Investments, exits and top stories for Nordic startups in September

While larger later rounds remained fairly sparse in September, there was a flurry of activity in angel and pre-seed investments, meaning last month recorded the most investments in 2016.

You can find all of them below, as well as all the exits and top stories from September.


Finnish Canatu, a manufacturer of transparent conductive films and touch sensors raised €10 million in private equity

Norwegian EdTech startup Kahoot! raise $10 million as Microsoft come onboard

Swedish Accounting startup Dooer has raised $4.6 million

Inventure, ETF, Vito in €4.5m round for Wirepas

Swedish eSports startup Gumbler raises 45MSEK

Finnish Critical Force, a eSports startup raised €4 million

Norwegian Security startup Promon raised a $4 million round

Discovery has taken a minority stake in Swedish (36.4MSEK)

Swedish Red Flag has taken in 35.8MSEK to make entrepreneurship more fun

Swedish Biotech startup Prominic raise $3.2 million

Danish FinTech startup Pleo raise $3 million for their employee expenses solution

Finnish raises a $3million Series A

Peter Vesterbacka has taken up an Evangelist position at Finnish learning gaming studio Lightneer following a 2.8 million euro round

Danish Biotech startup Reapplix closed a new funding round of €2.7 million

Danish Athgene has raised €2.5 million so far for their subscription based DNA test

Swedish Terrnate has taken in 25MSEK, eyes set on an IPO next year

Swedish Gaming studio Funrock takes in a further $2.35 million

Danish GenieBelt raises €2 million for its construction industry project platform

Norwegian Solar energy startup Otovo has taken in 22.5MNOK

Swedish Swiss Clinic raised 20MSEK from Eequity

Norwegian Music app Oiid has taken in 20MNOK

Swedish DogBuddy raises 20MSEK

Swedish Data startup Leeroy takes in $1.75 million

Swedish Modcam have raised 15MSEK in a new investment round

Swedish Funera has raised 15MSEK, now 10th largest funeral provider in Sweden

Norwegian FinTech startup Huddlestock raises a $1.5 million seed round

Icelandic Influencer marketing platform Takumi announces $1.4m funding round

Swedish Crowd-lending startup Kameo has taken in $1.2 million earlier this year

Swedish AI health startup Aifloo raised 12MSEK

Swedish Vakanta raises 11MSEK, including 9MSEK from Aggregate Media

Swedish Briskeye take in 11MSEK to take on Nokia

Danish has announced a $1 million seed round for their recruitment analytics tool

Swedish Billogram have taken in 10MSEK

Swedish Beauty marketplace Glamma has raised 9MSEK from NFT Ventures

Swedish AI and IoT startup Imagimob has raised 8MSEK

Instabox take in $705,000 to make picking up your purchases easier

Swedish Green electricity company Bright takes in 6 million SEK

Swedish Garden Girl has taken in 6MSEK, including 2MSEK from Almi Invest

Swedish Metry, a smart electricity solution raises 6MSEK, sets sights on Germany

Swedish Smartster has taken in another 5MSEK

Swedish E-commerce startup Stellar Equipement takes in 5MSEK from Avito’s founders

Gothernburg based Suavoo has taken in 3MSEK from Well Street

Norwegian Hold has raised 2.5MNOK to help students improve their concentration and grades

Swedish Charity startup Addtruly has raised 2MSEK

Swedish VR startup Zeroparallax take in 2MSEK

Swedish Fashion app Left or Right takes in 1.8MSEK

Danish SpotterU a ‘Tinder for everyday jobs’ raises $150,000

Returnado has raised 1.5MSEK from Well Street and others

Danish Fashion/ecommerce startup The 2nd Edit raises 1MDKK

Swedish Sniph raise 0.65MSEK from angels

Swedish Colourpicture take in 0.4MSEK

Danish raises 200,000DKK for development of Robo investment advisors

Danish Casebase received investment from Capnova

Swedish Altered have raised Angel money, now looking to Kickstarter

Swedish Bannerflow get a new CEO and ‘several million’ SEK

Swedish Ocast has been backed by Morten Lund

Telia have taken equity in Swedish eBuilder

Swedish Wopify receive an Angel investment

Johan Kinnander, former CEO of Google Nordics has invested in Swedish SEO agency Topdog

‘The Mauler’ invests in Swedish Prey Studios

Swedish ReVibe Energy raises investment from Saab Ventures, Qamcom Technology, Almi Invest and Chalmers Ventures

Swedish CLVR Shopping get an angel investment from Pär Liljehammar

New investment vehicle Backing Minds has invested in Swedish Transfer Galaxy

Formula1 racing star Mika Salo joins and invests in Finnish supercar startup Toroidion

Danish Northholders, an investment platform, has raised an undisclosed amount

Danish Densou Trading Desk has raised money from Seed Capital

Danish Spiri unveils its first carpooling vehicle prototype, launching 2017, has raised ‘millions of euros’ so far

Finnish Primoceler raise an undisclosed amount

Norwegian Norsk Titanium announces investment from Applied Ventures

Zlatan Ibrahimovic has invested in Swedish gaming studio Isbit Games

Norwegian MovieMask have taken in an angel investment

Danish FinTech/Blockchain startup NewBanking gets an angel investment

Danish Legal Desk has received a ‘discovery loan’ from Seed Capital


Danish Nets go public at a valuation of $4.5 billion

Danish Optomaton has been acquired by Ve Interactive for 5.13 million euros

Swedish FinTech company Emric has been acquired

The Founder of Swedish Planeto has bought it back from Bonnier

French vente-privee have acquired a majority stake in Designers and Friends

Norwegian Visma BPO has been acquired by HgCapital

Norwegian Solid Group has been acquired by Steria

Discovery has taken a minority stake in (36.4MSEK)

News agency TT buys Swedish photo service Shootitlive

Bauer Media’s acquisition of Swedish Zmarta has completed

Swedish Besedo Global Services AB is merging with France’s ioSquare

Shortcut Media Group acquires 60% stake in Swedish Good Motion AB

Allgon AB acquires Swedish IoT company Wireless System Integration Sweden AB

Finnish Paulig acquires 51% of Finnish food startup Gold&Green Foods

Matkasse becomes majority stakeholder in Danish Retnemt

Finnish FuturSoft has been acquired by Swedish Vitec

Finnish Labyrintti snapped up by Norwegian Link

Swedish Diabetes startup Diasend merges with Silicon Valley competitor and raises $8.25 million

Swedish Sports Competence and iPlay merge

Finnish Tieto buys up bankrupt Norwegian company Oppad

Private equity firm Vaaka Partners has acquired a majority stake in Finnish food logistics business LTP Logistics

Gaming studio Frogmind has been acquired by Supercell

Swedish Gaming studio Three Gates has gone public

Swedish Ecommerce Adtech startup Lantbutiken has been acquired for $1.2 million

Swedish Pelagicore were acquired by American Luxoft

Top Stories

Northzone announced a new €300 million fund

This 130-year-old hospital in Helsinki was just transformed into the biggest startup hub in the Nordics

Spotify have reached 40 million paying subscribers

Volvo just officially started its self-driving experiment on the streets in Gothenburg

Norwegian StartupLab is launching their second fund

Some of the Nordics’ most experienced entrepreneurs start angel network, Nordic Makers

STING has raised their third fund with some impressive LP’s

Spotify lands in Japan, adds Netflix exec to board, gets close to buying SoundCloud, launches ‘Daily Mix’

Slush expands to a new vertical: Slush Music

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In fact, it’s through Neil Murray’s newsletter that I first heard about Mapillary. Several months later, I was fortunate to lead our firm’s investment in the Company to help drive the creation of a crowdsourced visual representation of our world”

— 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