This document is a monthly report from Tracxn on technology companies in Finland for April 2021. Key highlights include: - Total funding for Finnish tech companies was $76.9M in April, with the top round being Virta's $36M Series C. - New investors in Finnish tech included Amazon, Jolt Capital, and Vertex Growth. - Analyst picks included upgrading Virta to a soonicorn and Lightheart and Yousician to minicorns. - Mobidiag was acquired by Hologic for an undisclosed sum. - The top funded business models over the last year were online food delivery, direct home buying, and database as a service.

1. TRACXN MONTHLY REPORT
APRIL 2021
FINLAND TECH

2. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Finland 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
Acquisitions 9
Recent News 10

3. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Finland Tech Snapshot – April 2021
Finland Tech: Snapshot – April 2021
Note : "Investors" refers to "Institutional Investors" only
3
$76.9M
4
Overall Geo Stats
10
1
9
4
5
Funding Rounds $ Invested Analyst Picks
Virta Upgraded to
SOONICORN
New Investors
Amazon
Placeholder
Series A+ rounds Active Investors IPOs Acquisitions
Mobidiag#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Helsinki
(3 Rounds, $70.8M)
Espoo
(1 Rounds, $6.0M)
$36.0M - Series C
Virta (2013, Helsinki, $36.0M)
$28M - Series B
Yousician (2010, Helsinki, $29.4M)
$6.8M - Series A
Lightheart (2019, Helsinki, $8.2M)
$6.0M - Series A
Dispelix (2015, Espoo, $21.6M)
Sisu Game Ventures
(1 Investments)
True Ventures
(1 Investments)
Jolt Capital
(1 Investments)
Amazon
(1 Investments)
Energy Storage Tech
Virta
Electric Vehicles
Smart Cities
Continued Learning
Yousician
Market Size
Companies Covered 2,640
Funded Companies 1,097
Total Funding $5.1B
Funding in last 12 months $1.5B
Top Exits
IPOs 35
Acquisitions 215
Company Stage
Unicorns -
Soonicorns 15
Minicorns 98
Editor Picks 351
Series A+ 278
Series C+ 45
Acqui-Hires 1
Deadpooled 194
Top Cities
Helsinki (565 Rounds, $3.4B)
Espoo (153 Rounds, $652M)
Top Investors
Business Finland (104 Investments)
Lifeline Ventures (50 Investments)

4. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Finland Tech as of April 2021
Finland Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (April 2021)*
Virta
(2013, Helsinki, $36.0M)
$36.0M - Series C Jolt Capital
Yousician
(2010, Helsinki, $29.4M)
$28.0M - Series B Amazon
Lightheart
(2019, Helsinki, $8.2M)
$6.8M - Series A Makers Fund
Dispelix
(2015, Espoo, $21.6M)
$6.0M - Series A
*Shows only the lead Investors

5. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Finland Tech in April 2021
Finland Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$36.0M - Series C
Virta (2013, Helsinki, $36.0M)
Cloud-based management solution for EV charging
stations
Jolt Capital, Tesi, Vertex Growth
EARLY STAGE
$6.0M - Series A
Dispelix (2015, Espoo, $21.6M)
Provider of near-eye display modules for use in
augmented reality
EARLY STAGE
$6.8M - Series A
Lightheart (2019, Helsinki, $8.2M)
Mobile game developer specializing in casual games
Makers Fund, Sisu Game Ventures, Galaxy Interactive
EARLY STAGE
$28.0M - Series B
Yousician (2010, Helsinki, $29.4M)
Musical instrument learning app
True Ventures, Amazon, Mark Pincus, Jason Calacanis,
David Helgason, and 3 more
SEED STAGE
Seed
Bluefors (2007, )
Dilution refrigerators for quantum and nano
technology research
DevCo

6. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Finland Tech in April 2021
Finland Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Amazon
85 portfolio companies | Online marketplace offering multi-category products
Yousician
Musical instrument learning app
$28.00M Series B
Placeholder
10 portfolio companies | VC firm investing in decentralized information
networks
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Robot Ventures
12 portfolio companies | Venture capital fund investing in pre-seed fin-tech
startups
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Scalar Capital
6 portfolio companies | Crypto-asset based hedge fund
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Vertex Growth
11 portfolio companies | Early & late stage investments focused PE & VC firm
Virta
Cloud-based management solution for EV charging stations
$36.03M Series C
Jolt Capital
12 portfolio companies | Private equity investment firm focused on buyouts
Virta
Cloud-based management solution for EV charging stations
$36.03M Series C
DevCo
1 portfolio companies | SME focused revenue based financing firm
Bluefors
Dilution refrigerators for quantum and nano technology research
Undisclosed Seed
A Capital Venture
39 portfolio companies | Early-stage tech focused VC firm investing in
geographies such as the US
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A
Galaxy Interactive
11 portfolio companies | Venture capital fund focused on tech startups
Lightheart
Mobile game developer specializing in casual games
$6.80M Series A
SV Angel
664 portfolio companies | Tech focused seed stage VC firm investing in the US
Element Finance
Online exchange platform for cryptocurrencies
$4.40M Series A

7. Finland Tech - April 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 <> 0 Online Food Delivery $654M 3 Wolt | $536M | Series E
2 ▲46 Direct Home Buying $117M 1 Kodit.io | $117M | Series B
3 <> 0 Database as a Service (DBaaS) $100M 1 Aiven | $100M | Series C
4 <> 0 DBaaS $100M 1 Aiven | $100M | Series C
5 <> 0 Big Data Infrastructure > IaaS $100M 1 Aiven | $100M | Series C
6 -- Satellite Imagery $87.0M 1 ICEYE | $87.0M | Series C
7 -- NewSpace > Space Services > Imaging > Satellite Based $87.0M 1 ICEYE | $87.0M | Series C
8 ▲10
Quantum Computing > Quantum Hardware > ASICs >
Superconducting Qubit
$63.3M 2 IQM | $46.3M | Series A
9 -- Standalone VR Headsets $54.0M 1 Varjo | $54.0M | Series C
10 -- Eye Tracking for VR $54.0M 1 Varjo | $54.0M | Series C

8. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Finland Tech in April 2021
Finland Tech: Analyst Picks
8
Upgraded to SOONICORN
Virta (2013, Helsinki, Undisclosed, Series A)
Cloud-based management solution for EV charging
stations
Tesi, Vertex Growth, JXTG Group and 4 other Investors
Upgraded to MINICORN
Yousician (2010, Helsinki, $1.4M, Seed)
Musical instrument learning app
New Factory, Rolf Schrömgens, Mark Pincus and 7
other Investors
Upgraded to MINICORN
Lightheart (2019, Helsinki, $1.4M, Seed)
Mobile game developer specializing in casual games
Galaxy Interactive,Sisu Game Ventures,Makers
Fundand
Added to Editor's Pick
Liveto (2014, Jyvaskyla, Unfunded)
Event ticketing and event selling platform
Takeoff Partnersand

9. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Finland Tech in April 2021
Finland Tech: Acquisitions
9
Acq. Date Company Acquirer Deal Size
08 Apr 2021
Mobidiag(2000, Espoo, $16.1M)
In vitro diagnostics for infectious diseases
Hologic

10. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Finland Tech in April 2021
Finland Tech:News
10
Exit News
.
● Hologic makes a multiplex molecular testing move with $795M Mobidiag
acquisition MedCity News
.
● Brady Corporation Announces Tender Offer to Acquire Nordic ID Oyj
GlobeNewswire
.
● Ssh Communications Security Corporation’s Subsidiary Kyberleijona Oy
Completes The Acquisition Of Deltagon Oy GlobeNewswire
.
People News
.
● Martin Söderlind becomes Innofactor's new Chief Innovation and Talent
Officer GlobeNewswire

11. Finland Tech - April 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Finland Tech on Tracxn Platform
Finland Tech: Explore more on Tracxn Platform
11
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Finland
AI Companies in Finland
Fintech Companies Finland
Consumer Digital in Finland
Company Due Diligence
Detailed profile of
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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