Investments, Exits and Top Stories for Nordic Startups in February

Although it may be the shortest month of the year, there was certainly no shortage of action, with plenty for us to catch up on in our curation of February’s investments, exits and top stories from the Nordic startup scene.




Northcap, Edison Ventures, Chicago Ventures and Mission OG invests 150 MDKK in GAN Integrity

FinTech startup Pleo has raised a further $3.25 million

Relink has raised a $1 million seed round

IoT startup ERNIT has raised $700,000

YourLocal has raised 3MDKK

Drop Local has raised investment and has its sights set on London

FinTech startup Zenegy has raised from E-conomic’s founder


Faurecia Ventures pumps fresh capital into TaktoTek, total funding crosses $20 million mark

Mobile gaming startup Armada Interactive raises $10 million ($7 million now)

LullaMe raises almost 300,000EUR

FinTech startup Enterpay has raised funding from NFT Ventures

Mika Ihamuotila invests in Invesdor

Wave Venture’s first investment is in Blok


Xeneta raises $12M Series B to crack open ocean freight pricing

Domos has raised 7MNOK

Outtt has raised 4MNOK

Superplus has raised 3MNOK

Energy startup Tibber has raised 3MNOK has raised 2MNOK, with 1MNOK from FFV

Martin Hauge has invested in Vibbio

Spiff takes on some more angel investors


24 Storage has taken in another 250MSEK

Soundtrack Your Brand has raised $22 million

Gaming Corps secures 91MSEK ahead of acquisitions

Widespace takes in a 33MSEK convertible note

Modus Therapeutics raises 32MSEK to support further development of sevuparin for sickle cell disease

Urb-it has taken in a 30MSEK convertible loan

Health startup Doctrin takes in a further 23MSEK

Lund-based TerraNet has taken in just over 20MSEK

Coala Life has taken in a further 20MSEK

Music startup Auddly takes in €2 million

Touchize has raised 15MSEK

Kaching raises 15MSEK from Creades

Unibap takes in 12MSEK

ZeroPoint Technologies raise 11.5MSEK

Challengermode has raised 11.5MSEK including from Zlatan

D Laboratory gets 10MSEK from Almi Invest and business angel Gunnar Bergsted

Enterprise SaaS startup IAMIP raises 10MSEK

Adtech startup Albacross, raises 8MSEK from a group of angel investors

Sigma Stocks has raised 8MSEK

Cloud automation startup Elastisys raises 6.1MSEK

VR gaming company Logtown Studios has raised 6MSEK

Speed Ventures has invested 5MSEK in events startup Invajo

Zwapgrid secures 4MSEK in new financing

VR startup Friendbase has raised 4MSEK

Active Brands Group has raised 3.8MSEK

Debate platform Ifrågasätt has raised between 1-5MSEK

Mina Tjanster has a new investor for a seed round to be closed in summer

Sciety, an equity crowdfunding startup from Sweden, adds new investor and board member

Nordkap has raised investment from Collector




Lemonsqueeze has been sold to a US company

Momondo Group was acquired by The Priceline Group for $550 million in cash

Menucard went public, with mixed results

TARGIT was sold to GRO Capital

Sweden’s Mr Green acquires Danish online gaming company Dansk Underholdning


Nokia to buy Comptel for $370M as it pushes deeper into carrier software

Also Holding acquires Finnish distributor Internet Smartsec

Sweco is acquiring the business of Karves Yhtiöt


Safe Solutions was acquired by Pamica

Lundalogik acquires RemoteX Technologies

Storytel acquires audiobook publisher Kontentan

Telia buys public transit startup FältCom

Twilio acquires messaging provider Beepsend to boost its SMS delivery network

Adlibris Group has acquired online store Roliga Prylar

Samsung acquired smart earphone startup Melaud

British ARM buys IoT company Mistbase, price undisclosed

VR company Hoylus went public

Nordic private equity newcomer Summa Equity has acquired a majority stake in digital education services provider Lin Education

Lund-based Cloudcom was acquired by OMMH Scandinavia


Top Stories is a new fund that wants to help Finland’s “pre-founders” make the switch to startup life

Klarna to acquire German payments company BillPay for reported £60 million

Europe’s largest student-run VC fund launched in Helsinki

Atomico closes its fourth fund at $765 million

Spotify snubs Stockholm by adding 1,000 employees in new US headquarters

Key Spotify employees are facing expulsion from Sweden

Startup media Trendsonline is closing down

Standout Capital are near to closing a $110 million fund

#NordicMade gets real: Nordics’ main startup organisations join forces to boost region’s tech success

Next Games is planning a Helsinki IPO

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