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Finnish tech startups raise funding

Finnish startups have their finger on an industry’s pulse by assimilating raw data into a single dashboard, enhancing decision-making across sectors.Adobe

Rundit, Statzon and Klevu have secured funding for their solutions in digital platforms and online retail.

Helsinki-based Rundit has secured one million euros in seed funding from two angel investors for its portfolio management software, which offers efficiency and transparency for venture capital (VC) funds and other professional investors through automated reports. The capital will be used to broaden the startup’s product offering and scale across the EU and US to complement operations in 28 countries.

“Startups want to be out there growing their business to become the next unicorns, not submitting cumbersome investor reports with out-of-date tools such as Excel,” commented Jori Karstikko, CEO and co-founder of Rundit.

“Similarly, very few VCs enjoy making reports for their investors (LPs) with data that is typically already old by the time the fund report is generated. Instead of creating reports about the past, VCs should get real-time analytics to make better decisions for their portfolio in the future.”

Rundit’s funding will be used to scale up across the EU and US. Image: Rundit

The idea of a one-stop-shop for data is also at the heart of Statzon‘s business in the global robotics industry. The startup has announced a 240 000-euro seed funding round that includes an R&D loan from Business Finland and equity financing from Gorilla Capital. The backing paves the way for the Lahti-based startup to reach its long-term goal of becoming a global market leader by 2030.

Klevu, meanwhile, has brought in 12 million euros in a funding round led by Alfvén & Didrikson, along with EVLI Growth Partners and other investors. Its deep self-learning search uses natural language processing and machine learning to provide better conversion rates for business clients and a more user-friendly e-commerce experience for would-be customers.

“Since we joined forces with Klevu, the development of the company has been impressive,” told Ari Korhonen, growth partner at EVLI. “Despite the challenging year, the company has been able to take major steps forward with the product while growing rapidly to help e-commerce merchants to offer their customers high-quality service in this new environment.”

Since its founding in 2013, the startup has grown into a 70-person global enterprise with a customer base of over 3 000 online shops, including Puma, Yamaha and Toys R Us.

Good News from Finland is published by Finnfacts, which is part of Business Finland

Published on 09.12.2020