Eniram takes in a significant boost from Conor Venture Partners

March 27th 2008
Miikka Kukkosuo

EniramEniram received a major investment from Conor Venture Partners earlier this month. The exact amount was not disclosed, but it’s believed to be around €1 million (major by Finnish standards). The purpose of the investment is to strengthen Eniram’s marketing and sales operations in order to expand globally.

Eniram was founded in 2005 as a spin-off from US-based engineering consultant Edec, which remains a partner to Eniram. Eniram focuses on the maritime industry, providing system integration solutions allowing its customers to save costs and lower emissions through lower fuel consumption. The team reportedly has a great deal of knowledge of the industry and software development. The rumor also has it that Pekka Roine from Conor joined Eniram’s board, bringing the company extensive experience of running technology and software business.

Press release.

Axel Technologies gets venture funding

February 7th 2008
Miikka Kukkosuo

Nexit VenturesNexit Ventures, a venture capital firm stating to offer Nordic mobile companies a bridge to Silicon Valley markets, has announced an investment in Axel Technologies, a Finnish developer of mobile TV technologies. Other investor in the funding round led by Nexit is the company’s existing investor, a government-owned investment company Finnish Industry Investment Ltd. According to ITviikko the round was worth over one million euros.

Axel TechnologiesAxel Technologies will use the financing to growth and internationalization, focus being on developing sales, marketing, and customer support.

The company provides mobile TV middleware and client solutions, and is targeting to get on the wave of first commercial digital mobile DVB-H standard TV services expected to be launched in Europe during 2008. So far there have been only 3G-based services available.

According to Pekka Salonoja, General Partner, Nexit Ventures, Axel Technologies is already one of top five developers of mobile TV middleware globally, customers including AMD and Thomson. Potential clients for the firm are mobile phone manufacturers, semiconductor suppliers, and mobile operators.

Nexit Ventures’ press release.

Teemu Selänne, the unknown VC

January 18th 2008
Antti Vilpponen

Teemu Selänne - flickr photo, David M*Teemu Selänne, the NHL hockey player, has cashed in on the MySQL deal, where Sun Microsystems acquired MySQL for a billion dollars.

Teemu had invested about 330 000 euros seven years ago into Holtron Capital Fund I, which is managed by Inventure Oy, according to the Finnish Venture Capital Association. The exit value for Teemu’s initial investment was worth just over 1 million euros, according to Ilta-Sanomat.

Congrats to Teemu!

Aegis Group acquires Whitesheep

January 10th 2008
Antti Vilpponen

Aegis logoAegis Groups Isobar has acquired White Sheep from Finland. White Sheep has assets of 0.7M€. The investment amount was not disclosed.

White Sheep will be re-branded as Suddenly Helsinki, becoming part of Isobar’s Suddenly network. Suddenly has offices in Stockholm, Oslo, Gothenberg and Copenhagen.

Full press release available here.

Vailoma secures seed financing

January 7th 2008
Antti Vilpponen

Vailoma logoVailoma Oy, a company enabling community generated guides and tips for travel planning, has secured seed financing from Valve Branding Oy and Veraventure. The amount invested was not disclosed.

Vailoma offers currently over 260.000 destinations, cities, sights and so forth to help make decisions on the next travel destination. The content is gathered from all over the internet and filtered by the community. You build up a profile to enable suggestions based on what kind of holidays and travels you enjoy.

Valve Branding, which also invested in Jaiku, wants to seek new investments in the area of internet startups. “Valve sees Vailoma as an interesting opportunity to participate in the development of an interesting web service. We received some experience with Jaiku and this time we wanted to be a more active”, says Toni Laturi from Valve.

The investement is aimed towards internationalisation and the launch of the service (it is currently in private beta). Vailoma is also recruiting - web developers and GUI designers.

Update: Apparently Valve did not invest in Jaiku and therefore the information above was false.