzone must have been listening, as it was announced that the latter had invested $12 million in the former.

Fuse‘s aim is to cut development time in half by improving communication between designers and developers by allowing them to work together in real-time.

It’s great to see a prominent local investor such as Northzone providing capital of this size to a Norwegian company, however, it should not be noted that Northzone originally invested in Fuse’s $3.5 million round in 2014.

Therefore, this is not necessarily a case of Series A+ investors paying more attention to Norway, however this is a trend I am expecting to see later this year. In any case, it’s a strong, positive landmark for the Norwegian tech scene to start the year with.


The Exit

Google snapped up Sweden’s Limes Audio

After Apple and Facebook bought Nordic in December, Google were clearly suffering from a severe case of FOMO, as they moved to snap up Swedish Limes Audio to improve Hangouts voice quality, for an undisclosed sum.

Limes Audio has been working on improving the voice aspects of conference calls since 2007 and have a strong track record for experience and innovations in this field, so it’s not surprising to see Google take advantage of tapping into this by making this acquisition.

With “real” or “deep” tech a Nordic speciality, the region remains a hot-bed for acquisitions from the world’s largest tech companies. While we’ve speculated that a lot of the companies being born and raising pre-seed currently in the Nordics will struggle to survive due to the sheer number of them, it may well be that these larger tech companies such as Google and Facebook will offer a way out for some of them, as they look to profit from the talent that exists in the region.

To this end, it’s also worth pointing out that the three companies that were recently acquired by Facebook (The Eye Tribe), Apple (Indoor.io) and Google (Limes Audio) although all had raised VC, they’d all raised below $5million in total.


The Story

Facebook confirm their new data centre in Odense

Talking of tech giants, Facebook finally confirmed that they will be building their eighth data centre and third in Europe in Odense, Denmark.

The Odense data centre will be one of the most advanced, energy-efficient data centres in the world,” Facebook’s director of data centre operations, Niall McEntegart said.

While it may not make an instant or obvious direct contribution to the success of Denmark’s tech and startup scene, it does offer employment for hundreds of people, is powered by 100% renewable energy and demonstrates that Denmark as a country is able to attract companies of the ilk of Facebook, especially when it comes to their green energy expertise.

This will further establish Denmark as a place at the forefront of renewable energy and green innovation, likely to assist with further attraction of talent in these fields in the years to come.

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.