November 21, 2019
The daily brief: 21 November 2019
Nokia has closed its 50th commercial 5G deal.
All the daily Finnish business news that works: Enfuce, Nokia, Combinostics and UPM Raflatac make headlines.
Enfuce and Combinostics raise significant coin, Nokia wins 5G deals worldwide, and UPM Raflatac expands in Russia.
Finland’s Enfuce has secured 10 million euros in its latest funding round led by Maki VC, which also included venture debt from Nordea, LähiTapiola, and Finnvera. Already the largest financial technology startup in Finland, Enfuce aims to use the new funding to accelerate global growth and scale its new sustainability service, My Carbon Action. It is already working with giants such as MasterCard, Visa, Amazon Web Services and D-mat, and last week it announced a collaboration with Denmark’s startup of the year, fintech firm Pleo.
Finnish label manufacturer UPM Raflatac has opened a new labelstock slitting and distribution terminal in the Russian city of Chelyabinsk. The new facility will enable it to offer an expanded range of innovative and sustainable paper, film and speciality products in the industrial Ural region. The new terminal is the company’s third in Russia, with the two others located in St. Petersburg and the Moscow region.
Finnish health technology company Combinostics has raised 3.9 million euros in a series A funding round jointly led by Industrifonden and NordicNinja VC. The company will use the funding to scale its platform for early-stage Alzheimer’s diagnosis in the US and Asia. The platform supports early diagnosis of neurodegenerative diseases by combining imaging data with clinical data to provide healthcare professionals with a holistic view of a patient’s data and highlight important relationships between different data sets early on.
Nokia has secured its 50th commercial 5G deal with Spark New Zealand. The Finnish company was picked for Spark’s roster of 5G suppliers in New Zealand and its 5G technology will now be deployed across the country as part of Spark’s 5G network. Nokia also closed another 5G deal recently with DOCOMO PACIFIC in Guam, in the Marianas. Under the deal, Nokia will offer its end-to-end 5G portfolio to DOCOMO PACIFIC to use in the deployment of a 5G network on the remote island in the western Pacific Ocean.
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