October 26, 2020
DAILY BRIEF: Food delivery, hot sauces, 3D printing, films and venture capital
Wolt delivers the goodies in Japan.
All the daily Finnish business news that works: Wolt, Poppamies, films, Etteplan, Open Ocean and Tampere make headlines.
Poppamies sauces go down well in the Baltics, Mika Kaurismäki’s Gracious Night heads to Tallinn, Wolt expands in Japan, Etteplan partners with nTopology, Open Ocean raises capital for new fund, and Tampere hosts a Hollywood film production.
Leading Finnish barbecue and hot sauce brand Poppamies has become available in 100 points of sale in the Baltic countries. Poppamies began collaboration with Baltic distributor Kamado Bono three years ago by testing the market in a few special shops. After a very successful start, the partners have executed their growth plan and reached 100 sales points and over 100 000 sold products in 2020. The plan is now to double sales in the region in 2021 and rapidly increase export sales in the Baltics and Scandinavia in the next few years.
Mika Kaurismäki’s Gracious Night (Yö armahtaa) will have its world premiere at the Tallinn Black Nights Film Festival organised on 13–29 November. The film is about three men who bond over a long night of fine wine and intellectual discussion in a bar facing serious financial pressure during the pandemic-caused lockdown. Bartender Heikki consoles his friend Risto, a frontline healthcare professional who has just ended a long and tragedy-filled shift, but the night takes an unexpected turn when a stranger enters the bar and suspicious arise over his involvement in a reported murder. The film is shot in the famous Corona Bar in Helsinki owned by the Kaurismäki brothers.
Finnish food delivery service Wolt has launched in Tokyo. Wolt initially landed in four Japanese cities, Hiroshima, Sendai, Sapporo and Kure, in the spring. The Finnish startup told Forbes Magazine that it has signed up around 1 000 restaurants in the cities, with more destinations in the pipeline, and some 75 employees in the country supporting the expansion. Wolt faces competition in Japan from Uber Eats, Line Delima and FoodPanda, part of Delivery Hero’s brand portfolio, which expanded to the country a few weeks ago.
Etteplan is strengthening its position as the leading Nordic expert in additive manufacturing, also known as 3D printing, having been chosen as the preferred design partner in the region by nTopology, a US-based software company building next-generation engineering design tools. Etteplan has in recent years been investing heavily in several fields of advanced engineering, such as digital twins, robotics, automation and 3D printing.
Helsinki-based venture capital firm Open Ocean has raised around 85 million euros for its third fund, despite the challenges brought on by the pandemic. The final target size for the fund is 130 million euros. Open Ocean invests in software startups in Europe that are in their internationalisation stages. Among the investors in the fund are the European Investment Bank, Finnish Industry Investment (TESI), Elo, OP, Taaleri and a group of family investment firms.
American director Riley Stearns is at the helm of a new satirical sci-fi thriller, Dual, which is currently being filmed in Tampere. The production has brought a high-profile cast to the Finnish city, including Karen Gillan (Dr Who, Avengers: Infinity War and Endgame), Aaron Paul (Breaking Bad, Westworld) and Beulah Koale (Hawaii Five-O). To read our article on the production, click the headline.
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