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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22/12/2025

Lithuanian Repsense raises €2M seed round to expand information analytics platform

Vilnius-based Repsense has raised €2 million in seed funding to further develop its information analytics platform, which is used in both commercial and public-sector contexts, including NATO deployments. The round was led by Tensor Ventures, with participation from Seed Starter—supported by Erste Group—as well as existing backers BSV Ventures and Coinvest Capital. Repsense analyses large volumes of short-form social media content to map narratives, influence patterns, and information risks that are typically missed by traditional media monitoring tools. The funding will be used to expand its threat-detection and analysis capabilities, with a focus on tracking disinformation and influence operations across platforms such as TikTok and Instagram, while also improving its analytics offering for organisations seeking to measure the real-world impact of online narratives.

https://arcticstartup.com/repsense-raises-e2-million-seed/

22/12/2025

Finnish Rundit joins Greenstep in bid to integrate fund reporting and back-office services

Helsinki-based Rundit has been acquired by Greenstep, marking a strategic move to merge modern fund reporting software with full-scale fund administration services. Rundit, whose platform is used by VC and PE investors in more than 40 countries to automate portfolio data collection and LP reporting, will continue operating as a standalone product and team under Greenstep’s ownership. While financial terms were not disclosed and no new funding round was announced alongside the deal, the acquisition signals a shift toward integrated, end-to-end fund services. Greenstep plans to combine Rundit’s technology with its fund accounting, compliance, tax, and operational expertise to build a highly automated back-office platform for funds across Europe, reducing manual work and data silos while scaling the offering internationally.

https://arcticstartup.com/rundit-acquired-by-greenstep/

19/12/2025

Estonian MyDello secures €3.1 million to scale its automated international freight platform and deepen AI integration.

Estonian logistics startup MyDello has raised €3.1 million in a new funding round led by Icelandic VC Frumtak Ventures, with participation from existing investor Superhero Capital of Finland, as the company expands its automated freight platform into the UK. The round also brings Jevgeni Kabanov, president of Bolt, onto MyDello’s board, alongside Frumtak general partner Andri Heiðar Kristinsson.MyDello is a B2B digital freight forwarder that uses proprietary software and an expanding AI layer to automate international shipping, offering instant door-to-door pricing and routing across all freight modes by tapping into more than 400 carriers globally. The fresh capital will be used to accelerate international growth—starting with UK customers going live in December—and to further embed AI across MyDello’s systems, with the goal of automating most shipment operations by the end of 2026.

https://arcticstartup.com/mydello-raises-e3-1m/

Credit: KERTINVASSER

19/12/2025

Finnish ICEYE and SSC sign LOI to strengthen Nordic and NATO space-based ISR capabilities

Finnish SAR satellite operator ICEYE and Swedish Space Corporation (SSC) have signed a Letter of Intent to explore deeper collaboration across mission development, satellite operations, ground infrastructure, and future launch services, marking a concrete step toward strengthening Nordic and NATO-aligned space-based security capabilities. The partnership brings together ICEYE’s sovereign SAR-based intelligence, surveillance and reconnaissance (ISR) constellation with SSC’s global ground station network, mission operations expertise, and Esrange Space Center launch ambitions, with a particular focus on Arctic and North-Eastern Flank requirements.

https://arcticstartup.com/iceye-and-swedish-space-corporation-ssc-partner/

19/12/2025

Danish EvodiaBio raises €6 million to accelerate global scale-up in industrial biotech

Danish industrial biotech startup EvodiaBio has raised €6 million in a funding round led by US-based RA Capital, with continued backing from EIFO and participation from new international investors Francis Family Funds and Wild Radicals. The company develops fermentation-driven technology that enables the efficient, scalable, and low-carbon production of natural aroma molecules—initially transforming beer production by reducing reliance on climate-vulnerable hops, with broader applications across beverages and flavors. With documented commercial traction among global breweries and industrial-scale production already in place, EvodiaBio will use the new capital to accelerate expansion across Europe, the US, and Canada, while preparing entry into Asia and extending its platform into adjacent aroma and flavor segments.

https://arcticstartup.com/evodiabio-raises-e6-million/

19/12/2025

Sweden's Lovable lands $330M Series B at $6.6B valuation as AI tools reshape product development

Lovable has secured $330 million in Series B funding at a $6.6 billion valuation, as investors double down on tools that lower the barrier to building software. The round is led by CapitalG and Menlo Ventures’ Anthology fund, with backing from NVentures (NVIDIA), Salesforce Ventures, Databricks Ventures, Atlassian Ventures, HubSpot Ventures, Deutsche Telekom’s T.Capital, as well as Khosla Ventures, DST Global, EQT Growth, and existing investors Accel, Creandum, and Evantic. The company develops an AI-driven platform that enables non-technical users to create and deploy web applications and internal tools without writing code. The funding will go toward expanding integrations with common workplace software, adding enterprise governance and collaboration features, and strengthening the infrastructure required to move projects from prototype to production.

https://arcticstartup.com/lovable-raises-330-million-in-series-b/

Credit: Svante Gullichsen

18/12/2025

Swedish Blykalla raises $50M to push lead-cooled reactor toward deployment

Stockholm-based nuclear startup Blykalla has raised $50 million to advance the industrialization of SEALER, its lead-cooled small modular reactor aimed at delivering stable, low-carbon baseload power. The round was co-led by Oklo Inc, Norrsken Launcher, and ARMADA Investment AG, with participation from KDDI, CoreWeave co-founders Brian Venturo and Peter Salanki, and investors including August One, GK Goh, Pitango, Nucleation Capital, and Earth Venture Capital. The funding will be used to expand testing and validation at its advanced reactor testing site in Oskarshamn, progress engineering and design work for its first nuclear units, and move forward on commercial and regulatory preparations required to site and license an initial SEALER deployment, as demand for reliable power infrastructure grows alongside energy-intensive industries such as data centers and advanced computing.

https://arcticstartup.com/blykalla-raises-50-million/

18/12/2025

Estonian SMEs to access €249 million in fresh financing under EIB–Coop Pank agreement

European lenders are unlocking a significant new financing channel for Estonia’s business sector. Under a pact between the EIB Group and local lender Coop Pank, up to €249 million in fresh loans and leases will be made available to Estonian SMEs and mid-sized companies by 2028, with a strong focus on gender equality and climate-related projects. The deal uses a synthetic securitisation structure — the first of its kind for Coop Pank and the first in the Baltics based solely on one country’s loan portfolio — allowing the bank to transfer part of its credit risk to the EIB and EIF and free up lending capacity. Backed by a €200 million portfolio, the arrangement earmarks at least €49 million for gender-equality initiatives and €17 million for climate and environmental action, positioning Coop Pank as a key conduit for EU-backed impact financing in Estonia’s real economy.

https://arcticstartup.com/estonian-companies-to-get-e249m-under-eib-group-pact-with-coop-pank/

18/12/2025

Finland’s Cloudberry announces Europe-focused semiconductor venture fund

Helsinki- and London-based Cloudberry has announced a €30 million initial close for what it describes as Europe’s first venture fund dedicated exclusively to semiconductors, photonics, and advanced materials. The fund will invest at pre-seed and seed stages, focusing on technologies linked to compute, connectivity, sensing, and power, at a time when European policymakers are seeking to strengthen domestic chip capabilities under the EU Chips Act. Backed by a mix of public and private investors—including Finnish state-owned investor Tesi alongside industrial players such as GlobalFoundries and Radiant Opto-Electronics—the fund plans to support up to 20 early-stage companies across Europe, targeting a segment of the semiconductor value chain that has historically attracted less venture capital than large-scale manufacturing projects.

https://arcticstartup.com/cloudberry-raises-e30m-for-semiconductor-fund/

Credit: Sabrina Bqain

17/12/2025

Denmark’s NobodyWho raises €2 million to push local, energy-efficient AI as an alternative to Big Tech LLMs

Copenhagen-based NobodyWho has raised €2 million in pre-seed funding from PSV Tech, The Footprint Firm, and Norrsken Evolve to advance its open-source approach to Small Language Models that run directly on users’ devices. The startup is positioning SLMs as a privacy-first, energy-efficient alternative to cloud-based large language models by enabling AI inference to happen locally on laptops and mobile phones, eliminating the need to send data to external servers. The fresh capital will be used to further develop the company’s on-device AI engine, grow its developer ecosystem and strengthen Europe’s AI sovereignty by offering a lower-cost, climate-aligned alternative to Big Tech’s cloud-centric AI infrastructure.

https://arcticstartup.com/nobodywho-raises-e2-million-pre-seed/

17/12/2025

Danish FarPay joins POM Group in bid to scale accounts receivable automation across Europe

Copenhagen-based fintech FarPay is entering a new growth phase following its acquisition by Dutch peer POM, in a transaction supported by investment firm Vortex Capital Partners. Known for its end-to-end automation of invoicing and accounts receivable across Scandinavia, FarPay will continue to operate as an independent brand within the POM Group, with its team, management, and operations remaining in Denmark. The deal gives FarPay access to additional capital, broader market reach, and POM’s expertise in intelligent payment solutions, dunning, and receivables management, enabling the company to accelerate product development and expand beyond the Nordics. Together, the two fintechs aim to build a scalable, AI-driven platform and position themselves at the forefront of accounts receivable automation across Europe.

https://arcticstartup.com/farpay-acquired-by-pom/

16/12/2025

Elvy secures €500 million to scale subscription-based home energy across Sweden

Stockholm-based home energy startup Elvy has secured €500 million in financing from Scayl and one of the fintech’s bank partners to expand its residential energy offering in Sweden. The company provides homeowners with solar panels, heat pumps and battery systems through a subscription model that covers installation, maintenance and energy optimisation, removing the need for large upfront investments. Elvy says the systems are managed by its own software to balance household energy production and consumption. The new financing will be used to increase deployment capacity, with the aim of equipping around 15,000 households as electricity prices remain volatile and demand for alternative energy solutions grows.

https://arcticstartup.com/elvy-raises-e500-million/

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