Investments, Exits and Top Stories for Nordic Startups from January

In the first month of the new year, the action, along with the temperature began to warm up before getting colder once more. Still, although exits (as to be expected) were quiet, the number of investments were more than respectable as expectations remain high for 2018 being a pivotal year in the region.




Area9 raises $30 million

Fintech startup Cardlay raises €4 million in Series A funding

Firstagenda has raised 18MDKK from The Danish Growth Fund

Accelerace closes a $1.7M investment from The Danish Growth Fund, Færchfonden and Symbion

TeacherGaming, a startup from MinecraftEdu team, raises $1.6M to put games into the classroom

Customer service platform Dixa has raised 11MDKK

Fantastic, Yes grabs €1M in funding from M2 Entertainment, will launch next game in 2018

Surgify has raised a 1MEUR seed round

Brickshare has raised 10MDKK  from Pre-Seed Capital

Actee has raised 4.5MDKK

CHAOS Architects closes a 290,000 euro round

Tiimo raised 2MDKK

Traede has raised an additional 2MDKK from Angels

Motosumo secures investment from Promentum Equity and US-based Vedere Ventures

Other Tales Interactive has received funding from Coffee Stain Studio


Polka Dot Studios raised $650,000

PressDoor raises 275,000 euros


Oculis raises $20.3m Series B round to advance treatment for Ophthalmic Diseases

Medical fish skin company Kerecis closes $3m convertible note

Solid Clouds raises $2.5m from Kjölur fjárfestingarfélag


Arundo Analytics has raised $25 million

Swarm64 raises $12.5M in Series B Financing

Aprila Bank raised a significant amount of capital to get it off the ground

Aquabyte has raised $3.5M applying ML to fish farming

AI startup Intelecy has raised 10MNOK

Edtech startup TERP has raised 5MNOK

Nabobil picks up 3MNOK more from existing investors

TicketCo raised 2.5MNOK

Vibbio has raised investment from Orkla Ventures


Fashion e-commerce firm NA-KD raises $45 million in Series B round

BehavioSec raises $17.5M Series B investment led by Trident Capital Cybersecurity to accelerate global expansion

Lendify raises a further 112MSEK

Hero Gaming has raised 50MSEK and is planning an IPO

Orbital Systems has raised a further 30MSEK

FinTech startup Findity has raised 25MSEK

MatSmart adds another 25MSEK to their recent round and a strategic investor in Ikea

Lavendla adds Eequity and Bonnier Ventures as shareholders with a 23MSEK investment 

Smartster raises 20MSEK, aims to list on the stock exchange

Match2One raised 11MSEK

Flow Neuroscience raises $1.1 million for its headset to treat depression

Modcam raised a further 10MSEK

Danads has taken in a further 8MSEK

Workaround has raised 7MSEK

EdTech startup Strawbees has raised 6MSEK

Avionero raises an additional 5MSEK

C-Green raises SEK 5M to further expand an industrial energy waste business solution

Heartpace gets SEK 4M and a new investor, Söderberg & Partners

Ztable has raised 3MSEK

Ivbar has raised 3MSEK more

Int3 raised 1.1MSEK from Chalmers Ventures and Almi Invest

Habity secures funding from WellStreet and angels

Nordic Etail invests in Textilgallerian




NPInvestor listed on the First North exchange


Rendra, a 3D software developer, is to be acquired by Canadian JDM Technology Group


Wireless earbud startup Earin bought by’s tech company

United Screens gets acquired by German media group RTL for 120MSEK

ST snaps up Atollic for $7M

OptiWay has been acquired by Visma

Image & Form International and Zoink have merged to form Thunderful

TenderEasy was acquired by Alpega Group

Goat simulator maker Gone North acquired by Coffee Stain


Top Stories

Spotify has reportedly filed for its IPO in secret

DI Digital report that Spotify acquired Soundtrap for 51 million euros

Luminar Ventures announces €50 million fund to back early stage startups

The Swedish Growth Agency (Tillväxtverket) announced the Swedish Venture Initiative, a fund of funds pumping money in local VC companies

Spintop Ventures secures more money into its investment fund, adds two more partners in the company

Hyped birth control app Natural Cycles has been reported to the authorities – after 37 unwanted pregnancies

Kahoot! has reached a new landmark of 70 million unique monthly users

Capital A Partners announces a $60M fund focused on early stage companies from the Nordics

eQ PE X North announced EUR 83M available to fund unlisted small and mid-market growth companies in Northern Europe

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