The last month has been an unusually active one when it comes to investments in the region. We have made an overview, just to give an insight into some of things that have happened! Here are some of the most noteworthy recent investments into startups in the Øresund region in May.
The biggest recent one was of course Tradeshift. The first FinTech startup that has reached “unicorn” status, being valued at over $ 1 billion! Tradeshift is based in Copenhagen and it received over € 212 million from Goldman Sachs, as well as a number of other investors. You can read a lot more about that at TechCrunch and a host of other sources as well.
“We have always believed that the future of supply chains is 100 percent digital and that connecting trade is just the first step to a digitally connected economy. This investment will enable us to continue our rapid growth and consolidate our leadership position.”
– is one of co-founder Christian Lanng’s many comments on this. Impressive work building the company to this stage.
Ear Labs, a Copenhagen / Malmö-based company that produces ear phones and ear plugs, has received over € 650.000. The Ear Labs’ team has created ear plugs that protect ears underwater. Now they are working on ear plugs that could be used in nightclubs and other noisy environments. The project was founded by Swedens Almi Invest and other investors in Denmark and China.
Ann-Sofie Hörlin, Investment Manager på Almi Invest, commented their recent investment:
“Ear Labs has developed a unique product with many uses in a scalable market. They work in a competitive area, but with their sharp team and a product in front edge, we see big potential for the company.”
Fieldly, has reported an investment of € 1.22 million. Fieldly provides digital project management systems for construction businesses. Their product makes communication between building companies and construction sites easier. Time reports, material usage and deliveries can be reported directly in the smartphone or tablet app. The biggest investment came from Roland Zeller, a Swiss business angel, as well as angels Christer Dahlén, Dan Nilsson and Mårten Öbrink.
Fieldly’s co-founder, Daniel Krusenstråhle, said:
“We have spent our first four years proving that we operate well with small and medium-sized companies. Now we have reached the point when we feel that our product is ready for bigger challenges and so is our organisation.”
With the investment the startup also announced they moved into bigger offices in Malmö.
As we already reported, another fintech investment that happened in the region was Pleo, raising the biggest Series A investment so far in the region. The funding of € 13 million will be used to grow outside the startups initial focused cities, and bring it’s services and it’s special employee credit card to more markets.
A lesser known startup that recieved investments in May was Nikka Systems, a Malmö based statup focusing on education about IT security. The company received funds from Kjell & Company’s co-founder, Marcus Dahnelius.
“You can see that there is a big need for IT security in companies of all sizes. We are already getting request for our products, before they have been launched” says Marcus Dahnelius.
Another funding we have already covered, that was announced this month, was Tame. The event planning startup has been under the radar until now, but has a strong team and impressive angels backing it. The startup raised € 450.000 in it’s first round.
A Copenhagen-based startup Undo has received over € 3.3 million from Tryg. Undo has developed an app, which will let you get a custom-made insurance in just a few minutes. At the moment, their target audience is young people up to mid-30s, who do not know much about insurance whatsoever.
“To get an insurance is complicated and it takes a long time, and many are afraid of the process, because they cannot really understand what they buy and at the same time they get stuck with long binding time and huge cancellation fees. Almost all insurance services operate with a fixed package, but it can consist of many coverings you do not need, With us you choose only the necessary things, and you pay per month, no fees or binding time”, explains Sophie Bohr Grønbæk, co-founder of Undo.
Now Undo opens innovative insurance solutions for people in Copenhagen and Aarhus, planning to extend to other Scandinavian and European cities too.
And finally, Uizard, a startup from Copenhagen raised € 670.000. The startup turns a wire-frame or mock-up into a source code, so the designer and developer workflow is improved and less time is spent on writing a code from scratch.