InnovationsKapital

Founded in 1994, InnovationsKapital is a leading independent venture capital firm focused on innovative growth companies in the Nordic region. Based in Stockholm and Gothenburg with an additional office in New York, the company invests primarily in dynamic ICT and Healthcare & Life Sciences sectors.

Staffan Ingeborn

Managing Investment Director

Past deals in Nordic Europe

Silecs International

Series E in 2011
Silecs International is a developer and manufacturer of electronic and optical materials specifically designed for the microelectronics industry, including applications in semiconductors, image sensors, and displays. Founded in 2000 and headquartered in Mountain View, California, the company provides materials solutions that seamlessly integrate with standard device manufacturing processes. Silecs' products cater to a wide range of applications, such as low-temperature dielectric layers, CMOS sensors, electro-optic devices, and TFT-LCD displays. The company maintains a manufacturing and research facility in Espoo, Finland, and has operational centers across Asia, the United States, and Europe, ensuring local and regional customer support.

Paxport

Venture Round in 2011
Paxport is a global provider of Merchandising Distribution Systems (MDS), specializing in the integration of merchandising expertise with content distribution and packaging technology. Following its acquisition of Multicom in 2016, Paxport has established itself as a leader in delivering comprehensive travel solutions. The company has built a strong reputation in the Nordics and Benelux regions over the past two decades. Paxport operates its technology center in Bristol, UK, while maintaining its merchandising center in Stockholm, Sweden, ensuring a robust infrastructure to support its extensive service offerings.

Action Pharma

Series C in 2010
Action Pharma A/S is a biotechnology company focused on research and development of innovative drug candidates aimed at treating cardiovascular, inflammatory, and metabolic diseases. Founded in 2000 and based in Holte, Denmark, the company specializes in discovering and developing new treatment concepts, particularly those targeting melanocortin receptors. Its product pipeline includes AP214, a modified peptide analogue for preventing post-surgical kidney injury related to cardiac surgeries, as well as the AP1030 and AP11 series, which are oral anti-diabetic medications designed for patients with type-II diabetes who are overweight or obese. Additionally, Action Pharma is developing AP1189, an oral anti-inflammatory compound for conditions like inflammatory bowel disease and rheumatoid arthritis, and AP405, which targets inflammatory skin diseases such as atopic dermatitis. The company's efforts are geared toward achieving clinical proof of concept for its drug candidates, facilitating partnerships for further development and commercialization.

Hexaformer

Venture Round in 2009
Hexaformer is a Swedish company established in 2004 that specializes in the manufacturing of closed symmetrical delta-shaped transformer cores, which are integral to creating efficient transformers and reactors. The company's innovative technology is designed to enhance energy distribution by significantly reducing transmission losses and material usage, while also offering lower weight and increased robustness. These unique "green" properties have attracted substantial interest from various sectors. Hexaformer produces its products in Västervik, Sweden, and also licenses its technology to manufacturers worldwide, thereby extending its impact on the energy distribution industry. The company is backed by a mix of venture capital firms and private investors.

Silecs International

Venture Round in 2009
Silecs International is a developer and manufacturer of electronic and optical materials specifically designed for the microelectronics industry, including applications in semiconductors, image sensors, and displays. Founded in 2000 and headquartered in Mountain View, California, the company provides materials solutions that seamlessly integrate with standard device manufacturing processes. Silecs' products cater to a wide range of applications, such as low-temperature dielectric layers, CMOS sensors, electro-optic devices, and TFT-LCD displays. The company maintains a manufacturing and research facility in Espoo, Finland, and has operational centers across Asia, the United States, and Europe, ensuring local and regional customer support.

Apptus

Venture Round in 2007
Apptus Technologies AB, established in 2000 and headquartered in Lund, Sweden, specializes in providing solutions for online retailers to develop, manage, and optimize their merchandising strategies. The company's flagship product, Apptus eSales, is a unified search and merchandising platform that integrates with existing e-commerce systems. It facilitates real-time collection and analysis of customer behavior data, enabling retailers to display relevant products and customer propositions. Key features include personalized product recommendations, optimized search functionality, automated promotional content testing, and basket recovery solutions. Apptus also offers custom integration, support, hosting, training, and optimization consulting services. Its clients span various sectors such as books and media, electronics, DIY, fashion, beauty and healthcare, and B2B retailers globally. The platform leverages big data, predictive analysis, and real-time decisioning to deliver tailored product assortments and marketing campaigns, enhancing customer experiences and driving sales performance.

BONESUPPORT

Venture Round in 2006
BONESUPPORT AB is a medical technology company based in Lund, Sweden, specializing in the development of injectable bioceramic bone graft substitutes aimed at treating fractures and bone voids resulting from trauma, infection, disease, or surgery. Founded in 1999, the company offers a range of products, including CERAMENT BONE VOID FILLER, CERAMENT G, and CERAMENT V. These products are designed to address various medical conditions such as chronic osteomyelitis and infected diabetic foot ulcers. CERAMENT G and CERAMENT V are antibiotic-eluting bone graft substitutes that enhance bone healing, utilizing gentamicin and vancomycin, respectively. BONESUPPORT operates additional locations in Frankfurt, Zurich, London, Boston, and Haryana, India, and is committed to improving the quality of life for patients with bone disorders through innovative biomaterial solutions.

Action Pharma

Series A in 2006
Action Pharma A/S is a biotechnology company focused on research and development of innovative drug candidates aimed at treating cardiovascular, inflammatory, and metabolic diseases. Founded in 2000 and based in Holte, Denmark, the company specializes in discovering and developing new treatment concepts, particularly those targeting melanocortin receptors. Its product pipeline includes AP214, a modified peptide analogue for preventing post-surgical kidney injury related to cardiac surgeries, as well as the AP1030 and AP11 series, which are oral anti-diabetic medications designed for patients with type-II diabetes who are overweight or obese. Additionally, Action Pharma is developing AP1189, an oral anti-inflammatory compound for conditions like inflammatory bowel disease and rheumatoid arthritis, and AP405, which targets inflammatory skin diseases such as atopic dermatitis. The company's efforts are geared toward achieving clinical proof of concept for its drug candidates, facilitating partnerships for further development and commercialization.

Resistentia Pharmaceuticals

Series C in 2006
Resistentia Pharmaceuticals, a biopharmaceutical company, develops immunotherapeutic products for allergic asthma and inflammatory disorders. It provides Immunoglobulin E for allergic reactions, including asthma, rhinitis, and dermatitis; and C5a for the treatment of inflammatory conditions, such as rheumatoid arthritis, asthma, and multiple sclerosis. Resistentia Pharmaceuticals AB was founded in 1998 and is based in Uppsala, Sweden.

BONESUPPORT

Venture Round in 2006
BONESUPPORT AB is a medical technology company based in Lund, Sweden, specializing in the development of injectable bioceramic bone graft substitutes aimed at treating fractures and bone voids resulting from trauma, infection, disease, or surgery. Founded in 1999, the company offers a range of products, including CERAMENT BONE VOID FILLER, CERAMENT G, and CERAMENT V. These products are designed to address various medical conditions such as chronic osteomyelitis and infected diabetic foot ulcers. CERAMENT G and CERAMENT V are antibiotic-eluting bone graft substitutes that enhance bone healing, utilizing gentamicin and vancomycin, respectively. BONESUPPORT operates additional locations in Frankfurt, Zurich, London, Boston, and Haryana, India, and is committed to improving the quality of life for patients with bone disorders through innovative biomaterial solutions.

Ipsat Therapies

Venture Round in 2006
Ipsat Therapies, a biotechnology company, develops intestinal protection systems in antibiotic treatment. It focuses on the development of products for the prevention of antibiotic resistance, antibiotic-associated diarrhea, and hospital associated infections. The company offers bioengineered enzyme, which removes the excess unabsorbed harmful antibiotic in intestine and maintains a normal intestinal microflora. It also develops various antibiotics, including penicillin, cephalosporin, carbapenems, and fixed combination products. Ipsat Therapies Oy was founded in 1999 and is based in Helsinki, Finland.

Cellartis

Venture Round in 2005
Cellartis AB is a Swedish/British biotechnology company focused on pluripotent stem cells and technology for drug discovery research, toxicity testing and regenerative medicine Since 2001, Cellartis has worked globally with industry and academia, platform providers and end users to develop the next generation of advanced stem cell products and technologies. The company leverages a deep experience in stem cell handling, scale up and differentiation into mature and functional human cells. The company was first in the world to bring to the market human embryonic stem (hES) cell-derived hepatocytes and cardiomyocytes for use as drug discovery tools today.

NordNav Technologies

Series A in 2005
NordNav Technologies is a Stockholm-based company specializing in the development of software GPS receivers designed for mobile and automotive applications. The company focuses on creating innovative solutions for global navigation satellite systems, catering to the growing demand for precise location services in various sectors. By leveraging advanced technology, NordNav aims to enhance the functionality and efficiency of navigation systems, positioning itself as a key player in the GPS receiver market.

Taktio

Series A in 2005
As of December 11, 2008 Taktio ApS went out of business. Taktio ApS develops and supplies man machine interfaces internationally. The company offers technology for high resolution and touch screen applications. Its products are used in mobile handset displays, computer monitors, windows, and glass walls. Taktio ApS was formerly known as O-pen ApS. The company was founded in 2003 and is based in Copenhagen, Denmark.

Silecs International

Venture Round in 2004
Silecs International is a developer and manufacturer of electronic and optical materials specifically designed for the microelectronics industry, including applications in semiconductors, image sensors, and displays. Founded in 2000 and headquartered in Mountain View, California, the company provides materials solutions that seamlessly integrate with standard device manufacturing processes. Silecs' products cater to a wide range of applications, such as low-temperature dielectric layers, CMOS sensors, electro-optic devices, and TFT-LCD displays. The company maintains a manufacturing and research facility in Espoo, Finland, and has operational centers across Asia, the United States, and Europe, ensuring local and regional customer support.

Appium Technologies

Venture Round in 2004
Appium is one of the leading vendors of next generation telecommunication application platforms and applications for the converging IT and Telecom market. To enable its business Appium delivers the leading telecom application platform and service creation environment for the OSA/Parlay market (www.parlay.org). Appium complements its service creation and deployment platforms offering with a range of commercially available applications and application components together with deployment and business models for addressing the enterprise as well as consumer market segments. Appium works in a standard Independent Software Vendor (ISV) business model. Appium addresses its offerings to Network Operators, Service Providers, Application Developers and, as the market evolves, Enterprises. Appium was founded in 1992, with head offices in Malmoe, Sweden, and originally provided professional services and solutions in the areas of Intelligent Networks, Mobile Systems, NGN and services. In 2000, the company decided to exploit the opportunities arising from the OSA/Parlay standards and was re-oriented to be a product company.
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