Tallinn-based Leil Storage has secured €1.5 million in seed funding led by Karma Ventures, with participation from Specialist VC, to democratize access to hyperscale storage infrastructure. Founded in 2022 by engineers Aleksandr Ragel and David Gerstein, Leil develops HDD-native software that makes shingled magnetic recording (SMR) drives practical for enterprise-scale deployments—delivering up to 20% more […] Read more ›
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Copenhagen-based BOOST Pharma has secured €3 million (SEK 34 million) in new funding from Sound Bioventures, which joins existing backers Industrifonden and Karolinska Development. The financing will accelerate clinical progress of BT-101, the company’s pioneering mesenchymal stem-cell therapy for osteogenesis imperfecta (OI) — a rare genetic disorder known as brittle bone disease that affects infants […] Read more ›
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Stockholm-based embedded finance company Froda and UK-based AI finance platform Triffin have formed a partnership to make up to £100 million in data-driven working capital available to UK consumer brands over the next three years. The agreement integrates Froda’s embedded financing technology directly into Triffin’s AI-driven finance operations system, which automates key business tasks such […] Read more ›
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Helsinki-based behavioral data startup Behavix has entered a long-term strategic partnership with Syno International, a global panel ecosystem operator, to bring behavioral intelligence to the forefront of market research. Behavix, which captures and analyzes digital behavior across devices via a privacy-first SDK, will integrate its AI-powered metering, profiling, and fraud detection tools directly into Syno’s […] Read more ›
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Finnish deep-tech startup Agate Sensors has entered its first defence collaboration through an innovation contract with Sweden’s Defence Materiel Administration (FMV) under its Military Innovation Program. Agate Sensors, a spin-out from Aalto University, develops ultra-miniaturised hyperspectral sensors that provide biochemical and physiological insights far beyond what conventional wearables can detect. Through this partnership, the company […] Read more ›
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Danish impact startup Contribe has raised an additional $500,000 in an extension of its pre-seed round, bringing total funding to $1.5 million. Backed by Rockstart, Human Act Development, and Better Future Fund, the company develops software that allows online stores to integrate charitable donations into the checkout process. The approach aims to align consumer purchasing […] Read more ›
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Copenhagen-based Evertrace has acquired Berlin startup Morphais to expand its data capabilities in identifying early-stage founders. Evertrace develops infrastructure that aggregates signals from sources like company registries, patents, and GitHub to help investors detect emerging entrepreneurs. Morphais applies quantitative and behavioural data models to surface high-potential founders and startups for VCs, corporates, and angels. The […] Read more ›
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Stockholm-based Legora has raised $150 million in Series C funding aat a $1.8 billion valuation, making it the latest legaltech unicorn. The round was led by Bessemer Venture Partners with participation from ICONIQ, General Catalyst, Redpoint Ventures, Benchmark, and Y Combinator. The company develops an AI platform used by law firms and in-house legal teams […] Read more ›
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Reykjavik-based AI planning software company PLAIO has formed a strategic partnership with Sikich to advance data-driven supply chain capabilities for pharmaceutical manufacturers. For PLAIO, the partnership extends its reach into established enterprise environments, where integration and scalability are key barriers to modernisation. Together, the two companies aim to enable life sciences clients to unify planning […] Read more ›
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Copenhagen-based Formalize has raised €30 million in Series B funding to expand its compliance software across Europe. The round was co-led by Acton Capital and BlackFin Tech, with participation from West Hill Capital and CIBC Innovation Banking. Formalize develops a governance, risk, and compliance platform that helps small and mid-sized enterprises manage evolving EU regulations […] Read more ›
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Finnish industrial technology company SpinDrive has raised growth funding led by Rhapsody Venture Partners and Innovestor to expand its presence in the United States and launch a new product line. The company develops active magnetic bearing (AMB) systems that use magnetic levitation instead of mechanical contact to reduce friction and eliminate the need for oil-based […] Read more ›
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Stockholm-based AI startup Grasp has raised $7 million in Series A funding, led by Octopus Ventures with participation from Yanno Capital, to support its international growth and product development. Founded in 2020 by former McKinsey consultants Richard Karlsson and Johan Devér, and former Ericsson AI engineer Simon Hällqvist, the company builds multi-agent AI systems designed […] Read more ›
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Riga-based Desktop Commander has raised €1.1 million in pre-seed funding led by 42CAP, with participation from BADideas Fund. The company develops an open-source tool that allows artificial intelligence to interact directly with a user’s computer through the Model Context Protocol (MCP), enabling it to manage files, operate the terminal, and execute code based on plain […] Read more ›
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Lund-based Lithea AB has raised €852K (SEK 9.3 million) in a directed share issue from existing investors to continue the preclinical development of its lead candidate, LIT1001. The company is developing a localised drug delivery system designed to release chemotherapy directly into tumours, initially targeting osteosarcoma, a rare bone cancer that mainly affects children. The […] Read more ›
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Swedish biotech company Cellcolabs has secured $12 million in funding from Titian Capital’s life sciences arm, bringing its total raised capital to $37 million. Cellcolabs develops large-scale production methods for Mesenchymal Stem Cells (MSCs) used in medical research and clinical applications. The company plans to use the new funds to advance its technical capabilities and […] Read more ›
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Finnish bio-based materials company Innomost has named Niko Mellanen as its new Chief Sales Officer. The company develops bio-based alternatives from upcycled birch bark, aiming to replace certain fossil-based components in coatings and packaging. Mellanen has more than 20 years of experience in the paper, board, and packaging sectors, including positions at Stora Enso and […] Read more ›
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Oslo-based Riff, formerly Databutton, has raised $16 nillion in a Series A led by Northzone, bringing its total funding to $21 million. The vibe coding platform helps business teams build and launch production-ready AI applications using starter apps, templates, and expert guidance, aiming to tackle the high failure rate of enterprise AI initiatives. Existing investors […] Read more ›
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The Nordics continue to defy expectations. While much has been written about the challenges facing the welfare state across the region, we often overlook one of its most powerful by-products: a deeply ingrained culture of learning and scientific curiosity. These systems, though frequently criticised, have created an environment where those who want to explore, question, […] Read more ›
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Lund-based deeptech startup Cytely has raised €3 million in a round led by Ugly Duckling Ventures, with participation from existing investor Icebreaker.vc, to expand access to its smart-microscopy platform. Cytely turns ordinary microscopes into real-time data engines, eliminating manual bottlenecks and allowing labs to generate statistically powered results in minutes instead of months. Already adopted […] Read more ›
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Tallinn-based Yaga, the pre-loved fashion marketplace, has raised €4 million in a pre-Series A round led by Specialist VC, with support from H&M Group Ventures, Trind Ventures, Startup Wise Guys, and a network of angel investors. Yaga enables users to buy and sell second-hand fashion through a secure, app-based platform that combines escrow-protected payments with […] Read more ›
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Ars Technica
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05.12.2025 06:26
Last update: 06:20 EDT.
News rating updated: 13:22.
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