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
For advertising inquiries, email us at [email protected]

04/07/2025

Swedish startup secures $3M pre-seed to scale European drone defence technology

Stockholm-based defence technology startup Nordic Air Defence (NAD) has raised an additional $3 million in a pre-seed funding round led by VC firm Inflection, bringing the total raised to $4.4 million. The company develops drone defence systems aimed at reducing European reliance on foreign suppliers. The funding will support the development and production of its Kreuger 100 drone interceptor platform, which uses software to reduce hardware costs and enable larger-scale deployment. NAD is also expanding its engineering team with hires from companies including Anduril, FLIR, and Einride, and has updated its board to focus on growth and scaling operations. The company plans to continue developing defence solutions for various environments and markets.

https://arcticstartup.com/nordic-air-defence-nad-raises-3m-pre-seed/

04/07/2025

Techarena gears up for Europe-wide expansion with new funding from BackingMinds

Stockholm-based Techarena has secured over €1 million (SEK 12 million) in funding from BackingMinds to accelerate its international expansion. Known for convening startups, investors, and thought leaders through flagship events like Techarena Challenge and Time to Raise, the platform has seen 600% revenue growth in three years and hosted over 18,000 participants in the past year alone. Founded in 2014, Techarena is doubling down on its mission to build Europe’s innovation infrastructure through high-impact physical gatherings at a time when digital saturation makes human connection more vital than ever. The fresh capital will be used to scale Techarena’s presence across the continent, launching new initiatives that foster entrepreneurship, expand access to networks and capital, and bolster Europe’s position in the global innovation race.

https://arcticstartup.com/techarena-raises-e1-million/

04/07/2025

Norrsken Foundation allocates €300 million to AI-focused impact startups

The Norrsken Foundation has pledged €300 million to support European startups developing artificial intelligence tools aimed at addressing large-scale societal and environmental challenges. The funding will be distributed through Norrsken VC, Norrsken Launcher, and Norrsken Accelerator.

In a public statement, Norrsken’s investment team highlighted concerns that while AI has attracted record-breaking capital—over $110 billion in 2024 alone—much of it is directed toward narrow productivity gains. The foundation argues that current funding patterns largely ignore more complex but potentially transformative applications of AI in sectors such as healthcare, clean energy, education, and food systems.

https://arcticstartup.com/norrsken-foundation-allocates-e300-million/

03/07/2025

Kuva Space-Syke collaboration aims to transform national water monitoring using AI and hyperspectral data

Helsinki-based Kuva Space is partnering with the Finnish Environment Institute (Syke) on a pilot project aimed at improving the detection of harmful algae blooms in Finland’s inland and coastal waters. The initiative will test the applicability of Kuva Space’s hyperspectral satellite data and AI-driven analysis in complementing Syke’s existing monitoring methods, which rely on public satellite data and manual sampling. By contributing high-resolution spectral data, Kuva Space will support efforts to distinguish between different algae types and track changes in water quality more precisely. The collaboration provides a real-world context to further train and validate Kuva’s models using Syke’s extensive archive of water samples. The pilot also offers a structured environment to evaluate how satellite-based observation can contribute to environmental monitoring, regulatory reporting, and early warning systems in complex freshwater and coastal ecosystems.

https://arcticstartup.com/kuva-space-partners-with-syke/

03/07/2025

Antler Nordics renews investment terms, doubles initial backing for founders

Antler Nordics has rolled out updated investment terms for early-stage founders in Helsinki, Stockholm, Oslo, and Copenhagen, doubling its initial pre-seed investment to €200,000. The move follows the close of its second €100 million Nordic fund and is aimed at giving founders longer runway and faster commercial traction from the outset.

Under the new structure, startups receive €200,000 immediately upon a positive investment decision — split into €100,000 for 8.5% equity and €100,000 on an uncapped SAFE with a Most Favored Nation (MFN) clause. An additional €300,000 in follow-on funding is pre-committed, bringing the total pre-seed commitment to €500,000 per company.

https://arcticstartup.com/antler-nordics-renews-investment-terms/

01/07/2025

Finland’s Spacent gains new investment to support companies managing hybrid workforces

Spacent, a B2B workspace platform operating in 24 countries across Europe, has raised a funding round led by Gorilla Capital Fund III with participation from Lifeline Ventures, Halton Group, Redical Holdings AG, and Morrow Portfolio Oy. The company provides access to flexible workspaces aimed at supporting hybrid work models by helping organizations manage office costs and workspace complexity. The new funding will be used to expand Spacent’s platform internationally and develop tools to assist companies in managing hybrid teams and workplace policies. Spacent’s clients include companies in sectors such as technology, consulting, and engineering.

https://arcticstartup.com/spacent-raises-funding/

01/07/2025

$50M investment boosts Tandem Health’s expansion of AI-powered clinical tools

Stockholm-based Tandem Health has raised $50 million in a Series A funding round led by Kinnevik, with participation from Northzone, Amino Collective, and Visionaries Club. The company develops AI tools aimed at reducing administrative tasks for clinicians by automating clinical note-taking and other workflow processes. Tandem’s technology is currently in use across several European countries, including integration with NHS systems in the UK. The new funding will support the expansion of their platform to cover broader aspects of clinical workflows, such as coding, care coordination, and decision support. The company plans to continue adapting its solutions to the specific needs of different healthcare systems across Europe.

https://arcticstartup.com/tandem-health-raises-50m/

01/07/2025

New Baltic-Nordic partnership to bring VTOL aircraft to defence sector

Lithuanian aeronautics company Airvolve and Finnish defence systems provider Maverick Defence Oy have signed a Letter of Intent to deliver ten Airlift-U500 VTOL aircraft to Finland and Sweden, with first deliveries expected in mid-2026. Under the agreement, Maverick Defence will act as Airvolve’s distributor and operational partner in both countries, supporting demonstration, training, and integration activities. The Airlift-U500 is a hybrid-electric, autonomous aircraft designed for tactical logistics and evacuation missions. The partnership will facilitate field trials in Nordic environments, with Airvolve aiming to scale production to 100 units by the end of 2026.

https://arcticstartup.com/airvolve-maverick-defence-partner/

01/07/2025

Lundbeckfonden BioCapital Partner Jacob Falck Hansen becomes CEO of Vesper Bio

Copenhagen-based biotech Vesper Bio has appointed Jacob Falck Hansen as Chief Executive Officer, replacing Paul Little, who led the company through its transition from preclinical to clinical development. Hansen, a partner at Lundbeckfonden BioCapital—the company’s largest shareholder—brings experience from both corporate strategy at Novo Nordisk and board roles in several biotech ventures. His appointment comes as Vesper continues its Phase Ib/IIa clinical trial of VES001, an oral therapy targeting a genetically defined form of frontotemporal dementia (FTD). The trial, focused on asymptomatic carriers of the GRN gene mutation, is expected to report data in the second half of 2025.

https://arcticstartup.com/vesper-bio-appoints-jacob-falck-hansen-as-ceo/

01/07/2025

Danish startup Leaf raises funding to simplify insurance and pension management for businesses

Copenhagen-based Leaf has raised €1.74 million (13 million DKK) in its first investment round, led by Caesar and supported by EIFO, along with several angel investors. The company offers a digital platform designed to help businesses manage their insurance and pension by providing data-driven analysis and automation. Leaf aims to address the problem of many businesses being incorrectly insured or paying more than necessary by improving transparency and simplifying insurance management. The new funding will be used to develop the platform further, expand the team, and scale operations.

https://arcticstartup.com/leaf-raises-e1-74-million/

01/07/2025

Norwegian startup closes €5 million round to ramp up ambient-powered MCU manufacturing

ONiO, an Oslo-based semiconductor startup, has raised €5 million in a Series A round to scale production of ONiO.zero, a wireless microcontroller that operates entirely on harvested ambient energy. The round was led by Stockholm-based node.vc with Helsinki’s Maki.vc as co-lead. Existing investors EIC Fund and MP Pension also participated. ONiO.zero integrates a RISC-V CPU, radios, power management, and memory into a single chip and is capable of cold-starting from below 1µW. It is designed for use in batteryless or energy-harvesting IoT applications, including environmental sensors, asset trackers, and electronic shelf labels. The funding will be used to expand manufacturing, deliver developer kits, and support adoption in commercial pilot projects.

https://arcticstartup.com/onio-raises-e5-million-series-a/

01/07/2025

Sweden’s Pixelgen Technologies secures $14.7 million from EIC Accelerator to broaden single-cell proteomics applications

Stockholm-based Pixelgen Technologies has been awarded $14.7 million (EUR 12.5 million) in blended grant and equity financing from the European Innovation Council (EIC) Accelerator. The funding will support the expansion of Pixelgen’s Proxiome Kit, a recently launched product for high-throughput analysis of protein interactions at the single-cell level. Pixelgen’s core technology, the Proximity Network Assay, enables nanoscale spatial mapping of cell surface proteins, with applications in immunology, cancer, and cell therapy research. The company plans to use the funds to adapt its platform for additional use cases, including cell-to-cell interaction analysis and formalin-fixed tissue samples.

https://arcticstartup.com/pixelgen-technologies-awarded-14-7-million/

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