TRACXN MONTHLY REPORT
MARCH 2021
NORDICS TECH

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Nordics Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 9
Top Funded Business Models - last 1 year 11
New Analyst Picks 12
IPOs 17
Acquisitions 18
Recent News 20

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Nordics Tech Snapshot – March 2021
Nordics Tech: Snapshot – March 2021
Note : "Investors" refers to "Institutional Investors" only
3
$1.8B
24 2
Overall Geo Stats
20
20
72
48
36
Funding Rounds $ Invested Analyst Picks
Klarna Upgraded to
DECACORN
New Investors
Placeholder
Robot Ventures
Series A+ rounds Active Investors IPOs
Readly
Trustpilot
Acquisitions
GameRefinery#@
MMT#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Stockholm
(9 Rounds, $1.6B)
Helsinki
(4 Rounds, $111M)
Oslo
(4 Rounds, $17.4M)
Gothenburg
(3 Rounds, $7.3M)
$1B - Series H
Klarna (2005, Stockholm, $2.6B)
$450M - Series D
Epidemic Sound (2009, Stockholm,
$476M)
$100M - Series C
Aiven (2016, Helsinki, $151M)
$40.9M - Series D
Matsmart (2012, Stockholm, $80.0M)
Almi Invest
(3 Investments)
Spintop Ventures
(2 Investments)
Visa
(1 Investments)
Macy's
(1 Investments)
In Store Retail Tech
Klarna
E-Commerce Enablers
Alternative Lending
Music Tech
Epidemic Sound
Market Size
Companies Covered 14,015
Funded Companies 5,503
Total Funding $42.9B
Funding in last 12 months $9.6B
Top Exits
IPOs 341
Acquisitions 1,212
Company Stage
Unicorns 5
Soonicorns 77
Minicorns 419
Editor Picks 1,694
Series A+ 1,263
Series C+ 272
Acqui-Hires 5
Deadpooled 1,013
Top Cities
Stockholm (1,121 Rounds, $12.2B)
Copenhagen (1,100 Rounds, $14.3B)
Top Investors
Almi Invest (276 Investments)
Accelerace (136 Investments)

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Nordics Tech as of March 2021
Nordics Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (March 2021)*
Klarna
(2005, Stockholm, $2.6B)
$1.0B - Series H Macy's
Epidemic Sound
(2009, Stockholm, $476M)
$450M - Series D EQT
Aiven
(2016, Helsinki, $151M)
$100M - Series C Atomico
Matsmart
(2012, Stockholm, $80.0M)
$40.9M - Series D
FishBrain
(2012, Stockholm, $58.3M)
$30.6M - Series C Adrigo
kompasbank
(2018, Vedbaek, $22.5M)
$22.5M - Series A
Charge Amps
(2012, Stockholm, $15.3M)
$15.3M - Series B Swedbank Robur
Concordium
(2002, Aarhus, $15.0M)
$15.0M - Series B ARK36
Whereby
(2013, Maloy, $12.0M)
$12.0M - Series A SaaStr
Cogo
(2019, Frederiksberg, $10.0M)
$10.0M - Series A PreSeed Ventures
Exabel
(2016, Oslo, $21.0M)
$9.0M - Seed Awilhelmsen
*Shows only the lead Investors

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (1/4)
List of Funding Rounds in Nordics Tech in March 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$14.5M - Series H
Klarna (2005, Stockholm, $2.6B)
Online platform for purchase financing
Wallenstam
LATE STAGE
$30.6M - Series C
FishBrain (2012, Stockholm, $58.3M)
App based social network for fishers
Adrigo, B Capital Group, SoftBank Ventures Asia
LATE STAGE
$40.9M - Series D
Matsmart (2012, Stockholm, $80.0M)
Online retailer of surplus grocery products at
discounted prices
LATE STAGE
$100.0M - Series C
Aiven (2016, Helsinki, $151.0M)
Managed DBaaS, open-source database and messaging
services
Atomico, World Innovation Lab, Earlybird Venture
Capital, IVP, Salesforce Ventures
LATE STAGE
$450.0M - Series D
Epidemic Sound (2009, Stockholm, $476.0M)
Online music licensing platform
EQT, Blackstone
LATE STAGE
$1.0B - Series H
Klarna (2005, Stockholm, $2.6B)
Online platform for purchase financing
Macy's, Sequoia Capital, BlackRock, Visa, Silver Lake,
and 3 more
LATE STAGE
PE
LEO Pharma (1908, Copenhagen)
Developer of drugs for treating dermatology diseases
Nordic Capital
EARLY STAGE
$2.4M - Series A
Gbuilder (2013, Oulu, $2.4M)
Provider of AR/VR-enabled 3D visualization solutions
AMAVI, Vendep Capital, Butterfly Ventures
EARLY STAGE
$3.3M - Series A
Scout Drone Inspection (2017, Trondheim, $3.8M)
Autonomous drone for visual inspection and non-
destructive testing applications
, Equinor, Investinor, CoFounder

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (2/4)
List of Funding Rounds in Nordics Tech in March 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$3.6M - Series B
Crosser (2016, Stockholm, $8.7M)
Provider of edge computing software for industrial and
enterprise IoT applications
NTT DOCOMO Ventures, Industrifonden,
Norrlandsfonden, Spintop Ventures, 42 Capital, and 1
more
EARLY STAGE
$4.3M - Series A
Cambri (2019, Helsinki, $5.0M)
Provider of concept testing software for market
research
OpenOcean, Spintop Ventures
EARLY STAGE
$4.4M - Series A
Element Finance (2019, , $4.4M)
Online exchange platform for cryptocurrencies
Andreessen Horowitz, Placeholder, A Capital Venture,
SV Angel, Scalar Capital, and 1 more
EARLY STAGE
$4.8M - Series A
Sellforte (2017, Helsinki, $5.4M)
Software solutions for consumer insights and
marketing optimisation
Sonae IM, Bonnier Ventures, Icebreaker
EARLY STAGE
$5.0M - Series A
Zaver (2016, Stockholm, $6.2M)
Web-based payment link solution for businesses
Inbox Capital, Inventure, Fredrik Österberg, Magnus
Rausing, Joen Bonnier, and 3 more
EARLY STAGE
$5.9M - Series A
Hystar (2020, Oslo, $5.9M)
Provider of hydrogen generation solutions using
electrolysers
AP Ventures, SINTEF
EARLY STAGE
$6.3M - Series A
AddiFab (2014, Jyllinge, $6.3M)
Provider of Industrial 3D Printing services
West Hill Capital
EARLY STAGE
$6.4M - Series A
Sendify (2015, Gothenburg, $8.3M)
Transportation management for logistics and delivery
industry
Rider Global, Atlantic Labs
EARLY STAGE
$8.3M - Series B
Enfuce (2016, Espoo, $17.9M)
Open banking API solutions
Tencent, Maki.vc

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (3/4)
List of Funding Rounds in Nordics Tech in March 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
EARLY STAGE
$10.0M - Series A
Cogo (2019, Frederiksberg, $10.0M)
App-based aggregator of EV ride-sharing services
PreSeed Ventures, Pia Vemmelund, Jens Willumsen,
Thomas Weikop
EARLY STAGE
$12.0M - Series A
Whereby (2013, Maloy, $12.0M)
Video conferencing software provider
SaaStr, Point Nine, John Komkov, Jason M Lemkin,
Harry Stebbings, and 18 more
EARLY STAGE
$15.0M - Series B
Concordium (2002, Aarhus, $15.0M)
KYC-enabled blockchain ledger
ARK36
EARLY STAGE
$15.3M - Series B
Charge Amps (2012, Stockholm, $15.3M)
Electric vehicle charging solutions
Swedbank Robur, Ny Teknik
EARLY STAGE
$22.5M - Series A
kompasbank (2018, Vedbaek, $22.5M)
Digital bank for businesses
EARLY STAGE
Series A
DreamPlan (2019, Copenhagen)
Online financial advisory platform for individuals
Accelerace
SEED STAGE
$171.8K - Seed
Cardinor (2015, Oslo, $921.8K)
Biomarker-based assays for cardiovascular diseases
Intuitive Investments Group
SEED STAGE
$952.6K - Seed
Strawbees (2014, Gothenburg, $3.2M)
Provider of recyclable educational toys for kids
Almi Invest
SEED STAGE
$1.2M - Seed
TIGERQ (2018, Lund, $1.2M)
Developer of gene editing and NGS analysis solutions
SEED STAGE
$1.2M - Seed
Soletair Power (2016, Lappeenranta, $1.8M)
Provides solution for carbon capture and conversion
into fuel
Wartsila
SEED STAGE
$1.4M - Seed
Learning To Sleep (2012, Malmo, $2.9M)
App based platform offering therapy for sleep disorder

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds (4/4)
List of Funding Rounds in Nordics Tech in March 2021
Nordics Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
8
SEED STAGE
$2.3M - Seed
Dagens (2020, Oslo, $2.3M)
Marketplace for direct trade between food producers
and chefs
SEED STAGE
$2.4M - Seed
BuddyCare (2015, Helsinki, $2.4M)
Provider of care communication and patient
engagement software in hospitals
UTU Invest, Business Finland, Nidoco, Ali Omar
SEED STAGE
$2.4M - Seed
Grönska (2014, Huddinge, $2.4M)
Developer of indoor vertical farming systems
Peas Industries, Rite Ventures, Martas Explorers,
Daniel Sachs Stiftelse
SEED STAGE
$2.5M - Seed
Abarceo Pharma (2017, Malmo, $2.5M)
Provider of novel therapeutics for type-2 diabetes
Almi Invest
SEED STAGE
$9.0M - Seed
Exabel (2016, Oslo, $21.0M)
AI-based portfolio management solutions for advisors
Awilhelmsen
SEED STAGE
Seed
Roaring (2016, Stockholm, $672.5K)
KYC and AML solutions
Nordstjernan
SEED STAGE
Seed
Dialogtrail (2017, Gothenburg)
Marketing through Facebook Messenger
Brightly Ventures, Chalmers Ventures

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (1/2)
List of New Investors in Nordics Tech in March 2021
Nordics Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
Placeholder
9 portfolio companies | VC firm investing in decentralized information networks
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Robot Ventures
12 portfolio companies | Venture capital fund investing in pre-seed fin-tech
startups
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Peas Industries
1 portfolio companies | Developer of wind energy projects
Grönska
Developer of indoor vertical farming systems
$2.41M Seed
Sonae IM
31 portfolio companies | Tech focused VC firm investing in geographies such as
Portugal and the US
Sellforte
Software solutions for consumer insights and marketing optimisation
$4.77M Series A
Scalar Capital
5 portfolio companies | Crypto-asset based hedge fund
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Awilhelmsen
1 portfolio companies | Private equity investment firm focused on multi sectors
Exabel
AI-based portfolio management solutions for advisors
$9.00M Seed
Daniel Sachs Stiftelse
1 portfolio companies | Daniel Sachs Stiftelse
Grönska
Developer of indoor vertical farming systems
$2.41M Seed
Visa
52 portfolio companies | Payment card network for businesses
Klarna
Online platform for purchase financing
$1.00B Series H
ARK36
1 portfolio companies | Home Page - ARK36
Concordium
KYC-enabled blockchain ledger
$15.00M Series B
NTT DOCOMO Ventures
101 portfolio companies | NTT Group backed venture capital fund
Crosser
Provider of edge computing software for industrial and enterprise IoT
applications
$3.56M Series B

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors (2/2)
List of New Investors in Nordics Tech in March 2021
Nordics Tech: List of New Investors
10
Investor Company Info Round Amount Round Name
AMAVI Capital
2 portfolio companies | Investment firm focused on real estate sectors
Gbuilder
Provider of AR/VR-enabled 3D visualization solutions
$2.38M Series A
UTU Invest
1 portfolio companies | UTU Invest
BuddyCare
Provider of care communication and patient engagement software in
hospitals
$2.36M Seed
Point Nine
26 portfolio companies | Venture capital funds focused on marketplace & SaaS-
based copanies
Whereby
Video conferencing software provider
$12.00M Series A
Salesforce Ventures
5 portfolio companies | Provider of business consulting services for tech
startups
Aiven
Managed DBaaS, open-source database and messaging services
$100M Series C
World Innovation Lab
47 portfolio companies | Stage agnostic tech focused VC firm investing primarily
in Japan and the US
Aiven
Managed DBaaS, open-source database and messaging services
$100M Series C
SaaStr
8 portfolio companies | Community for business software
Whereby
Video conferencing software provider
$12.00M Series A
A Capital Venture
38 portfolio companies | Early-stage tech focused VC firm investing in
geographies such as the US
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
SV Angel
660 portfolio companies | Tech focused seed stage VC firm investing in the US
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Adrigo
1 portfolio companies | Hedge funds focused on equity strategies
FishBrain
App based social network for fishers
$30.56M Series C
gullspangrefood.com
1 portfolio companies | Gullspång Re:Food
Matsmart
Online retailer of surplus grocery products at discounted prices
$40.91M Series D

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
11
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Esports League Organizers $1.9B 2 BLAST Pro Ser.. | $1.9B | Series D
2 <> 0 Internet First Direct Lender Purchase Financing $1.7B 4 Klarna | $1.0B | Series H
3 ▲4 Online Food Delivery $654M 3 Wolt | $536M | Series E
4 ▼-3 Lithium Ion Batteries $600M 1 Northvolt | $600M | Series C
5 ▲27
Music Tech > Music Artist IT > Copyrights Management >
Licensing Marketplace
$455M 2 Epidemic Sound | $450M | Series D
6 ▲143
Food Tech > Novel Foods > Food Products > Dairy
Substitute > Plant Based
$200M 1 Oatly | $200M | Series C
7 --
Online Grocery > B2C Ecommerce > Beverages >
Alcoholic > Wine > Listing and Recommendation
$155M 1 Vivino | $155M | Series D
8 <> 0 Free Float Electric Kick Scooter Rentals $136M 2 Voi | $107M | Series C
9 ▲146 Direct Home Buying $117M 1 Kodit.io | $117M | Series B
10 --
Alternative Lending > Online Lenders > Consumer Loans >
Personal Loans > Marketplace > P2P
$115M 1 Lendify Sweden | $115M | Series D

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/5)
Interesting Companies identified by Analysts in Nordics Tech in March 2021
Nordics Tech: Analyst Picks
12
Upgraded to DECACORN
Klarna (2005, Stockholm, Undisclosed, Series G)
Online platform for purchase financing
Reimann Investors, RocketSpace, BESTSELLER and 48
other Investors
Upgraded to UNICORN
Epidemic Sound (2009, Stockholm, $20.0M, Series
C)
Online music licensing platform
DSASSET, Creandum, Atwater Capital and 4 other
Investors
Upgraded to SOONICORN
FishBrain (2012, Stockholm, $13.5M, Series B)
App based social network for fishers
Industrifonden, Recruit Group, Mathias Ackermand
and 18 other Investors

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/5)
Interesting Companies identified by Analysts in Nordics Tech in March 2021
Nordics Tech: Analyst Picks
13
Upgraded to MINICORN
AddiFab (2014, Jyllinge, Undisclosed, Seed)
Provider of Industrial 3D Printing services
European Union, Capnova, Growth Fund and 3 other
Investors
Upgraded to MINICORN
Charge Amps (2012, Stockholm, $15.3M, Series B)
Electric vehicle charging solutions
Ny Teknik,Swedbank Roburand
Upgraded to MINICORN
Sellforte (2017, Helsinki, Undisclosed, Seed)
Software solutions for consumer insights and
marketing optimisation
Sonae IM,Bonnier Ventures,Icebreakerand
Upgraded to MINICORN
Whereby (2013, Maloy, $12.0M, Series A)
Video conferencing software provider
Point Nine, Hiten Shah, David Hauser and 20 other
Investors
Upgraded to MINICORN
Cogo (2019, Frederiksberg, $10.0M, Series A)
App-based aggregator of EV ride-sharing services
PreSeed Ventures, Thomas Weikop, Jens Willumsen
and 1 other Investors
Upgraded to MINICORN
Cambri (2019, Helsinki, $717K, Seed)
Provider of concept testing software for market
research
Finnish Business Angels Network, Gorilla Capital,
OpenOcean and 1 other Investors
Upgraded to MINICORN
kompasbank (2018, Vedbaek, $22.5M, Series A)
Digital bank for businesses
Added to Editor's Pick
Injurymymap (2017, Copenhagen, $404K, Seed)
Mobile-based application for pain management
EIT Health, THINK Accelerate, PreSeed Ventures and 1
other Investors
Added to Editor's Pick
Snowprint Studios (2015, Stockholm, $5.7M, Series
A)
Mobile game developer focusing on mid-core games
PunktB, Hiro Capital, Sisu Game Ventures and 4 other
Investors
Added to Editor's Pick
Learning To Sleep (2012, Malmo, $1.1M, Seed)
App based platform offering therapy for sleep disorder
Dendera, Almi Invest, Malte Rohlin and 4 other
Investors
Added to Editor's Pick
AsthmaTuner (2015, Stockholm, $1.5M, Seed)
Provider of smart device for managing ashtma
Butterfly Ventures,Almi Invest,EIT Healthand

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (3/5)
Interesting Companies identified by Analysts in Nordics Tech in March 2021
Nordics Tech: Analyst Picks
14
Added to Editor's Pick
Lurkit (2017, Linkoping, $677K, Seed)
Online video game database
Almi Invest,CBC Investment Group,Karl Magnus
Troedssonand
Added to Editor's Pick
Practio (2014, Copenhagen, $1.6M, Seed)
Mobile-based application for reminders and periodic
delivery of medicines
Growth Fund,Spintop Ventures,Carl Westinand
Added to Editor's Pick
PRECURE (2016, Allinge, $625K, Seed)
Developer of AI-based orthopedic rehabilitation
devices for orthopedic supports
Bornholms Erhvervsfond, Den Sociale Kapitalfond,
Peter Jaksland and 2 other Investors
Added to Editor's Pick
imagiLabs (2017, Stockholm, $304K, Seed)
Internet first brand offering smart keychains
Julia Delin, Propel, Katja Toropainen and 8 other
Investors
Added to Editor's Pick
Nova (1997, Stockholm, Unfunded)
Online talent network and recruitment platform
Added to Editor's Pick
iSD Immunotech (2007, Aarhus, Undisclosed, Grant
(prize money))
Immunoregulatory peptide therapeutics for
autoimmune diseases.
Novo A/S,BioVaria,Acceleraceand
Added to Editor's Pick
Edulab (2006, Copenhagen, $102K, Seed)
Educational platforms and apps creator
Lindhardt and Ringhof,VF Ventureand
Added to Editor's Pick
JourneyXP (2014, Copenhagen, $793K, Seed)
Cloud based no-code platform for app development
Seier Capitaland
Added to Editor's Pick
Uute Scientific (2019, Helsinki, Undisclosed,
Unattributed-Early)
Provider of natural extract products for treating
immune-mediated diseases
Butterfly Ventures,Health Incubator Helsinkiand
Added to Editor's Pick
OKTO (2019, Lyngby, Undisclosed, Conventional Debt)
Online platform offering grid network monitoring
solutions
Rockstart,Mist Ventures,Growth Fundand
Added to Editor's Pick
Medarca (2018, Malmo, $1.1M, Seed)
Manufacturer of solution for medicine management
devices for elderly patient
Queen Invest,Almi Investand
Added to Editor's Pick
Hystar (2020, Oslo, $5.9M, Series A)
Provider of hydrogen generation solutions using
electrolysers
AP Ventures,SINTEFand

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (4/5)
Interesting Companies identified by Analysts in Nordics Tech in March 2021
Nordics Tech: Analyst Picks
15
Added to Editor's Pick
Grönska (2014, Huddinge, $2.4M, Seed)
Developer of indoor vertical farming systems
Peas Industries, Daniel Sachs Stiftelse, Rite Ventures
and 1 other Investors
Added to Editor's Pick
Pronestor (2000, Copenhagen, $1.4M, Seed)
Conference & meeting room scheduling software
Dicoand
Added to Editor's Pick
TubusOne (2015, Copenhagen, $191K, Seed)
Communication device for navigating tablets and
smartphones
,Den Sociale Kapitalfond,EIT Healthand
Added to Editor's Pick
Ampliconyx (2016, Tampere, Undisclosed,
Unattributed-Early)
Provider of proprietary T-DCF based gain modules for
amplification in CW fiber lasers
Butterfly Ventures,Capital A Partners,New Factoryand
Added to Editor's Pick
QAtor (2003, Bagsvaerd, $247K, Seed)
Provides compliance management solutions for
healthcare industries
VIA equityand
Added to Editor's Pick
Achoo (2014, Copenhagen, $107K, Seed)
Social Monitoring and Influencer Tracking platform
FAHU, Syddansk Innovation, The Danish Agency for
Education and Research and 3 other Investors
Added to Editor's Pick
Arboair (2019, Linkoping, $29.2K, Grant (prize
money))
Offers support and planning services to forestry sector
Added to Editor's Pick
FarmDroid (2018, Odense, $446K, Seed)
Developer of an agricultural robot for farmers to sow
and clean crops
Syddansk Innovation,REInvest Roboticsand
Added to Editor's Pick
TKS Technology (2010, Nibe, $507K, Seed)
Provider of communication and wheelchair controller
system for disabled individuals
Borean Innovationand
Added to Editor's Pick
PushAppy (2015, Stockholm, Unfunded)
Gamification platform for the sales team
Stingand
Added to Editor's Pick
Softpay.io (2019, Copenhagen, $2.1M, Seed)
Mobile-based POS solution for businesses
Lehrmann Ventures,Jeppe Christiansenand
Added to Editor's Pick
Night Train (2020, Oulu, Undisclosed, Seed)
Provider of an application for sleep cycle monitoring
and analysis
Butterfly Venturesand

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (5/5)
Interesting Companies identified by Analysts in Nordics Tech in March 2021
Nordics Tech: Analyst Picks
16
Added to Editor's Pick
Dot.vu (2014, Holstebro, $36.6K, Seed)
Content creation and optimization platform
Borean Innovationand
Added to Editor's Pick
Mambeno (2014, Helsinge, $274K, Seed)
Online platform offering shoppable recipes
LYSGAARDand
Added to Editor's Pick
Careturner (2014, Herlev, Unfunded)
Developer of medical equipment for mobilizing
patients
Den Sociale Kapitalfondand
Added to Editor's Pick
Fiksuvuokraus.fi (2018, Espoo, Unfunded)
Provider of rental management solution for tenants
and landlords
Gorilla Capitaland
Added to Editor's Pick
Orbit Online (2011, Aarhus, Unfunded)
Cloud-based CRM solutions provider
Added to Editor's Pick
Tankille (2016, Akaa, Unfunded)
App-based platform offering fuel station discovery
solutions
Added to Editor's Pick
BlockStarPlanet (2016, Copenhagen, Unfunded)
Mobile game developer focusing on casual games
Added to Editor's Pick
Fira Smart (2020, Vantaa, Unfunded)
SaaS-driven data management software for
construction sites
Added to Editor's Pick
Diagnosio (2017, Norrtalje, Unfunded)
Provider of AI-based symptom assessment platform for
health risk assessment
Added to Editor's Pick
Encida (2019, Aalborg, Unfunded)
Automated application testing solutions provider

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
02 Mar 2021
Readly (2013, Stockholm, $46.8M)
Online digital newsstand
LON:0A7Q
23 Mar 2021
Trustpilot (2007, New York City, $180M)
Online platform for reviewing local businesses
LON:TRST
IPOs
List of IPOs in Nordics Tech in March 2021
Nordics Tech: IPOs
17

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Acquisitions (1/2)
List of Acquisitions in Nordics Tech in March 2021
Nordics Tech: Acquisitions
18
Acq. Date Company Acquirer Deal Size
02 Mar 2021
GameRefinery(2014, Helsinki)
Analytics solutions provider for game developer
Vungle
02 Mar 2021
MMT(1976, Gothenburg)
Oilfield survey company
Ocean Infinity
04 Mar 2021
Planday(2004, Copenhagen, $59.8M)
Workforce Scheduling & HR solution provider
Xero $221.6M
05 Mar 2021
Nets(1968, Ballerup)
Payment processing solutions for businesses
Mastercard $3427.4M
08 Mar 2021
din-X(1961, Helsingborg)
Provider of the fuel payment card for consumers
Pioneer Capital
09 Mar 2021
Creditinfo(1997, Reykjavik)
Credit information and risk management solutions provider
Levine Leichtman Capital
Partners
16 Mar 2021
Firstborn Capital(2014, Copenhagen)
Lending as a service platform for businesses
ROI Media
16 Mar 2021
Tessin(2014, Stockholm)
Investera i fastigheter via crowdfunding | Tessin
Effnetplattformen
17 Mar 2021
Inven(2008, Oslo)
Supply chain planning solutions
Blue Ridge
18 Mar 2021
Norkart(1961, Sandvika)
Location based consulting services and GIS data platform provider
Ferd

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions (2/2)
List of Acquisitions in Nordics Tech in March 2021
Nordics Tech: Acquisitions
19
Acq. Date Company Acquirer Deal Size
19 Mar 2021
Aur(2014, Reykjavik)
Card-linked wallet for consumers
Kvika
23 Mar 2021
Lua(2020, Copenhagen, $1.2M)
Online real-time workflow management software for
organizations
Beekeeper
23 Mar 2021
Hemfakta(2020, Stockholm)
Platform offering product comparisons between multi-category
products
puffereg.com
24 Mar 2021
Trackunit Telematics(1998, Pandrup)
Leading supplier of telematic solutions for machines and vehicles.
HgCapital Trust $40.4M
24 Mar 2021
Tickstar(2007, Stockholm)
Cloud services provider
Xero
26 Mar 2021
MFEX(2003, Stockholm)
Trade lifecycle management solutions
Euroclear
29 Mar 2021
Itiviti(1987, Stockholm, $5.1M)
Trade life cycle management solutions for capital markets
Broadridge $2527.1M
29 Mar 2021
Bring(1999, Oslo)
Offers shipment tracking & delivery services
Aurelius
29 Mar 2021
Bitcoin.se(2012, Gothenburg)
Blog on Bitcoin
Safello
31 Mar 2021
Rekatochklar(2008)
Online platform offering multi-category sports betting tips
Better Collective $4.5M

Nordics Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Nordics Tech in March 2021
Nordics Tech:News
20
Exit News
.
● Crowdstrike acquires log management software firm Humio for $400 million
Tech.eu
.
● Xero acquires Danish workforce management platform Planday ChannelLife
.
● Online review platform Trustpilot plans London Main Market float Morningstar
.
● Adevinta, eBay to sell UK units to secure $9.2 billion tie-upThe Star Online
.
● Euroclear to Strengthen Offerings with MFEX Group Acquisition Finance Magnates
.
● Northvolt acquires Cuberg to commercialize battery cells for electromobility
Telematics News
.
● Vungle Acquires GameRefinery, a Leading SaaS Mobile Gaming Analytics
Company PR Newswire
.
● Norvestor will increase water management fivefold Finansavisen
.
People News
.
● Nokia likely to cut up to 10,000 jobs over next two years RCRWireless
.
● Inmarsat hires Barry French from Nokia TelecomLead
.
● Nokia will appoint Melissa Schoeb as Senior Vice President, Communications
and Public Relations and a member o... GlobeNewswire
.
● Macrobond Hires Two Senior Sales Leaders To Support Growth In The
Americas And Uk Financial IT
.
● Truecaller appoints Rishit Jhunjhunwala as Managing Director, India Adgully
.
● Nokia India to slash 1,500 jobs as part of global restructuring TelecomLead
.
Company News
.
● Zealand Pharma Announces FDA Approval of Zegalogue (dasiglucagon)
injection, for the Treatment of Severe Hypog... pipelinereview.com
.
● Spotify Launches In Sri Lanka, Nepal, Bangladesh And Pakistan MediaNama
.
Regulatory News
.
● Apple Faces Lawsuit From Spotify Complaint Over Music Services PYMNTS.com
.
● EBay to sell Gumtree UK and Motors.co.uk following CMA orders retail-insight-

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