Press release from Voima Ventures Voima Ventures is launching a science challenge for pre-seed and seed stage science-based startups in the Nordic and Baltic regions. The challenge aims to encourage and support startups in transforming their ideas into thriving, global businesses and help them scale solutions from laboratories to global companies. Velocity is particularly aimed…
Press release from Voima Ventures
Voima Ventures is launching a science challenge for pre-seed and seed stage science-based startups in the Nordic and Baltic regions. The challenge aims to encourage and support startups in transforming their ideas into thriving, global businesses and help them scale solutions from laboratories to global companies.
Velocity is particularly aimed at startup teams with university or research lab backgrounds working on innovations that accelerate global green transformation, cutting-edge life science and health technologies, or groundbreaking new technologies that are changing entire industries. You don’t have to have a perfect pitch deck or paying customers, but we want to see more than an idea on a napkin. We are looking for the best ideas with great potential and an impact on people, the planet, or the industry.
We are convinced of the fact that science-backed growth entrepreneurship is the only fast-enough way to solve pressing global issues, and thus we need more ways to accelerate science-based innovation. We want to challenge research teams to build scalable solutions for urgent issues and look forward to supporting the best ideas and teams and help them to scale.
The winner will receive a €1M convertible note and one year of mentorship from carefully selected mentors within the Voima Ventures network. The top 8 finalists will pitch their ideas at the final event in Stockholm, January 11th, 2024. A panel of experienced investors and industry experts will evaluate the startups based on their team, viability, innovation, market potential, and societal impact. There will be an online screening beforehand where you will meet team members from Voima Ventures and receive feedback.
We’re committed to developing and nurturing a world-class ecosystem in the Nordic and Baltic regions, unlocking their immense potential to emerge as a global epicentre for science-based deep technology. And we challenge you to be part of this.
Application Deadline: 28th of November 2023
Originally published on 13 September.
Antler partner Kristian Jul Røsjø says that the new fund demonstrates the firm’s continued commitment to supporting a new generation of founders in the Nordics. (Photo: Linkedin). Venture capital firm Antler announced yesterday, that it had launched its second Nordic fund, with a total target size of €150 million. According to…
Venture capital firm Antler announced yesterday, that it had launched its second Nordic fund, with a total target size of €150 million. According to the firm, €50 million had already been raised in the first closing.
The fund will back founders across the Scandinavian countries Sweden, Norway, Denmark, and Finland, with the firm set to open its new Helsinki office in 2024.
“Five years after Antler’s first investments in the Nordics, the launch of our second fund demonstrates our commitment to continue supporting a new generation of founders in the region,” Antler partner Kristian Jul Røsjø said in a press release.
According to the publication EU-Startups, Antler has made 102 investments in 2022 alone and has emerged as one of the most active early-stage venture capital firms in Europe. Its current European portfolio includes more than 300 startups across a wide range of sectors.
Among the companies backed by Antler are Two, Treyd, Evyon, Skyqraft, Circulate, and PerPlant.
In an interview with EU-Startups, Jul Røsjø said that the launch of the new fund showcased Antler’s unwavering commitment to the startup community in the Nordics.
“Five years after Antler’s first investments in the Nordics, the launch of our second fund demonstrates our commitment to continue supporting a new generation of founders in the region. The high number of investors from Fund I re-committing to our second Fund is testament to the potential of our investment strategy and the success of our portfolio companies,” said Jul Røsjø.
The firm’s Nordic portfolio now has a combined value of nearly half a billion dollars, with around 40% of the startups backed by Antler classified as ‘planet positive’. The new fund will continue this direction by investing in startups that are developing technologies aimed at having a positive societal or environmental impact.
In the Startup Greenland series we look at some of the startups that have been founded in Greenland in recent years. Every week, Björgúlfur Jes Einarsson profiles a Greenlandic startup that has caught our eye. Martin Nordlund is the founder and CEO of the multimedia startup Malou Media. At just 19…
In the Startup Greenland series we look at some of the startups that have been founded in Greenland in recent years. Every week, Björgúlfur Jes Einarsson profiles a Greenlandic startup that has caught our eye.
Malou Media is a multimedia agency based out of the Greenland capital Nuuk. They specialize in commercials and advertisement campaigns, but also provide services in animation, website design, graphic design and online marketing. The company uses Greenland’s unique landscape in their campaigns and in recent years they have worked with large international clients such as UNICEF, Google and Bayer.
The company was founded in November 2014 by Nuuk natives Martin Nordlund and his brother Mark. The idea for Malou Media came from a trip to the cinema, where Martin had an epiphany about the local advertising industry.
“I thought wow, those are some bad local commercials, we could do better. Later, I was watching the national television station and saw even worse commercials. So I thought to myself: ‘there is definitely a market here’,” explains the 28 year old Martin.
Martin, who was 19 years old at the time, reached out to his brother Mark who was living in Denmark and he moved back to Greenland to found the company. They named the agency in honor of their sister Malou, who later joined them as well.
“I was a rookie animator and my brother was a really good filmmaker so we combined those two, it gave us an edge in the industry,” says Martin. “Next year will be the 10 year anniversary of the company. It’s crazy that it has been so long, but it’s been a nice and wild journey.”
Their first big assignment was a campaign commissioned by the Greenlandic government aimed at helping kids and parents prepare for the first day of school. Martin says the campaign was a real “home run” and that it laid the foundation for what Malou Media is today. Following the successful campaign many other departments within the Greenlandic government started reaching out.
“We then had another home run and national campaigns became our specialty,” says Martin. “When you’re talking to a public client they want one contact to solve all their problems, that is what we have grown into.”
A majority of their clients are local companies, but they have worked with several foreign companies that want to utilize the picturesque Greenlandic scenery in their advertising campaigns.
“We helped Google with some assignments here in Greenland and we worked with the Bayer Group, which is a big Fortune 500 company from Germany, make a very inspiring campaign about sexual health that became very popular. We have also made a project for the Danish police, which will be shown in airports in Denmark.”
UNICEF and the Danish military also came calling, but as Martin explains their primary clients remain Greenlandic organizations and businesses. The numerous local and international projects have provided Malou Media with plenty of success in recent years.
“It’s been going pretty good in recent years. Three years ago we did around 8 million Danish kroner (USD 1.2 million) in revenue and then two years ago we did around 9.5 million (USD 1.4 million) and this year we are at around 7 million (USD 1 million),” says Martin.
That is not to say that the company hasn’t seen its share of setbacks. This year Malou Media lost two large clients, with one pulling out because of the war in Ukraine and the other going into bankruptcy. Those two accounted for 1.5 million Danish kroner in lost revenue.
“We don’t have so much recurring revenue, we are more based on campaigns, which makes it hard to forecast growth,” says Martin who claims that the company should realistically average about 7 to 9 million Danish kroner annually.
The company hasn’t received any external financing and for the first 8 months the siblings didn’t pay themselves wages with all their income going towards buying equipment.
Last year, Martin’s siblings moved on to do other things in Denmark, which caused a lot of changes in the team.
“It’s a new challenge for me as a leader to go from running a company with my siblings, to move away from a family culture to a business culture,” says Martin.
According to Martin, the startup scene in Greenland is very different from the one in Denmark, where Martin spends a lot of his time.
“I navigate a lot of the startup scene in Denmark, because I have a large network of Danish founders. There are many entrepreneurs here in Greenland, but it’s a different ballgame,” says Martin.
He claims that the growth mindset of scaling and seeking investment is lacking in the Greenlandic startup scene.
“I just don’t think that there is any culture for that here in Greenland, or a deep understanding of how to create that kind of a company,” says Martin.
Martin hopes that a more formalized startup scene emerges in Greenland in the future, but explains that companies starting out in the Arctic country face a unique set of challenges.
“Of course what you can do is limited. It’s a large country with a small population, only 55 thousand. A small community makes a small network, but also a larger impact. You can really move quickly here,” says Martin. “We did almost 2 million (USD 300,000) in revenue the first year just doing commercials and I usually don’t see that in many other places, not even among my network down in Denmark.”
However, Martin believes Greenland is a fantastic place for entrepreneurs that holds a lot of potential.
“It’s a great playground for startups,” he concludes.
Press release form Greencode Ventures Greencode Ventures, a venture capital firm focused on accelerating the green transition through investing in digital-first startups, is thrilled to announce the successful first close of the new fund and its first investment. We are grateful for the support and trust by our investors who have allowed us to embark…
Press release form Greencode Ventures
Greencode Ventures, a venture capital firm focused on accelerating the green transition through investing in digital-first startups, is thrilled to announce the successful first close of the new fund and its first investment.
We are grateful for the support and trust by our investors who have allowed us to embark on this transformative journey. During the past months we have raised nearly 40 MEUR, with the help of Business Finland Venture Capital, Nordea Life Assurance Finland, Pohjola Insurance, OP Life Assurance Company, Konstsamfundet Ventures, Kelonia, Stephen Industries, Atavus, Nidoco, Halton Ventures, Ikorni Invest, Tre Smeder, KJL Consulting and other experienced LPs.
We have now made our first investment in Supercritical, a cutting-edge marketplace for carbon removal. Supercritical’s mission aligns with our investment thesis to support innovative digital solutions that combat climate change and promote a sustainable future.
Moreover, we are honored to announce the distinguished members of our Greencode Advisory Board: Sari Baldauf, the chairwoman of Nokia, bringing invaluable insights and experience in the tech industries in our focus area, and Mika Anttonen, the majority owner of the energy company St1, who is a visionary entrepreneur using profits to finance projects that combat climate change and strive to replace oil. Their involvement further solidifies our commitment to making a lasting impact not only in the startup ecosystem but in critical industries more broadly.
Greencode Ventures is proud to be an active participant in the VC ecosystem, accelerating the green transition and supporting start-ups that are dedicated to making a positive impact. The Greencode team envisions “a future in which “Green” is the growth engine. Innovative companies are key in achieving this future, and Greencode aims to be a strong force enabling this change.”
We firmly believe that diversity drives innovation and progress, and we are determined to lead by example. As a female-led and founded VC, Greencode Ventures aims to address the underrepresentation of female founding teams in the VC landscape (only 1 % of all VC funding in Europe is raised by women-only founding teams).
Petri Serenius, the Investment Director of Business Finland Venture Capital: “We are delighted to provide our support for the launch of Greencode’s fund, which will invest in promising early-stage climate tech companies in Finland and Europe. We couldn’t think of a more relevant and impactful investment topic for a venture fund. Greencode boasts experienced personnel capable of creating substantial value for their portfolio companies.”
Press release by Greencode Ventures. Read more here.
About Greencode Ventures
Greencode Ventures is a pan-European VC firm specialising in green transition with rapidly scaling digital solutions that create impact within this decade. Greencode started in 2023 and is based in Finland, Germany and Sweden. The founding partners are industrial transformist Kaisa Hietala and green energy venture capitalists Terhi Vapola and Ines Bergmann-Nolting. The founding team also consists of two entrepreneurs in the digital impact space Manuel Heckmann and Karin Henriksson, and has been strengthened by the green transition professionals Patrik Fjällberg and Oskari Ojavuo.
Contact:
Karin Henriksson, [email protected]
Originally published on 29 August.
Press release from SCIC SCIC aims to connect the solution-makers to cities’ challenges, especially the ones investing to solve the challenges. To make it efficient, SCIC has created Focus and Areal Groups. The Groups combine the solvers interested in certain markets, concerning expertise or geographical area. SCIC is forming focus groups for Built Environment, Digitalization…
Press release from SCIC
SCIC is forming focus groups for Built Environment, Digitalization and Connectivity, Energy and Urban mobility.
At the moment, The Areal Groups aim to accelerate exports to Los Angeles, the USA, and Madrid, Spain. Later this year, Groups for Nusantara, Indonesia, and Fukuoka, Japan. Read more about the existing Areal opportunities below.
Los Angeles New Green Deal and Madrid Nuevo Norte are potential for long-term collaboration and continuous source of challenges. To generate suitable challenges directly for interested members, SCIC establishes Areal Groups to gather the ones aiming for the markets of the U.S.A and Spain.
The Los Angeles New Green Deal is an ongoing program until 2045, with a yearly budget of $2-8 billion. The focus for Finnish operators is in mobility and transit, renewable energy, and the built environment.
Madrid has been acknowledged as one of the most prominent areas of urban development in Europe. The most notable project of Madrid is Nuevo Norte, with the purpose to regenerate the northern area of the city with a total budget of €25 billion. The focus is in mobility, waste management and building materials, to mention a few.
SCIC has assigned an official partnership agreement with Madrid World Capital Cluster (MWCC), the organizing association of Nuevo Norte, to enable Finnish – Spanish cooperation. MWCC is mapping the Spanish companies and organizations in order to match them with SCIC members.
Big things are done together. That’s why Focus Groups bring the experts of each field together, to enter new markets and create change-making products. During the fall, Focus Groups in Built Environment, Digitalization and connectivity, Mobility & Transportation and Energy are launching.
Built Environment covers for example smart buildings, urban infrastructure and carbon-neutral construction. The demand for smarter construction is high around the world to cut the emissions and costs of housing. A wide range of solutions are needed for green field projects as renovation of older infrastructure, and Finland is a forerunner in many smart building and construction solutions.
Mobility & Transportation is focusing on improving the efficiency, sustainability, and safety of urban transportation systems. The solutions aim to solve urban congestion, pollution, and the need for seamless and efficient movement of people and goods. This covers Intelligent Transportation Systems, Smart Traffic Management and Autonomous Vehicles, to name a few.
Energy focuses on optimizing energy generation, distribution, consumption, and management to create greener and more resilient cities. The major part of energy is consumed in cities, so the biggest potential in reducing the consumption is in City Solutions. It can cover for example Energy Management Systems, Energy Storage Solutions and Smart Lightning.
Understanding the field is crucial when entering new markets. This is one of the core benefits SCIC offers for its members, and it’s delivered through Focus Groups. SCIC identifies the opportunities that fit the Focus Group members best, and plans the market entry strategy by connecting the challenge owners to solution-makers – the ones who aim to export Smart City solutions.
One aim in Focus groups is to make use-cases from collaborative solutions for present possible solutions to challenge owners
Focus and Areal Groups are the fast track for entering international markets through SCIC. The Groups are members-access-only, and export-promoting operations are done solely to serve the members in the Groups.
If you are interested in joining the Groups, log in to Expertise Area and find the Group of your interest. And if you’re not yet a member, contact CEO Pertti Kortejärvi for more information
Pertti Kortejärvi
CEO
Smart City Innovation Cluster
Originally published on 10 August.
Press release from KLAK The teams in Startup SuperNova: Astrid EdTech, GET Advising, GæðaMeistari, Lóalóa, Modul Work, Revolníu, Skarpur, Soultech. KuraTech and Lykkjustund are missing from the picture. Ten startups have been selected to participate in the business accelerator Startup SuperNova 2023 following an extensive preparation and selection process that began…
Press release from KLAK
Ten startups have been selected to participate in the business accelerator Startup SuperNova 2023 following an extensive preparation and selection process that began with a Masterclass course in June. A total of three dozen progressive startups competed for a place in the accelerator.
The ten startups currently participating in Startup SuperNova are working on diverse innovations in different fields; from a smart program with healing frequencies to help people with stress-related problems to interactive knitting patterns that adapt to the knitter’s imagination. But even though the wands are of many kinds, they all have one thing in common: working on innovations intended for the international market.
Startups that have done well in recent years after participating in Startup SuperNova include Plaio, Procura, Swapp Agency, Bulby, Keeps, Quick Lookup, FitTales, Deed Delivery and Stubbur.
“Representatives KLAK, Nova and Huawei have been working hard in recent days to select start-ups to participate in the business accelerator. It is especially pleasing that we received applications from many powerful entrepreneurs. We wish the top 10 teams the best of luck and look forward to working closely with them in the coming weeks,” says Ásta Sóllilja Guðmundsdóttir, manager of KLAK – Icelandic Startups.
Startup Supernova is a joint project of KLAK – Icelandic Startups, the telecommunications company Nova and the Chinese telecommunications giant Huawei, where they strive to build business solutions for the international market.
Astrid EdTech
Astrid EdTech tells stories about climate issues and encourages young people to learn, discuss new ideas and take action.
The team includes Ásta Olga Magnúsdóttir, Vanessa Carpenter, Geir Borg, Beatriz Prados, Sunna Mogensen, Lemke Mejer, Haukur Hilmarsson and Laufey Stefánsdóttir.
GET Consulting
GET Advising introduces a new approach to My pages, where companies work with business data from multiple parties, but through a single interface in a fast, convenient and secure way.
The team includes Guðlaug Hrönn Jóhannsdóttir and Eyvindur Tryggvason.
Quality Master
The Quality Master is a quality management system for sole traders, small and medium-sized companies in the construction industry. A simple, clear and favorable solution that improves quality and lowers costs.
The team consists of Sunna Ösp Þórsdóttir, Sara Hvanndal Magnúsdóttir, Reynir Viðar Ingason and Jón Andrés Vilhelmsson.
KuraTech
KuraTech multiplies the value of bankruptcy estates through automation and enhanced visibility for executors.
The team consists of Kristján Óli Ingvarsson, Árni Steinn Viggósson and Sara Árnadóttir.
Happy hour
Knittable increases the creativity of knitters by offering interactive knitting patterns that adapt to the knitter’s ideas, work for all types of yarn and come in all sizes. The solution shortens the time from idea to knitting from hours to minutes for the general knitter, and the time from idea to finished pattern from months to hours for knitting designers.
The team consists of Nanna Einarsdóttir, Renata Sigurbergsdóttir Blöndal and Jón Þorsteinsson.
Loaloa
Lóalóa is a simple solution for collections of videos and other content. The system both stores content and distributes it to various media, and each collection comes with customized websites that can be placed under any website.
The team includes Tinni Sveinsson, Valur Hrafn Einarsson and Sverrir Vilhjálmur Hermannsson.
Modul Work
Modul Work is a cloud solution that increases job satisfaction by actively involving people in their career development through direct ownership of their work through the use of live job descriptions. Live Job Descriptions are interactive templates that reduce jobs to tasks where teams have visibility and collaboration on division of labor in an ever-changing workflow with the help of artificial intelligence.
The team consists of Kristinn Freyr Haraldsson, Vilborg Þórðardóttir, Mats Lennartsson and Jónas Óskar Magnússon.
Revolution
Revolníu creates healing frequencies to help people with stress-related problems, sleep and concentration, and to help people with tinnitus. We are making smart apps and are developing a headset/brain scanner.
The team consists of Baldur Vignir Karlsson, Georg Holm, Kristján Þór Héðinsson and Einar Jón Einarsson.
Sharp
Skarpur develops a new software solution to revolutionize the planning sector. The system automatically creates and maintains optimal plans that allow you to react quickly to changes, reduce manual work and take your business to a new level of efficiency and effectiveness.
The team includes Aron Ásmundsson and Eythór Helgason.
Soultech
SoulTech develops software that transforms the collaboration of the public & psychologists. Our vision is that everyone, regardless of finances & location, has access to psychological support & self-help-psychological treatments.
The team consists of Bryndís Lóa Jóhannsdóttir, Davíð Haraldsson, Stefán Ólafsson, Pétur Örn Jónsson and Sophia Barcala.
Originally published on 20 July.
