Investments, exits and top stories for Nordic startups from January

New year, new record, same old story, as investments reached a high for the second month in a row despite those months being December and January, a part of the year when things are typically quieter.

To put this month’s 48 investments into perspective, in January 2015 we tracked 12 investments, a 300% increase. Of course, naturally our and the regions news sources have improved in that time, so we have to take that into account, but even with that adjustment, it’s comfortably another huge record month for investments in Nordic startups, and one that shows no sign of abating.

48 investments may appear to be a hard-to-believe amount, but incredibly this is actually slower than the growth rate that 2015 saw from 2014, as if 2016 followed the same rate then it would see 600+ investments this year, meaning months of 50+ investments would be a regular occurrence if that rate is to be maintained.

So, although on first appearances this may seem like a peak, it may in fact just be the baseline for what could prove to be another stellar year for investment into Nordic startups.


Danish Wine community startup Vivino raises $25 million from Moët Hennessy’s CEO and others

Denmark’s IO Biotech raises €11 million in a Series A financing round

Finland’s Next Games raises $10 million from existing investors

Sweden’s Sprinklebit raises $10 million from GTC and sets its sights on IPO

Finnish Database provider MariaDB raises $9 million and appoints new CEO and CTO

Glu announces $7.5 million investment in Plain Vanilla (QuizUp), may lead to a full acquisition

Finland’s Vaadin raises $6 million for open source development

Nordea invest in Swedish Wrapp to complete a $4.65 million round

Sweden’s 24 Storage has raised $4.5 million to bring high-tech to the storage industry

Peakon raises €4 million to bring ‘people analytics’ to employee engagement and retention

Finnish Fluido, a Finnish cloud services company, has raised €3.3 million from Norvestia Growth Equity & Salesforce Ventures

Swedish KnCMiner take in another $3 million from existing investors 

Sepior receive an investment of $2.63 million from an EU fund for SME’s

Controlant receives $2.47 million funding

Danish Mofibo raise €2.2 million from Seed Capital and the Danish Growth Fund

Swedish Gaming studio Hero Gaming raised €2 million

Norwegian The Moon have raised 20MNOK so far for their VR shopping centre

Swedish Fintech startup Collective raise $1.5 million from Dan Olofsson

Swedish Medtech startup MedUniverse raise $1.3 million from 20 North Street

Swedish IoT startup Plejd raised €1.2 million

Norway’s Ardoq and their documentation platform raises 11MNOK ($1.24 million)

Swedish Communication app Roger raises $1 million

H&M invested €880,000 in Sweden-based startup Sellpy

Swedish Gaming startup Battleriff picked up €860,000 in funding

Norwegian car-sharing service Nabobil have raised a $575,000 seed round

Aggregate Media invests €500,000 in Sweden’s FörmedlarBil, a marketplace between car owners and dealers

Swedish Anti-anxiety app Remente has raised $500,000 and looking to raise $1.2 million more

Swedish Biotech focused Dynamic Code raised $400,000

Sweden’s Toborrow receive $350,000 bridge financing from NFT Ventures

Sweden’s RaceOne has raised $290,000 including from the CEO of Fishbrain

Swedish Vinnova invests $260,000 in fintech startup Primepilotbird

Norway’s Hubro receive an angel investment of $230,000

Swedish Minatjanster picked up €215,000 in funding

Danish Monsenso an e-health startup will receive around €211,000 from the Innovation Fund for their work looking at personality disorders

Danish getQueried announced a $145,000 angel investment

Swedish Fintech startup Billecta raised €128,000 from business angels

Sweden’s News55 raises $115,000 from existing investors in addition to the previous $465,000

Denmark’s Gomore have secured a major investment from the man behind the Tiger concept, Lennart Lajboschitz. The investment is undisclosed, but is rumoured to be several million dollars.

Danish LED iBond has raised an undisclosed amount from existing investor Southern Institute of Technology and new investor VF Ventures

Aggregate Media invests in Swedish mobile carrier Fello

Swedish 2Bpublished raises angel money from the founder of Mynewsdesk

Sunstone and Tommy Ahlers make an eSports investment into a CounterStrike team

Evonik invests in SYNOSTE, a Finnish medtech start-up

Norwegian Din ERP receives equity investment from Viking Venture

Swedish Media startup Uppskattat raised funding

Sweden’s Drone League Racing received an undisclosed sum of capital from business angels

Tamedia has acquired a 25 percent minority interest in the Danish mobile flea market Tradono


Microsoft follows up with acquisition of MinecraftEdu

Furniture e-merchant Sleepo went public on the Stockholm Stock Exchange

Cint exits to Nordic Capital for $120 million

IK Investment Partners to acquire Norwegian TeleComputing

Distil Networks acquires Swedish security firm ScrapeSentry

Equity crowdfunding platform Pepins has merged with Alternitava, becomes Pepins Group

Customerwise was acquired by Swedish e-commerce startup Vaimo

Swedish Enzymatica buys 99.5% of Icelandic biotech company Zymetech

Norwegian Cenika was acquired by Swedish Lifco

Top Stories

Spotify is looking for $500 million in funding as it inches closer to an IPO, and appear to be ready to launch their video product

Jolla will not be delivering its tablet to all of its Kickstarter backers

With a record $3 million generated in December, Seriously reveals Best Fiends has hit $25 million in lifetime sales

500 Nordics reveal the companies joining the 1st batch of their pre-accelerator in Oslo

Lars Buch moves from Startupbootcamp to Leo Ventures as the formers future in Copenhagen is in doubt

MTV and NFT Ventures launch a new media for equity fund focusing on Finnish fintech startups

A Korean game developer is pumping $40 million into Starbreeze

Spotify acquires Irish Soundwave and U.S based Cord Project

Verdane Capital buys a portfolio of seven companies from Aggregate Media for approximately $6 million (Allinc, Consector, Ecoride, Funera, Schoolido, Stor & Liten, Smart Senior)

German Startups Group have invested in TicTail through secondary shares

Bonnier to invest €16 million in NFT Ventures Fund II

Goo Technologies’ valuation has decreased by 70 percent from $10 million down to $2.9 million

Graph database leader Neo Technology declares record 2015

French VC firm Ventech expands into the Nordics

Bonnier are to be Business Insider’s partners in the Nordics to bring the publication to the region

Venture Capital firm Atomico recruit Supercell founder as ‘Entrepreneur Partner’ and are reportedly raising a new $1 billion fund

Angry Birds creator Rovio spins off its education business to double down on media and games

King founders start their own investment fund for Swedish startups

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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