Nordic Angels newsletter
Nordic Angels
An initiative looking to unite the benefactors in the Nordic startup ecosystem to increase both bandwidth and leverage.
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You are reading edition #177?of the Nordic Angels newsletter with insights, trends and deals from the Nordic ecosystem.
TOP STORIES AROUND THE WORLD:
????????We are excited to launch Gina mot Miljarden – an engaging interview series featuring Gina Dirawi as she meets successful entrepreneurs and business leaders from Sweden and beyond. In the premiere episode, Gina sits down with acclaimed creator Josef Fares – an award-winning director and a pioneer in the gaming industry. Listen to the episode here.?
???? ?? Investing is not just about capital – it’s about expertise, perspective, and the ability to make sustainable long-term decisions. Women who invest play a crucial role in driving better investments and creating a more equal startup ecosystem.?Read our article?in Dagens Industri alongside leaders in equality and investing.
???? ???Europe is stepping up the fight for AI independence with Open Euro, an EU-funded open-source language model. The project is led by AI expert Peter Sarlin and involves key players such as AI Sweden, AMD, and Silo AI. The goal is to establish an independent AI infrastructure for European companies.
???? ???SoftBank plans to become the largest shareholder in OpenAI, through an investment of up to $40 billion. The parties, expected to form a strategic joint venture, are reportedly valuing OpenAI at $340 billion in the round.
???? ???In 2024, impact startups in the Nordics secured €650 million, a 25% increase from the previous year. Impact companies accounted for 55% of the region’s total venture capital of €1.18 billion, with the energy and climate sector leading at €347 million.?
???? ??The year 2024 marked a historic milestone for the EU's energy production, as solar power surpassed coal as an electricity source for the first time. Renewable energy accounted for 47% of the EU’s total electricity generation, while the share of fossil fuels declined to 29%.
???? ???An increasing number of countries are raising concerns about DeepSeek and its data storage, due to its ties to the Chinese government.?In Italy, the DeepSeek app has now been removed, after Italian authorities requested information on how the company handles user data.
???? Hybird Energy.?(Copenhagen, energy management with AI-powered electric panels): Has raised 2.4 MEUR?in a funding round led by Transition and BackingMinds, with founding?member Susanne Najafi.?2degrees, EIKON Capital, Notion Capital’s Pioneer Fund, Jeppe Rindom, and member Ekaterina Gianelli also participated. “Hybird’s technology has the potential to make a significant impact on our power grid – not ten years from now, but today,” comments Jasenko Hadzic, principal at Backing Minds.
?????NBH Snacks.?(Stockholm, premium kettle-fried chips with 30% more flavor): Has secured an investment from Patric blir ?ngel, with?member Patric Edhagen. “Time to challenge the industry giants with chips from ?rebro. Together with Najib and NBH Snacks, we’ll make sure people know what truly great chips taste like,” comments Patric.
In paid partnership with:
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?????F?hraeus Startup & Growth.?(Lund, a venture capital fund focused on life science and technology companies): Has secured 850 MSEK?for its new fund from the European Investment Fund and a group of undisclosed investors. The ambition is to become a leading player at the intersection of tech and life science. “Competition for investments is lower in this segment, allowing us to identify truly strong cases,” comments Linus Wiebe.
?????Capra Robotics.?(Viby, designs robots for logistics, inspection, and maintenance tasks): Has raised 11.3 MEUR in a funding round from Supernova Invest,?Promus Ventures,?Summiteer, and EIFO. "Few AMR companies have the vast experience and proven success as Niels and the Capra team within the robotics industry," comments Mike Collett, founder of?Promus Ventures.
?????Xaga Surgical.?(Helsingborg, develops advanced medical needles): Has raised 8 MSEK?in a funding round from Almi Invest, SmiLe Inject Capital, and private investors. “Over 50 million people are at risk of health problems linked to needlestick infections annually, with estimated costs of 80 billion dollars. Our technology is designed to address this need,” comments Andreas Forsvall, CEO of Xaga Surgical.
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?????Phenaros Pharmaceuticals.?(Uppsala, leverages?phenomics, automation, and AI for drug discovery and repurposing): Has raised 12 MSEK?in a funding round from Almi Invest, Nordic Science Invest, Monesi, and L?nsf?rs?kringar Uppsala. “This funding enables the next phase of our development, allowing us to accelerate our research and establish our technology as a new standard,” comments Ola Spjuth, CEO of Phenaros Pharmaceuticals.
?????RELEX Solutions.?(Helsinki, develops AI-driven supply chain and retail optimization software): Has secured a 10 MEUR credit facility from Nordea Bank. “This green revolving credit facility reflects not only our strong financial standing but also our unwavering commitment to sustainability,” comments Johanna Sm?ros, co-founder of RELEX Solutions.
?????Commit Biologics.?(Aarhus, develops therapies for cancer and autoimmune diseases): Has raised 5.5 MEUR in a financing extension from Korys, bringing its total funding to 21.5 million. "We remain hyper-focused on progressing our platform to the next stage of our development,” comments Dr Mikkel Wandahl Pedersen, CEO at Commit Biologics.
?????Avisomo.?(Oslo, designs?modular indoor farming systems): Has raised 5 MEUR?in a funding round and grant?from Innovation Norway. “Our technology seamlessly integrates into existing supply chains, eliminating the need for local expertise in farming, chemistry, or technical operations,” comments Martin Molenaar, CEO of Avisomo.
?????SportAI.?(Oslo, an AI-powered platform for racquet sports technique analysis): Has secured 805.000 USD in grants from Innovation Norway and the Eurostars Eureka Network. With this funding, SportAI plans to deepen its collaboration with MATCHi, a racquet sports booking platform, and partner with Amfitech ApS to enhance its computer vision models using sensor-based data.
?????Cephagenix. (Glostrup, develops a treatment for migraines): Has raised 9 MEUR?in a funding round from AdBio Partners and AbbVie Ventures. “I am thrilled to see Cephagenix’s anti-migraine program attracting interest from leading venture investors,” comments Jes Olesen.
?????Airdodge. (Oslo, develops a platform designed to manage drone traffic): Has raised 500.000 USD in a funding round led by Nordic Makers and Antler. “In this case, the infrastructure is not roads, plumbing, or electrical wires; but rather ethereal communication systems,” comments Nima Tisdall, partner at Nordic Makers.
?????Adsorbi. (Gothenburg, develops bio-based air purification materials): Has raised 1 MEUR in a funding round from Mets? Spring, Chalmers Ventures, Jovitech Invest, and Vinnova. "Air pollutant control is needed in many markets, and we’re ready to offer a commercial solution that ensures the air we breathe is clean," comments Hanna Johansson, CEO of Adsorbi.
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