Gotta love Finland, as even private companies publish their financials yearly and we get a sneak peak at how Supercell is doing. It is no doubt that they were making a lot of money, especially with some guesses thanks to the recent hack.
Helsinki based VC Vision+ has set their eyes on China where big dreams, if successful, turn into even bigger profits. Last year they hit our news with a fresh €50 million to pump into promising companies. Their more than colorful portfolio includes everything from Manga distribution to movies starred by Samuel L Jackson.
Big exit news in the Baltics: Lithuania-founded GetJar has reportedly been acquired by Sungy Mobile Limited, a Chinese company behind Go for Android and a top publisher of applications on the Google Play store. The news broke over at GigaOm, and according to their sources, Sungy paid over $50 million for the company. GetJar has raised $42 million since being founded in 2004.
Today we're really excited to announce our conference, Arctic15: Exit Path.
Taking place just before the start of summer on May 27th and 28th in Helsinki, ArcticStartup and our event friends at NiceUp are putting the right people together in the room with an solid program designed to provide our readers and our region with value.
Finnish Industry Investment has raised a total capital of €130 million is the first closing of their new FoF Growth II fund. Major contributions totaling up to €70 million include Ilmarinen, Keva, Elo and the State Pension Fund.
The FoF Growth fund will invest in approximately 10 funds between the years 2014-2018. Evaluations from the the previous fund, the FoF Growth I, give these funds the potential to go as high as €1 billion in value.
3D printing is far from being science-fictional these days, quite on the contrary, its evolving as a technique through technological breakthroughs and its one the fastest growing markets out there. 3D printing has shifted from prototypes to actual manufacturing, with companies like Lithuanian CGTrader in the front line to make three dimensional product design globally more available.
One thing that many startup founders do not think about are the legal costs of closing a seed round. Why is this significant? Because it can end-up being a much higher proportion of the deal than you can imagine. For instance we wrote earlier about Dexplora, a company where the legal costs of the round were higher than the total cost of producing the app and the system. Not surprisingly then, the co-founder of Dexplora (now Brisk.io), Hampus Jakobsson is one of the investors in DealCircle, a company that is aiming to solve this very problem.
The variety of data out there is colorful, but most personal data comes in the form of emails, private messages in social media or simply work related files stored in clouds and hardware. In a great majority of these cases, online personal data and information is accessed with passwords, which are usually memorized by the users themselves. Considering the sheer amount of service providers out there, it may very well be that you are in possession of several different passwords (unless you use the same password for everything, which isn’t a good idea). This can prove to be troublesome; most us of know what forgetting a password feels like. That’s problem number one.
If I told that there is a brand new startup that puts an app on your phone that forces you to answer surveys, while giving you a few euro's as a reward, would you think that this can potentially a huge success in the future? Probably not. Yet, this is exactly what I am going to argue for a Finnish based Palmopinion.
We’ve covered 23 and their complete video content management service in the past and been impressed by their simple price plan and with the quality of the analytics that get returned to marketeers. Yesterday they released a new free feature they have added to their service called Actions that they say will make their videos more interactive.
Simulation games have gone a long journey from simple 70's evolution simulators, such as John Conway’s Game Of Life, to flight control simulators, like the 747 training cockpits for future pilots. The purpose of simulation is simple; to virtually create life-like conditions for educational purposes (and recreational I guess). The benefits? Risk factors are zero, as no actual damage can be done, which helps users to learn from mistakes and success alike.
One of the key issues with equity crowdfunding is the unpredictability of an exit. Sure, you can probably ten fold your money once in a while, but how long will that take? Five, ten years? Now if you are investing the Invesdor minimum of EUR 20, then you will get EUR 200 back with a ten fold exit. Is it worth to wait the ten years to get your 180 EUR? For a lot of people - probably not.
Startup Erghis just announced a crowdfunding campaign, with the aim of creating a new way to interact with computers and phones. Touchless is something multiple startups in the region are working on, such asCrunchfish and The Eye Tribe. But Erghis solution is not a new technology for reading touchless signals, but rather the user-interface and how we interact with the technology.
Ladies and gentlemen, this is Oulu. The event, called Polar Bear Pitching, allows entrepreneurs to pitch their startup for as long as they can stand the frigid waters of the Oulu River.
The water today is 1°C, and the temperature is is -5°C, with a slight 2 meters per second wind. Below the fold we've got the livestream. Check it out!
There seems to be something in the air in Denmark that is driving some entrepreneurs out of their homes and offices to seek company and companionship from likeminded souls. In the past we’ve covered Project Getaway from Danish entrepreneur Michael Bodekaer and now we’ve learnt of a similar plan called Workaway Camp and there’s another Dane behind it, one Nikolaj Astrup Madsen, a self described entrepreneur and online marketing geek. Let’s look at the details.
Congratulations to Joy Marcus who was yesterday announced as the new CEO of Bloglovin’. The lifestyle and fashion platform that collates users’ favourite blogs into a single feed has appointed industry veteran Marcus to give them direction and guidance as they look to ramp up further growth.
Huge funding news for Stockholm. Truecaller, the reverse number lookup directory, has raised $18.8 million (€13.8 million) in Series B funding. Participating in the round is existing investors including Finland-based Open Ocean Capital, Truecaller Chairman Stefan Lennhammer, and "a private investor who is known for his high profile Silicon Valley investments."
Most know Kivimäki as the past head coach of Startup Sauna, Chairman at Slush, as well as being founding chairman of the Startup Sauna Foundation, a €1 million+ budget that puts money into Startup Sauna and Slush. The foundation is funded by Aalto University, Tekes, The Federation of Finnish Technology Industries (where Kivimäki is a board member of the Growth Team), and Sitra, as well as a few individuals.
There’s nothing like talking business with new people while hitting the sauna butt naked. This might be one of the reasons Finland has gained so much traction as a host for business events, or perhaps it’s the fact that its the perfect location to unify the nordic, baltic and Russian companies who are into global business development. Whatever the reasons may be, Finnish successes like Slush and the Nordic Business Forum have inspired events organizers to aim even higher. This is exactly what the 3rd edition of #truHelsinki intends to do on the 9th of April 2014 in Helsinki.
Listen. Forget "productivity", the real reason why you download apps is to distract yourself when you're bored, or to impress your friends. For these reasons, Stockholm-based FlightRadar24 basically belongs in my iPhone's bottom toolbar.
We covered the company a year and a half ago, but here's a refresher: When you open up the app you're given a map view over your current location sowing the real-time position of the planes above you. Tapping on a plane you're given more info including what type of plane it is, where it's coming from, where it's going, and the path it's taking to get there. Digging deeper, you can also see real-time stats on the plane's altitude, speed, and what squawk they're broadcasting, as well as other stats on the type of aircraft.