Investments, exits and top stories for Nordic startups in November

As the Nordic scene geared up for Slush, funding announcements were flying out of the blocks, with November becoming a new record month for the number of investments in the region.

Catch up on all of those, as well as the exits and top stories in our monthly wrap up for November.


Swedish graph-database company Neo Technology raised a further $35.9 million

Norwegian The Future Group raises $20 million for its mixed reality platform and game show

Swedish Freespee secures a €9.25M Series B to help companies manage conversations with customers

Swedish Zenterio, which has created an operating system for digital TV boxes, has raised €8.6 million

Finnish MultiTaction raises €7 million for big data visualisation solutions

Finnish e-commerce loyalty service Bonusway announced a 6.9 million euros financing package

Finnish messaging app Jongla has raised an additional 5 million euros for its global expansion

Swedish Now Interact, a B2C predictive intelligence solution, has raised $5 million in a Series A round

Norwegian Statkraft Ventures and ETF Partners invest $5 million in smart meter software leader Greenbird

Finnish Vaadin, a developer of open source web application development tools, raised €5 million

Finnish Healthtech startup Oura Ring gets €5 million

Finnish Sympa, the fastest-growing HR solution provider in the Nordic region had Alfven and Didrikson investing 4.4 million euros

Helsinki-based cloud computing company UpCloud has raised 4 million euros

Finnish M&A software firm Midaxo has raised 3.6 million euros investment from Finnish Industry Investment, EOC Capital, and others

Swedish Matsmart has taken in another 36MSEK, just 11 months after raising 30MSEK to help them on their mission to reduce food waste

Swedish IoT company H & D Wireless raised SEK 25 million

Finnish BioMensio raises €2.5 million in funding for its bio-screening sensor

One of Denmark’s richest families is injecting money (21MDKK) into Aarhus’s Sekoia that has developed an IT platform for nursing homes

Swedish Incell who develop specific online lithium batteries sold to the telecommunications industry has raised a further 20MSEK

Swedish Zynapp that pulls together your whole digital footprint to make easier for you to find past communications has raised 20MSEK so far

Swedish Keyflow has taken in a 20MSEK convertible note from its existing investors

Swedish Wint, a SaaS accounting solution has raised 20MSEK

Swedish Gaming studio Isbit has received investment of 19.3MSEK, Back to Black now invest

Swedish YC Alumni Castle raised 18MSEK led by First Round Capital

Finnish digital health startup Noona Healthcare has raised €1.5 million in a seed round led by Inventure

Swedish Ecommerce site Caliroots has acquired German competitor Soto, and raised 15MSEK more from existing investors for further expansion

Swedish ComPodium raises SEK 15 million from Norrland Fund,  Centre Court and Cygate’s former CEO Bengt Lundgren

Denmark’s UNSILO, an AI startup focused on advanced text analysis has taken in 15MDKK investment from Indian IT giant Infosys

Swedish Mobile-video startup Bambuser has raised a further 14MSEK, including from Avicii

Swedish Invoicing startup Billogram has taken in a further 13MSEK, described as an “opportunistic fundraise”

Robo-advisor for pensions, Pensionera has taken in a 12MSEK investment from Optimizer Invest

H&M has pumped a further 10MSEK into Swedish second-hand marketplace app Sellpy

Swedish recycling app Tipptapp has raised 10MSEK from a group of investors that include the Avito founders

Swedish wearables startup Tinitell has taken in a further 8.5MSEK for its smart-watch for children

Norwegian Eventum, a marketplace allowing you to book corporate spaces and meeting rooms has raised 8MNOK

Finnish Deal flow management tool developer Zapflow raised $700,000 to accelerate growth

Swedish Auction startup Auctionet has raised 7MSEK at a 100MSEK valuation

Swedish Paydrive raised 6MSEK from NFT Ventures

Swedish planning app Simpliday has taken in a further 5.5MSEK

Swedish Attach has raised 5.3MSEK from MOOR and Recapex for their analytics tool for documents attached to emails

Swedish Mitigram has raised 5MSEK for their B2B FinTech solution

Swedish Last Grab has raised 5MSEK for their last-minute restaurant booking app

Swedish AR startup Bublar has raised 5MSEK for their location-based mixed reality mobile game

Swedish Tech Buddy has raised 5MSEK from business angel Stefan Tengvall for their “Uber for technical support”

Bavaria invests 5MNOK in Norwegian Nabobil

Finnish digital health startup Klinik raised 500,000 euros seed funding

Swedish AI health startup Lytics has taken in 4.7MSEK

Danish has taken in 4MDKK for its web shop selling socks

Swedish food startup Phoodster has raised 4MSEK

Swedish mindfulness app Shim has taken in 3.8MSEK from an impressive roster of investors

Gaming startup Happy L-Lord from Sweden has topped up its coffers with 3.3MSEK

Swedish Fidesmo has taken in 3MSEK from its existing investors and Erik Hallberg

Swedish E-commerce startup Reclaimit has taken in 3MSEK

Finnish luxury villa rental company Villada raised 448,000 euros

Finnish Edtech startup Mightifier has raised $250,000 from xEdu, a Nordic Edtech accelerator and others

Swedish construction startup Byggvarulistan has raised 2.4MSEK from two new angels and existing investors

Swedish Hoodin, a content startup has raised 2.4MSEK from Queen Invest

Swedish Bookatreat raised 2MSEK

Swedish Inkbay raised 2MSEK

Norwegian Vio has taken in 2MNOK from the Angel Challenge network

Swedish networking app SEVN has raised 2MSEK from Well Street

Swedish MyNews has taken in 1.2MSEK from Helsingborg company Preventic Group

Swedish Smart home startup Animus Home has raised 1MSEK from business angel Gustav Olsson

Swedish Kompis Sverige has raised 1MSEK

Collector has invested in Swedish Mr Shoebox (and Matspar)

Swedish Foodtruster, a “TripAdvisor for food” raised 0.5MSEK

Danish gives up 16% of equity for $120,000 from business angel Magnus Kjølle

Finnish Qvantal received investment from Russian firm LetterOne

Swedish Karma has so far raised a couple of million SEK from DHS Venture Partners

Danish Subscription solution Subhub has raised investment from Spar Nord

Swedish-Danish company Acarix receives double-digit SEK million investment from Chinese strategic investor Puhua Jingxin

Danish Kitchen4Kids has taken in 230,000DKK

Danish has received an undisclosed amount for their on-demand cleaners service

Zenith has increased their stake in Swedish Zound Industries

In Finland, Courage Ventures has invested in The Mighty United and Wellness Foundry

In Sweden, NFT Ventures and Bonnier News have invested in Dorunner, one of the largest marketplaces in service transactions online

Swedish Mimove, an accomodation site targeted at Swedes and Brits looking to buy property in Spain has raised a seed round

Norwegian Mitrol Energy won Angel Challenge Trondheim and subsequent investment

Finnish has raised an undisclosed seed round for further development of its online reputation measurement tool

Danish Trendday, an e-commerce fashion site aimed at young women has received an undisclosed investment

Swedish Storegate have investment from Aggregate Media to fight Google and Dropbox over cloud storage

Danish FinTech startup Leneo has got investment from Seed Capital and the ex-CEO of Nordea Thorleif Krarup

Nordic Makers have made four investments so far, into Minut, peergrade, Corti Labs and App Action

Danish Medtech company MagCath has received capital from Seed Capital

BTO puts 3.5MNOK in 4 Norwegian companies, with the 3,5MNOK matched by private investment

Acquisitions and Exits

CapMan to acquire Finnish investor Norvestia in €118m deal

Swedish Cellink went public with a market cap around 150MSEK

Finnish Avaus Marketing Innovations agreed to buy Swedish analytics and data consultancy firm Actionbase

Finnish cyber security firm Nixu has acquired Swedish computer security consulting company Safeside Solutions AB for 1.75 million euros

Norwegian Prox Dynamics has been acquired for $132 million

Telia has acquired Norwegian Phonero for 253 million euros

Finland’s SportSetter has been acquired and rebranded to Polku

In Sweden, social media monitoring platform Notified acquires its competitor, Twintip

In Sweden, Storytel acquires 50% of children’s book club Barnens Bokklubb for 0.55MSEK

Finnish Enfo has acquired Swedish e-man

McKinsey acquires Swedish design company VeryDay

Swedish e-commerce company Addnature has been acquired

Offerta takes over the online real estate brokerage Mäklarhemmet

Denmark’s CFH Group has been acquired by Playtech for up to $120 million

Danish was acquired by GE Digital

In Denmark, IT entrepreneur Martin Thorborg has sold his accounting business Dinero to Visma Group

Miinto, a Danish online fashion retailer, has been acquired by Dane Anders Holch Povlsen, the sole owner of competing Bestseller for a “double-digit million-euro sum

THQ Nordic valuation grows to €190 million after IPO on Nasdaq First North

Top Stories

Prominent Norwegian entrepreneurs have grouped together to put pressure on the Government for more entrepreneur-friendly conditions

Spotify acquires US customer service and retention software company Preact

Former employees have stepped in at the last minute at Narrative to buy the assets and keep the company alive.

Hyperloop One has (Editor: nearlysigned a letter of intent with the Finnish government with plans to connect Helsinki and Stockholm

Sweden set to take another look at work permit rules

AR company XM Reality has set its sights on going public rather than attempting to attract private equity in 2017

DI Digital are reporting that Linas could be weighing up an IPO within the next few months

Eve V is breaking $1million within days on Indiegogo, with an initial target of $75,000

Novasol to buy Rocket Internet-backed Wimdu just weeks after 9Flats merger

Klarna has agreed to take on the team behind the insolvent Berlin fintech startup Cookies

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— Nathan Benaich, Playfair Capital

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