We invest in Nordic founders with global ambitions
We believe that the most successful companies of our time will be the ones solving real problems. The entrepreneurs that improve the way we live in a scalable way, will create long term profit as well as increase environmental and social sustainability.
We invest in exceptional early-stage tech companies founded by entrepreneurs with global ambitions. We believe that investing in a founder is a mutual partnership, and we know that building great and valuable companies takes time.
We are a Nordic venture capital firm run by experienced venture capitalists, operators and founders that helped create billion-dollar companies.
Mjuk has raised €2.5M to continue to build their furniture re-commerce marketplace that helps furniture brands minimize waste and consumers find the best prices. Alliance VC participated in an investor syndicate including Trind VC, Superhero Capital, Lifeline Ventures and angel investors.
Stine Mølgaard Sørensen, a Danish entrepreneur and angel investor, is joining Alliance VC as partner. Stine is based in Copenhagen, Denmark, and was co-founder and COO of the health-tech startup Radiobotics. With Stine on board Alliance VC will be better positioned to serve the Danish startup ecosystem and have a footprint in four of the five Nordic countries.
See Medium story.
Deckmatch raised a €1M pre-seed round for the mission to improve the investment process for both investors and founders using AI. Alliance co-led the round with Skyfall Ventures and a great group of international angels joined the syndicate.
Bits Technology announced a €4M seed round that will help the company further its mission of reshaping how future fintech products are built. The round was led by Unusual Ventures. Fin Capital also participated with investors from the fall's pre-seed round, Alliance VC, Cherry Ventures, Forward VC and Greens Ventures.
1X, a company producing androids capable of human-like movements and behaviors, has raised a $23.5M round led by Sam Altman / OpenAI and Tiger Global with a syndicate including Alliance, Sandwater, Skagerak Capital and a strong set of angels.
APEXX, delivering a truly global Payment Orchestration Layer built for enterprise customers, has announced its Series B round of $25M. The round was led by MMC Ventures and included new and existing investors. Alliance participated in the round to continue a strong relationship.
Check out coverage by Finextra.
Kvist Solutions, a provider of digital solutions for environmental certifications in construction, has raised a 17 MNOK seed round led by ArkwrightX and DNB Ventures to accelerate its roll-out. Alliance led the pre-seed round a year ago and followed-on in the seed round.
Check out Shifter article (in 🇳🇴).
There is a lot of talk these days about VC funds being “founder friendly”. An investor being “founder friendly” is not only an attractive proposition for startups, it is attractive for investors too. At Alliance VC, we have a strong bias for action over words. Let us look at the actions we have taken to ensure this.
Read full blog post.
Equlity Check, a company helping organisations create more equal workplaces for all, has raised a new $1.6M equity round. Alliance VC co-invested with Unconventional Ventures and other investors in the round.
See article in Shifter.no for more (in Norwegian)
TouchNetix, a rapidly growing, global leader in next generation human machine interface (HMI) semiconductor chips and sensor modules, today announced a 120 MNOK ($12M) funding round, where Alliance Venture participated. TouchNetix provides intuitive and safety-enhancing user experiences for touchscreens and smart touch surfaces.
Steep, the next-generation analytics platform powered by design, has raised €1M a pre-seed round co-led by Alliance and Inventure and participation from The Nordic Web Ventures, Antler, Greens and a list of well-known angel investors. Steep‘s new funding will facilitate the company’s plans to accelerate its product launch across European and US markets, continue product development and recruit key hires.
Stockholm-based Ripe has raised a$2M pre-seed round to power the product-led economy. Ripe makes it easy for companies to respond immediately to their best customers, in-product, by coupling together key data sources and turn data into revenue. Alliance co-invested with Earlybird Venture Capital in the round.
Bits Technology has closed a €1M pre-seed funding round to rethink and ultimately reshape how global fintechs build financial services. The round was led by Cherry Ventures with Alliance Venture, Forward VC and Greens Ventures also joining the round.
Ark Kapital has raised another €15M from new (like Annika Falkengren and Timo Soininen) and existing (LocalGlobe, Creandum, Hjalmar Winbladh, Jacob de Geer, Patrick Söderlund and others) investors.
Alliance is happy to participate and increase our investment, as Oliver Hildebrandt, Henrik Landgren, Axel Bruzelius and the team are building a modern, data-driven lender to companies with predictable revenue.
See coverage in Shifted.
Aquabyte, which uses computer vision and AI to give fish farms unprecedented insight into the health, growth, and sustainability of their fish, today announced the completion of its Series B round of $25M. The round was led by SoftBank Ventures Asia. Existing investors NEA, Costanoa Ventures, ArcTern Ventures, Struck Capital and Alliance Venture participated in the round.
Globus.ai, a staffing AI company, has raised a $4.8M seed round co-led Alliance Venture and Scale Capital, as it ramps up presence in the UK and prepares for further expansion. Globus is growing rapidly by enabling customers to process more vacancies by automating time-consuming and manual recruitment and staffing processes.
The wind energy SaaS leader has secured a $7.5M funding round led by Ecosystem Integrity Fund (EIF), with Ferd Capital and Blue Bear Capital participating in the syndicate. The funding will support rapid scaleup, accelerate market expansion and increase the company’s unique scenario modeling capabilities.
See company announcement for further details.
A new model of home care is emerging – Finnish care platform Helppy raises €3M to expand to Europe from Alliance Venture.
Helppy has developed a neighborhood care model, empowered by tech, as a new alternative to elderly home care. The model, utilizing platform logistics, allows for more personal care, full transparency and higher productivity than the traditional route-based shift worker model. The company has proven its concept in Finland and is now expanding its operations to multiple European countries.
Read full article at Eu-Startups.com
Mjuk, the rapidly growing second-hand furniture marketplace has raised €4 million from Allliance Venture and Lifeline Ventures in its second funding round. The funding will mainly be used for product development and to support growth in the Nordics ahead of a wider European expansion.
See Di.se article.
Unleash is scaling its open source feature management platform in the U.S. and Europe. The platform provides enterprise developer teams greater flexibility and control over data leading to faster, higher quality, and the most secure feature management and deployment. The new round was led by Spark Capital with Alliance joining a strong investor syndicate.
This includes a $45M Series C led by OMERS Ventures, shortly following a previously unannounced $15M Series B from Makers Fund, Horizons Ventures and Dune Ventures. Alliance Venture participated in both rounds. The company also announced further acquisitions.
The round was co-led by Prosus Ventures and Lugard Road Capital, with Slack Fund and Acequia Capital also participating. The funding follows a hugely impressive period of efficient and strong growth, and landing an equally impressive list of premium clients.
See TechCrunch article.
This was a 5.5 MNOK ($600k) round, where other investors included StartupLab and Vater. Kvist is on a mission to make the building and construction industries more sustainable, and has shown great early customer value and traction.
See Shifter article (in Norw.)
The funding round enables Novelda to accelerate growth, product development and strengthen its position as the global leader in UWB sensing. The round was oversubscribed and included Tier 1 institutional investors joining existing investors.
See Medium post from Novelda.
Further details about the round have not been disclosed.
See Finansavisen article (Norw. / $)
We are excited to join Lasse Andresen & the whole IndyKite team on the mission to change the digital identity space - again! Today the company came out of stealth and announced its $2.5M funding round co-led by Alliance Venture and SpeedInvest.
ServiceNow has announced the acquistion of Swarm64 to enable a more effective and efficient data management across many different use cases to execute complex, high-speed data analytics at a mass scale. We are proud to have been the first investor in Swarm64. Congratulations to both ServiceNow and the team!
Equality Check is on a mission to help organizations improve their Diversity & Inclusion performance. Alliance Venture is excited to lead EC's seed round
See article in DN (in Norwegian).
TouchNetix, the rapidly growing provider of next-generation human-machine interface (HMI) chips and sensor modules, has raised an $11.5M Series A to accelerate its global expansion plans. Alliance Venture invested in the round and is excited to back an exceptional team and company. Congratulations to Vegard Wollan, Gaute Myklebust and team for reaching another important milestone! See article and press release.
Xeneta, the leading ocean and air freight rate benchmarking platform and container shipping index, today announced the successful close of its $28.5M Series C. The funding was led by New York-based Lugard Road Capital, with participation from existing investors Creandum and Investinor. Lugard Road will join Xeneta’s earlier investors Smedvig Capital, Point Nine Capital and Alliance Venture, bringing the total raised by Xeneta to $49M. See articles in Shifter (Norw.) and press release.
Oda just announced a secondary transaction at company valuation of $ 1.2 billion, on the back of its $ 265 million Softbank/Prosus-led round in April. This means that Oda is now a unicorn!
Read more at Medium
Excited to join &Repeat in their quest to make takeaway packaging better for the environment.
Read the full story in DI Digital
Congrats to Softbank and Prosus for partnering with a world-class team and amazing company - Oda (formerly Kolonial.no). It has truly been a great journey since Alliance Venture lead the seed round, and it has just begun...
Read the full story in Techcrunch
The investement in the HR data platform marks Alliance first investment in Sweden.
Read more at Breakit (in Swedish).
Portfolio company Aquabyte raised 10M USD from ArcTern Ventures and existing investors.
Read more (in Norwegian)
H1 2020 ended up being an all-time high for follow-on investment in the Alliance Venture portfolio. Eight companies raised a total of 479 MNOK (approx. 50 MUSD). Six of the funding rounds have already been announced, Apexx Global, Shoreline, Aprila Bank, Boost.ai, Novelda and poLight, while two deals are not yet public.
We are very happy and proud to be able to close a sizable early-stage venture fund in the midst of the COVID-19 outbreak. This will enable us to invest in a very challenging time for the startup ecosystem. And though this post is written while most of us are still in lock-down it is our firm belief that we as a society will fight through these difficult times.
Now is the time for investors to prove themselves as great long-term partners to entrepreneurs and that it’s not just a marketing gimmick.
Swarm64, the leader in FPGA-accelerated database management solutions, today announced that Xilinx, the FPGA inventor, has invested in Swarm64. The two companies will work together to deliver high-performance analytic databases that are easy to deploy and scale at a lower total cost of ownership (TCO) than existing solutions in the market.
See press release.
Providing opportunity for global design talent to serve and impact Enterprises.
I’d like to congratulate the team of LeadX, Smart Innovation Norway, and Nordic Media Lab on the documentary miniseries from their recent…
Altua, the developer of Grunt – the tool that gives PowerPoint users superpowers, announced a new funding round of 16 MNOK (1.9 MUSD) to take Grunt to market. Alliance Venture, a new investor, joined the syndicate of existing investors. See article from Finansavisen (in Norwegian).
Xeneta, the leading freight price benchmarking and market intelligence platform, has raised a new funding round of 70 MNOK (8.2 MUSD) led my Investinor. Existing shareholders Smedvig Capital, Creandum, Alliance Ventures, and Alden participated in the funding round. See announcement from Investinor.
Novelda, a developer and supplier of adaptive smart sensors, has closed a USD 15 million funding round to further develop and take the XeThru radar sensor technology into high volume applications. Alliance Venture participated in the round led by Investinor. See the company’s announcement.
poLight ASA today announced the successful completion of its initial public offering (IPO). The first day of trading of the company’s shares on the Oslo Stock Exchange is expected to be Monday 1 October 2018 under the ticker OSE: PLT. In the offering poLight has raised 130 MNOK in new funds. See the company’s announcement.
… is probably the most frequent question I get, when I explain who I am and what I do. This is not a hostile question or bullying tactic, but simply an indication of genuine curiosity and some confusion.
Boost.ai, provider of the world’s most robust virtual assistant platform, announced today the closing of a new round of financing from Alliance Venture. Boost.ai has developed the world’s most robust natural language processing (NLP) algorithms. These algorithms enable virtual assistants built on the James® platform to respond to customer enquiries quickly, efficiently and with unrivaled accuracy. The financing will be used to strengthen the technical and commercial teams within boost.ai, and to support expansion beyond the Nordics. See article (in Norwegian).
Aquabyte raises 3.5 MUSD seed funding; aims to transform fish farming through computer vision and machine learning
Aquabyte, a startup applying computer vision and machine learning models to dramatically optimize fish farming efficiency, today announced a 3.5 MUSD Seed Round of funding co-led by Costanoa Ventures and New Enterprise Associates (NEA) with participation from Alliance Venture, Princeton University and other investors. See press release, Forbes article and Shifter article (Norw).
Arundo Analytics raises 25MUSD Series A funding to bring large-scale machine learning into asset-heavy industries
Arundo Analytics, a software company powering advanced analytics in heavy industry and Alliance Venture portfolio company, announced today an initial closing of 25 MUSD on its Series A financing round. To date, the company has raised over $32.5 million since its founding in 2015. “This investment is a validation of the product and market strategy our team pursued over the last two years,” said Tor Jakob Ramsøy, CEO of Arundo. See article.
Alliance Venture portfolio company, Swarm64 – an enabler of real-time analytics for high velocity and big data – has raised 12.5 MUSD Series B round led by Intel Capital. The funding will be used to strengthen Swarm64’s position as a global leader in FPGA-based accelerators for relational databases. Alliance Venture participated in the round. See press release in English and article in Norwegian.
Alliance Venture invested early alongside FJLabs and was later joined by several reputable Norwegian investors. Aprila delivers a fully automated on-the-spot financing solution for SMEs with an innovative distribution model. The solution will address the SME funding gap through a seamless integration with established ERP solutions and accounting services. See article in Norwegian.