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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08/01/2026

Norway’s Spoor closes €8M Series A as biodiversity compliance tightens for wind developers

Oslo-based Spoor has raised €8 million in Series A to scale its AI-powered wildlife monitoring software for wind farms, as biodiversity compliance becomes a growing constraint for global wind development. The round was led by SET Ventures, with participation from EnBW New Ventures, Ørsted Ventures and Superorganism, alongside existing Nordic backers including Futurum Ventures and Norway’s state-owned climate fund Nysnø. Spoor develops real-time bird and bat detection software that uses computer vision and off-the-shelf cameras to integrate directly with wind farm control systems, enabling automated mitigation and shutdown decisions. The new funding will be used to expand internationally, deepen integrations with turbine control platforms, and grow the team across engineering, sales and deployment as the company moves from early deployments into long-term operational contracts with major wind developers.

https://arcticstartup.com/spoor-raises-e8-million-series-a/

08/01/2026

With €30M+ Series B, Danish Bactolife prepares shift from R&D to commercial scale

Copenhagen-based Bactolife has raised more than €30 million in a Series B round to move its Binding Protein technology from development into commercialization, as the company prepares for its first human health product launch in the US in 2026. The round was led by Cross Border Impact Ventures and EIFO, with continued backing from existing investors Novo Holdings and Athos. Founded in Copenhagen, Bactolife develops food-grade Binding Proteins designed to bind and neutralize harmful metabolites in the gut, targeting applications across dietary supplements, functional foods, and animal health.

The fresh capital will be used to fund large-scale human studies, scale manufacturing via precision fermentation, and support global market entry, with expansion into Europe and Asia planned after the US launch. Alongside its commercial ambitions, the company says it will allocate resources to make the technology accessible to women and children in low- and middle-income countries, positioning Binding Proteins as both a growth product and a global health intervention.

https://arcticstartup.com/bactolife-raises-over-e30m-series-b/

Credit: jeppe carlsen

08/01/2026

Swedish Lumera targets UK growth with acquisition of pensions advisory firm Acuity

Stockholm-based Lumera has acquired UK-based consultancy Acuity to deepen its footprint in the UK and accelerate growth across the Life and Pensions sector, particularly within public sector schemes. The deal brings Acuity’s long-standing relationships with major clients such as NHS and Civil Service pension schemes, alongside its expertise in pensions policy, programme delivery and behavioural insight, into Lumera’s technology-led insurtech platform. Post-acquisition, Acuity will be fully integrated into Lumera’s UK operations, expanding the local team to around 165 employees and strengthening Lumera’s ability to combine software, advisory and change management services for large-scale pension providers.

https://arcticstartup.com/lumera-acquired-acuity/

07/01/2026

Danish Nordic Salt Cycle secures €3.5 million to advance molten salt recycling process

Copenhagen-based startup Nordic Salt Cycle has raised €3.5 million in pre-seed funding from EIFO, alongside existing investor The Footprint Firm and Germany-based Ananda Impact Ventures, to develop a molten salt-based process for recovering critical minerals from end-of-life products. The company is working on a modular technology designed to extract materials such as lithium, cobalt and rare earth elements from sources including electric vehicle batteries, wind turbines and electronics. The funding will be used to advance its prototype, run pilot projects starting with EV batteries, and assess how the technology can be applied to additional waste streams, as Europe seeks to reduce reliance on imported critical raw materials.

https://arcticstartup.com/nordic-salt-cycle-raises-e3-5-million-in-pre-seed/

07/01/2026

Finland’s Aisti raises €20 million in venture debt to bring wood-fibre acoustic tiles to scale

Jyväskylä-based materialtech startup Aisti has secured a €20 million venture debt loan from the European Investment Bank under the InvestEU programme to scale production of its bio-based acoustic ceiling tiles. The financing will fund the expansion of Aisti’s manufacturing facility in Kitee, enabling the company to double its planned annual capacity to 2.5 million square metres ahead of commercial production starting in the second half of 2026. Part of the capital will also be channelled into R&D to further improve the tiles’ acoustic performance and fire resistance, supporting broader European market entry. Made from patented wood-fibre technology, Aisti’s mineral-wool-free tiles target commercial and public buildings, positioning the company at the intersection of sustainable construction, indoor air quality, and the EU’s circular economy ambitions.

https://arcticstartup.com/aisti-raises-e20-million-eib-loan/

07/01/2026

Swedish Sigrid raises $5M to accelerate U.S. growth and expand non-systemic metabolic health platform

Stockholm-based Sigrid has raised $5 million in new funding, bringing its total capital to around $27 million, as it doubles down on U.S. expansion and platform development in metabolic health. The round drew participation from a mix of existing backers and new international investors, signaling continued confidence in the company’s clinically validated, non-systemic approach to blood sugar and weight management. Sigrid develops science-backed consumer health solutions built on its patented SiPore® technology. The fresh capital will be used to accelerate commercial growth in the U.S., advance regulatory milestones in Europe, and expand the SiPore® platform into new verticals including oral care, veterinary health, and food technology.

https://arcticstartup.com/sigrid-raises-5m/

06/01/2026

Norway’s REEN buys AI specialist Bintel, expands smart waste footprint in Sweden

Norwegian smart waste management company REEN AS has acquired Swedish AI specialist Bintel AB in a cross-border deal aimed at building the Nordics’ most comprehensive digital waste platform. While financial terms were not disclosed, the acquisition is backed by growth capital earmarked for product integration and regional expansion, bringing together REEN’s sensor-driven logistics and fleet optimisation tools with Bintel’s AI-powered analytics platforms used by municipalities and property owners. Following the transaction, Bintel will be rebranded as REEN AB and serve as the group’s Swedish hub, with its Insight, Brain, and Go products integrated into REEN’s core software stack. The combined company plans to use the acquisition to deepen its presence in Sweden, accelerate deployment of data-driven waste services across the Nordics, and move closer to its target of managing hundreds of thousands of connected waste assets, positioning itself as a key infrastructure player in smart cities and circular economy initiatives.

https://arcticstartup.com/reen-acquired-bintel/

06/01/2026

$20M seed backs Swedish Endra’s bid to speed up building engineering

Stockholm-based Endra has raised a $20 million seed round led by Notion Capital, with strong participation from Norrsken VC, just six months after closing its pre-seed. Founded to automate one of construction’s most time-intensive bottlenecks, Endra builds an AI-powered platform that converts architectural 3D models directly into fully designed, code-compliant MEP systems—covering electrical, ventilation, fire safety and cabling—compressing months of manual engineering work into hours. The new funding will be used to scale its engineering and AI teams, expand internationally with new offices, and accelerate product development as it begins onboarding customers from a global waitlist that has grown rapidly since launch, reflecting mounting pressure on the construction sector to deliver faster, more predictable and lower-carbon projects at scale.

https://arcticstartup.com/endra-raises-20-million-seed/

Credit: Albin Händig

06/01/2026

Danish AI startup Cordulus secures €6.8 million to expand beyond agriculture

Aarhus-based Cordulus has raised €6.8 million in Series A funding to expand its AI-driven, hyperlocal weather forecasting technology into the energy sector, where forecast precision is increasingly critical for trading and risk management. The round includes a first investment from Delphinus Venture Capital, backed by institutional and industrial investors, alongside continued support from existing shareholders such as Danish Agro. Cordulus operates one of Europe’s largest professional weather station networks and uses real-world climate data to train large-scale AI models already deployed across agriculture in more than 20 countries. The new capital will be used to tailor its forecasting products for wind and solar energy markets, strengthening data pipelines, model accuracy, and commercial reach as weather volatility becomes a material factor in energy pricing and portfolio optimization.

https://arcticstartup.com/cordulus-raises-e6-8-million-series-a/

06/01/2026

Finnish startup Bahn Express secures €5 million to scale cross-border car transport

Helsinki-based Bahn Express has raised €5 million in a funding round led by node.vc, with participation from existing backers Trind VC and Innovestor, alongside a group of angel investors including Wolt CPO Vincent Ho-Tin-Noe. Founded in 2024, Bahn Express operates a digital automotive logistics platform that connects car dealerships, rental firms, and leasing companies with a network of freelance drivers, cutting vehicle transport times across Europe from weeks to just a few days. The fresh capital will be used to scale operations across key EU markets such as Germany, Denmark, Poland, and Sweden, build local market teams, and expand product and engineering capabilities from its Helsinki headquarters as the company positions itself as a faster alternative to traditional truck-based car transport.

https://arcticstartup.com/bahn-express-raises-e5m/

05/01/2026

Finnish cleantech company Filtrabit lands €2 million anchor investment to expand industrial emissions technology

Oulu-based cleantech company Filtrabit has secured a €2 million funding commitment from investment vehicle Ajanta Innovations 2 Ky ahead of its upcoming financing round. The commitment anchors the round and will support Filtrabit’s international expansion following the commercial validation of its modular industrial dust extraction technology in Finland. The company develops systems that capture and recycle fine industrial microparticles from gas streams, reducing emissions while enabling raw material reuse. Proceeds from the round, together with earlier financing, will be directed primarily toward scaling operations and market entry in the Nordics, Central Europe and India, as well as advancing product deployment through its R&D operations in Oulu.

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

05/01/2026

Danish fintech Sumary secures $4.2 million to automate finance workflows with AI

Copenhagen-based fintech startup Sumary has raised a $4.2 million pre-seed round to build AI-native infrastructure for bookkeepers and finance teams, in what the company says is one of the largest Danish rounds at this stage. The funding was led by byFounders, with participation from Partech, Tenity, and angel investors including Morten Primdahl (Founder Zendesk), Christian Rasmussen (Founder Roger), Bjarke Klinge Staun (Creandum), Mark Ransford (FinTech Angel), and Michael Thomsen (Blazar, Axcel). Sumary is developing an AI-first finance workflow engine that automates transaction handling, detects anomalies, and answers complex financial questions by interpreting ledger-level data across systems. The company plans to use the capital to accelerate product development, expand into European markets, and grow its engineering and AI teams, while working closely with accounting firms as design partners to refine its automation and intelligence capabilities.

https://arcticstartup.com/sumary-raises-4-2m-pre-seed/

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