From health tracking rings used by Prince Harry, to quantum computing developments, Finland has a fast-growing start-up community that’s emerged in the previous 10 years.
The nation’s likewise shown its capability to scale up tech organizations. On our list of the fastest growing scaleups of 2020, 4 out of the leading 10 were Finnish start-ups.
However which start-ups are VCs enjoying today? We asked 4 financiers based in Finland to advise the business they’re interested in and thrilled about.
Their suggestions vary: from a needle-free healthtech tool, to fabrics made from recycled leather, and from an AI composing tool to a brand-new method to deal with wrinkles.
We simply had one guideline: to keep things intriguing, the financiers couldn’t advise business in their own portfolios.
Pauliina Martikainen, financial investment director at Maki.vc
Maki.vc is a seed-stage VC company based in Helsinki.
What’s the tech? A market for quality pre-owned furnishings
What issue is it attempting to fix? “Secondhand is a worldwide megatrend with double digit development. Offering and purchasing quality pre-owned furnishings today is lengthy for sellers along with for purchasers who require to browse their method through many products and arrange transport while experiencing unpredictability about the items’ quality. Mjuk have actually produced a scalable end-to-end market platform, where consumers can purchase or offer furnishings with a couple of clicks and get furnishings got or provided at a time of their picking.”
Overall financing: N/A
What’s the tech? Customized modifying consoles for innovative and live streaming verticals.
What issue is it attempting to fix? “Creatives invested many hours in the modifying procedure. Software application has actually ended up being significantly intricate, less user-friendly and irregular throughout applications. When it concerns live streaming, handling all the components of the stream while concentrating on your audience is an obstacle. Standard tools, such as the keyboard and mouse mishandle methods to browse this. Loupedeck’s user manages essentially enhance the workflow with their typical interface throughout applications that supplies an instinctive and effective user experience.”
Overall financing: N/A
What’s the tech? A digital platform focused on enhancing the health and wellbeing of senior individuals by combining senior individuals with buddies.
What issue is it attempting to fix? “Increasingly more senior individuals are experiencing isolation and they live far from family members. Gubbe has actually developed a market for discovering buddies for senior individuals. A regional young adult acquainted with the job goes to the senior for a couple of hours a week. A see can consist of, for instance, cooking together, heading out, or working out. After the go to, family members will get info about the senior’s health and wellbeing.”
Overall financing: €1.7m
Ekaterina Gianelli, partner at Inventure VC
Inventure is a VC company based in Finland and Sweden.
What’s the tech? A foodtech start-up pilot evaluating an innovation that utilizes electrical power to produce hydrogen which is integrated with co2, water, minerals and vitamins to feed and grow a microbial biomass that can be utilized as edible protein.
What issue is it attempting to fix? “Standard food production triggers a great deal of damage to our world. What if we discovered a method to produce food in a more sustainable method, minimizing making use of land, greenhouse gas emissions and protecting biodiversity?
Solar Foods is identified to do simply that with their eco-friendly method of developing protein by utilizing co2 and electrical power as its basic materials.”
Overall financing: €35.1m
What’s the tech? A platform that assists business to automate their repeated jobs.
What issue is it attempting to fix? “There is barely anybody who likes daily repeated jobs — copy and pasting information to stand out sheets, examining billings or processing travel claims. Robotic procedure automation (RPA) can automate any of these regular jobs, releasing the time for more innovative work. Among the most interesting groups in the RPA area is Robocorp. With their open source platform, they make it simpler to develop, release and keep track of bots to support your automation efforts.”
Overall financing: €10.5m
What’s the tech? An AI tool that transforms words into texts without users needing to think of structure or grammar.
What issue is it attempting to fix? “Flowrite wishes to make your daily composing more effective, transforming simply a couple of words into ready-to-use sentences, while likewise taking your individual writing design into account. It isn’t the very first business with the vision to make composing simpler, however with the current tech developments (e.g. the brand-new OpenAI’s engine, GPT-3, that Flowrite is developed on) the group has great momentum.”
Overall financing: €550k
Inka Mero, creator and handling partner at Voima Ventures
Voima is a deeptech financial investment company, investing throughout the Nordics and Baltics.
What’s the tech? A quantum computing start-up based in Espoo, Finland. We covered its newest quantum advancement here.
What issue is it attempting to fix? “IQM is a spin-off from Aalto University and established by the leader Prof. Mikko Möttönen. The group’s work began with developments in qubit reset, readout and thermal management towards massive quantum processors. Presently it’s establishing distinct hardware benefits and unique principles around digital-analogue quantum computing. Mikko is among a kind, a wonderful creator and the group is among the leaders in quantum.”
Overall financing: €67.5m
What’s the tech? A healthtech allowing needle-free health tracking tools. The very first tool produced is for needle-free glucose tracking.
What issue is it attempting to fix? “The Majority Of the Finnish research study commercialisation financing goes to medtech and life sciences. Glucomodicum is a wonderful example of a disruptive business integrating difficult core clinical research study, bioelectronics, AI and microelectronics.”
Overall financing: N/A
What’s the tech? A wrinkle-filling treatment, which intends to restore the client’s own tissue instead of fill and paralyse the wrinkle.
What issue is it attempting to fix? “Its development is a unique bioengineered tissue, which is devoid of all the hazardous impacts of botox and other toxins or acids which are typically injected into females’s and males’s bodies to minimize wrinkles.”
Overall financing: €50k
What’s the tech? Spinnova produces fabric fiber out of a pulp produced from scrap leather.
What issue is it attempting to fix? “Finland approves brand-new products, circular economy and next generation bio-based business. Spinnova is increase their next factory and simply revealed IPO strategies. The Swedish Renewcell began this wave, and we can anticipate lots of other business to follow.”
Overall financing: €11.3m
Mari Luukkainen, head of development at Icebreaker.vc
Icebreaker.vc is an equity capital company for pre-creators and founders. It purchases Nordic and Baltic business just.
What’s the tech? Bob W is a tech-orientated hospitality start-up, using contactless apartment or condos for brief stays.
What issue is it attempting to fix? “Bob W is a hospitality market start-up introduced prior to the pandemic that’s achieved success in advancement in all fronts (group, item, circulation, financing) even throughout the lockdown. Sustainability worths are at the core of Bob W, so every night in the lodging is climate-neutral. It will be intriguing to see where this goes when taking a trip in Europe rebounds.”
Overall financing: €10m
What’s the tech? Swarmia provides engineering groups within business access to analytics on how well modifications and advancements carry out.
What issue is it attempting to fix? “We like creators with strong domain competence. Swarmia is an ex-Smartly CPO established designer tools’ start-up for designers. The existing group has lots of fantastic skill from Wisely, so they’ve seen what it requires to develop an effective start-up and its course to a scaleup. Swarmia’s objective is to increase presence in engineering groups to assist executives to take part in making more data-driven company choices. It serves as the bridge in between engineering and company, something that is typically missing out on from the start-ups I handle, so I’m really curious to see this one in action.”
Overall financing: €7.3m
What’s the tech? The Helsinki-based start-up makes automated web analytics tools for social networks and internet marketing. It belonged to our fastest growing scaleups list in 2015.
What issue is it attempting to fix? “I’ve been utilizing and following this one for several years, and we actively utilize Supermetrics with our portfolio business. Supermetrics began with an easy Google Sheets add-on that has actually worked to track and compute crucial metrics such as CAC and has actually taken big leaps in advancement because (technical and company viewpoint). From the development viewpoint Supermetrics likewise represents among the uncommon types of “self-service SaaS” around here (yes, it’s a thing), suggesting you can really begin utilizing it by beginning a totally free trial and including a charge card without talking with sales and going through a compulsory business sales procedure.”
Overall financing: €43.5m
Freya Pratty is Sorted’s news press reporter. She tweets from @FPratty