26 Jul The Nordic Web Weekly

Welcome to another edition of The Nordic Web Weekly, where we bring you the latest from The Nordic Web as well as curating all the need-to-know news from The Nordic Startup scene.

Curated and written by @neilswmurray

This Week on The Nordic Web

In our final country specific analysis for Q2, we focus on the nation that provides the majority of investment action for the region, not only that but is also one of its most consistent performers.

After a minor correction in Q1 (which in fairness was still 2nd only to Q4 2016 in number of investments) Q2 2017 was back with a bang, as the Nordic’s biggest ecosystem recorded 111 investments totalling $319.8 million.

The Q2 2017 Swedish Funding Analysis

Before our VC-backed exit analysis tomorrow, first we take a deeper look at the macro technology exits that occurred in the region in Q2, as the last three months witnessed further strong performance to build on Q1’s, with 46 Nordic technology exits totalling a disclosed $1.23 billion in Q2 2017.

The Q2 2017 Nordic Exit Analysis

As we hinted at yesterday, Q2 2017 was a strong quarter for VC-backed exits, even improving on Q1’s 12, which saw the Nordics equal Germany as the place with the most VC-backed exits in Europe in Q1.

Over the last three months, the region provided investors with a further 16 exits totalling a disclosed $848 million.

Analysis: VC-backed exits in Q2 2017

Crowberry Capital is the Nordic’s latest fund. Last week they announced the first closing of their new fund at $38 million (final close at $48 million) with the fund founded by former NSA Ventures veterans Helga Valfells, Hekla Arnardóttir and Jenný Ruth Hrafnsdóttir.

As the fund is completely new, we thought it would be fun to get to know each of Crowberry Capital’s GPs a little better. Jenny, Helga and Hekla all worked on their answers individually, meaning we get a rare opportunity to get an insight into how all of a fund’s GPs think in one go.

An Interview with Jenny, Helga and Hekla of Crowberry Capital, Iceland’s and The Nordic’s Newest Fund

This Week in The Nordics


LuggageHero has raised 2.5MDKK

Vitamin startup Take Daily has raised 1MDKK from Capnova

Robotics startup Intelligent Marking has raised an undisclosed amount

NAPP has raised an undisclosed amount of capital


PromoRepublic pulls in $1.2 million, brings AI to content creation on Facebook and Instagram


Crowberry Capital and what it means for the Icelandic Ecosystem

Indy studio Tasty Rook just released its first title: Triple Agent


Kahoot! have closed a further $10 million bringing their Series A to $20 million

VR startup Vizda has raised 1MNOK in private investment

The project DoMore! aims to achieve better and faster diagnosis and prognosis of cancer with technology solutions


Smartster has raised 6.3MSEK

Taskrunner has raised 2MSEK

Prince Carl Philip has invested 1MSEK into an undisclosed VR startup

eValent has a new majority owner

Bambora was acquired for $1.7 Billion

Schibsted sells its stake in Hitta.seVirtusize were on the brink of bankruptcy, now they are ‘big in Japan’

More existing shares in Klarna change hands

Springworks has expanded into the Danish market

Interesting Reads

The Rising North Fund invests in new startup initiatives

Government report expects Finnish sharing economy to grow 1200% by 2020

The CEO of the new Nokia just resigned, and nobody is sure why

These 7 Malmö startups are shaking up old-school industries out of Minc incubator

Finnish innovators have invented a new material to wrap up the packaging market – no plastic, no harmful chemicals and completely recyclable

Europe’s most entrepreneurial country? It’s not the one you might expect

Helsinki’s Startup Ecosystem: Vibrant, with room for growth

Denmark tops global cleantech competition index 2017

Why I created Auddly

Nokia phones are coming back — and the newest model may have just leaked online

How a small city in Finland turned into a 5G pioneer

Business Showcase: BehavioSec

How Finnish Foodtech spices up your daily meals

Meet the 31-year-old Swede behind Inkbay, the world’s first online booking system for the £38 billion tattoo industry

Here’s the Stockholm tech scene summed up in one clever diagram