The European Innovation Council (EIC), established in 2020 and headquartered in Brussels, Belgium, is dedicated to supporting high-potential innovators, entrepreneurs, small enterprises, and researchers. Its primary focus is on fostering early-stage startups that demonstrate significant environmental, social, and governance (ESG) impacts. The EIC collaborates with private investors to co-invest in ventures, particularly within the deep technology sector, aiming to drive innovation and sustainable development across Europe. By providing financial backing and resources, the EIC seeks to enhance the growth potential of promising startups and contribute to a more innovative and competitive European economy.
Sparrow Quantum Aps. is a Danish company specializing in quantum technology, particularly in the development of advanced light-matter interfaces. The firm focuses on creating deterministic single-photon sources, which are essential for various quantum technologies. Sparrow Quantum boasts the highest efficiency for on-chip single-photon sources globally, characterized by exceptional photon purity, indistinguishability, and outcoupling capabilities. This cutting-edge technology is rooted in over twenty years of research at the renowned Niels Bohr Institute in Copenhagen, from which the company holds exclusive licenses for key patents. By leveraging self-assembled quantum dots paired with slow-light photonic-crystal waveguides, Sparrow Quantum enhances light-matter interactions, providing critical advancements for its clients in the field of photonic quantum technology.
AlzeCure Pharma
Grant in 2025
AlzeCure Pharma AB, established in 2012 and headquartered in Huddinge, Sweden, is a pharmaceutical company dedicated to developing drug therapies for central nervous system disorders. The company's primary focus is on Alzheimer's disease, with a pipeline consisting of five drug candidates based on its NeuroRestore and Alzstatin research platforms. These candidates are in various stages of development, targeting conditions such as sleep disruptions, traumatic brain injuries, neuropathic pain, and eye/ear indications. AlzeCure's team comprises key professionals with complementary expertise, spanning from molecule to man, and the company aims to be an industry-standard incubator for novel projects.
Basemark
Series B in 2024
Basemark Oy is a technology company based in Espoo, Finland, specializing in performance measurement and augmented reality software for various industries, particularly in automotive applications. Founded in 2015, Basemark develops a suite of benchmarking tools that include Basemark ES 3.1 for graphics performance comparisons, Basemark OS II for system-level performance assessment of smartphones and tablets across multiple platforms, and Basemark X for evaluating gaming and graphics performance. Additionally, it offers Browsermark, which tests browser performance on a range of devices, and Basemark CL for measuring OpenCL implementations. In the automotive sector, Basemark provides a comprehensive suite of augmented reality development tools, enabling original equipment manufacturers and suppliers to create and deploy advanced AR applications for vehicle functions. These tools encompass features such as augmented reality navigation, head-up displays, and AI-based spatial computing, enhancing safety and performance in software-defined vehicles.
Heart Aerospace
Series B in 2024
Heart Aerospace AB, founded in 2018 and headquartered in Gothenburg, Sweden, with an additional location in Palo Alto, California, focuses on developing an electric regional airliner aimed at enhancing sustainable transportation for regional travel. The company's flagship aircraft, the ES-19, is designed to accommodate nineteen passengers and boasts an operational range of 400 kilometers. Heart Aerospace seeks to significantly reduce fuel and maintenance costs compared to traditional aircraft while achieving zero operational emissions. The innovative design allows for a low infrastructural footprint, facilitating the use of small airports located near city centers. Heart's objective is to secure certification for the ES-19 for commercial operations by 2026, aligning with its mission to provide affordable and environmentally friendly travel options across the globe.
ResoTher Pharma
Grant in 2023
ResoTher Pharma is a Copenhagen-based biotechnology company specializing in the development of peptide-based drugs aimed at treating cardiovascular and inflammatory disorders characterized by neutrophil-driven inflammation. The company focuses on leveraging the endogenous immunomodulator Annexin A1 to create therapeutic solutions that act as resolution therapy for diseases associated with innate immune activation. By targeting a specific G-protein coupled receptor on leukocytes, ResoTher Pharma's patented peptide drugs aim to mimic the body's natural mechanisms for resolving inflammation and promoting tissue healing, addressing significant unmet medical needs in the treatment of these conditions.
Handiscover
Seed Round in 2023
Handiscover Sweden AB, founded in 2014 and based in Malmö, Sweden, operates an online booking platform focused on holiday accommodations for individuals with physical disabilities. This pioneering service features a unique classification system that allows users to filter options based on their specific mobility needs. Handiscover aims to simplify the process of finding accessible vacation rentals, catering to the diverse requirements of its users. Additionally, the platform assists companies and municipalities in gathering and presenting specialized accessibility data, ensuring that individuals with disabilities can easily discover and book suitable accommodations for their travels.
Neuro Event Labs
Convertible Note in 2023
Neuro Event Labs Oy is a Finnish medical technology company founded in 2015 and based in Tampere. The company specializes in developing artificial intelligence-powered software that monitors epilepsy patients both at home and in clinical settings. Its primary product collects and analyzes accurate data on epilepsy seizures through the use of video and various sensors, leveraging computer vision, smart analytics, and machine learning. This data is relayed to healthcare providers, allowing them to make informed treatment decisions tailored to individual patients. The solution has been crafted in collaboration with leading hospitals in Finland, enhancing its reliability and effectiveness in managing epilepsy care.
Sparrow Quantum
Seed Round in 2023
Sparrow Quantum Aps. is a Danish company specializing in quantum technology, particularly in the development of advanced light-matter interfaces. The firm focuses on creating deterministic single-photon sources, which are essential for various quantum technologies. Sparrow Quantum boasts the highest efficiency for on-chip single-photon sources globally, characterized by exceptional photon purity, indistinguishability, and outcoupling capabilities. This cutting-edge technology is rooted in over twenty years of research at the renowned Niels Bohr Institute in Copenhagen, from which the company holds exclusive licenses for key patents. By leveraging self-assembled quantum dots paired with slow-light photonic-crystal waveguides, Sparrow Quantum enhances light-matter interactions, providing critical advancements for its clients in the field of photonic quantum technology.
Samplix
Grant in 2023
Samplix is a biotechnology company based in Herlev, Denmark, focused on single-molecule sample preparation for DNA and RNA. It has developed the Xdrop™ technology, which utilizes a unique “water-oil-water” droplet system to create millions of reaction chambers for handling individual DNA molecules. This innovative approach allows for targeted enrichment of large DNA fragments and enables researchers to sequence specific genetic regions effectively. Samplix's technology addresses the limitations of existing multi-molecule preparation methods, providing enhanced precision and sensitivity while simplifying the sample preparation process. Its solutions empower scientists to make informed research decisions, particularly in applications related to virus integration and CRISPR editing.
Samplix
Venture Round in 2023
Samplix is a biotechnology company based in Herlev, Denmark, focused on single-molecule sample preparation for DNA and RNA. It has developed the Xdrop™ technology, which utilizes a unique “water-oil-water” droplet system to create millions of reaction chambers for handling individual DNA molecules. This innovative approach allows for targeted enrichment of large DNA fragments and enables researchers to sequence specific genetic regions effectively. Samplix's technology addresses the limitations of existing multi-molecule preparation methods, providing enhanced precision and sensitivity while simplifying the sample preparation process. Its solutions empower scientists to make informed research decisions, particularly in applications related to virus integration and CRISPR editing.
Valo Therapeutics
Grant in 2023
Valo Therapeutics is an immunotherapy company based in Oxford, United Kingdom, with an additional office in Helsinki, Finland. Founded in 2016, the company focuses on developing antigen-coated oncolytic viruses as therapeutic vaccines for cancer treatment. Its primary platform, PeptiCRAd, is an engineered human oncolytic adenovirus designed to stimulate a systemic anti-tumor T cell response. This innovative approach enables the conversion of oncolytic adenoviruses into targeted, tissue-specific cancer vaccines without the need for multiple genetically modified viruses. Additionally, Valo Therapeutics is working on other strategies, such as PeptiENV, to enhance therapeutic responses to enveloped oncolytic viruses across various cancer types. By utilizing tumor-specific peptides, the company aims to elicit a robust adaptive immune response, potentially providing lasting immunity against multiple cancers and improving patient outcomes.
TILT Biotherapeutics
Venture Round in 2023
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.
TILT Biotherapeutics
Grant in 2023
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.
Modvion
Convertible Note in 2023
Modvion AB, founded in 2015 and based in Gothenburg, Sweden, specializes in the design and development of modular wind power towers constructed from renewable composite materials. The company's innovative modular technology simplifies construction logistics by facilitating transportation and installation of towers over 120 meters tall. This approach not only reduces costs associated with traditional steel tower construction but also enhances efficiency in harnessing wind energy. By leveraging engineered wood products, Modvion aims to improve the economic viability of wind power investments for power plant construction businesses, ultimately contributing to a more sustainable energy landscape.
Kvantify
Grant in 2023
Kvantify, founded in 2022 and headquartered in Copenhagen, Denmark, specializes in quantum computing management software aimed at addressing complex computational challenges across various sectors, including life sciences, financial services, and logistics. The company's platform focuses on enhancing drug discovery processes by employing proprietary physics-based methods to improve the quality of compounds tested in laboratories. By providing advanced computational drug technology, Kvantify enables life sciences companies to accelerate small molecule research and obtain actionable results that significantly impact their operations.
N2 Applied
Private Equity Round in 2023
N2 Applied is a Norwegian technology company focused on revolutionizing fertilizer production for farmers. Operating from its headquarters in Oslo/Asker and with a test center in Svene, Norway, along with branches in the Netherlands and the UK, N2 Applied has developed an innovative technology that allows for the local production of fertilizer using liquid organic substrates like slurry or digestate, combined with air and electricity. This process enhances nitrogen content while preventing ammonia loss and reducing emissions, thus promoting a more sustainable farming approach. By utilizing plasma reactors, the company enables farmers to recycle livestock manure into environmentally friendly fertilizer, lowering production costs and increasing crop yields. N2 Applied's scalable solution aims to streamline the fertilizer supply chain, minimizing reliance on fossil fuel-based chemical fertilizers and contributing to on-farm reductions in methane and ammonia emissions.
Ekkono Solutions
Venture Round in 2022
Ekkono Solutions AB, based in Tvååker, Sweden, specializes in machine learning solutions tailored for the Internet of Things (IoT). The company has developed an embedded advanced analytics engine that performs various machine learning techniques directly on connected devices. This technology encompasses the entire workflow, from data input and model training to execution, re-training, and output. Ekkono's solutions are applicable across diverse industries, including energy, telecommunications, automotive, agriculture, healthcare, and housing automation, as well as in consumer IoT applications such as home security systems and smart appliances. By enabling devices to learn their normal operating states, Ekkono's technology facilitates anomaly detection, performance optimization, and predictive maintenance. This edge-based approach allows real-time data processing, minimizing network load by transmitting only relevant information to the cloud. As a result, connected devices become more autonomous and intelligent, enhancing their functionality while reducing dependence on network quality.
Ekkono Solutions
Grant in 2022
Ekkono Solutions AB, based in Tvååker, Sweden, specializes in machine learning solutions tailored for the Internet of Things (IoT). The company has developed an embedded advanced analytics engine that performs various machine learning techniques directly on connected devices. This technology encompasses the entire workflow, from data input and model training to execution, re-training, and output. Ekkono's solutions are applicable across diverse industries, including energy, telecommunications, automotive, agriculture, healthcare, and housing automation, as well as in consumer IoT applications such as home security systems and smart appliances. By enabling devices to learn their normal operating states, Ekkono's technology facilitates anomaly detection, performance optimization, and predictive maintenance. This edge-based approach allows real-time data processing, minimizing network load by transmitting only relevant information to the cloud. As a result, connected devices become more autonomous and intelligent, enhancing their functionality while reducing dependence on network quality.
AcouSort
Grant in 2022
AcouSort is a Swedish company specializing in the development and sale of laboratory products and integrated solutions that utilize ultrasound technology for the separation, washing, and enrichment of biological samples. Its offerings cater to researchers and life science companies, focusing on the automated preparation of samples such as blood cells, bacteria, and extracellular vesicles. The technology is rooted in acoustofluidics research from the esteemed group led by Professor Thomas Laurell at Lund University's Department of Biomedical Engineering. Key products include AcouTrap, AcouWash, and AcouPlasma, which facilitate efficient handling of microscopic particles in microfluidic channels for research and diagnostic applications.
Quanturi Oy
Venture Round in 2022
Quanturi Oy is a Finnish company founded in 2016 and headquartered in Espoo, specializing in continuous monitoring solutions for fermentable products. The company develops and markets connected objects and systems for data analysis, focusing on agricultural, forestry, and waste management sectors. Its product offerings include wireless monitoring systems for compost temperature, grain management, hay monitoring, and other industrial temperature applications. Quanturi Oy also sells its products online and has expanded its presence to several countries, including France, Great Britain, the Netherlands, Switzerland, Italy, and Belgium.
Quanturi Oy
Grant in 2022
Quanturi Oy is a Finnish company founded in 2016 and headquartered in Espoo, specializing in continuous monitoring solutions for fermentable products. The company develops and markets connected objects and systems for data analysis, focusing on agricultural, forestry, and waste management sectors. Its product offerings include wireless monitoring systems for compost temperature, grain management, hay monitoring, and other industrial temperature applications. Quanturi Oy also sells its products online and has expanded its presence to several countries, including France, Great Britain, the Netherlands, Switzerland, Italy, and Belgium.
Oivi
Grant in 2022
Oivi is a company that specializes in developing an affordable AI-powered camera and platform for identifying diabetic eye diseases. Founded in 2017 and headquartered in Oslo, Norway, Oivi's technology enables retinal screening in primary care settings, helping to raise awareness and support the maintenance of eye health for individuals with diabetes. The platform features automated image capture and diagnostics, allowing for effective monitoring of eye conditions through teleconsultation. With a diverse team skilled in camera and software development, Oivi aims to facilitate early detection and prevention of diabetes-related vision loss, ultimately contributing to improved patient outcomes.
Reliefed Technologies
Grant in 2022
Reliefed Technologies AB, based in Varberg, Sweden, specializes in producing 3D printing components for various industries, including transportation, building materials, consumer products, and energy applications. The company has developed a globally patented 3D-production method known as z.trusion®, which allows for 3D mass production on conventional 2D production lines. This innovative technology significantly reduces energy consumption and costs, particularly in the new energy sector, offering up to 97% less energy usage and ten times faster production speeds in the manufacturing of components like bipolar flow plates for fuel cells and electrolyzers. Reliefed Technologies holds 44 patents worldwide, enabling enhanced performance and efficiency in products such as lithium-ion batteries and thermal management systems for electric vehicles. The company collaborates with major multinational original equipment manufacturers (OEMs) and Tier 1 suppliers to implement its technology in industrial settings, driving advancements in energy solutions and sustainable manufacturing practices.
Abzu
Grant in 2022
Abzu is a scientific artificial intelligence company founded in January 2018, with offices in Copenhagen, Denmark, and Barcelona, Spain. The company develops the QLattice, an innovative AI platform that aims to challenge conventional black box AI by providing transparent and explainable models. Abzu's technology is designed to assist pharmaceutical and biotech companies in accelerating drug development processes. By unlocking new disease mechanisms, discovering novel biomarkers, and validating multiple targets simultaneously, Abzu enables these companies to reduce research and development costs and enhance their discovery capabilities. Through its pioneering approach, Abzu inspires data scientists to adopt a more scientific methodology in their work.
Reliefed Technologies
Venture Round in 2022
Reliefed Technologies AB, based in Varberg, Sweden, specializes in producing 3D printing components for various industries, including transportation, building materials, consumer products, and energy applications. The company has developed a globally patented 3D-production method known as z.trusion®, which allows for 3D mass production on conventional 2D production lines. This innovative technology significantly reduces energy consumption and costs, particularly in the new energy sector, offering up to 97% less energy usage and ten times faster production speeds in the manufacturing of components like bipolar flow plates for fuel cells and electrolyzers. Reliefed Technologies holds 44 patents worldwide, enabling enhanced performance and efficiency in products such as lithium-ion batteries and thermal management systems for electric vehicles. The company collaborates with major multinational original equipment manufacturers (OEMs) and Tier 1 suppliers to implement its technology in industrial settings, driving advancements in energy solutions and sustainable manufacturing practices.
Evoy
Grant in 2022
Evoy is a Norwegian manufacturer of electric propulsion systems, established in 2018 and located in Florø, Sogn og Fjordane. The company specializes in producing inboard and outboard electric motors designed to replace traditional diesel and gasoline systems in speedboats. By doing so, Evoy enables boat owners to significantly reduce maintenance and operational costs while eliminating noise, smell, and pollution associated with conventional engines. The electric motors are engineered to provide strong performance and responsiveness, catering to the needs of ferry and tour operators who aim to meet sustainability goals and comply with environmental regulations.
Evoy
Venture Round in 2022
Evoy is a Norwegian manufacturer of electric propulsion systems, established in 2018 and located in Florø, Sogn og Fjordane. The company specializes in producing inboard and outboard electric motors designed to replace traditional diesel and gasoline systems in speedboats. By doing so, Evoy enables boat owners to significantly reduce maintenance and operational costs while eliminating noise, smell, and pollution associated with conventional engines. The electric motors are engineered to provide strong performance and responsiveness, catering to the needs of ferry and tour operators who aim to meet sustainability goals and comply with environmental regulations.
TILT Biotherapeutics
Grant in 2022
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.
Carbo Culture
Grant in 2022
Carbo Culture Oy, founded in 2016 and based in Helsinki, Finland, specializes in producing biochar from waste biomass by employing a carbon sequestration process that captures carbon dioxide from the atmosphere. The company transforms orchard waste into high-quality biochar using patented reactors, which serves various applications, including soil enhancement and contamination remediation. This biochar helps improve soil health by retaining water and nutrients, while also supporting beneficial microorganisms. Additionally, Carbo Culture's innovative approach generates renewable energy and contributes to the creation of significant carbon credits, promoting sustainable practices in agriculture and construction.
Seaborg
Grant in 2022
Seaborg Technologies ApS, founded in 2014 and based in Copenhagen, Denmark, develops advanced thorium-based molten salt reactors (MSR) to generate nuclear energy. The company focuses on creating clean energy solutions with low manufacturing costs, effectively addressing future energy demands. Seaborg's compact MSRs are designed to be safer, environmentally friendly, and more economical than traditional fossil fuels. In addition to energy production, the company is working on waste burners that convert transuranic elements into green energy and offers software tools that provide computational assistance to other MSR developers. Through its innovative approach, Seaborg aims to bridge conventional nuclear technology with modern solutions based on the thorium fuel cycle.
Surgify
Venture Round in 2022
Surgify is engaged in the development of an innovative technology aimed at enhancing bone surgery outcomes. This technology focuses on protecting proximal soft structures during surgical procedures, thereby minimizing the risk of complications such as bleeding, infections, and nerve injuries. By collaborating closely with the Neurosurgical Department of Helsinki University Central Hospital, Surgify ensures that its solutions are informed by the needs of clinicians. The company is currently preparing to commercialize its technology, with support from the Finnish Funding Agency for Innovation. Through its advancements, Surgify aims to reduce patient suffering and improve overall quality of life for individuals undergoing bone surgery.
Surgify
Grant in 2022
Surgify is engaged in the development of an innovative technology aimed at enhancing bone surgery outcomes. This technology focuses on protecting proximal soft structures during surgical procedures, thereby minimizing the risk of complications such as bleeding, infections, and nerve injuries. By collaborating closely with the Neurosurgical Department of Helsinki University Central Hospital, Surgify ensures that its solutions are informed by the needs of clinicians. The company is currently preparing to commercialize its technology, with support from the Finnish Funding Agency for Innovation. Through its advancements, Surgify aims to reduce patient suffering and improve overall quality of life for individuals undergoing bone surgery.
Ocean Oasis
Grant in 2022
Ocean Oasis is a Norwegian company founded in 2020, focused on creating sustainable solutions for fresh water production through wave power. The company has developed an innovative desalination platform that harnesses the energy of ocean waves to provide desalinated water to coastal areas without the need for electricity generation. This environmentally friendly approach eliminates emissions, offering a cleaner alternative to traditional diesel-powered desalination methods. By leveraging Norway's expertise in offshore technology, Ocean Oasis aims to deliver fresh water efficiently and flexibly, contributing to global decarbonization efforts and addressing the growing demand for sustainable water resources.
Kaffe Bueno
Grant in 2021
Kaffe Bueno ApS is a Danish company established in 2016 that specializes in upcycling coffee waste to create ingredients for cosmetics, functional foods, and nutraceuticals. Utilizing proprietary biotechnology and green chemistry, Kaffe Bueno transforms spent coffee grounds into valuable products such as coffee oils, coffee flour, and coffee beans. The company's mission is to maximize the usability of coffee by-products while minimizing harmful emissions, thereby redefining the perception of coffee from merely a beverage to a potent source of health benefits. Kaffe Bueno caters to a diverse range of clients, including industrial coffee producers, cafes, hotels, and offices, enabling them to contribute to sustainable practices through the upcycling of coffee waste.
Comptek Solutions
Venture Round in 2021
Comptek Solutions Oy, founded in 2017 and based in Turku, Finland, specializes in developing advanced surface engineering technology known as Kontrox. This quantum-level process is designed to create defect-free surfaces for compound semiconductor devices, addressing the critical issues of oxidation that lead to performance limitations in products like MicroLEDs, lasers, and power electronics. By improving the crystalline quality of III-V-based semiconductors, Kontrox technology significantly enhances device performance, achieving notable improvements such as a 250% increase in efficiency and a 90-fold reduction in power consumption. Comptek Solutions has applications across various sectors, including optoelectronics and radio frequency technologies. The company has gained recognition for its innovative approach, receiving a Horizon2020 SME phase I grant from the EU in 2018 and being shortlisted as a top semiconductor spinoff in the inaugural Spinoff Prize competition by Nature Research in 2020.
Edvince
Grant in 2021
Edvince AB is a biotechnology company based in Lund, Sweden, founded in 2003. The company specializes in developing innovative treatments aimed at minimizing brain damage caused by strokes. Its therapeutic approach is rooted in the extensive research conducted by Professor Lars Edvinsson. Edvince's focus is on creating a new acute stroke therapy that addresses the underlying factors and symptoms associated with strokes, thereby enhancing patient outcomes and reducing the risk of brain injuries during such medical emergencies.
DigiFarm
Grant in 2021
DigiFarm is an ag-tech startup based in Hamar, Norway, founded in 2019. The company specializes in developing artificial intelligence and machine learning solutions tailored to the needs of Norwegian farmers, with a focus on optimizing grain production. DigiFarm's platform utilizes deep neural network models informed by high-resolution Sentinel-2 imagery, providing farmers with a crop classification model that integrates extensive yield data and statistical analyses. This comprehensive approach allows farmers to monitor crop growth effectively and make informed, data-driven decisions to enhance their agricultural practices.
Comptek Solutions
Grant in 2021
Comptek Solutions Oy, founded in 2017 and based in Turku, Finland, specializes in developing advanced surface engineering technology known as Kontrox. This quantum-level process is designed to create defect-free surfaces for compound semiconductor devices, addressing the critical issues of oxidation that lead to performance limitations in products like MicroLEDs, lasers, and power electronics. By improving the crystalline quality of III-V-based semiconductors, Kontrox technology significantly enhances device performance, achieving notable improvements such as a 250% increase in efficiency and a 90-fold reduction in power consumption. Comptek Solutions has applications across various sectors, including optoelectronics and radio frequency technologies. The company has gained recognition for its innovative approach, receiving a Horizon2020 SME phase I grant from the EU in 2018 and being shortlisted as a top semiconductor spinoff in the inaugural Spinoff Prize competition by Nature Research in 2020.
Heart Aerospace
Series A in 2021
Heart Aerospace AB, founded in 2018 and headquartered in Gothenburg, Sweden, with an additional location in Palo Alto, California, focuses on developing an electric regional airliner aimed at enhancing sustainable transportation for regional travel. The company's flagship aircraft, the ES-19, is designed to accommodate nineteen passengers and boasts an operational range of 400 kilometers. Heart Aerospace seeks to significantly reduce fuel and maintenance costs compared to traditional aircraft while achieving zero operational emissions. The innovative design allows for a low infrastructural footprint, facilitating the use of small airports located near city centers. Heart's objective is to secure certification for the ES-19 for commercial operations by 2026, aligning with its mission to provide affordable and environmentally friendly travel options across the globe.
Handiscover
Seed Round in 2021
Handiscover Sweden AB, founded in 2014 and based in Malmö, Sweden, operates an online booking platform focused on holiday accommodations for individuals with physical disabilities. This pioneering service features a unique classification system that allows users to filter options based on their specific mobility needs. Handiscover aims to simplify the process of finding accessible vacation rentals, catering to the diverse requirements of its users. Additionally, the platform assists companies and municipalities in gathering and presenting specialized accessibility data, ensuring that individuals with disabilities can easily discover and book suitable accommodations for their travels.
N2 Applied
Venture Round in 2021
N2 Applied is a Norwegian technology company focused on revolutionizing fertilizer production for farmers. Operating from its headquarters in Oslo/Asker and with a test center in Svene, Norway, along with branches in the Netherlands and the UK, N2 Applied has developed an innovative technology that allows for the local production of fertilizer using liquid organic substrates like slurry or digestate, combined with air and electricity. This process enhances nitrogen content while preventing ammonia loss and reducing emissions, thus promoting a more sustainable farming approach. By utilizing plasma reactors, the company enables farmers to recycle livestock manure into environmentally friendly fertilizer, lowering production costs and increasing crop yields. N2 Applied's scalable solution aims to streamline the fertilizer supply chain, minimizing reliance on fossil fuel-based chemical fertilizers and contributing to on-farm reductions in methane and ammonia emissions.
Sparrow Quantum
Non Equity Assistance in 2021
Sparrow Quantum Aps. is a Danish company specializing in quantum technology, particularly in the development of advanced light-matter interfaces. The firm focuses on creating deterministic single-photon sources, which are essential for various quantum technologies. Sparrow Quantum boasts the highest efficiency for on-chip single-photon sources globally, characterized by exceptional photon purity, indistinguishability, and outcoupling capabilities. This cutting-edge technology is rooted in over twenty years of research at the renowned Niels Bohr Institute in Copenhagen, from which the company holds exclusive licenses for key patents. By leveraging self-assembled quantum dots paired with slow-light photonic-crystal waveguides, Sparrow Quantum enhances light-matter interactions, providing critical advancements for its clients in the field of photonic quantum technology.
MedTrace Pharma
Venture Round in 2021
MedTrace Pharma A/S, founded in 2015 and headquartered in Kongens Lyngby, Denmark, specializes in medical technology focused on improving positron emission tomography (PET) imaging. The company has developed an automated system, known as MT-100, which facilitates the bedside production and infusion of radioactive water, specifically 15O-water, into patients during PET scans. This innovative approach enhances the sensitivity of imaging results and significantly increases patient throughput. Complementing the MT-100 system is aQuant, an analytical software platform designed to interpret the PET scan data generated from the use of 15O-water. With additional offices in Boston, Massachusetts, and Uppsala, Sweden, MedTrace Pharma aims to advance clinical practices in diagnostic imaging through its cutting-edge technology.
Carbo Culture
Seed Round in 2021
Carbo Culture Oy, founded in 2016 and based in Helsinki, Finland, specializes in producing biochar from waste biomass by employing a carbon sequestration process that captures carbon dioxide from the atmosphere. The company transforms orchard waste into high-quality biochar using patented reactors, which serves various applications, including soil enhancement and contamination remediation. This biochar helps improve soil health by retaining water and nutrients, while also supporting beneficial microorganisms. Additionally, Carbo Culture's innovative approach generates renewable energy and contributes to the creation of significant carbon credits, promoting sustainable practices in agriculture and construction.
Gleechi
Venture Round in 2021
Gleechi AB, established in 2014 and headquartered in Stockholm, Sweden, specializes in developing software solutions that facilitate natural interaction between humans, computers, and robots. Their core technology revolves around advanced computer vision and machine learning algorithms, enabling real-time, free, and natural hand interactions in games, virtual reality, and robotics. Gleechi's innovative software allows for the creation of realistic hand movements and interactions, making it possible for users to learn by doing in virtual environments. The company has been recognized for its achievements, including being named Super Startup of the Year by Veckans Affärer and ALMI Invest, winning the EIT Digital Idea Challenge, and being awarded Startup of the Year by STING.
NIL Technology ApS
Venture Round in 2021
NIL Technology ApS specializes in the optical design, prototyping, mastering, and mass production of optical components. The company provides nanostructured masters for various replication technologies, including nanoimprint, UV-replication, hot embossing, roll printing, and injection molding. Its product offerings support a wide range of applications, such as diffractive optics, microlens arrays, metalenses, optical diffusers, beam splitters, waveguides for augmented and mixed reality, wire grid polarizers, structured light systems, and anti-reflection coatings. NIL Technology also develops tailored solutions for industries including biotechnology, space, consumer product packaging, and renewable energy. Established in 2006, the company is headquartered in Kongens Lyngby, Denmark, with an additional branch located in Gothenburg, Sweden.
CrayoNano
Grant in 2020
CrayoNano, founded in 2012 and headquartered in Trondheim, Norway, specializes in the development and manufacturing of nanomaterials-based semiconductor components. The company utilizes proprietary technologies to create innovative light-emitting diodes (LEDs) that produce ultraviolet light. These diodes feature patented vertically aligned nano-wires on graphene, which enhance internal quantum efficiency, operating lifetime, and reliability, particularly for ultraviolet applications. CrayoNano's advancements contribute to a variety of global solutions in health and safety, water purification, and both consumer and industrial applications, aligning with its commitment to fostering more sustainable and healthier lives.
Mode Sensors
Venture Round in 2020
Mode Sensors AS is a digital healthcare company based in Trondheim, Norway, established in 2016. It specializes in developing advanced wearable technology for real-time hydration monitoring, which is essential in various sectors, including healthcare, defense, and workforce safety. The company's flagship product, Re:Balans®, offers continuous and non-invasive tracking of fluid balance, allowing for early intervention in hydration-related issues. By integrating with existing remote patient monitoring systems, Mode Sensors supports a range of applications in hospitals, elderly care, military settings, and high-performance work environments. With a commitment to innovation and user-friendly design, Mode Sensors aims to enhance well-being and performance through effective hydration management.
Mode Sensors
Grant in 2020
Mode Sensors AS is a digital healthcare company based in Trondheim, Norway, established in 2016. It specializes in developing advanced wearable technology for real-time hydration monitoring, which is essential in various sectors, including healthcare, defense, and workforce safety. The company's flagship product, Re:Balans®, offers continuous and non-invasive tracking of fluid balance, allowing for early intervention in hydration-related issues. By integrating with existing remote patient monitoring systems, Mode Sensors supports a range of applications in hospitals, elderly care, military settings, and high-performance work environments. With a commitment to innovation and user-friendly design, Mode Sensors aims to enhance well-being and performance through effective hydration management.
Heart Aerospace
Grant in 2020
Heart Aerospace AB, founded in 2018 and headquartered in Gothenburg, Sweden, with an additional location in Palo Alto, California, focuses on developing an electric regional airliner aimed at enhancing sustainable transportation for regional travel. The company's flagship aircraft, the ES-19, is designed to accommodate nineteen passengers and boasts an operational range of 400 kilometers. Heart Aerospace seeks to significantly reduce fuel and maintenance costs compared to traditional aircraft while achieving zero operational emissions. The innovative design allows for a low infrastructural footprint, facilitating the use of small airports located near city centers. Heart's objective is to secure certification for the ES-19 for commercial operations by 2026, aligning with its mission to provide affordable and environmentally friendly travel options across the globe.
CrayoNano
Series A in 2020
CrayoNano, founded in 2012 and headquartered in Trondheim, Norway, specializes in the development and manufacturing of nanomaterials-based semiconductor components. The company utilizes proprietary technologies to create innovative light-emitting diodes (LEDs) that produce ultraviolet light. These diodes feature patented vertically aligned nano-wires on graphene, which enhance internal quantum efficiency, operating lifetime, and reliability, particularly for ultraviolet applications. CrayoNano's advancements contribute to a variety of global solutions in health and safety, water purification, and both consumer and industrial applications, aligning with its commitment to fostering more sustainable and healthier lives.
Electrochaea
Venture Round in 2020
Electrochaea GmbH is a company based in Planegg, Germany, specializing in the development and commercialization of grid-scale power-to-gas energy storage technology. Founded in 2010, Electrochaea's proprietary process converts low-cost and stranded electricity, along with carbon dioxide, into renewable natural gas, specifically methane, which is suitable for direct injection into the existing natural gas grid. This technology facilitates the storage of large quantities of renewable energy generated from wind and solar sources, providing solutions for utility-scale energy storage, grid balancing, and carbon recycling. Additionally, the company aims to contribute to the decarbonization of transportation and natural gas grids, thereby reducing greenhouse gas emissions. With operational facilities in Denmark and California, Electrochaea represents a significant advancement in the efficient storage and transmission of renewable energy.
IQM Quantum Computers
Venture Round in 2020
IQM Quantum Computers, founded in 2018 and headquartered in Espoo, Finland, specializes in developing and manufacturing hardware systems for quantum computing. The company focuses on scalable hardware solutions utilizing superconducting technology to build quantum processors for universal quantum computers. By concentrating on practical applications, IQM aims to enhance quantum computing capabilities and address challenges faced by various industries and society. As a spin-out from Aalto University and the VTT Technical Research Centre of Finland, IQM has achieved significant advancements in areas such as thermal management, which are crucial for improving computational speed and information accuracy. The company's innovations position it as a leader in the global pursuit of large-scale quantum computing solutions. IQM also offers access to its hardware for research laboratories and supercomputing centers, helping businesses reduce error rates that currently limit computing performance.
Faron Pharmaceuticals
Grant in 2020
Faron Pharmaceuticals Oy is a clinical-stage biopharmaceutical company based in Turku, Finland, focused on developing innovative treatments for medical conditions with significant unmet needs. The company's pipeline includes drug candidates targeting acute trauma, cancer growth, and inflammatory diseases. Its lead product, Traumakine, is a recombinant human interferon beta-1a currently undergoing Phase III clinical trials for the treatment of acute respiratory distress syndrome (ARDS). Another significant candidate, Clevegen, is an immunotherapy designed to inhibit tumor growth and metastasis by targeting the tumor immune suppressor molecule. Additionally, Faron is developing D-ARDS, a diagnostic tool for assessing ARDS severity and monitoring patient outcomes. Established in 2003, Faron Pharmaceuticals collaborates with the MediCity unit at Turku University Medical School to further its research and development efforts.
Ilya Pharma
Grant in 2020
Ilya Pharma AB, established in 2016 and headquartered in Uppsala, Sweden, specializes in the development of biological drugs for treating skin and mucosal wounds. The company's innovative approach involves genetically modifying lactic acid bacteria, commonly found in yogurt, to produce substances that accelerate wound healing. Ilya Pharma focuses on both acute and chronic wounds, with a particular emphasis on addressing the unique challenges faced by diabetic patients. The company's work is grounded in extensive scientific research conducted at Uppsala University and the Swedish University of Agriculture.
Ilya Pharma
Venture Round in 2020
Ilya Pharma AB, established in 2016 and headquartered in Uppsala, Sweden, specializes in the development of biological drugs for treating skin and mucosal wounds. The company's innovative approach involves genetically modifying lactic acid bacteria, commonly found in yogurt, to produce substances that accelerate wound healing. Ilya Pharma focuses on both acute and chronic wounds, with a particular emphasis on addressing the unique challenges faced by diabetic patients. The company's work is grounded in extensive scientific research conducted at Uppsala University and the Swedish University of Agriculture.
Evoy
Grant in 2020
Evoy is a Norwegian manufacturer of electric propulsion systems, established in 2018 and located in Florø, Sogn og Fjordane. The company specializes in producing inboard and outboard electric motors designed to replace traditional diesel and gasoline systems in speedboats. By doing so, Evoy enables boat owners to significantly reduce maintenance and operational costs while eliminating noise, smell, and pollution associated with conventional engines. The electric motors are engineered to provide strong performance and responsiveness, catering to the needs of ferry and tour operators who aim to meet sustainability goals and comply with environmental regulations.
Evoy
Venture Round in 2020
Evoy is a Norwegian manufacturer of electric propulsion systems, established in 2018 and located in Florø, Sogn og Fjordane. The company specializes in producing inboard and outboard electric motors designed to replace traditional diesel and gasoline systems in speedboats. By doing so, Evoy enables boat owners to significantly reduce maintenance and operational costs while eliminating noise, smell, and pollution associated with conventional engines. The electric motors are engineered to provide strong performance and responsiveness, catering to the needs of ferry and tour operators who aim to meet sustainability goals and comply with environmental regulations.
Electrochaea
Grant in 2020
Electrochaea GmbH is a company based in Planegg, Germany, specializing in the development and commercialization of grid-scale power-to-gas energy storage technology. Founded in 2010, Electrochaea's proprietary process converts low-cost and stranded electricity, along with carbon dioxide, into renewable natural gas, specifically methane, which is suitable for direct injection into the existing natural gas grid. This technology facilitates the storage of large quantities of renewable energy generated from wind and solar sources, providing solutions for utility-scale energy storage, grid balancing, and carbon recycling. Additionally, the company aims to contribute to the decarbonization of transportation and natural gas grids, thereby reducing greenhouse gas emissions. With operational facilities in Denmark and California, Electrochaea represents a significant advancement in the efficient storage and transmission of renewable energy.
Handiscover
Grant in 2020
Handiscover Sweden AB, founded in 2014 and based in Malmö, Sweden, operates an online booking platform focused on holiday accommodations for individuals with physical disabilities. This pioneering service features a unique classification system that allows users to filter options based on their specific mobility needs. Handiscover aims to simplify the process of finding accessible vacation rentals, catering to the diverse requirements of its users. Additionally, the platform assists companies and municipalities in gathering and presenting specialized accessibility data, ensuring that individuals with disabilities can easily discover and book suitable accommodations for their travels.
Neuro Event Labs
Series A in 2020
Neuro Event Labs Oy is a Finnish medical technology company founded in 2015 and based in Tampere. The company specializes in developing artificial intelligence-powered software that monitors epilepsy patients both at home and in clinical settings. Its primary product collects and analyzes accurate data on epilepsy seizures through the use of video and various sensors, leveraging computer vision, smart analytics, and machine learning. This data is relayed to healthcare providers, allowing them to make informed treatment decisions tailored to individual patients. The solution has been crafted in collaboration with leading hospitals in Finland, enhancing its reliability and effectiveness in managing epilepsy care.
IQM Quantum Computers
Grant in 2020
IQM Quantum Computers, founded in 2018 and headquartered in Espoo, Finland, specializes in developing and manufacturing hardware systems for quantum computing. The company focuses on scalable hardware solutions utilizing superconducting technology to build quantum processors for universal quantum computers. By concentrating on practical applications, IQM aims to enhance quantum computing capabilities and address challenges faced by various industries and society. As a spin-out from Aalto University and the VTT Technical Research Centre of Finland, IQM has achieved significant advancements in areas such as thermal management, which are crucial for improving computational speed and information accuracy. The company's innovations position it as a leader in the global pursuit of large-scale quantum computing solutions. IQM also offers access to its hardware for research laboratories and supercomputing centers, helping businesses reduce error rates that currently limit computing performance.
Modvion
Grant in 2020
Modvion AB, founded in 2015 and based in Gothenburg, Sweden, specializes in the design and development of modular wind power towers constructed from renewable composite materials. The company's innovative modular technology simplifies construction logistics by facilitating transportation and installation of towers over 120 meters tall. This approach not only reduces costs associated with traditional steel tower construction but also enhances efficiency in harnessing wind energy. By leveraging engineered wood products, Modvion aims to improve the economic viability of wind power investments for power plant construction businesses, ultimately contributing to a more sustainable energy landscape.
Faron Pharmaceuticals
Post in 2020
Faron Pharmaceuticals Oy is a clinical-stage biopharmaceutical company based in Turku, Finland, focused on developing innovative treatments for medical conditions with significant unmet needs. The company's pipeline includes drug candidates targeting acute trauma, cancer growth, and inflammatory diseases. Its lead product, Traumakine, is a recombinant human interferon beta-1a currently undergoing Phase III clinical trials for the treatment of acute respiratory distress syndrome (ARDS). Another significant candidate, Clevegen, is an immunotherapy designed to inhibit tumor growth and metastasis by targeting the tumor immune suppressor molecule. Additionally, Faron is developing D-ARDS, a diagnostic tool for assessing ARDS severity and monitoring patient outcomes. Established in 2003, Faron Pharmaceuticals collaborates with the MediCity unit at Turku University Medical School to further its research and development efforts.
Neuro Event Labs
Grant in 2020
Neuro Event Labs Oy is a Finnish medical technology company founded in 2015 and based in Tampere. The company specializes in developing artificial intelligence-powered software that monitors epilepsy patients both at home and in clinical settings. Its primary product collects and analyzes accurate data on epilepsy seizures through the use of video and various sensors, leveraging computer vision, smart analytics, and machine learning. This data is relayed to healthcare providers, allowing them to make informed treatment decisions tailored to individual patients. The solution has been crafted in collaboration with leading hospitals in Finland, enhancing its reliability and effectiveness in managing epilepsy care.
MedTrace Pharma
Grant in 2020
MedTrace Pharma A/S, founded in 2015 and headquartered in Kongens Lyngby, Denmark, specializes in medical technology focused on improving positron emission tomography (PET) imaging. The company has developed an automated system, known as MT-100, which facilitates the bedside production and infusion of radioactive water, specifically 15O-water, into patients during PET scans. This innovative approach enhances the sensitivity of imaging results and significantly increases patient throughput. Complementing the MT-100 system is aQuant, an analytical software platform designed to interpret the PET scan data generated from the use of 15O-water. With additional offices in Boston, Massachusetts, and Uppsala, Sweden, MedTrace Pharma aims to advance clinical practices in diagnostic imaging through its cutting-edge technology.
Modvion
Venture Round in 2020
Modvion AB, founded in 2015 and based in Gothenburg, Sweden, specializes in the design and development of modular wind power towers constructed from renewable composite materials. The company's innovative modular technology simplifies construction logistics by facilitating transportation and installation of towers over 120 meters tall. This approach not only reduces costs associated with traditional steel tower construction but also enhances efficiency in harnessing wind energy. By leveraging engineered wood products, Modvion aims to improve the economic viability of wind power investments for power plant construction businesses, ultimately contributing to a more sustainable energy landscape.
Oivi
Grant in 2020
Oivi is a company that specializes in developing an affordable AI-powered camera and platform for identifying diabetic eye diseases. Founded in 2017 and headquartered in Oslo, Norway, Oivi's technology enables retinal screening in primary care settings, helping to raise awareness and support the maintenance of eye health for individuals with diabetes. The platform features automated image capture and diagnostics, allowing for effective monitoring of eye conditions through teleconsultation. With a diverse team skilled in camera and software development, Oivi aims to facilitate early detection and prevention of diabetes-related vision loss, ultimately contributing to improved patient outcomes.
Gleechi
Grant in 2020
Gleechi AB, established in 2014 and headquartered in Stockholm, Sweden, specializes in developing software solutions that facilitate natural interaction between humans, computers, and robots. Their core technology revolves around advanced computer vision and machine learning algorithms, enabling real-time, free, and natural hand interactions in games, virtual reality, and robotics. Gleechi's innovative software allows for the creation of realistic hand movements and interactions, making it possible for users to learn by doing in virtual environments. The company has been recognized for its achievements, including being named Super Startup of the Year by Veckans Affärer and ALMI Invest, winning the EIT Digital Idea Challenge, and being awarded Startup of the Year by STING.
NIL Technology ApS
Grant in 2019
NIL Technology ApS specializes in the optical design, prototyping, mastering, and mass production of optical components. The company provides nanostructured masters for various replication technologies, including nanoimprint, UV-replication, hot embossing, roll printing, and injection molding. Its product offerings support a wide range of applications, such as diffractive optics, microlens arrays, metalenses, optical diffusers, beam splitters, waveguides for augmented and mixed reality, wire grid polarizers, structured light systems, and anti-reflection coatings. NIL Technology also develops tailored solutions for industries including biotechnology, space, consumer product packaging, and renewable energy. Established in 2006, the company is headquartered in Kongens Lyngby, Denmark, with an additional branch located in Gothenburg, Sweden.
NIL Technology ApS
Venture Round in 2019
NIL Technology ApS specializes in the optical design, prototyping, mastering, and mass production of optical components. The company provides nanostructured masters for various replication technologies, including nanoimprint, UV-replication, hot embossing, roll printing, and injection molding. Its product offerings support a wide range of applications, such as diffractive optics, microlens arrays, metalenses, optical diffusers, beam splitters, waveguides for augmented and mixed reality, wire grid polarizers, structured light systems, and anti-reflection coatings. NIL Technology also develops tailored solutions for industries including biotechnology, space, consumer product packaging, and renewable energy. Established in 2006, the company is headquartered in Kongens Lyngby, Denmark, with an additional branch located in Gothenburg, Sweden.
Colzyx
Venture Round in 2019
Colzyx AB is a biotechnology company based in Lund, Sweden, specializing in innovative wound care solutions. Established in 2012, the company focuses on developing bioactive wound dressings that leverage groundbreaking research from the Medical Faculty at Lund University. Colzyx's products utilize the alpha-3 chain from human collagen VI, which has shown remarkable wound healing and antimicrobial properties. By harnessing powerful biological regeneration mechanisms, these dressings not only accelerate the healing process for both active and chronic wounds but also provide protection against a wide range of bacteria, including multidrug-resistant strains. This approach aims to enhance patient outcomes by promoting rapid wound closure and minimizing the risk of bacterial infections.
Colzyx
Grant in 2019
Colzyx AB is a biotechnology company based in Lund, Sweden, specializing in innovative wound care solutions. Established in 2012, the company focuses on developing bioactive wound dressings that leverage groundbreaking research from the Medical Faculty at Lund University. Colzyx's products utilize the alpha-3 chain from human collagen VI, which has shown remarkable wound healing and antimicrobial properties. By harnessing powerful biological regeneration mechanisms, these dressings not only accelerate the healing process for both active and chronic wounds but also provide protection against a wide range of bacteria, including multidrug-resistant strains. This approach aims to enhance patient outcomes by promoting rapid wound closure and minimizing the risk of bacterial infections.
Aiforia
Grant in 2019
Aiforia Technologies, founded in 2013 as a spin-off from the Finnish Institute for Molecular Medicine at the University of Helsinki, specializes in cloud-based microscopy and pathology. The company offers the Aiforia® Platform, which combines deep learning artificial intelligence with high-performance cloud computing to enhance image-based diagnostics. Aiforia's solutions aim to increase efficiency and scalability in medical image analysis, supporting pathologists and scientists in both preclinical and clinical settings. By providing highly accurate and consistent data, Aiforia facilitates new discoveries and clinical decision-making across various disciplines, including oncology and neuroscience. The platform's image-agnostic capabilities allow it to extend its applications beyond traditional boundaries, positioning Aiforia as a leader in advancing medical imaging technology.
SSH Communications Security
Grant in 2019
SSH Communications Security Oyj specializes in enterprise cybersecurity solutions aimed at helping organizations, particularly in the financial sector, manage and secure access to critical data, applications, and services globally. Founded in 1995 by Tatu Ylönen, who developed the widely adopted Secure Shell protocol, the company offers a range of products, including PrivX for access management in multi-cloud environments, Universal SSH Key Manager for managing SSH keys and certificates, Tectia SSH for secure file transfers and remote administration, and NQX Firewall for high-security applications. With a customer base exceeding 3,000 worldwide, SSH Communications Security focuses on providing security, compliance, and operational efficiency in complex enterprise environments. The company operates through direct sales and online channels, deriving a significant portion of its revenue from Finland while serving clients across various regions, including the Americas, Asia-Pacific, Europe, and the Middle East.
RePack
Grant in 2019
RePack is a company based in Helsinki, Finland, that specializes in manufacturing reusable and recyclable packaging solutions for online retailers and shoppers. Founded in 2013, RePack offers durable packaging bags made from materials such as polypropylene, polyethylene, and cardboard, which can be conveniently returned for recycling. The innovative system encourages customers to participate in sustainability efforts by rewarding them with vouchers for future purchases when they return the packaging. This model not only enhances the customer experience but also aims to reduce waste and carbon emissions. RePack's packaging is designed to be folded into a letter-sized format for easy return via local postal systems, making it a practical option for eCommerce businesses looking to demonstrate their commitment to sustainability.
Imaqen
Grant in 2018
Imaqen Ltd. is a Finnish healthcare technology company developing a new pre-screening solution for early detection of cancer. The innovation offers a non-invasive patient examination and it is suitable for use in wide range of healthcare facilities. The utilised method is protected by patents. Their team consists of experienced diagnostic imaging and clinical research professionals with solid track records in successful product development and global sales and marketing.
Valtavalo
Grant in 2018
Valtavalo Ltd, founded in 2008, specializes in the development, manufacture, and supply of energy-efficient LED lighting solutions in Finland and internationally. As the largest LED tube manufacturer in the Northern Countries, Valtavalo focuses on high-volume production and large clients, allowing the company to offer competitive pricing on advanced lighting technologies that were previously considered too costly. Their product line features long-lifetime LED lighting tubes with replaceable light sources, which significantly reduce energy consumption and lower both installation and maintenance costs for users.
Medicortex Finland Oyj
Grant in 2018
Medicortex Finland is focused on developing a non-invasive, point-of-care diagnostic test for Traumatic Brain Injury (TBI) and concussions. Traditional diagnostic methods, such as CT and MRI scans, struggle to accurately diagnose mild TBIs. To address this, Medicortex is identifying brain injury biomarkers that can be detected from urine and saliva, with plans to incorporate these biomarkers into a hand-held diagnostic kit that provides rapid and reliable results without the need for medical professionals' interpretation. The company aims to collaborate with larger diagnostic firms for manufacturing and distribution. Its target customers include hospitals, emergency rooms, paramedics, military personnel, sports teams, pharmaceutical companies, and insurance providers. Medicortex has achieved significant milestones, including reaching Phase II clinical studies for its biomarker and receiving grant funding from the US Department of Defense, the European Union, and the Finnish Government.
TILT Biotherapeutics
TILT Biotherapeutics Ltd is a preclinical stage biotechnology company based in Helsinki, Finland, specializing in the development of genetically modified oncolytic viruses aimed at enhancing cancer treatments. The company's patented technology focuses on using these viruses to improve tumor T-cell therapies, including tumor-infiltrating lymphocyte (TIL) and chimeric antigen receptor (CAR-T) therapies, as well as checkpoint inhibitors. TILT Biotherapeutics is recognized as a leader in the global market for integrating oncolytic viruses with cancer immunotherapy. Their product pipeline includes TILT-123, TILT-234, and TILT-321, which are designed to modify the tumor microenvironment and counteract its suppression of immune responses. The innovative approach has the potential to replicate the successes seen in CAR-T therapy for solid tumors, similar to those achieved in hematological cancers.
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