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]

06/11/2025

Inception Fund launches €21 million micro fund to back new Nordic AI founders

Stockholm-based Inception Fund has officially launched with a €21 million micro fund focused on supporting day-zero startups led by technical founders across the New Nordics — including the Nordic and Baltic regions. Founded by Oliver Molander, Caroline Cronstedt, and Erik Lindblad, with Silo AI’s co-founder and CEO Peter Sarlin joining as a founding LP and partner, the fund will invest in early-stage teams working in B2B software and artificial intelligence.

https://arcticstartup.com/inception-fund-launches-with-a-e21-million-micro-fund/

06/11/2025

Nordic cleantech DREV raises €2.8 million to strengthen circular battery manufacturing

Gothenburg-based startup DREV has secured €2.8 million in seed funding to advance contamination control solutions for the battery sector. The round was co-led by Butterfly Ventures and Almi Invest GreenTech, with contributions from S-E-Bankens Utvecklingsstiftelse and Battle Born Venture, Nevada’s state-backed fund. Founded in 2023 and based in Gothenburg, DREV develops the Vault system, designed to capture and recover metal dust generated during battery production and recycling—particles that can pose health and safety risks while wasting valuable materials. The new funding will support further product development, pilot deployments, and the establishment of manufacturing operations in Sweden. DREV’s technology responds to growing safety and circularity standards in the global battery industry as facilities expand across Europe and North America.

https://arcticstartup.com/drev-raises-e2-8-million-seed/

06/11/2025

Latvia’s Mapon shifts gears into Ireland, acquiring Fleet DATA to power European expansion

Latvian fleet management provider Mapon is entering the Irish market through the full acquisition of Fleet DATA (Envirokind Limited), an established Galway-based fleet management company founded in 2012. Both companies specialize in GPS tracking, fleet management, safety cameras, and digital tachograph solutions, helping businesses optimize operations, enhance safety, and meet sustainability goals. With Fleet DATA’s 13 years of market experience and local expertise, Mapon will strengthen its foothold in Western Europe while ensuring service continuity for existing Fleet DATA clients. The Irish team, led by founder Stephen Connell, will now operate as Mapon’s local branch, reinforcing the company’s growing presence across the Nordics, Baltics, and Western Europe.

https://arcticstartup.com/mapon-acquires-fleet-data/

06/11/2025

Estonian Leil attracts €1.5 million to scale greener storage infrastructure for data-intensive industries

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 capacity per disk and 70% lower energy use. The technology allows organisations managing vast datasets—such as broadcasters, archives, and AI training centres—to scale cost-effectively without the environmental or operational overhead of conventional hard-drive systems. The new capital will fuel product roadmap expansion and go-to-market growth, helping Leil extend its customer base across data-intensive industries.

https://arcticstartup.com/leil-storage-raises-e1-5-million-seed/

Credit: Kiur Kaasik/Leil Storage

04/11/2025

Danish BOOST Pharma raises €3 million to advance groundbreaking stem cell therapy for rare pediatric disease

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 and young children. BOOST Pharma aims to use the capital to advance ongoing trials and move closer to delivering the first disease-modifying treatment for OI, addressing an area with no currently approved therapies. The investment also expands Sound Bioventures’ growing rare-disease portfolio, aligning with its focus on late-preclinical and clinical-stage life-science ventures in Europe and the US.

https://arcticstartup.com/boost-pharma-raises-e3-million/

04/11/2025

Sweden’s Froda partners with Triffin to unlock £100M in financing for UK consumer brands

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 as payroll, invoice management, and inventory forecasting. By embedding access to flexible financing into these workflows, the collaboration seeks to ease cash-flow pressures that have intensified amid a £22 billion SME funding gap in the UK. The initiative marks Froda’s fourth embedded finance partnership in the UK, reflecting a continued shift toward more automated and adaptive small business lending models.

https://arcticstartup.com/froda-and-triffin-partner/

04/11/2025

Finnish Behavix pushes into 2026 with strategic Syno alliance and senior US advisor appointment

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 global network of survey panels. The partnership transforms traditional opinion-based panels into behavioral-first, AI-enhanced data ecosystems—bridging the gap between real-world digital actions and market insights. Alongside this collaboration, Behavix has appointed Matt Hynes (formerly of Toluna and Dynata) as Senior Strategic Advisor (US) to drive North American expansion and strengthen panel partnerships.

https://arcticstartup.com/behavix-partners-with-syno/

04/11/2025

Finnish Agate Sensors wins Swedish defence contract to advance human performance monitoring

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 will demonstrate its hyperspectral photoplethysmography (HPPG) technology in real-world, high-stress defence settings, helping Sweden’s armed forces better understand and predict human performance under pressure. The proof-of-concept program—running until March 2026—includes technical validation and joint demonstrations in Europe’s key defence innovation events.

https://arcticstartup.com/agate-sensors-wins-swedish-defence-contract/

Credit: Paavo Lehtonen

04/11/2025

Danish Contribe adds $500K to pre-seed round to fuel global expansion of donation-driven commerce

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 behaviour with social impact while supporting NGOs through micro-donations. The latest funding will support international scaling, product refinement, and team expansion, as the company seeks to advance its model for embedding philanthropy in everyday online commerce.

https://arcticstartup.com/contribe-raises-500k/

31/10/2025

Danish Evertrace continues acquisition streak with Morphais, its third deal in less than two months

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 acquisition integrates Morphais’ sourcing technology and datasets into Evertrace’s existing system, enhancing the platform’s coverage and accuracy. It follows earlier acquisitions by Evertrace as part of a broader effort to consolidate analytical tools for early-stage deal discovery.

https://arcticstartup.com/evertrace-acquires-morphais/

31/10/2025

With $150M in new funding, Swedish AI startup Legora ushers legaltech into the unicorn age

Stockholm-based Legora has raised $150 million in Series C funding at 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 to support document review, research, and drafting. The funding follows a period of rapid growth, with Legora’s client base expanding to over 400 organizations across 40 markets. The new capital will be used to expand internationally, grow its team, and develop new product capabilities to meet demand for AI-driven legal workflows.

https://arcticstartup.com/legora-raises-150-million-series-c/

31/10/2025

Iceland’s PLAIO strengthens ERP integration through strategic partnership with Sikich

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 processes, improve transparency across production and procurement, and enhance responsiveness to supply fluctuations. Rather than introducing a new layer of complexity, the partnership focuses on embedding intelligence within existing workflows, supporting the industry’s gradual shift toward predictive and adaptive planning models.

https://arcticstartup.com/plaio-partners-with-sikich/

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