This document provides a monthly report on Denmark tech for March 2021. It includes snapshots of investment trends, lists of new funding rounds, investors, and analyst picks. It also summarizes notable IPOs, acquisitions, and recent news in the sector.

1. TRACXN MONTHLY REPORT
MARCH 2021
DENMARK TECH

2. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Denmark Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 7
New Analyst Picks 8
IPOs 10
Acquisitions 11
Recent News 12

3. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Denmark Tech Snapshot – March 2021
Denmark Tech: Snapshot – March 2021
Note : "Investors" refers to "Institutional Investors" only
3
$53.8M
6 1
Overall Geo Stats
1
5
5
23
6
Funding Rounds $ Invested Analyst Picks
AddiFab Upgraded
to MINICORN
New Investors
1
Series A+ rounds Active Investors IPOs
Trustpilot
Acquisitions
Planday#@
Nets#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Copenhagen
(2 Rounds, -)
Aarhus
(1 Rounds, $15M)
Frederiksberg
(1 Rounds, $10M)
Jyllinge
(1 Rounds, $6.3M)
$22.5M - Series A
kompasbank (2018, Vedbaek, $22.5M)
$15M - Series B
Concordium (2002, Aarhus, $15M)
$10M - Series A
Cogo (2019, Frederiksberg, $10M)
$6.3M - Series A
AddiFab (2014, Jyllinge, $6.3M)
Accelerace
(1 Investments)
West Hill Capital
(1 Investments)
ARK36
(1 Investments)
Nordic Capital
(1 Investments)
Banking Tech
kompasbank
Cybersecurity
Concordium
Cryptocurrencies
Electric Vehicles
Cogo
Market Size
Companies Covered 3,424
Funded Companies 1,160
Total Funding $19.4B
Funding in last 12 months $3.2B
Top Exits
IPOs 57
Acquisitions 257
Company Stage
Unicorns 2
Soonicorns 19
Minicorns 116
Editor Picks 405
Series A+ 262
Series C+ 65
Acqui-Hires 1
Deadpooled 273
Top Cities
Copenhagen (1,100 Rounds, $14.3B)
Aarhus (148 Rounds, $494M)
Top Investors
Accelerace (127 Investments)
Seed Capital (92 Investments)

4. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Denmark Tech as of March 2021
Denmark Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (March 2021)*
kompasbank
(2018, Vedbaek, $22.5M)
$22.5M - Series A
Concordium
(2002, Aarhus, $15.0M)
$15.0M - Series B ARK36
Cogo
(2019, Frederiksberg, $10.0M)
$10.0M - Series A PreSeed Ventures
AddiFab
(2014, Jyllinge, $6.3M)
$6.3M - Series A West Hill Capital
*Shows only the lead Investors

5. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Denmark Tech in March 2021
Denmark Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
PE
LEO Pharma (1908, Copenhagen)
Developer of drugs for treating dermatology diseases
Nordic Capital
EARLY STAGE
$6.3M - Series A
AddiFab (2014, Jyllinge, $6.3M)
Provider of Industrial 3D Printing services
West Hill Capital
EARLY STAGE
$10.0M - Series A
Cogo (2019, Frederiksberg, $10.0M)
App-based aggregator of EV ride-sharing services
PreSeed Ventures, Pia Vemmelund, Jens Willumsen,
Thomas Weikop
EARLY STAGE
$15.0M - Series B
Concordium (2002, Aarhus, $15.0M)
KYC-enabled blockchain ledger
ARK36
EARLY STAGE
$22.5M - Series A
kompasbank (2018, Vedbaek, $22.5M)
Digital bank for businesses
EARLY STAGE
Series A
DreamPlan (2019, Copenhagen)
Online financial advisory platform for individuals
Accelerace

6. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Denmark Tech in March 2021
Denmark Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
ARK36
1 portfolio companies | Home Page - ARK36
Concordium
KYC-enabled blockchain ledger
$15.00M Series B

7. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Esports League Organizers $1.9B 2 BLAST Pro Ser.. | $1.9B | Series D
2 --
Online Grocery > B2C Ecommerce > Beverages >
Alcoholic > Wine > Listing and Recommendation
$155M 1 Vivino | $155M | Series D
3 --
K-12 EdTech > B2B2C Learning Solutions > School
Curriculum > Multi Subject > Activity Based Learning >
Virtual Labs
$69.0M 2 Labster | $60.0M | Series C
4 -- Antibacterial Drugs $57.7M 3 Minervax | $57.4M | Series B
5 -- Immunotherapy > Vaccine > Prophylactic $57.4M 1 Minervax | $57.4M | Series B
6 ▲78
K-12 EdTech > B2B2C Learning Solutions > School
Curriculum > Math > Online Courses > Adaptive
$36.2M 1 Edulab | $36.2M | Series B
7 -- Nano Positioning $31.6M 1 NIL Technology | $31.6M | Series B
8 -- Food Tech > Food Discovery and Ordering > Surplus Food $31.1M 1 Too Good To Go | $31.1M | Series A
9 ▲17 Hydrogen Fueling $31.0M 3 Everfuel | $31.0M | Series B
10 ▼-3 Robot Grippers $30.8M 1 OnRobot | $30.8M | Series C

8. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in Denmark Tech in March 2021
Denmark Tech: Analyst Picks
8
Upgraded to MINICORN
AddiFab (2014, Jyllinge, Undisclosed, Seed)
Provider of Industrial 3D Printing services
European Union, Capnova, Growth Fund and 3 other
Investors
Upgraded to MINICORN
Cogo (2019, Frederiksberg, $10.0M, Series A)
App-based aggregator of EV ride-sharing services
PreSeed Ventures, Thomas Weikop, Jens Willumsen
and 1 other Investors
Upgraded to MINICORN
kompasbank (2018, Vedbaek, $22.5M, Series A)
Digital bank for businesses
Added to Editor's Pick
Injurymymap (2017, Copenhagen, $404K, Seed)
Mobile-based application for pain management
EIT Health, THINK Accelerate, PreSeed Ventures and 1
other Investors
Added to Editor's Pick
Practio (2014, Copenhagen, $1.6M, Seed)
Mobile-based application for reminders and periodic
delivery of medicines
Growth Fund,Spintop Ventures,Carl Westinand
Added to Editor's Pick
PRECURE (2016, Allinge, $625K, Seed)
Developer of AI-based orthopedic rehabilitation
devices for orthopedic supports
Bornholms Erhvervsfond, Den Sociale Kapitalfond,
Peter Jaksland and 2 other Investors
Added to Editor's Pick
iSD Immunotech (2007, Aarhus, Undisclosed, Grant
(prize money))
Immunoregulatory peptide therapeutics for
autoimmune diseases.
Novo A/S,BioVaria,Acceleraceand
Added to Editor's Pick
Edulab (2006, Copenhagen, $102K, Seed)
Educational platforms and apps creator
Lindhardt and Ringhof,VF Ventureand
Added to Editor's Pick
JourneyXP (2014, Copenhagen, $793K, Seed)
Cloud based no-code platform for app development
Seier Capitaland
Added to Editor's Pick
OKTO (2019, Lyngby, Undisclosed, Conventional Debt)
Online platform offering grid network monitoring
solutions
Rockstart,Mist Ventures,Growth Fundand
Added to Editor's Pick
Pronestor (2000, Copenhagen, $1.4M, Seed)
Conference & meeting room scheduling software
Dicoand

9. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in Denmark Tech in March 2021
Denmark Tech: Analyst Picks
9
Added to Editor's Pick
TubusOne (2015, Copenhagen, $191K, Seed)
Communication device for navigating tablets and
smartphones
,Den Sociale Kapitalfond,EIT Healthand
Added to Editor's Pick
QAtor (2003, Bagsvaerd, $247K, Seed)
Provides compliance management solutions for
healthcare industries
VIA equityand
Added to Editor's Pick
Achoo (2014, Copenhagen, $107K, Seed)
Social Monitoring and Influencer Tracking platform
FAHU, Syddansk Innovation, The Danish Agency for
Education and Research and 3 other Investors
Added to Editor's Pick
FarmDroid (2018, Odense, $446K, Seed)
Developer of an agricultural robot for farmers to sow
and clean crops
Syddansk Innovation,REInvest Roboticsand
Added to Editor's Pick
TKS Technology (2010, Nibe, $507K, Seed)
Provider of communication and wheelchair controller
system for disabled individuals
Borean Innovationand
Added to Editor's Pick
Softpay.io (2019, Copenhagen, $2.1M, Seed)
Mobile-based POS solution for businesses
Lehrmann Ventures,Jeppe Christiansenand
Added to Editor's Pick
Dot.vu (2014, Holstebro, $36.6K, Seed)
Content creation and optimization platform
Borean Innovationand
Added to Editor's Pick
Mambeno (2014, Helsinge, $274K, Seed)
Online platform offering shoppable recipes
LYSGAARDand
Added to Editor's Pick
Careturner (2014, Herlev, Unfunded)
Developer of medical equipment for mobilizing
patients
Den Sociale Kapitalfondand
Added to Editor's Pick
Orbit Online (2011, Aarhus, Unfunded)
Cloud-based CRM solutions provider
Added to Editor's Pick
BlockStarPlanet (2016, Copenhagen, Unfunded)
Mobile game developer focusing on casual games
Added to Editor's Pick
Encida (2019, Aalborg, Unfunded)
Automated application testing solutions provider

10. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
23 Mar 2021
Trustpilot (2007, New York City, $180M)
Online platform for reviewing local businesses
LON:TRST
IPOs
List of IPOs in Denmark Tech in March 2021
Denmark Tech: IPOs
10

11. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Denmark Tech in March 2021
Denmark Tech: Acquisitions
11
Acq. Date Company Acquirer Deal Size
04 Mar 2021
Planday(2004, Copenhagen, $59.8M)
Workforce Scheduling & HR solution provider
Xero $221.6M
05 Mar 2021
Nets(1968, Ballerup)
Payment processing solutions for businesses
Mastercard $3427.4M
16 Mar 2021
Firstborn Capital(2014, Copenhagen)
Lending as a service platform for businesses
ROI Media
23 Mar 2021
Lua(2020, Copenhagen, $1.2M)
Online real-time workflow management software for
organizations
Beekeeper
24 Mar 2021
Trackunit Telematics(1998, Pandrup)
Leading supplier of telematic solutions for machines and vehicles.
HgCapital Trust $40.4M

12. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Denmark Tech in March 2021
Denmark Tech:News
12
Exit News
.
● Crowdstrike acquires log management software firm Humio for $400 million
Tech.eu
.
● Xero acquires Danish workforce management platform Planday ChannelLife
.
● Online review platform Trustpilot plans London Main Market float Morningstar
.
● Trustpilot shares up 11% after pricing London float at top of range Morningstar
.
● CrowdStrike Closes Acquisition of Humio, For $392M FinSMEs
.
● Staying in Touch With Hourly Hotel Workers Spurs Tech Merger in Europe Skift
.
● ROI Media expand with Copenhagen buy Insider Media
.
● Nexi’s $9.28bn acquisition of Nets gets European Commission nod Electronic
Payments International
.
People News
.
● Liva Healthcare attracts senior leaders from the medical and scientific sector
to its global advisory board Business Wire

13. Denmark Tech - March 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Denmark Tech on Tracxn Platform
Denmark Tech: Explore more on Tracxn Platform
13
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Denmark
AI Companies in Denmark
Fintech Companies Denmark
Consumer Digital in Denmark
Company Due Diligence
Detailed profile of Tradeshift
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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