Investments, exits and top stories for Nordic startups from March

Not only did March bring 50+ investments, it also brought us some rather large rounds, closing Q1 in style. The exit scene also suddenly sprung into life, with 14 exits taking place last month, including one deal which gave us the latest Nordic unicorn in Denmark’s Sitecore, meaning that March not only gave us a $1 billion funding round in Spotify but also a $1 billion+ exit!


Spotify raises $1 billion in convertible debt

Finland’s M-Files raises $37.25 million

Finnish Financial search engine AlphaSense raises $33 million

Reports that Tradeshift have raised $20 million of a planned $65 million round

Danish Workforce management platform Planday raises $14 million Series B round

Norwegian Medtech startup Conceptomed raises $11.9 million

Finland’s New Icon has received an €8 million loan from the European Investment Bank

Swedish Crowdsourced mapping platform Mapillary raises $8 million in Series A funding

Norway’s Novelda raise a further $4.75 million from Alliance, Investinor and Verdane

Finland’s Edtech startup CLANED raises $4.55 million pre-launch

Sweden’s Health and Wellness startup Coala Life raised $3.6 million

Icelandic Kaptio raises $2.6 million from Capital A and Frumtak 2

Swedish Limes Audio receives $2.4 million to provide better sound to the world

Swedish Billhop raise $2.15 million 

Norwegian Seram Coatings has raised $2.1 million

Sweden’s Web TV startup The Flow Networks raised $1.81 million

Swedish Billionaire Lars Allstädt invests $1.75 million into Norwegian Neptune Software

Finnish IoT Startup Wirepas raises an additional $1.69 million

Sweden’s Tipser, transforming media sites to web shops, has raised $1.45 million

Swedish Payments startup Onslip have raised $1.3 million 

Swedish Logistics startup Budbee raises $1.24 million

Swedish WeWork competitor Convendum raised $1.22 million 

Sweden’s Bidnord raised $1.22 million

Swedish Sportswik raises $1.2 million from TV Network TV4 Group

Sweden’s Fina Zero, targeting the Brazilian market, has raised $1.2 million from Vostok

Swedish Pinmeto has raised a further $1.2 million from existing investors

Danish Cleantech startup Fluidan raised $1 million

Denmark’s Reform have closed a $1 million seed round

Finland’s Kopla Games raises €700,000 for mobile role-playing games

Denmark’s Airtame raise a further $671,000 and have Google and Apple in their sights

Swedish Greenely raised $612,000

Swedish Salesbox received €540,000 investment

Danish Inexso raise $532,000 from Borean Innovation

Sweden’s Allone raises $395,000 and has its sights set on India

Sweden’s BuildSafe raise a $370,000 seed round from Moor and Almi Invest

Nordnet’s founder invests $368,000 in Swedish real estate startup Qasa

Finnish Blooming measures your heart and brain to reduce stress at work and raises $330,000

Swedish agritech startup Agrilogik raised $306,000

Sweden’s Bidrik takes in €267,000 in capital to help companies make bids more attractive

Swedish e-health startup Magnea has raised $231,000

Finnish Trip Republic raises $228,000

Swedish Company tracker app Vembi raised $86,000

Klappir invests undisclosed amount in Icelandic Datadrive

Danish On Robot gets an angel investment

Finnish Ezyinsights raises an undisclosed funding round

Swedish Playpilot raise an undisclosed amount from Magine’s Founder

Sweden’s LumenRadio has been invested in by Latour Industries

Swedish Sentina Bay takes in capital 

Nicolas Hassbjer, founder of HMS Networks, backs Sweden’s EasyServ

Swedish Stunlock Studios have received investment from Coffee Stain Studios

Sweden’s Fanzone has raised angel investment

Swedish Incell International has raised investment from investment company Vargas

Swedish Private savings startup Pensionera raises an angel investment



Sitecore gains ‘Eunicorn’ status as EQT buys majority stake at €1 billion valuation

Finnish FinTech startup Holvi was acquired by Spanish banking giant BBVA

Finland’s Segway was acquired by Chinese firm O-film Technology

Norwegian PowerTech was acquired by Broadnet

X5 Music Group acquired Soundrop for €750,000

Bonnier buys majority stake in real estate startup Hittahem

Norwegian Robotics company Mektron has been acquired by Hepro

Dagens Næringsliv acquires 50% of Norway’s Startupmatcher

Leovegas went public and shares instantly went 30-40% up, market cap around $500 million

Doeer acquired design agency Agigen

H&M’s CEO and Nicklas Storåkers buy Sweden’s Pricerunner for $120 million

Swedish Smartclip was acquired for $52 million

Sweden’s WeHunt acquires their competitor

Okmetic receives takeover offer from China’s National Silicon

Top Stories

Game engine maker Unity Technologies reportedly raising money at $1.5B valuation

Eyrir Sprotar has closed its fund on $27 million

Supercell reaches 100 million daily active users

Castle is the third Malmö-based company to get a place in Y Combinator

Swedish Government set up $100 million fund to assist early stage Swedish startups

Creandum and Northzone make a Series A investment together in Berlin

Will Helsinki build the biggest Nordic startup hub?

Spotify hits 30 million subscribers

Jay Z unleashes ‘giant lawsuit’ against former Tidal owners

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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