\Finnish startups startups and scaleups to watch in 2021

Home to one of Europe’s preeminent startup conferences, Slush, Finland has a fast-growing startup ecosystem.

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So far this year Finnish startups have raised €1bn from VC funds, more than the €1bn in all of 2020.

But which are the most exciting startups and scaleups? Which are the ones to watch in 2021?

Our team of experts at Sifted have chosen a list of exciting companies we think you need to know about, with an added ‘Sifted take’ on some to provide an extra layer of insight.

It’s a mixture of the big and the small, the well known and the under the radar. But all are making waves. Keep reading below and stay informed about Europe’s new economy!

(P.S The data is from European Startups, with valuation estimates from Dealroom. If there is anyone missing from this list, or anything is wrong, please let us know by email at [email protected]).

Key

Year founded

Amount raised

Last funding round

Valuation

Employees

Wolt's logo

Wolt

A technology company that makes it incredibly easy to discover and get great food delivered

Helsinki, Finland

748m

€1.9-2.9bn

1000-5000

Volare's logo

Volare

High-quality ingredients for feed, pet food and cosmetics.

Uusimaa, Finland

0.7m

€3-€4m

1-10

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Yousician's logo

Yousician

Revolutionary platform to learn and play music

Helsinki, Finland

28.7m

€102-€153m

100-500

ultimate.ai's logo

ultimate.ai

A platform giving customer service agents the AI-tools they need to provide faster, smarter responses

Helsinki , Finland

25.8m

€73-€109m

50-100

The Upright Project's logo

The Upright Project

Building incentives for companies to optimize their net impact

Helsinki, Finland

0m

-

10-50

Pixieray 's logo

Pixieray

The Perfect Vision Company

Espoo, Finland

4m

€16-€24m

1-10

Oura Health's logo

Oura Health

An award-winning wellness ring and app, designed to help you get more restful sleep and perform better

Oulu, Finland

140m

€364-€545m

100-500

IQM's logo

IQM

Builds quantum computers

Espoo, Finland

67.5m

€156-€234m

50-100

Glue's logo

Glue

A universal collaboration platform for virtual, face-to-face like collaboration for organizations and teams working around the world

Helsinki, Finland

3.5m

€14-€21m

10-50

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Flowhaven's logo

Flowhaven

Flowhaven - The Most Intuitive Brand Licensing Software

Espoo, Finland

19.3m

€58-€87m

50-100

Fiksu Ruoka Oy's logo

Fiksu Ruoka Oy

Challenges traditional grocery market by selling surplus batches of food with large discounts in web store

Espoo, Finland

21m

€76-144m

10-50

Infinited Fiber Company's logo

Infinited Fiber Company

IFC’s technology enables manufacturing of cotton-like new fiber from mixed post-consumer textile waste. Process can also be fed with other cellulose-based materials like cardboard or agricultural waste.

Espoo, Finland

35.2m

€109-€164m

10-50

Solar Foods Oy's logo

Solar Foods Oy

Uses renewable electricity, water and air to produce natural protein

Helsinki, Finland

35.1m

€75m

10-50

Relex Solutions's logo

Relex Solutions

Supply chain management and predictive analytics software provider

Helsinki, Finland

203.23m

€409m

500-1000

Aiven's logo

Aiven

Aiven - Your Database in the Cloud

Helsinki, Finland

136m

€364-€545m

100-500

Aiforia Technologies 's logo

Aiforia Technologies

Aiforia Tech is developing intelligent, cloud-based deep learning image analysis solutions for digital pathology

Helsinki, Finland

33.6m

€101-€151m

10-50

ICEYE's logo

ICEYE

Develops micro-satellites used to capture images from the space

Espoo, Finland

123m

€296-€444m

100-500

Kodit.io's logo

Kodit.io

An AI-powered residential real estate data platform

Helsinki, Finland

114m

€48-€72m

50-100

AlphaSense's logo

AlphaSense

Semantic financial search engine for investment professionals

New York, United States

78.77m

€182-€273m

100-500

Whim's logo

Whim

A hassle-free and environmentally sound alternative to private car ownership

Helsinki, Finland

54.9m

€118-€177m

50-100

Canatu's logo

Canatu

Developer and manufacturer of transparent conductive films and touch sensors

Helsinki, Finland

53.77m

€60-€90m

10-50

Varjo Technologies's logo

Varjo Technologies

Bionic display technology that allows users to see VR in human-eye resolution

Helsinki, Finland

46m

€184-€275m

100-500

Supermetrics's logo

Supermetrics

Automation tools for web analytics, social media and online marketing

Helsinki, Finland

43.5m

€160-€240m

100-500

Swappie's logo

Swappie

Swappie | Refurbished and affordable iPhones with 12 months warranty

Helsinki, Finland

41.8m

€145-€218m

100-500

EPassi Payments Oy's logo

EPassi Payments Oy

Offers an electronic means of payment for employee benefits

Helsinki, Finland

41.5m

10-50

Enevo's logo

Enevo

Provides smart logistics solutions that saves time, money and the environment by using wireless sensors

Espoo, Finland

37.12m

€44-€65m

10-50

HappyOrNot's logo

HappyOrNot

Guaranteed Customer & Employee Satisfaction Improvement

Tampere, Finland

36.6m

€91-€136m

100-500

Swap.com's logo

Swap.com

Marketplace for secondhand items

Helsinki, Finland

30.39m

€73-€109m

50-100

Virta's logo

Virta

Provide leading-edge smart charging services for EV drivers and companies alike with a vision of a clean, carbon-free future with silent EVs driving emission-free down the street

Helsinki, Finland

30m

€120—180m

100-500

Robocorp's logo

Robocorp

Cloud platform for robotic process automation (RPA) and open source RPA tools

San Francisco, United States

29.6m

€76-€115m

10-50

Ductor's logo

Ductor

Groundbreaking Biotech Innovation Changes The World

Helsinki, Finland

25m

€55m

50-100

Dispelix's logo

Dispelix

Internationally leading company specialized in augmented reality display modules and waveguides

Espoo, Finland

23.7m

€60M

50-100

Jolla's logo

Jolla

Designer and developer of mobile devices and open Sailfish OS

Helsinki, Finland

23.09m

€44-€65m

50-100

Tesseract's logo

Tesseract

Providing digital asset management solutions focused on investing, portfolio management, capital markets, and blockchain technology

Helsinki, Finland

22.7m

€91-€136m

10-50

IndoorAtlas's logo

IndoorAtlas

Locating people or objects inside a building using radio waves, magnetic fields, acoustic signals or other sensory information

Helsinki, Finland

22.21m

€14-€22m

10-50

UpCloud's logo

UpCloud

World's fastest cloud servers

Helsinki, Finland

22.14m

€16-€24m

50-100

Wirepas's logo

Wirepas

Connects devices and applications to the Internet

Tampere, Finland

22.14m

€59-€88m

50-100

Sulapac's logo

Sulapac

Biodegradable wood-based material innovation designed to replace traditional plastic

Helsinki, Finland

€21m

€60-€90m

10-50

Midaxo's logo

Midaxo

Cloud platform to run M&A and other processes

Helsinki, Finland

19.51m

€58-€87m

50-100

Norsepower oy ltd's logo

Norsepower oy ltd

Provider of push button auxiliary wind propulsion

Helsinki, Finland

18.5m

€32-€48m

10-50

Happeo's logo

Happeo

The community-powered employee communications platform

Helsinki, Finland

18.2m

€44-€65m

50-100

Enfuce's logo

Enfuce

Enfuce – A new kind of financial service provider without legacy and focusing on the future possibilities within payments

Espoo, Finland

17m

€28-€42m

50-100

Zapper's logo

Zapper

The ultimate hub for managing DeFi assets & liabilities. Zapper Exchange is a DEX aggregator powered by 0x API, sourcing the best trading rates in DeFi across 20+ liquidity sources

Helsinki, Finland

15m

€55—82m

10-50

ZenRobotics's logo

ZenRobotics

Robotic recycling systems

Helsinki, Finland

14.91m

€52-€78m

50-100

Nosto's logo

Nosto

E-commerce platform providing product recommendations based on individual behavioral data

Helsinki, Finland

14.27m

€27-€40m

100-500

Haltian's logo

Haltian

Brings wireless technologies to new frontiers, creatively realizing any mobile and sensor technology need

Oulu, Finland

13.8m

€18-€27m

100-500

Zervant's logo

Zervant

Zervant Oy develops and publishes invoicing software

Espoo, Finland

13.7m

€24-€36m

10-50

Freska's logo

Freska

On-demand online home cleaning

Helsinki, Finland

12.45m

€42-€63m

100-500

Meru Health's logo

Meru Health

We are on a mission to improve the lives of people living with depression

Helsinki, Finland

12.4m

€29-€44m

100-500

Grand Cru's logo

Grand Cru

Developer of free to play iOS games

Helsinki, Finland

11.82m

€40-€60m

1-10

Vaadin's logo

Vaadin

Java framework for building modern web applications

Turku, Finland

10.5m

€20-€30m

100-500

Brella's logo

Brella

Simple event networking software

Helsinki, Finland

10.3m

€36—55m

50-100

Bob W's logo

Bob W

Offers apartments with hotel-like features in the trendiest districts, designed for the global citizen

Helsinki, Finland

10m

€24—36m

10-50

Silo.AI's logo

Silo.AI

Largest private AI lab in the Nordics

Helsinki, Finland

10m

€40-€60m

100-500

Edzcom's logo

Edzcom

Finnish mobile data operator

Helsinki, Finland

9.8m

€39-€59m

10-50

Critical Force's logo

Critical Force

Developer of Critical Ops - a popular esports game

Kajaani, Finland

9.73m

€16-€24m

50-100

Smarp's logo

Smarp

Enter the modern world of employee communication! Smarp helps employees to share knowledge with their colleagues and external social media networks

Helsinki, Finland

9.43m

€17-€25m

50-100

HumanCharger's logo

HumanCharger

Light therapy headset that delivers light to the photosensitive receptors in the brain through the ear canal.

Oulu, Finland

9.22m

€35-€53m

1-10

Basemark Oy's logo

Basemark Oy

Development tools for the next generation of autonomous and connected vehicles

Helsinki, Finland

€9m

€28-€42m

50-100

Frosmo's logo

Frosmo

ECommerce growth management software and service company

Helsinki, Finland

8.5m

€34-€51m

10-50

Confidex's logo

Confidex

Confidex is the world’s leading supplier of high-performing contactless ticketing and RFID tag solutions.

Tampere, Finland

8.42m

€14-€21m

50-100

Lightneer's logo

Lightneer

The next generation learning games

Helsinki, Finland

8.14m

€18-€27m

10-50

Metacore's logo

Metacore

Develops adventure games for Apple Watch

Helsinki, Finland

8.01m

€20-€30m

10-50

Matchmade's logo

Matchmade

Intelligent mobile game influencer marketing

Helsinki, Finland

7.8m

€4-€6m

10-50

Naava's logo

Naava

Global leader in biopurifying smart green walls, on a mission to reconnect humanity with nature. Green, impact, deep tech company operating in three continents

Helsinki, Finland

7.4m

€9-€13m

50-100

Zadaa's logo

Zadaa

Connects you to people with similar size and style to buy and sell clothes that fit

Helsinki, Finland

7.4m

€16-€24m

10-50

Swarmia's logo

Swarmia

Data-driven superpowers for software teams

Helsinki, Finland

7.3m

€29-€44m

10-50

QuietOn's logo

QuietOn

Active noise cancellation earplugs

Kempele, Finland

6.9m

€18-€27m

10-50

6.2m

€23—34m

1-10

Bonusway's logo

Bonusway

E-commerce loyalty program

Helsinki, Finland

6.01m

€15-€22m

10-50

Eficode's logo

Eficode

DevOps transformation advisory and DevOps technologies

Helsinki, Finland

6m

€42-€60m

100-500

Neuro Event Labs Oy's logo

Neuro Event Labs Oy

Established to productize epilepsy seizure monitoring system as a service.

Tampere, Finland

5.9m

€16-€24m

10-50

Kaiku Health's logo

Kaiku Health

Digital solution provider for data-driven, personalized health care

Helsinki, Finland

5.45m

€18-€26m

50-100

Blok's logo

Blok

Automating the process of selling real estate.

Helsinki, Finland

5m

€14-€21m

50-100

Digital Workforce Nordic Oy's logo

Digital Workforce Nordic Oy

Robotic Process Automation

Helsinki, Finland

5m

€13-€19m

100-500

LeadDesk's logo

LeadDesk

Makes Europe's greatest telesales software for companies

Helsinki, Finland

5m

€20-€30m

100-500

Leadfeeder's logo

Leadfeeder

Know more about your website visitors and convert promising visitors into sales leads

Helsinki, Finland

4.38m

€12-€19m

100-500

FORCIOT's logo

FORCIOT

High-quality sensor-based iot solutions and provide related integration services

Tampere, Finland

4m

€16-€24m

10-50

OptiWatti's logo

OptiWatti

Fully automated system to optimize the heating at households or small offices

Espoo, Finland

4m

€16-€24m

1-10

Cyberlightning's logo

Cyberlightning

Market leader in 3D internet technologies

Oulu, Finland

3.82m

€15-€23m

1-10

Loupedeck's logo

Loupedeck

Loupedeck | The photo editing console

Helsinki, Finland

3.8m

€6-€9m

10-50

EatAndTheCity's logo

EatAndTheCity

White label software solution for finding and booking restaurants

Helsinki, Finland

3.3m

€13-€20m

10-50

Paptic's logo

Paptic

Paptic is manufacturing company that revolutionizes environmental new material, wood-based renewable and recyclable products

Espoo, Finland

3.3m

€4-€7m

10-50

Disior Oy's logo

Disior Oy

Analyses and modesl bone fractures and soft tissue

Helsinki, Finland

2.3m

€7-€10m

10-50

Originalrepack's logo

Originalrepack

Reusable and returnable delivery packaging service for e-commerce

Helsinki, Finland

2.3m

€0.20-€0.30m

10-50

Singa's logo

Singa

Karaoke service that allows the users to sing online using mobile, desktop browser and Smart TV

Helsinki, Finland

2.3m

€7-€11m

10-50

Revonte's logo

Revonte

Revonte is creating a new revolutionary drive system for e-bikes

Tampere, Finland

2.22m

€7-€11m

10-50

Hei Schools's logo

Hei Schools

An international preschool concept based on the Finnish educational expertise and Nordic approach to education

Helsinki, Finland

2m

€8—12m

10-50

Front AI's logo

Front AI

Front AI has created the next generation of AI-based customer service bots

Helsinki, Finland

1.7m

€2-€3m

10-50

Valohai's logo

Valohai

Machine learning platform-as-a-service

Turku, Finland

1.64m

€7-€10m

10-50

Linear's logo

Linear

The issue tracking tool you'll enjoy using

Helsinki, Finland

1.6m

€4-€7m

10-50

Venuu's logo

Venuu

Event space search service

Helsinki, Finland

1.3m

€3-€5m

10-50

Brinter's logo

Brinter

BioPrinting Solutions - Brinter™ Bioprinter - The Future of 3D BioPrinting

Turku, Finland

1.2m

€5—7m

1-10

Comptek Solutions's logo

Comptek Solutions

Boost III-V compound semiconductors

Turku, Finland

1m

€2-€3m

10-50

Geyser Batteries Oy's logo

Geyser Batteries Oy

Geyser Batteries developed water-based high-performance batteries

Vaasa, Finland

1m

€4-€6m

1-10

EntoCube's logo

EntoCube

Aims to revolutionize sustainable food production by insect farming technology

Espoo, Finland

0.6m

€1m

10-50

Gubbe's logo

Gubbe

A new kind of non-medical care for the elderly that keeps the elderly active and helps with everyday tasks

Espoo, Finland

0.3m

€1-€2

50-100

Everfill's logo

Everfill

Dermal Regeneration Care

Helsinki, Finland

0.05m

-

1-10

Noiseless Acoustics Oy's logo

Noiseless Acoustics Oy

Noiseless Acoustics

Helsinki, Finland

0m

-

10-50

Arilyn's logo

Arilyn

Augmented Reality solution that has the power to change any physical surface into a digital media

Helsinki, Finland

-m

-

10-50

Bluefors's logo

Bluefors

Specializes in cryogen-free, ultra-low temperature dilution refrigerator systems aiming to supply the highest possible quality products

Helsinki, Finland

-m

-

100-500

BrandBastion's logo

BrandBastion

BrandBastion - Protecting your reputation on social media 24/7

Helsinki, Finland

-m

€16-€25m

100-500

Glucomodicum's logo

Glucomodicum

Creating technology and products for needle-free health and biomarker monitoring

Helsinki, Finland

-m

-

10-50

MJUK's logo

MJUK

Mjuk is a modern marketplace for buying and selling quality second-hand furniture in the most hassle-free way possible

Helsinki, Finland

-m

-

10-50

Uros's logo

Uros

Global connectivity solutions | UROS

Oulu, Finland

-m

€1m

50-100

Vainu's logo

Vainu

The leading company data platform in the Nordics.

Helsinki, Finland

-m

-

100-500

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