July 23, 2019

The daily brief: 23 July 2019

Finland-based Surrogate.tv has raised two million US dollars in seed funding ahead of the August release of its first reality-focused mini-games.
Finland-based Surrogate.tv has raised two million US dollars in seed funding ahead of the August release of its first reality-focused mini-games.

All the daily Finnish business news that works: AlphaSense, Elisa, Surrogate.tv and pilot of a wastewater sludge burning plant in Finnish Lapland make headlines.

Finnish search engine for market intelligence AlphaSense has raised 50 million US dollars, a cleaner solution for wastewater sludge treatment is being piloted in Rovaniemi, Elisa is offering the world’s first 5G roaming with a Swiss partner, and Finnish reality-focused gaming company Surrogate.tv has bagged two million US dollars.

AlphaSense raises USD 50 million

Finnish technology company AlphaSense has raised 50 million US dollars (approx. 44 million euros) in a Series B funding round led by Innovation Endeavors, which was founded by former Google CEO Eric Schmidt. Several existing investors, including the Soros Fund Management, also participated in the financing round. AlphaSense is an AI-based search engine for market intelligence that is today used by over 1 000 investment firms and corporations to improve decision-making. The latest financing brings the total funding in AlphaSense to 90 million US dollars.


Wastewater sludge burning plant piloted in Lapland

The pilot phase of the Alakorkalo wastewater sludge burning plant has started in Finnish Lapland. The plant is the first in the world to utilise the so-called PAKU process, which destroys harmful substances, such as microplastics and medical residues, in the sludge while extracting nutrients for fertilisers and energy for district heating. The plant was built by Finnish cleantech company Endev for Napapiiri Energy and Water (Neve), and it will support the circular economy in Rovaniemi, the capital of Finnish Lapland. The project has been granted a key project status by the Finnish Ministry of the Environment.

Lapland Material Bank/Marko Junttila

Elisa starts 5G roaming in Switzerland

Finnish telecommunications company Elisa has announced the world’s first 5G roaming service for its customers in partnership with Swiss operator Swisscom. Customers of the two operators are now able to use 5G networks when travelling in Switzerland and Finland. Swisscom’s 5G network currently works in more than 100 cities and villages, and the Swiss operator expects it to cover 90 per cent of the country’s population by the end of the year.


Surrogate.tv raises USD 2 million

Surrogate.tv has raised two million US dollars (approx. 1.8 million euros) in a seed funding round led by Initial Capital, with participation from PROfounders Capital, Brighteye Ventures and Business Finland. The Espoo-based startup is a gaming company that aims to rethink the game development process by bringing real-life elements into online gaming. Surrogate.tv will use the funding to rapidly build up its game portfolio and enhance its low-latency video streaming technology. It will release the first mini-games on its website in August 2019.


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

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