Investments, Exits and Top Stories for Nordic Startups in May

With summer just around the corner we wrap up the investments, exits and top stories from May. Traditionally a busy month, this year was no exception, catch up on all the action here.




Danish-founded game engine maker Unity raises $400 million in private equity from Silver Lake

FinTech startup Lunar Way announced a further €4.7 million in investment, making the total for this round €8.7 million

Mobaro has raised 20MDKK

Aarhus-based Sleeknote has taken in 7.5MDKK

Kubo Robots  raised nearly $1 million from The Danish Growth Fund

Traede raised 3.5MDKK from Seed Capital

eSports startup GameScoreKeeper has raised 3MDKK

UrbanWineBox has raised 1MDKK

Omnio wins 0.5MDKK investment at SEED Discovery Day

Goodiebox has raised investment from Morten Strunge

Copenhagen Optimisation has raised from Vaekstfonden and 3 private investors


Genomic data management solutions company BC Platforms raised 9MEUR

Opti Automation landed a 4MEUR investment including from Taaleri Kiertotalous and Butterfly Ventures

Enersize raised SEK 28M before listing its shares at Nasdaq Stockholm First North

Freska has raised a further 2MEUR

Yepzon has raised 1.5 million euros

Motorius Entertainment has raised a further 500,000 euros

Mightifier won the Arctic15 pitching competition taking home FiBAN syndicate of €50k

Ex-Rovio and Digital Chocolate staff score pre-seed funding round for new Finnish mobile studio Polka Dot

ResQ Club acquires competitor, attracts funding from German investors and appoints a new CEO

Surgify has raised investment from Wave Ventures

Cleantech company Altum has raised seed investment from Lifeline and Tekes


Takumi, the influencer marketing platform raised a $4 million Series A 

Mink Campers raise a $450,000 seed round


Documaster has raised 100MNOK from Summa Equity

FinTech startup TicketCo raised 13MNOK

FinTech startup Payr has raised 3.2MNOK

Creative Makerspace in Stavanger has raised 2MNOK

Picterus took home 1MNOK in investment from Angel Challenge

Robot Aviation has raised a “double-digit” MNOK amount


Snow Software announced a $120 Million strategic investment

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

Lendify has taken in 200MSEK from institutional investors

Frontier raised 190MSEK at the end of last year, now announced

Eneo Solutions raises 100MSEK from Infranode Readly is back on its feet and raises 13.3MEUR

Pagero raised €10 million from the Norwegian private equity company Total

Ivbar has raised €5 million to improve health care outcomes

Oden Technologies has raised $3.5 million more

e-commerce startup Fyndiq raises 31MSEK

Podcast startup Acast brings in 30MSEK

AI startup Peltarion has raised 30MSEK from EQT Ventures

PE Accounting has raised a further 23MSEK

Codeta raised 22MSEK

Urb-It has taken in a further 18MSEK

Real Estate startup Tech Farm raised 15MSEK

Adaptive Simulation raises SEK 15MSEK to develop its fully automated and cloud-based simulation service

DNA Analytics company Dynamic Code has raised 10MSEK

Dib Hotel has raised 10MSEK

Wrebit has taken in a further 10MSEK to accelerate growth

Tipser has raised 10MSEK

TRS Travel Right merges with Fö and raises just under 10MSEK

Pen Store raised 10MSEK from Aggregate Media

Medicoo raised 9MSEK

Buyersclub has raised 7.5MSEK

Ellwee raised 7.3MSEK for their electric quads

Bokoredo raised 6MSEK

Swedish Algae Factory raised 6MSEK

Handiscover raised a further 6MSEK

VR Adtech startup Advrty raised 5MSEK

Commuter Computer raised 5MSEK

Yacht-sharing app Agapi Club raised 5MSEK

Health startup MediCheck raised 4.7MSEK

Showify has raised 4.5MSEK

FinTech startup Zaver has raised 3.5MSEK more 

MedFilm raised 3.2MSEK to supply hospitals with surgical films

AI Adtech startup Zalster has invested 3MSEK

Food waste startup Deli Gate has taken in 0.8MSEK

Mina Tjänster has also taken in an investment of 0.35MSEK from PTS

Bioservo has taken in investment just before they go public

Mr.Shoebox has raised further investment 

RealSource expands and takes in new capital

Appspotr receive investment from Hong-Kong based Novel Unicorn

Marginalen Banks has bought 30% of Toborrow




North-East Venture has acquired Bownty, Europe’s largest aggregator of deals and experiences


Sleep monitor Beddit acquired by Apple

Remedy Games went public


Lucidworks acquired Icelander-founded Twigkit


Huddlestock has acquired the intellectual property of Islero, an investment analysis platform


Boozt went public with a 3.5BSEK ($400M+) market cap

Qliro sell its shopping club to rival Campadre

TÜV SÜD acquires MiW Rail Technology

Notified acquired Lissly for 5MSEK

Bambuser went public but had an unspectacular start

Swedbank has acquired Payex

Frankly and HOWL merged to form the new Scandinavian innovation agency Above

Tata Technologies acquires Swedish engineering and design firm Escenda Engineering

Bambora have acquired Devcode

Dapresy has been acquired by Verdane Capital

Hexagon has acquired Vires

Tobii has acquired their former spin-off Sticky

Volati acquires Akademibokhandeln

Lund-based company Terranet went public on First North

Icomera has been acquired

Axfood acquired grocery company Middagsfrid


Top Stories

European Investment Fund chooses Finland as the next destination for its European Angel Fund co-investment program

Schibsted is under serious scrutiny in regards to their actions in the Norwegian ecosystem

European Investment Bank (EIB) has granted 25MEUR to open source database company MariaDB

Norwegian.AI is a new $1BNOK fund

The co-founders of Kahoot! have left day-to-day operations

Boozt plans listing on Stockholm stock exchange

Infare acquires QL2 Software’s airline business to become a global player in airfare data & analytics

The Swedish Court has decided to deport Tayyab Shabbab

Supercell acquires 62% of Space Ape Games for $55.8 million

Remarkable has seen Europe’s best ever pre-order performance from a hardware startup with $11.8 million in sales in six months

iZettle are gearing up for an IPO

The billionaire founders of Klarna and Daniel Wellington announced a new ‘first of its kind’ tech fund for social impact startups

IKEA launches accelerator for start-ups creating solutions to everyday problems

Denmark appoints new “Tech Ambassador” to lead tech diplomacy

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