ArcticStartup Media

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ArcticStartup Media

We report on digital startups and growth entrepreneurship from the Nordic and Baltic countries. Own also European startup print magazine called CoFounder.

ArcticStartup is the leading online media reporting on startups and promoting growth entrepreneurship in Northern Europe. Also known for event brands such as Arctic15, Santas Christmas Pitch, Megamatch and Nordic Deep Tech Business Summit. A community for anyone who is interested in the Nordic and Baltic startup scene. ArcticStartup helps the startup ecosystem with matchmaking, connecting, scoutin

g, consulting, sharing information, organizing events, organizing trips to other events, building bridges between large corporations and startups, and also offering internship and job positions in the Nordics and Baltics. ArcticStartup was founded in 2007 and is currently led by Jan Ameri and Vedat Öndas. Headquartered in Helsinki, Finland. ArcticStartup covers Finland, Sweden, Norway, Denmark, Iceland, Estonia, Latvia, and Lithuania. Sign up for the weekly newsletter at www.arcticstartup.com
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10/12/2025

Lithuania’s Aneli Capital launches €35 million fund for early-stage startups in the Baltics and CEE

Vilnius-based Aneli Capital has launched a €35 million early-stage fund to back Baltic, Polish, and wider CEE startups in ICT, robotics, energy, space, photonics, and smart manufacturing. With a plan to make 20 investments over its first five years, the fund aims to fill persistent regional gaps in capital access and scaling support. Backed by ILTE and Magna Polonia, Aneli Capital positions itself as a hands-on, fast-moving investor that prioritizes real traction over hype cycles—helping founders strengthen operations, prove unit economics, and get ready for follow-on rounds.

https://arcticstartup.com/aneli-capital-launches-e35m-venture-fund/

10/12/2025

Latvian Pats introduces faster invoice payments via Noda’s open banking network

Pats has integrated Noda’s pay-by-bank technology to offer instant invoice payments for the more than 20,000 freelancers and small businesses using its accounting platform. The move aims to address a persistent issue for Pats’ core user base—delayed and unpredictable cash flow—by enabling customers to complete bank transfers through a single link or QR code with immediate settlement. For Pats, the partnership provides the infrastructure needed to support users who operate across borders, as Noda’s network connects to over 2,000 banks in 30 European countries. The integration also streamlines payment and reconciliation workflows, aligning with Pats’ broader effort to simplify routine financial tasks for self-employed professionals.

https://arcticstartup.com/pats-partners-with-noda/

09/12/2025

Norway’s Enerin secures €15M Series A for industrial heat pump manufacturing

Norway’s Enerin has raised €15 million in Series A funding, with participation from Climentum Capital, The Footprint Firm, Johnson Controls and Move Energy, with participation from PSV Hafnium and Momentum. The company develops modular high-temperature heat pumps capable of supplying industrial process heat up to 250°C, targeting sectors that rely on fossil-fuel boilers. Enerin plans to use the funding to expand manufacturing capacity, formalise serial production, and advance the next generation of its HoegTemp system.

https://arcticstartup.com/enerin-raises-e15-million-series-a/

09/12/2025

Finnish Freepress raises €1 million to develop AI-driven news platform

Finnish news service Freepress has raised €1 million in seed funding to further develop its AI-driven news platform and prepare for international expansion. The round includes several experienced Finnish investors, led by Kustaa Poutiainen’s Stephen Industries Inc. Freepress uses a virtual AI editor to analyze large volumes of public and licensed news articles and generate summaries in users’ own languages. The company plans to allocate the new capital to product development, infrastructure, and publisher partnerships. As part of its model, Freepress intends to share up to half of its revenue with media outlets whose content appears on the service.

https://arcticstartup.com/freepress-raises-e1m-seed/

08/12/2025

Danish Skycore Semiconductors secures €5 million in a seed round to tackle AI data centers’ power bottleneck

Copenhagen-based Skycore Semiconductors has raised €5M in seed funding to commercialize its Power Integrated Circuit (IC) technology built for next-generation AI data centers moving toward 800V HVDC architectures. The round was led by the Amadeus APEX Technology Fund, with participation from First Momentum, Mätch VC, and Balnord, bringing the company’s total funding to €7.5M. Skycore develops silicon-validated Power IC solutions that deliver extreme power density and efficiency in compact form factors—addressing the mounting power-delivery bottlenecks of AI infrastructure. The new capital will fuel team expansion, product development, manufacturing scale-up, patent portfolio growth, and co-development projects with strategic partners as the industry accelerates its shift beyond traditional 54 VDC systems toward high-voltage architectures capable of powering AI factories.

https://arcticstartup.com/skycore-semiconductors-raises-e5m-seed/

05/12/2025

Danish Chromologics raises €7 million to accelerate regulatory push for natural food colours

Chromologics, the Copenhagen-based biotech spin-out from DTU, has raised €7 million from Novo Holdings, EIFO, Döhler Ventures, Collateral Good and The Synergetic Group, bringing its total funding to nearly €20 million. The company develops fermentation-based natural food colours, led by its flagship ingredient Natu.Red®, a heat- and pH-stable alternative to synthetic red dyes. The fresh capital will be used to complete EFSA and FDA regulatory submissions, scale up production with a large-scale CMO partner, and prepare for commercial launch amid accelerating global demand for sustainable, synthetic-free colour solutions.

https://arcticstartup.com/chromologics-raises-e7m/

Credit: Thomas-Isbrandt

05/12/2025

Estonia’s Bolt launches partnership with Pony to test autonomous mobility in Europe

Tallinn-based Bolt is joining forces with Pony.ai to bring Level 4 autonomous driving to Europe, marking a major leap in urban mobility. The partnership integrates Pony.ai’s world-leading self-driving technology into Bolt’s extensive ride-hailing ecosystem, beginning with real-world testing, safety validation, and service design across select EU and non-EU European cities. By pairing Pony.ai’s autonomous vehicle expertise with Bolt’s regulatory know-how and continent-wide footprint, the collaboration aims to accelerate safe, scalable driverless operations. For Pony.ai, the agreement expands its global robotaxi rollout; for Bolt, it signals a strategic step toward a future where autonomous mobility is seamlessly woven into everyday transport.

https://arcticstartup.com/bolt-partners-with-pony-ai/

05/12/2025

Swedish Grasp brings in ex-Pitchbook leader to oversee UK market entry

Grasp, a Stockholm-based AI company developing multi-agent systems for automating investment banking and consulting tasks, has appointed former Pitchbook Core EMEA Director Lukas Otto as its UK Managing Director. Otto, who joined Pitchbook in 2017 and played a key role in building out its European operations, will oversee Grasp’s London office — the startup’s first location outside Sweden. Otto’s role is expected to centre on operational oversight and market expansion as the company increases its presence in the UK.

https://arcticstartup.com/grasp-appoints-lukas-otto-as-uk-managing-director/

04/12/2025

Norwegian startup Fronted secures $1 million to streamline cross-border employment

Norway-based startup Fronted has secured $1 million in pre-seed funding from Antler and Sondo Capital to further develop its AI-driven platform for managing global hiring and employment. The company is building a system that brings recruitment, onboarding, payroll, compliance and offboarding into one workflow—an attempt to streamline a process that today is handled across multiple tools. Founded by operators with backgrounds in cross-border employment, fintech and remote-work infrastructure, Fronted plans to use the new capital to expand its product and engineering teams and continue developing its unified platform. The team reports a 230% increase in ARR since mid-2025.

https://arcticstartup.com/fronted-raises-1-million-pre-seed/

Credit: Ben Grindheim ()

04/12/2025

Incore Invest closes second round at €40 million to fuel Europe’s SaaS and fintech growth

Stockholm-based Incore Invest has secured a second closing of its Incore Invest II fund at around €40 million, following an additional €15 million raised from new and existing investors. The fund targets high-growth SaaS and fintech startups across Europe, with a focus on scalable platforms and embedded finance solutions. The new capital boosts the firm’s capacity to pursue fresh investments and deepen engagement with portfolio companies.

https://arcticstartup.com/incore-invest-second-closing-of-its-ii-fund/

03/12/2025

Finland’s QMill and Montréal’s ÉTS team up to accelerate quantum-algorithm research

Espoo-based quantum-algorithm developer QMill and Montréal’s ÉTS have formalized a strategic research partnership that brings together QMill’s industrial expertise in near-term quantum software and ÉTS’s growing academic strength in quantum-algorithm science. The collaboration will focus on co-developing, testing, and benchmarking algorithms designed for real-world use cases—particularly in sectors such as energy, logistics, and telecommunications—while enabling shared research projects, talent exchanges, and direct technology-transfer channels. By linking Finland’s advanced quantum-computing community with Québec’s fast-rising quantum ecosystem, the two organizations aim to accelerate the path from theoretical breakthroughs to practical quantum impact.

https://arcticstartup.com/qmill-and-ets-strengthen-partnership/

03/12/2025

Finland’s NestAI lands €100 million from Nokia and Tesi to power AI-native defense

Espoo-based physical AI lab NestAI has raised €100 million in strategic investment from Nokia and Tesi, coinciding with a new partnership to co-develop AI-native defense and critical-infrastructure technologies. NestAI builds next-generation AI systems for unmanned vehicles, autonomous operations, and data-centric command-and-control platforms used in logistics, inspection, security, and defense. The fresh capital will accelerate R&D in physical AI, expand forward-deployed engineering capabilities, and deepen NestAI’s collaborations with European defense forces. For Nokia, the deal aligns with its push into secure, AI-driven defense connectivity, while Tesi’s participation reflects Finland’s strategy to back sovereign deep-tech with long-term geopolitical relevance.

https://arcticstartup.com/nestai-raises-e100-million/

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