Highlighting May’s Most Significant Investment, Exit and Story

The Investment

Min Doktor raises €22.6 million for its digital doctor visits app

When Min Doktor revealed they’d raised €4.7 million at the end of 2016, they also announced that CEO Charlotta Tönsgård has been forced to step down as the shareholders looked for a new person to lead the company’s growth. Six months on, Charlotta has not been replaced, but the funding keeps coming.

I don’t know enough regarding what happened with Charlotta to provide any real insight/commentary on this, but I certainly find it interesting that a relatively early-stage company can raise a round as large as €22.6 million without the next CEO in place.

Disregarding the company’s current situation, we’ve highlighted this investment as it is one of the leading companies in the telemedicine space and is symptomatic (bad pun intended) in the shift from Nordic investors moving away from hardware and into software when investing in health and wellness in the region. With this latest investment it also becomes one of the most well-funded Nordic startups in this space, all factors that contribute to it being worthy of being considered the most significant investment of May.

*For those that would argue it should be Unity, we’ve already covered that here

 

The Exit

Sleep monitor Beddit acquired by Apple

In terms of the macro picture we shouldn’t really be surprised by Beddit being acquired by Apple. After all, we recently revealed that Every 4 months, a Nordic startup is acquired by one of tech’s big 5 (Amazon, Apple, Microsoft, Facebook, Alphabet) and with this acquisition incredibly becomes even shorter. Interestingly, the other purchase Apple made in the region was also in Finland, Indoor.io, made at the end of last year, making it 2 Finnish startups acquired by Apple within the last 6 months.

In regards to Beddit specifically, no purchase price was disclosed, as often is the case when one of the tech giants come-a-knocking, however, it is fair to say that as the company had only raised $3.5 million in total it’s likely that the investors should have seen a reasonable return on their money.

As a counterpoint to our analysis that we linked to when we talked about Min Doktor above, Beddit are one of those health hardware startups that investors are turning their heads away from, although it should also be noted that Beddit was actually founded in 2007.

Also interesting to note and rather unique for an Apple-acquired company, Beddit will continue to operate as they have been for now, although they are likely to be folded into the Apple range of products fully at some point.

 

The Story

The Swedish Court has decided to deport Tayyab Shabbab

Unbelievably, the Swedish Court have decided to deport developer Tayyab Shabbab on a technicality due to a mistake (that didn’t profit Tayyab) by a previous employer. I have been very outspoken about this since this case originally surfaced therefore I won’t go heavily into the details of it again here (Check out this petition for more detail) but I will say this:

The Nordics will NEVER fulfil its potential as a truly world-class ecosystem until conditions and regulations are improved so talent can be retained and attracted. Putting aside the way that Tayyab and his family have been treated (which is appalling) we can not allow the region to let talent be lost on technicalities if our companies are truly to compete. This is not being negative or overly dramatic, this is the reality. Tayyab is now considering his options and is looking at relocating to Canada and working for a tech company/startup there, with The Nordic’s loss being Canada’s gain, all because bureaucracy has been applied above common sense.

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.