mondayfriday: 902 companies went bankrupt in sweden, digitising coin collection + orbis medicine secures €26m in seed financing.
TGI(M)F. edition97, week09. i’m kay, and this is your weekly round-up of curated startup news from the nordics, delivered to your screen for easy reading every sunday.
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🇩🇰 Denmark
oasicare, the MedTech startup building a device to prevent perineal tears during childbirth are accepted into BioInnovation Institute’s Venture Lab.
Subsets, the company building an AI-powered platform to solve “the retention gap in the subscription industry”, raises €1.5m in pre-seed funding led by Upfin and Y Combinator.
Orbis Medicines launches with €26m in seed financing to transform macrocycle drug development, led by Novo Holdings and Forbion.
Uvisa Health, the femtech startup offering non-pharmacological solutions to women's most intimate health issues raises €800k from a series of angel investors.
Kvasir Technologies, the company developing a CO2-neutral bio-oil to accelerate the green transition in shipping, raises a €3m extended seed round from The Footprint Firm and EIFO.
🇸🇪 Sweden
Bionamic, the startup focusing on AI and data-driven solutions for biopharma teams, raises €350k from I Love Lund and a list of existing investors.
Apica, a company specialising in data management and active observability, raises an undisclosed amount in funding from Riverside Acceleration Capital (RAC) and existing investors.
902 companies went bankrupt in Sweden during February - the worst month since the 1994 financial crisis.
🇫🇮 Finland
VNTRS, the Nordic-Baltic venture studio HQ’d in Stockholm, invests in Coiniverse, the platform turning the traditional hobby of coin collecting into a digital experience.
🇳🇴 Norway
Inseanergy, the company specialising in turnkey solutions for floating solar cell systems raises €2.6m from Norselab and Umoe.
3LC, the Norwegian founded AI company making it seamless to “revolutionising how machine learning models are trained” raises €1.8m from family offices and business angels across the EU and U.S.
Mobai, the startup helping to reduce fraud and provide seamless user experiences with their facial biometric verification raises a seed round of €2.6m from former Google and Twitter execs.
// Profitable in all 3 markets - thanks to Generative AI.
Kry, the Swedish digital healthcare platform is now profitable in all 3 of their markets (France, U.K + Sweden). According to co-founder Johannes Schildt, they “wouldn’t have managed it as quickly without AI”. Since introducing GenAI to its workflows, they’ve seen a 30% drop in administrative time around each patient-doctor meeting. Read more in Sifted here.
// “What We Can Learn From Renewcell’s Financial Struggles”
Sweden’s Renewcell, the leading textile-to-textile recycling technology for the Fashion industry filed for bankruptcy last week and now Forbes Senior Contributor Brooke Roberts-Islam explores why. Read the article here.
🎵 Upright Music are hiring a new Finance Manager
🩺 Corti are hiring a Director of Customer Success
🍅 REDUCED are hiring a Global Marketing Manager.
"Charting Your Course: Building Successful Start-up Careers in Denmark" hosted by Femme Lead Podcast & Monta → March 13th, 17:30 - 20:00 at Monta HQ.
Thanks for tuning in! i’m always on the hunt for newsworthy content to bring to the mondayfriday audience. and, if you ask me, the best place is from the sources themselves! so, feel free to reach out and fill me in on any startup related news in the nordics ✨
yours weekly,
kay