Swappie closes a significant funding round, Innofactor provides digitalisation services in the Nordics, Finnair renews a global distribution agreement, Mobidiag receives the second portion of EIB financing, Bob W bags coin, and Fiskars and Fortum collaborate on a hands-free handle innovation. Click on the headlines for more in-depth information about each piece of news.
Finnish refurbished smartphone marketplace Swappie has raised 40 million US dollars (approx. 35 million euros) in Series B funding from TESI, as well as existing investors Lifeline Ventures, Reaktor Ventures and Inventure. Swappie operates its own refurbishment factory in the Nordics and sells refurbished iPhones directly to consumers through its online shop, therefore controlling the whole value chain. The company’s revenues in 2019 were 35 million US dollars, representing a four-fold increase from the previous year. It will use the funding to support its rapid growth across Europe and plans to hire around 400 people next year. Image: Swappie / Facebook
Innofactor has been selected by the Employment Fund in Finland as the primary framework agreement supplier of IT specialist services. The agreement is worth around 3–5 million euros over its four-year period. Innofactor will also continue to further develop the membership management solution of a Swedish trade union. The project is worth approximately one million euros and is planned to be delivered from July 2020 to June 2021. Image: Innofactor
The Finnish flag carrier, Finnair, has announced a new worldwide distribution partnership with travel technology company Sabre. Under the agreement, Sabre will resume distributing competitive global Finnair content to hundreds of thousands of travel agents and thousands of corporations worldwide through its travel marketplace. Sabre’s global distribution system plays an important part in facilitating the marketing and sale of airfares, hotel rooms, rental cars, rail tickets and other travel options to travel agents and corporations. Image: Finnair
Finnish molecular diagnostics company Mobidiag has received the second, 10 million-euro tranche of a 25 million-euro growth capital loan it secured from the European Investment Bank (EIB) in May 2019. It will use the funds to advance its research and development and bring to market new molecular diagnostics tests using its Amplidiag and Novodiag platforms. The company recently used its technologies to develop and supply two coronavirus tests and has also been distributing an antibody test. Image: EIB
Bob W bags EUR 4 million
Finnish startup Bob W has raised four million euros in a seed funding round led by Founders VC, with participation from leading Nordic and Baltic real estate investors NREP and Kaamos. Bob W offers an alternative to hotels and hosted homes in the form of affordable, high-quality suites embedded in the local community. The service is completely digital, and the startup adheres to something it calls a ridiculously clean standard. Beyond expanding its suite offering in the Nordics, Baltics and the UK, Bob W is currently developing a full-stack hospitality tech platform for a more asset-light strategy going forward. Image: Bob W
Finnish companies Fiskars and Fortum are collaborating to launch the commercial production and international sales of a handle that prevents the spread of the novel coronavirus and other infectious diseases by allowing people to open doors with their arms. Read our full article by clicking the headline. Image: Fortum