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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18/11/2025

Swedish AI sales assistant Spiich secures €600K pre-seed backing to tackle sales productivity drain with agent-first automation

Stockholm-based Spiich Labs has raised a €600k pre-seed round led by Ampli Ventures, joined by founders and operators from Lovable, Neo4j, Tandem Health, Creandum, and OpenAI’s startup leadership alongside Index Ventures Scout Fund and Wave Ventures. The KTH-born startup is rebuilding sales software for the AI era, tackling a €300bn productivity drain caused by sales teams spending the majority of their week on admin rather than selling. Spiich’s agent-first assistant automates CRM updates, meeting prep, and follow-ups through simple conversational commands, with early users reporting up to 10 hours saved per week. The new funding will support expanded CRM integrations, more proactive intelligence features, and scaling the platform to 2,000 users by 2026 as the company pushes to make AI-native workflows the default in B2B sales.

https://arcticstartup.com/spiich-labs-raises-e600k/

17/11/2025

Iceland’s DTE appoints Sohail Nazari to guide next phase of international growth

Reykjavik-based metals analytics company DTE has appointed Dr. Sohail Nazari as Chief Commercial Officer as it prepares for a broader international scale-up of its LP-LIBS™ technology, which provides real-time, in-furnace compositional analysis of molten aluminum. The appointment comes as global aluminum producers face increasing pressure to use more recycled material and improve process efficiency. Nazari, who previously led automation and digitalization initiatives at ANDRITZ and has a background spanning automotive, mining, and energy industries, is expected to guide DTE’s commercial expansion and support the company’s growing activity in Europe, North America, and Asia.

https://arcticstartup.com/dte-appoints-dr-sohail-nazari-as-cco/

17/11/2025

Latvian Handwave integrates Visa’s Token Management Service to enable palm-based payments

Riga-based biometric payments scaleup Handwave has entered a strategic agreement with Visa to integrate its privacy-focused palm recognition technology into Visa’s Token Management Service (TMS) via the Visa Acceptance Platform. Handwave’s technology allows users to link their Visa cards directly to their palm biometrics — enabling frictionless, wallet-free checkouts protected by Visa’s tokenization and fraud-prevention infrastructure. Through this partnership, merchants and acquirers can now access biometric authentication without costly system overhauls, offering faster, safer, and more inclusive payment experiences. The collaboration also sets the stage for Handwave’s expansion across Europe, the US, and global markets, supported by its recent $4.2 million seed round led by Practica Capital, FirstPick, Outlast Fund, and Inovo.vc.

https://arcticstartup.com/handwave-partners-with-visa/

14/11/2025

Sweden’s Syre partners with Nike to scale circular polyester for global sportswear

Stockholm-based Syre has entered a multi-year partnership with Nike to accelerate the shift toward circular textiles, positioning itself as the sportswear giant’s lead strategic supplier for textile-to-textile recycled polyester. The collaboration aims to integrate Syre’s circular polyester into Nike’s performance lines, with the first products expected within the next few years. For Nike, the deal represents a significant step in rethinking materials sourcing and scaling sustainable innovation across its global operations. For Syre — which is building a global network of recycling plants, beginning with a large-scale facility in Vietnam set to break ground in 2027 — the partnership marks a major commercial milestone and validation of its mission to “hyperscale” textile recycling.

https://arcticstartup.com/syre-partners-with-nike/

13/11/2025

Unconventional Ventures launches €80M Fund II to reshape inclusive investing in Europe

Unconventional Ventures, the Nordic impact-focused VC firm known for backing underrepresented founders, has announced the first close of its €80 million Fund II. The milestone underscores growing institutional support for inclusive investment strategies, with backing from the European Investment Fund (EIF), EIFO, Chr. Augustinus Fabrikker, Nordea-fonden, TryghedsGruppen, and several family offices.

https://arcticstartup.com/unconventional-ventures-e80-million-fund-ii/

13/11/2025

Finnish startup Cronvall secures €3.9M to scale transparent procurement platform

Helsinki-based Cronvall has secured €3.9 million in funding to expand its digital procurement platform for the industrial and construction sectors across Europe. The round was led by Greencode Ventures, joined by Stephen Industries, Innovestor, and several industrial family offices. Cronvall’s platform centralizes purchasing by linking companies to more than 150 verified suppliers, providing real-time visibility on prices and availability—an area often marked by fragmentation and inefficiency. The company currently serves over 8,000 clients in Finland and Germany and plans to use the funding to strengthen its technology and scale operations in new markets, particularly Germany.

https://arcticstartup.com/cronvall-raises-e3-9m/

Credit: Sabrina Bqain

13/11/2025

Nordic and Baltic SaaS founders get €80M boost as Vendep Capital launches new fund

Helsinki-based Vendep Capital has secured €80 million for its fourth fund, aimed at backing early-stage B2B SaaS startups across the Nordics and Baltics. The fund, which reached its target ahead of schedule and remains open for commitments until April 2026, continues Vendep’s decade-long focus on helping regional software founders scale globally. Its backers include a mix of long-standing institutional investors — Tesi, KRR, Sitra, Elo, Saastamoinen Foundation, Gösta Serlachius Fine Arts Foundation, and Teknologiateollisuus — alongside new institutional LPs, family offices, and individuals who share the firm’s long-term vision for the SaaS sector.

https://arcticstartup.com/e80-million-for-vendep-fund-iv/

13/11/2025

Finnish location intelligence startup CHAOS lands €2 million to enhance AI tools for urban planning

Helsinki-based CHAOS has raised €2 million in funding from Nidoco and Finnvera to advance its AI-driven location intelligence platform for the real estate industry. Founded in 2017, CHAOS develops tools that analyze and interpret data on urban growth, demographics, and business activity to support investment and planning decisions. The funding will be used to expand operations across the Nordics and DACH region and enhance the platform’s AI capabilities, enabling more efficient and data-informed decision-making for real estate investors, developers, and retailers.

https://arcticstartup.com/chaos-raises-e2-million/

13/11/2025

Iceland’s Euler raises €2M seed round to bring AI reliability to industrial 3D printing

Iceland-based Euler has raised a €2 million seed round co-led by Frumtak Ventures and Kvanted to scale its AI-powered 3D printing software that detects and prevents print defects in real time. A spinout from the Technical University of Denmark, Euler uses deep AI to enhance reliability in laser powder bed fusion and selective laser sintering — helping industrial manufacturers avoid costly failures and ensure consistent production quality. The fresh funding will accelerate team expansion, particularly in sales and marketing, and drive product development and international rollout following a successful pilot and upcoming Formnext debut in Frankfurt. Frumtak Ventures Partner Ásthildur Otharsdóttir and Kvanted Partner Eerik Paasikivi join the Euler board.

https://arcticstartup.com/euler-raises-e2m-seed/

11/11/2025

Lithuanian Self.co secures €2.56 million to expand accessible allergy diagnostics in Europe

Vilnius-based healthtech Self.co has raised €2.56 million in a mix of venture funding and grants to broaden access to affordable allergy and intolerance testing. The €1.2 million investment round, led by Iron Wolf Capital with Coinvest and NGL Ventures, complements a €1.36 million grant from Innovation Agency Lithuania aimed at advancing the company’s molecular testing technology. Self.co develops diagnostic kits that detect more than 300 allergens and food sensitivities using small blood samples taken at home or in clinics, supported by AI-assisted analysis and expert review. The company plans to use the new capital to strengthen its existing operations in Poland and Lithuania and expand into Germany, Austria, Ireland, and the UK, as part of efforts to make allergy diagnosis faster and less costly across Europe.

https://arcticstartup.com/self-co-raises-e2-56-million/

10/11/2025

Denmark’s Arkyn secures €4M to accelerate international growth and expand AI-powered SAP maintenance solutions

Copenhagen-based enterprise software company Arkyn has raised €4 million in fresh financing co-led by Compounding Capital and Trifork Labs to fuel its global expansion and extend its product suite with advanced AI capabilities. Arkyn develops a digital platform for service and asset maintenance operations built on top of SAP, enabling real-time ERP data access for frontline workers across industries such as manufacturing, energy, and oil & gas. The funding will support the company’s continued push into the US and DACH markets, along with the rollout of new AI features aimed at minimizing administrative workloads and boosting field efficiency. Compounding Capital’s Kasper Grundtvig Knokgaard joins Arkyn’s Board of Directors, while Trifork Labs—an early backer and innovation partner—continues its support following the success of Arkyn’s mobile SaaS solutions, FastWork and FastPlan.

https://arcticstartup.com/arkyn-raises-e4m/

10/11/2025

Danish UAV maker Monopulse secures €1.12M financing from ILTE to expand drone production

Copenhagen-based unmanned aerial vehicle manufacturer Monopulse (operating under MNP Technologijos) has received €1.12 million in financing from Lithuania’s national development bank ILTE. The funding, issued under ILTE’s Billion for Business program, will be used to increase production capacity and meet current defense orders in Lithuania and abroad. Monopulse develops NATO Class I (Mini) drones for surveillance and reconnaissance, integrating night-vision systems and communication technologies designed to function under GPS jamming. The company sources critical components only from allied countries and manufactures key parts, such as flight control computers and cameras, in-house. With ongoing deliveries to Nordic and Baltic defense customers and collaboration with Ukrainian partners, Monopulse is adapting its UAV systems to reflect the technological lessons emerging from modern conflict environments.

https://arcticstartup.com/monopulse-raises-e1-12-million/

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