Atea ASA is a prominent supplier of IT infrastructure and related solutions in the Nordic and Baltic regions, serving businesses and public sector organizations. Established in 1968 and headquartered in Oslo, Norway, Atea operates in 72 cities across Norway, Sweden, Denmark, Finland, Lithuania, Latvia, and Estonia. The company offers a comprehensive range of hardware and software solutions for data storage, management, and security, as well as tools for virtualization and automation in data centers. Atea also provides network solutions, communication management services, and collaboration products to enhance digital productivity. With a workforce of approximately 4,600 employees, including around 2,500 consultants and 6,500 technology certifications, Atea is well-equipped to deliver IT products from leading vendors and assist clients with specialized IT infrastructure services.
Vestas is a leading company in the wind energy sector, dedicated exclusively to harnessing the power of wind to create sustainable energy solutions. With over 38,000 wind turbines installed across 63 countries, Vestas contributes significantly to the global energy landscape, aiming to enhance locally produced energy and generate jobs. The company installs an average of one wind turbine every three hours, reflecting its commitment to increasing the share of wind power in the world’s electricity production. By 2020, Vestas anticipated that wind energy would account for 10% of global electricity generation, and it continues to work towards expanding this figure. Additionally, Vestas Ventures serves as the corporate venture capital arm of the company, focusing on accelerating sustainable energy deployment and exploring new growth opportunities through strategic investments. Through these efforts, Vestas aims to lead the transition to a cleaner energy future.
Sensible 4 is a Finnish technology company specializing in autonomous driving solutions that address the challenges posed by varying weather conditions. The company has developed a full-stack autonomous driving software capable of transforming any vehicle into a self-driving unit, utilizing data from multiple sensors to ensure safe operation in adverse weather, such as snowfall and fog. In 2022, Sensible 4 plans to launch its first commercial all-weather software product, Dawn, designed for SAE level 4 driverless last-mile shuttles. The company's innovative technology enables seamless operation without the need for lane markings, facilitating autonomous transportation for goods and people, including industrial transport and delivery vehicles. Founded by pioneers in autonomous vehicle development, Sensible 4 has received recognition for its advancements, notably winning the Dubai World Challenge for Self-Driving Transport in 2019.
IQM Finland Oy is a company that specializes in the development and manufacturing of hardware systems for quantum computing. Founded in 2018 and headquartered in Espoo, Finland, IQM focuses on creating scalable quantum processors based on superconducting technology. The company aims to advance quantum computing capabilities, facilitating solutions that can benefit both industry and society. As a spin-out from Aalto University and the VTT Technical Research Centre of Finland, IQM has made significant strides in areas such as thermal management, which enhances computational speed and information accuracy. These innovations establish IQM as a key player in the global movement towards practical, large-scale quantum computing solutions.
Essity AB is a global hygiene and health company that develops, produces, and sells a wide range of personal care, consumer tissue, and professional hygiene products. Its offerings include incontinence products, baby care items, feminine hygiene products, and various wound care solutions. The company also provides consumer tissue products such as toilet paper and facial tissues, alongside professional hygiene solutions like hand soaps, sanitizers, and cleaning products. Essity markets its products under several well-known brands, including TENA, Tork, Libero, and Zewa. With a presence in approximately 150 countries, the company generates a significant portion of its revenue from the European market. Founded in 1849 and headquartered in Stockholm, Sweden, Essity is committed to sustainability and improving well-being through its essential products and solutions.
Varjo Technologies develops headset capable of both virtual and augmented reality. It uses that phrase with two meanings in mind. For one thing, the company’s headset offers resolution in the center of the screen that is good enough to hide individual pixels. But the headset’s display also mimics how human vision works in general. The high-density displays occupies the center of the field of view in headset, and surrounds by lower-resolution displays at the left and right edges. The company was founded in 2016 and is headquartered in Helsinki, Finland.
SATO Oyj provides rental apartments and services in Finland and Russia. The company opertes in the Helsinki, Tampere, Turku, Oulu, Jyväskylä, and St. Petersburg. As of December 31, 2019, it owned a total of 26,074 apartments. The company is also involved in property development activities; and the provision of construction and renovation services. SATO Oyj is headquartered in Helsinki, Finland. SATO Oyj operates as a subsidiary of Balder Finska Otas Ab.
Ørsted is a leading energy company based in Denmark, focused on developing, constructing, and operating offshore and onshore wind farms, bioenergy plants, and waste-to-energy solutions. The company aims to create a world that runs entirely on green energy. Since its transformation from DONG Energy a decade ago, Ørsted has significantly reduced coal consumption by 73% and plans to phase out coal entirely by 2023. It has established itself as a global leader in offshore wind energy, holding a 25% market share and providing power to approximately 9.5 million people. Additionally, Ørsted Wind Power Tw Holding A/S, a subsidiary of Ørsted, is involved in financing offshore wind projects in Taiwan through bond issuance.
Area9 Lyceum ApS, based in Copenhagen, Denmark, specializes in developing personalized and adaptive online learning modules for a diverse audience, including schoolchildren, students, and professionals. Founded in 2017, the company focuses on delivering education through digital platforms, utilizing advanced technology to enhance the learning experience. Area9 Lyceum is part of a larger group that encompasses two primary business areas: Learning Technology and High-Technology Computer Science. The latter aids companies in optimizing human value through solutions for call centers, legacy systems migration, and process optimization. By integrating cloud-based technology, Area9 Lyceum offers a comprehensive platform that supports content delivery and personalized training, thus significantly reducing development time and facilitating efficient learning processes.
On Robot manufactures robot equipment for automation tasks throughout the industry. It provides plug and produce end-of-arm tools and software solutions that help manufacturers take full advantage of the benefits of collaborative robots. The company integrates grippers, sensors, and other cobot equipment to facilitate the use of technology in applications such as packaging, quality testing, material handling, machine tending, assembly, and welding. On Robot was founded in 2015 and is based in Odense, Denmark.
Nilar International AB is a Swedish company specializing in the development and manufacture of advanced nickel metal hydride (NiMH) battery modules and energy storage systems. Founded in 2000 and headquartered in Täby, Sweden, with additional facilities in Gävle and Denver, Nilar focuses on providing solutions for various applications, including traction, industrial use, heavy-duty hybrid vehicles, and smart grid systems. Their innovative battery technology is designed to address the growing demands of energy providers, telecom companies, and commercial property owners, particularly in the context of renewable energy integration and grid stabilization. Nilar's products are characterized by their environmental safety and competitive lifecycle costs, positioning the company as a key player in the transition from fossil fuels to renewable energy sources in both North America and Europe.
MariaDB Corporation Ab develops and delivers an open source relational database designed for database administrators and application developers. The company offers MariaDB Enterprise, an enterprise-grade database solution that includes features such as backup and recovery, support, and monitoring. This subscription-based service supports organizations using MariaDB and MySQL in production environments. In addition to its core offerings, MariaDB provides a variety of services including architecture planning, database migration, performance tuning, and training. The company has a significant presence in the cloud, operating in major public clouds and Linux distributions, and serves a diverse range of clients, including many Fortune 500 companies. Founded in 2010 and headquartered in Espoo, Finland, with additional offices in California, MariaDB is supported by the MariaDB Foundation, which promotes continuity and collaboration in the MariaDB ecosystem.
Developer of a medical platform intended to deliver clinical decision support for remote care of heart patients with pacemakers. The company's platform leverages machine learning and ethnography to monitor cardiac devices remotely and uses advanced analytics to predict health conditions, enabling chronic patients with digital healthcare that monitors implanted cardiac devices.
Private Equity Round in 2019
On Robot manufactures robot equipment for automation tasks throughout the industry. It provides plug and produce end-of-arm tools and software solutions that help manufacturers take full advantage of the benefits of collaborative robots. The company integrates grippers, sensors, and other cobot equipment to facilitate the use of technology in applications such as packaging, quality testing, material handling, machine tending, assembly, and welding. On Robot was founded in 2015 and is based in Odense, Denmark.
Clavister is one of Europe’s leading cybersecurity vendors, headquartered in Sweden, with over 20 years of experience. It has customers — communication service providers, governments, enterprises and managed security service providers (MSSP)—in over 150 countries and it provides unique security solutions in order for them to protect their digital assets and secure business continuity. The Clavister portfolio ranges from Identity Access Management (IAM) solutions and end-point to security software to network security products—both physical and virtualized for the cloud. The company is listed on the Swedish stock exchange Nasdaq First North under the ticker symbol CLAV.
Acast AB, based in Stockholm, Sweden, operates a data-driven platform that focuses on podcasting and voice technology. Established in 2014, Acast serves as a marketplace that connects audio creators with financial resources to produce high-quality content while reaching their desired audience. The company collaborates with a diverse range of podcasts, including popular shows like My Dad Wrote a Porno and The Adam Buxton Podcast, as well as content from renowned publishers such as the Times, the Economist, and Vogue. With a global presence that includes offices from Stockholm to Sydney, Acast employs a dedicated team of audio enthusiasts committed to fostering a sustainable ecosystem for the audio industry and supporting its ongoing growth.
Northvolt AB, founded in 2016 and based in Stockholm, Sweden, specializes in the manufacture of sustainable lithium-ion batteries tailored for various sectors, including automotive, grid, industrial, portable, and micromobility markets. The company focuses on developing eco-friendly battery solutions that feature a minimal carbon footprint and incorporate advanced recycling technologies. Northvolt provides a range of products, including battery cells, custom cells, and complete battery systems, all designed to support clean energy initiatives and facilitate the electrification of transport. By emphasizing research and development, as well as industrialization, Northvolt aims to establish a reliable supply of sustainable battery cells and systems, enabling industries to transition from fossil fuels to electric alternatives efficiently.
Mobidiag Oy, operating as Mobidiag Ltd., is a biotechnology company focused on developing molecular diagnostic assays for identifying pathogenic microbes responsible for severe infections. Founded in 2001 and based in Espoo, Finland, with additional offices in France, the United Kingdom, and Sweden, Mobidiag offers a range of products, including Amplidiag assays for gastrointestinal infections and Prove-it diagnostics for various infections such as osteoarticular infections and sepsis. Their Amplidiag Bacterial GE test identifies bacterial pathogens in gastroenteritis cases without pre-culturing, while the Amplidiag CarbaR+MCR detects carbapenemase-producing organisms and colistin resistance. The Prove-it line includes platforms and systems designed for efficient detection and analysis of microarrays, as well as software for automated result interpretation. Utilizing established qPCR and microarray technologies, Mobidiag provides reliable and cost-effective testing solutions that cater to laboratories of all sizes, addressing gastrointestinal infections, antimicrobial resistance, and healthcare-associated infections, among others.
Nightingale Health is a global health tech company transforming preventive care. We envisage a world that focuses on keeping people healthy rather than just treating illnesses. With our pioneering blood-testing services, we provide deep health insights and can measure the effects of lifestyle interventions that are invisible in standard lab tests. The deep knowledge fuels scientific discoveries, industry developments, and encourages people to make positive lifestyle changes that take their health forward.
ORBITAL SYSTEMS is an award-winning clean-tech startup in Malmö, Sweden. Founder and CEO, Mehrdad Mahdjoubi, developed the world's most advanced shower system allowing up to 90% water savings and 80% energy savings while increasing comfort and hygiene. Inspired by an academic cooperation project with NASA, the company was launched under the mentorship of Skype’s Founder Niklas Zennström, and is today in a fast-growth stage.
Mobidiag Oy, operating as Mobidiag Ltd., is a biotechnology company focused on developing molecular diagnostic assays for identifying pathogenic microbes responsible for severe infections. Founded in 2001 and based in Espoo, Finland, with additional offices in France, the United Kingdom, and Sweden, Mobidiag offers a range of products, including Amplidiag assays for gastrointestinal infections and Prove-it diagnostics for various infections such as osteoarticular infections and sepsis. Their Amplidiag Bacterial GE test identifies bacterial pathogens in gastroenteritis cases without pre-culturing, while the Amplidiag CarbaR+MCR detects carbapenemase-producing organisms and colistin resistance. The Prove-it line includes platforms and systems designed for efficient detection and analysis of microarrays, as well as software for automated result interpretation. Utilizing established qPCR and microarray technologies, Mobidiag provides reliable and cost-effective testing solutions that cater to laboratories of all sizes, addressing gastrointestinal infections, antimicrobial resistance, and healthcare-associated infections, among others.
Nokia is a Finnish multinational corporation that specializes in telecommunications and technology solutions. The company manufactures mobile devices, network infrastructure, and location-based technologies, operating globally with a focus on converging the internet and communications industries. Its diverse product and service portfolio includes mobile broadband solutions, network implementation, and advanced technologies. Nokia is organized into four main segments: mobile broadband, global services, HERE, and technologies. The mobile broadband segment provides essential hardware and software for mobile voice and data services, while the global services segment focuses on network care, planning, and optimization. The HERE segment develops location-based services and local commerce solutions, and the technologies segment is involved in intellectual property rights and technology licensing. With major manufacturing facilities located in several countries, including China and Finland, Nokia continues to play a significant role in the telecommunications sector, serving customers worldwide.
Spinnova Ltd. is a Finnish company based in Jyvaskyla, established in 2014. It specializes in researching and developing innovative fibre yarn technology that converts wood fibre into textile yarn. By utilizing a process that is both simple and environmentally friendly, Spinnova transforms cellulose into textile fibre without the use of harmful chemicals. This approach positions the company as a leader in sustainable textile production, aiming to disrupt traditional methods in the industry.
Ericsson, founded in 1876 and headquartered in Stockholm, Sweden, is a leading provider of technology and services to telecommunications operators. The company specializes in mobile technologies such as 2G, 3G, and 4G, and supports networks serving over 2 billion subscribers. Its extensive portfolio includes mobile and fixed network infrastructure, telecom services, software, broadband, and multimedia solutions for operators, enterprises, and the media industry. Ericsson also focuses on emerging technologies through its investment arm, Ericsson Ventures, which targets areas such as Internet of Things (IoT), artificial intelligence, and machine learning. The company operates in 175 countries and employs over 80,000 people, generating significant revenue from its diverse offerings. Through its innovation and sustainable business solutions, Ericsson aims to be a key player in the evolving communications landscape.
Northvolt AB, founded in 2016 and based in Stockholm, Sweden, specializes in the manufacture of sustainable lithium-ion batteries tailored for various sectors, including automotive, grid, industrial, portable, and micromobility markets. The company focuses on developing eco-friendly battery solutions that feature a minimal carbon footprint and incorporate advanced recycling technologies. Northvolt provides a range of products, including battery cells, custom cells, and complete battery systems, all designed to support clean energy initiatives and facilitate the electrification of transport. By emphasizing research and development, as well as industrialization, Northvolt aims to establish a reliable supply of sustainable battery cells and systems, enabling industries to transition from fossil fuels to electric alternatives efficiently.
Flexenclosure AB is an engineering firm based in Stockholm, Sweden, specializing in the design and manufacture of prefabricated modular data centers and intelligent power management solutions. The company's primary products include eCentre, a customizable data center that can be tailored for various operational needs, and eSite, a modular diesel-battery hybrid power system ideal for remote and unreliable power scenarios. Flexenclosure focuses on providing reliable, factory-built solutions that enhance flexibility for telecom operators worldwide, enabling them to expand and modernize their networks efficiently. The firm emphasizes the use of renewable energy, illustrating how such solutions can reduce operating costs while contributing to social development, particularly in underserved rural areas through initiatives like Community Power. Established in 1989, Flexenclosure operates globally with offices in multiple countries, serving notable clients in the telecommunications sector.
Nexus Holdings, Inc. is a Swedish-owned company that specializes in developing customized e-business portals and innovative identity and security solutions. The firm focuses on connecting legacy systems with new e-business capabilities, targeting Fortune 500 companies with comprehensive solutions. Their technology aims to protect e-commerce and internet banking, secure electronic services in the public sector, and manage physical and digital access. Nexus has been creating reliable identities for individuals, software, and devices since 1984, and their solutions are utilized by numerous organizations worldwide, serving around 100 million end users. With a workforce of approximately 300 employees across 15 offices in Europe, India, and the United States, Nexus has established a global network of partners to enhance its offerings in secure remote access, two-factor authentication, cloud security, and identity access management.
iZettle is reinventing technologies and banking services that help small-business owners live better, work less and earn more. Based in Stockholm, the financial technology company revolutionized mobile payments in 2010 with the world’s first mini chip card reader and software for mobile devices. Today, small-business owners around the world use iZettle’s powerfully simple services to improve the speed and ease of payments at checkout, business management, sales analytics, customer engagement, and funding
Nosto Solutions Oy specializes in e-commerce personalization solutions for online retailers worldwide. Founded in 2011 and headquartered in Helsinki, Finland, the company offers a platform-independent software-as-a-service (SaaS) solution that enables retailers to provide real-time personalized product recommendations throughout the shopping journey. Nosto's technology is designed to enhance the online shopping experience, making it accessible for businesses of all sizes. Their offerings include automated marketing tools such as onsite product recommendations, personalized emails, and targeted advertisements on platforms like Facebook and Instagram. Nosto has served notable clients, including brands like Angry Birds and Intersport, helping retailers increase conversion rates, customer retention, and overall store revenues. The company also has offices in key global markets, including New York, Los Angeles, Berlin, Stockholm, and London.
MariaDB Corporation Ab develops and delivers an open source relational database designed for database administrators and application developers. The company offers MariaDB Enterprise, an enterprise-grade database solution that includes features such as backup and recovery, support, and monitoring. This subscription-based service supports organizations using MariaDB and MySQL in production environments. In addition to its core offerings, MariaDB provides a variety of services including architecture planning, database migration, performance tuning, and training. The company has a significant presence in the cloud, operating in major public clouds and Linux distributions, and serves a diverse range of clients, including many Fortune 500 companies. Founded in 2010 and headquartered in Espoo, Finland, with additional offices in California, MariaDB is supported by the MariaDB Foundation, which promotes continuity and collaboration in the MariaDB ecosystem.
In a highly oversimplified sentence: Frosmo enables companies to modify any aspect of their online business, regardless of complexity. With our technological approach, you can develop your website faster than ever before. On a bigger scale, we can all agree the Internet has a big impact on humanity, in both our personal and professional lives. But to be frank, our online experiences aren’t always enjoyable. Companies struggle to keep up with modern web design principles and consumers’ shifting expectations, among other things. At Frosmo, our mission is to transform those experiences, and take the web to a whole new level, benefiting both businesses and consumers. We believe that together we can make the Internet a better place.
AW-Energy Oy designs, develops, and manufactures nearshore wave energy generation equipment in Finland and internationally. The company offers WaveRoller, a device that converts ocean wave energy to electricity. It also offers site studies and life cycle services. The company was founded in 2002 and is based in Vantaa, Finland.
Mobidiag Oy, operating as Mobidiag Ltd., is a biotechnology company focused on developing molecular diagnostic assays for identifying pathogenic microbes responsible for severe infections. Founded in 2001 and based in Espoo, Finland, with additional offices in France, the United Kingdom, and Sweden, Mobidiag offers a range of products, including Amplidiag assays for gastrointestinal infections and Prove-it diagnostics for various infections such as osteoarticular infections and sepsis. Their Amplidiag Bacterial GE test identifies bacterial pathogens in gastroenteritis cases without pre-culturing, while the Amplidiag CarbaR+MCR detects carbapenemase-producing organisms and colistin resistance. The Prove-it line includes platforms and systems designed for efficient detection and analysis of microarrays, as well as software for automated result interpretation. Utilizing established qPCR and microarray technologies, Mobidiag provides reliable and cost-effective testing solutions that cater to laboratories of all sizes, addressing gastrointestinal infections, antimicrobial resistance, and healthcare-associated infections, among others.
Enevo Oy develops the Enevo, an analytic software that collects and analyzes data points to measure waste and recycling generation. It provides a waste management analytics solution that uses ultrasonic sonar technology to detect fill levels for commercial clients, haulers, and cities. The company offers insights to clients handling waste contracts to streamline their waste management operations. It serves customers through resellers in the Netherlands, Belgium, Norway, and other countries in Europe. Enevo Oy was incorporated in 2010 and is headquartered in Espoo, Finland with additional offices in the United States, the United Kingdom, Germany, and Japan.
Canatu Oy specializes in the development and manufacture of transparent conductive films and touch sensors, primarily utilizing carbon nanobud (CNB) technology. Founded in 2004 and headquartered in Helsinki, Finland, the company offers a range of products, including CNB hi-contrast, flex, and in-mold films, as well as capacitive and resistive touch sensors tailored for medium-volume applications and prototyping. Canatu's solutions enable the integration of touch interfaces in various devices, such as mobile phones, tablets, wearables, and automotive applications, allowing for innovative 3D-shaped touch displays and smart switches. The company's products are sold directly to touch sensor and module vendors, as well as display manufacturers, for both out-of-cell and on-cell integration. Canatu maintains a global presence with additional offices in China, Japan, and the United States, and collaborates with various industries to drive technological innovation.
NewIcon Oy is a prominent health technology company established in 2007, specializing in automated medication dispensing systems for hospitals and retail pharmacies. As the leading provider of pharmacy automation solutions in Finland, NewIcon has successfully implemented its systems in over 100 pharmacies and hospitals across several countries, including Denmark, Russia, Israel, Iran, and China. The company employs around 70 individuals and has achieved a turnover exceeding € 7 million. By leveraging robotics and advanced software, NewIcon aims to enhance efficiency and safety in medication distribution, allowing healthcare professionals to concentrate on patient care. The organization adheres to a certified ISO 9001 quality management system, ensuring high standards in its operations.
Kiosked Ltd. operates an advertising automation platform that enhances publishers' content by creating advertising inventory directly within it. Founded in 2010 and headquartered in Espoo, Finland, Kiosked has expanded its presence with offices in nine countries, including major cities like London, New York, and Tokyo. The platform enables media buyers and brands to purchase inventory in real-time, addressing challenges related to ad viewability, relevancy, and performance. By transforming online content, images, videos, and applications into interactive ad placements, Kiosked provides new revenue streams for publishers while delivering measurable results for advertisers. Recognized as one of the leading technology companies in the industry, Kiosked is committed to evolving digital advertising through innovative programmatic solutions.
Kiosked Ltd. operates an advertising automation platform that enhances publishers' content by creating advertising inventory directly within it. Founded in 2010 and headquartered in Espoo, Finland, Kiosked has expanded its presence with offices in nine countries, including major cities like London, New York, and Tokyo. The platform enables media buyers and brands to purchase inventory in real-time, addressing challenges related to ad viewability, relevancy, and performance. By transforming online content, images, videos, and applications into interactive ad placements, Kiosked provides new revenue streams for publishers while delivering measurable results for advertisers. Recognized as one of the leading technology companies in the industry, Kiosked is committed to evolving digital advertising through innovative programmatic solutions.
Bavarian Nordic is a industrial biotechnology company developing and producing novel vaccines for the treatment and prevention of life-threatening diseases with a large unmet medical need. The company's business strategy is focused in three areas: biodefence, cancer and infectious diseases.
Rovio Entertainment Oyj, a games-first entertainment company, creates, develops, and publishes mobile games in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Games, Brand Licensing, and Other segments. The company offers various mobile games through mobile application stores; produces movies; and licenses the Angry Birds brand to consumer and entertainment products, as well as develops a cloud-based game service. It also provides physical merchandise, including toys and apparel, as well as location-based entertainment, such as activity parks; and books and comics, animated series, and digital products. Rovio Entertainment Oyj was founded in 2003 and is headquartered in Espoo, Finland.
Better Place was an electric vehicle services provider that focused on building and operating infrastructure to support the adoption of electric vehicles and optimize energy use. Established in 2007 by Shai Agassi and Quin Garcia, the company was headquartered in Palo Alto, California, and operated in several regions, including North America, Japan, Australia, China, Denmark, and Israel. Better Place developed an intelligent network that offered electric car drivers access to charging stations and battery switch stations, enhancing the overall driving experience. The company formed a strategic partnership with Renault to further its objectives. Despite its innovative approach to renewable energy-powered mobility, Better Place filed for bankruptcy in November 2013.