\The Nordic startups and scaleups to watch in 2021

\The Nordic startups and scaleups to watch in 2021

Nordic countries received €5bn in venture capital in 2020. Which which are the companies to watch in 2021?

The Nordics are a startup powerhouse.

First there came Spotify and Supercell. Then came names like fintech giant Klarna, oat milk brand Oatly and battery developer Northvolt.

Covid-19 also opened up opportunities for a host of Nordic startups to move into US markets, such as Oura Health — the wellness ring used by Prince Harry and the Silicon Valley elite.

So what’s coming up next for the region, and which startups are going places this year?

Our team of experts at Sifted have selected more than 100 companies we think you need to know about.

(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

Klarna's logo

Klarna

Payment solutions for online stores and 'Buy Now Pay Later' provider

fintech / payments

klarna.com

Stockholm, Sweden

2005

€3,100m

GROWTH EQUITY

€9.6bn

1000-5000

Northvolt's logo

Northvolt

Lithium-ion batteries

energy / energy storage

northvolt.com

Stockholm, Sweden

2016

€4,000m

GROWTH EQUITY

€3bn

500-1000

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Oda (previously Kolonial)'s logo

Oda (previously Kolonial)

Offers same-day or next-day delivery of food, meal kits and home essentials

food logistics & delivery / marketplace & ecommerce

oda.com/no

Oslo, Norway

2013

€338m

LATE VC

€750m

100-500

Tink's logo

Tink

Tink Technology enables banks to create next-generation banking services, including account aggregation, payment initiation and PFM

fintech / banking

tink.com

Stockholm, Sweden

2012

€285m

LATE VC

€680m

100-500

Voi Technology's logo

Voi Technology

Sharing service for electric vehicles

transportation / vehicle production

voiapp.io

Stockholm, Sweden

2018

€278m

SERIES C

€388—581m

100-500

Kahoot!'s logo

Kahoot!

Inspiring educational games for skills training and professional development

gaming / education

getkahoot.com

Oslo, Norway

2012

€274m

PRIVATE PLACEMENT

€2.2bn

100-500

Wolt's logo

Wolt

A food delivery platform that connects hungry customers with great restaurants and eager couriers

food / logistics & delivery

wolt.com/en

Helsinki, Finland

2014

€748m

LATE VC

€1.9-2.9bn

1000-5000

Lendify's logo

Lendify

A digital bank challenger that gives borrowers fair conditions with lower interest rates and savers higher returns

fintech / mortgages & lending

lendify.se

Stockholm, Sweden

2014

€256m

LENDING CAPITAL

€182m

50-100

Kry's logo

Kry

Consult a doctor online

health / health platform

kry.se

Stockholm, Sweden

2014

€511m

SERIES D

€560-840m

500-1000

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Vivino's logo

Vivino

Online wine marketplace

marketplace & ecommerce / food

vivino.com

Copenhagen, Denmark

2010

€192m

SERIES D

€636m

100-500

Mathem's logo

Mathem

Online grocery shopping site in Sweden

food logistics & delivery / marketplace & ecommerce

mathem.se

Stockholm, Sweden

2009

€164m

DEBT

€266m

500-1000

Aiven's logo

Aiven

Fully-managed open source data infrastructure immediately deployable in public clouds

enterprise software / B2B

aiven.io

Helsinki, Finland

2016

€136m

SERIES C

€800m

100-500

Iceye's logo

Iceye

Develops micro-satellites used to capture images from space; the Aalto University spin-off

robotics / AI

iceye.com

Espoo, Finland

2015

€123m

SERIES C

€296-444m

100-500

Lunar's logo

Lunar

Digital banking for the millennial generation

banking / mobile app

lunar.app/en

Aarhus, Denmark

2015

€108m

SERIES C

€160-240m

100-500

Labster's logo

Labster

Revolutionising life science education with virtual reality and virtual laboratories

media / VR

labster.com

Copenhagen, Denmark

2011

€95m

SERIES C

€218-327m

100-500

Instabox's logo

Instabox

Parcel delivery service with smart locker

logistics and delivery / transportation

instabox.se

Stockholm, Sweden

2015

€94m

SERIES B

€327-491m

100-500

NA KD's logo

NA KD

Focusing on providing a unique ecommerce experience like no other for women across the globe

fashion / marketplace & ecommerce

na-kd.com

Gothenburg, Sweden

2015

€132m

LATE VC

€220m

100-500

Truecaller's logo

Truecaller

Mobile app that allows the user to see the identity of the caller and block spam calls

telecom / mobile app

truecaller.com

Stockholm, Sweden

2009

€91m

LATE VC

€22-33m

100-500

Varjo's logo

Varjo

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

VR / manufacturing

varjo.com

Helsingfors, Finland

2016

€84m

SERIES C

€184-275m

100-500

Budbee's logo

Budbee

Helps transportation companies keep track of their deliveries

logistics and delivery / ecommerce solutions

budbee.com

Stockholm, Sweden

2015

€76m

LATE VC

€297m

100-500

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