June 19, 2019
The daily brief: 19 June 2019
Wolt has raised 137 million euros in funding.
All the daily Finnish business news that works: Wolt, Finnair and Tampere make headlines.
Wolt announces huge funding news, Finnair gathers praise and Tampere lures in more research and development.
The World Airline Awards, held at the Paris Air Show, has recognised Finnair as the best airline in Northern Europe for the 10th consecutive time. The so-called Oscars of the aviation world are presented based on the scores of 300 airlines in an online customer satisfaction survey that this year drew over 21 million entries. According to Finnair, the award is evidence of its success in investments in on-board internet access, business lounge upgrades and digital services.
Wolt has announced a funding round of 110 million euros, led by the prestigious ICONIQ Capital and supported by Highland Europe, Lifeline Ventures and EQT Ventures. The round is the second biggest funding round to date in Finland. The company also told about a previously unannounced, 27 million euro-capital injection received in January 2018. The funding will be used to hire 1 000 new employees by 2020 and develop all business areas in preparation of an expansion to new markets. Wolt has experienced intensive growth, reporting a threefold increase in revenue in 2017–2018 and announcing a revenue forecast of 80–100 million euros for 2018–2019.
The market leader in mobile computer vision, Scandit, has announced the opening of a new research and development office in Tampere. According to Scandit, the talented local community was key for the decision to set up shop in the city. Tampere has a strong legacy in camera and imaging technology from its earlier Nokia days, as well as academic merits in signal processing at the Tampere University. Scandit provides some of the biggest companies in the world mobile data-capture platforms, which streamline workflows in the supply chain.
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