1、Nordic Scaleup Landscape 2022December 2022The graphic of the cover is usually an illustration/photograph.It is done by the design team.TEXT FONT:CorbelNUMBERS FONT:Open SansNO WAY TO ADD TABULAR LINING IN THE FONT SETTINGS,OPEN SANS IS THE ONE THATS CLOSER TO CORBEL NUMBERS SET IN TABULAR LININGTEXT
2、 FONT SIZE 1Page/2 Daan van der Velden Sabine Kerssenssabinetechleap.nlNordic Innovation is an organization that promotes cross border trade and innovation in the Nordic region.We aim to make the Nordics a pioneering region for sustainable growth by promoting entrepreneurship,innovation and competit
3、iveness in Nordic businesses.We support the Nordic prime ministers vision that the Nordic region will become the most sustainable and integrated region in the world in 2030.The Nordic Scaleup Landscape is part of the Nordic Scalers 2.0 program.For further information,please consult the following pag
4、e:https:/www.nordicinnovation.org/nordicscalersDealroom.co is the foremost data provider on startup,early-stage and growth company ecosystems in Europe and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organiza
5、tions to provide transparency,analysis and insights on venture capital activity.Nina EgeliSenior Innovation Advisor at Nordic Innovationn.egelinordicinnovation.orgAnna-Maija SunnanmarkHead of Program at Nordic Innovationa.sunnanmarknordicinnovation.orgChristopher Dbereiner Ecosystem Analyst at Dealr
6、oomchristopher.dobereinerdealroom.coLouis Geoffroy-TerrynGovernment Research Lead at Dealroomlouis.geoffroyterryndealroom.coPage/3 Design team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTPage/3 Nordic Innovation is proud to present the first-ever Top 1000 scal
7、eup listing as well as Nordic national rankings(Top 50),in cooperation with Dealroom.Anna-Maija SunnanmarkHead of Program atNordic Innovation“By doing this,we want to showcase Nordic scaleup entrepreneurs that have navigated their tough growth journey by innovating,achieving high growth and creating
8、 jobs.The Nordic countries lag behind the leading countries to the extent to which they scale up.One of the differences compared to the leading ecosystems is the size.Combined,the Nordic region is big enough to produce critical mass of scaleups with the desired opportunities for growth.With more sup
9、port,scaleups can become significant agents of change,solve societal challenges and function as instruments for recovering and boosting our economies.”Page/4 Nordic Scaleups not only are becoming the main asset of the ecosystem in terms of enterprise value,but keep showing promising signs of growth
10、by capturing over 80%of VC funding in Q32022,up from 45%in 2017.Over 80%of VC funding in the Nordics was directed at scaleups so far this year.Combined VC Funding Top 1000 Nordic Scaleups vs Total Nordics,2017&Q3 2022Total country combined enterprise valueSource:Dealroom.co.In Q3 2022 the Top 1000 N
11、ordic Scaleups were worth more than 60%of total combined ecosystem enterprise value in all Nordic countries.Scaleups are also driving continuously more growth in value creation&VC funding in the region by outpacing their counterparts.Nordic Scaleups are growing in relevance in the ecosystem.Enterpri
12、se Value of Top 1000 Scaleups in relation to total Nordic ecosystem value,Q3 202220172022(Q3)45%81%Top 1000 combined enterprise valueScaleups are indeed growing fast.The Top 1000 Scaleups in the Nordics have grown 5x in combined enterprise value since 2017.Scaleups have grown 5x in enterprise value
13、since 2017.Combined Top 1000 Scaleups enterprise valueSwedenFinlandDenmarkNorwayIceland71%61%77%80%76%2021340B202020172018201968B5xQ3 2022Page/5 Nordic Innovation and Dealroom have mapped the fastest-scaling companies in the region:this report introduces the first Top 1000 Nordic Scaleups.In this re
14、port,scaleups are former startups with their main center of business(HQ)in one of the five Nordic countries.A scaleup,as defined by Nordic Innovation&Nordic Scalers,combines a critical mass element,i.e.an(estimated or reported)annual revenue exceeding 2M and a(global)team of 10+,with a high-growth e
15、lement,i.e.20%year-on-year.How did we rank scaleups?This report leverages Dealroom data and Nordic innovation expertise to ensure that companies listed qualify as scaleups,or are likely to do so based on a variety of indicators including growth of their teams,recent funding,as well as Dealroom Signa
16、l.Scaleup hunting isnt easy and not all companies grow following the same pattern,therefore some companies included in this landscape may not fully meet all criteria at the time of publication,but are believed to be on path to do so in the near future.Nordic Unicorns are always included in national
17、and regional rankings regardless of their current growth rate,in recognition of the significant role they play in their respective ecosystem.What is a scaleup?SCALEUPSBy Nordic InnovationTo complement this regional overview,National rankings(Top 50)in Denmark,Finland,Norway and Sweden and Iceland(To
18、p10)are also introduced.Scaleups create jobs and value.The Top 10 scaleup industries generate 45k jobs locally and Nordic countries are among the most entrepreneurial nations in the world.Denmark,Iceland,Finland,Sweden&Norway are placed in the top 15 VC funding&combined enterprise value per capita i
19、n Europe.Annual revenue=2M+Team of 10+(globally)Annual growth=20%+Why Nordic scaleups matter.WHAT IS A STARTUP?By Nordic Innovation1.Designed to grow fast2.VC-backable business model3.Founded in or after 1990WHAT IS A STARTUP?By Dealroom1.Designed to grow fast2.VC-backable business model3.Founded in
20、 or after 1990SCALEUPSBy Nordic Innovation1.Annual revenue=2M+2.Team of 10+(globally)3.Annual growth=20%+Table of ContentsEcosystem OverviewImpact&DiversityTo change partner logos on bottom right go to Slide-Edit themeThen follow these steps:1.Right click anywhere on the slide in the Theme editor an
21、d press Guides-Show guides2.Then paste the needed logo and fit it inside the thicker red dashed(NOT DOTTED)lines.3.Then copy+paste the partner logo on all the other slides.It will paste in the same position so you dont have to adjust it again.4.If you want the logo to be white(on darker backgrounds)
22、select the logo.Go to Format Options on the top menu.Select Adjustments and move the Brightness to the far right._ p.8_ p.33National Rankings_ p.16Investor Review_ p.391Scaleups in the Nordic ecosystemDesign team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTSca
23、leups in the Nordics:key figuresChart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.Sum of the valuations of top growing scaleups in the ecosystem.Using estimated valuations based on most recent
24、VC rounds,public markets and publicly disclosed valuations.Right click on the chart from the Dealroom App.Copy image.Then paste it into the slide.Page/8 Combined Enterprise Value(Nov 2022)Total Value of Top 1000 ScaleupsSWEDENDENMARKFINLANDNORWAYICELAND191BUnicornsCumulative#of UnicornsFuture Unicor
25、nsCurrent#of Future UnicornsRising StarsCurrent#of Rising StarsVC Funding(2010-2022)By Country in Top 100088111371953921157167271493785.4B6.0B0.9B4.3B22.5BEXAMPLE TAKEN FROM THE NORDIC STATISTICS 2017 DOCUMENT,AS PER THE DESIGN MANUAL.FULLY EDITABLE WITH NEW FIGURESCONTENT IS A PLACEHOLDER62B44B30B9
26、B42B57B239B82BTop 1000 scaleupsRest of Countrys startup&scaleup ecosystem Page/9 DometicNorrsken VCBioArcticTrustpilotOlinkNIL TechnologyHexagonGenmabBavarian NordicPolestarCamurusEmbracer GroupThe combined enterprise value of the Top 1000 Nordic scaleups has grown 5x in five years,reaching 340B.DES
27、IGN CONTENTSource:Dealroom.co.Sum of the valuations of top growing scaleups in the ecosystem.Using estimated valuations based on most recent VC rounds,public markets and publicly disclosed valuations2021340B2020201720182019Page/9 68B5xCombined enterprise value of companies in the Top 1000 Nordic sca
28、leups view online 20152022 20102014 20052009 20002004 19951999 19901994 100B200B300B400B2022(year-to-date)SuperCellNorthvoltWoltPleoZettleVeoneerAnne LidgardDirector,Senior AdviserVinnovaThe Nordic countries individually have all been able to produce outstanding scaleups that make a difference on a
29、global scale,and our region is one of the most innovative regions in the world.There is so however so much more potential that can be unleashed when we pool our resources and collaborate across the Nordics.This is truly our superpower.”“Page/11 Page/11 Top 1000 Scaleups capture over 80%of VC funding
30、 in the Nordics.VC funding distribution,3-year average Top50 Top1000 Rest of the ecosystem Source:Dealroom.co.16%55%29%43%45%12%22%50%28%11%51%38%50%31%19%67.6%20.5%11.9%58.1%21.4%20.5%70.5%13.8%15.7%52.5%16.5%30.9%73.6%11.2%15.2%64.7%18.8%16.5%Page/12 Page/12 2022 is poised to be the second highest
31、 year on record for VC funding in the Nordics,following a record breaking 2021.Quarterly VC Funding into Top 1000 Nordic Scaleups view onlineAll nordic startups&scaleups Top1000 Nordic Scaleups Q3 2022DESIGN CONTENTChart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pr
32、o Normal 10ptFootnote font:Source Sans Pro Normal 6ptSource:Dealroom.co.Sum of the valuations of top growing scaleups in the ecosystem.Using estimated valuations based on most recent VC rounds,public markets and publicly disclosed valuations.Right click on the chart from the Dealroom App.Copy image.
33、Then paste it into the slide.Page/12 Q1 2021Q1 2020Q1 2019Q1 2018Q1 2022While markets have slowed after a record breaking 2021,Q3 2022 VC funding had the second highest quarterly funding volume in history.2B4B6BQ12017Q12018Q1 2019Q1 2020Q1 2021Q1 2022Q320228B238M3.4B1.9B2.5B3.9B3B2.5B6.7B3.4B7.5B4.2
34、B631MPage/13 Sweden accounts for over 50%of total VC funding into Nordic scaleups.VC Funding in Top 1000 Nordic Scaleups,2010-Nov/2022 by CountryIceland Norway Finland Denmark Sweden Chart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptFootnote font:Sourc
35、e Sans Pro Normal 6ptSource:Dealroom.co.Sum of the valuations of top growing scaleups in the ecosystem.Using estimated valuations based on most recent VC rounds,public markets and publicly disclosed valuationsRight click on the chart from the Dealroom App.Copy image.Then paste it into the slide.Page
36、/13 Sweden represents over 50%of Combined VC Funding201720182019202020212022(year-to-date)5B10B15BSweden represents over 50%of Combined VC Funding4.3B8.1B13.9B5.6B4.2B1.9B1.1BPage/14 INVESTMENT MATURITYEarly Stage Average(2020-2022)Late Stage Average(2020-2022)Early%Late%Nordics2,4808,72022%78%Denma
37、rk5741,09434%66%Finland4161,48022%78%Iceland16214652%48%Norway5811,10734%66%Sweden7864,96014%86%Scaleups take center stage of the Nordic ecosystem.SwedenFinlandDenmarkNorwayIcelandCombined enterprise value of scaleups in top 1000 as a proportion of their respective ecosystems,Q3 2022Scaleups in the
38、Top 1000 Total of national Tech ecosystems87%76%72%67%66%69B56B52B33B26B71%61%77%80%76%Funding:All of Nordics2021 16.5B2022 8.7BTop10002021 14.1B2022 7.2BFundingInvestment volume in Nordic startup ecosystemover 18 months,2021-2022 Q3Investment into Top 1000 Nordic Scaleups Total Investment into Nord
39、ic startupsTop 1,000 Nordic Scaleups84%VC funding into Nordic scaleups,2021-2022 Q3Top 1000 Nordic Scaleups Total VC funding in Nordic startups26B22BSource:Dealroom.co.Page/15 Page/15 FintechSource:Dealroom.co.Startups usually belong to one industry but may be part of up to two industries.Double cou
40、nting may occur as a result.To highlight something in a bar chart,make all the bars grey#e0e0e0ff and the highlighted bar a brighter colour.DESIGN CONTENTChart labels+legend font:Source Sans pro Normal 8-10ptChart title font:Source Sans pro Normal 10ptPage/15 Health,Semiconductors and Transportation
41、 sectors are the most highly valued among the Top 1000 Nordic Scaleups,however Fintech leads by employment.Top 1000 Nordic Scaleups,enterprise value by industry(Q3 2022)SemiconductorsHealthTransportationEnterprise SoftwareGamingFintechEnergyRoboticsMediaMusicTelecom67B53B50B36B34B33B27B20B16B11BFood
42、18BTop 1000 Nordic Scaleups,jobs by Industry(H1 2022)HealthEnergyEnterprise SoftwareEcommerceFoodGamingMusicMediaMarketingTelecom9.3k8.6k4.8k4.4k3.6k3.5k3.2k2.9k2.5k1.7k1.6kTransportation2.1k11BPage/16 Design team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptAs a high-growth
43、 company during the pandemic,we scaled up our production and service capability as quickly as the pharmaceutical industry scaled up its vaccine production,achieving global reach with a groundbreaking monitoring solution that helps keep patients safe.”Gisli HerjolfssonCEOat ControlantNordic Scaleup A
44、wards 2022 Special Recognition“Combined Enterprise Value of Health Nordic Scaleups,2017-Q3 2022 view online14B20172018201920202021Q3 202216B22B40B70B67BThe combined enterprise value of Nordic Health scaleups grew over 4-fold in just 5 years.Source:Dealroom.co.Page/17 Karlstad80 Unicorns across 17 ci
45、ties in the Nordics.Nordic cities with 1+Unicorn(s)Nordic cities with 1 unicorn(founded or HQ)Nordic cities with 2+unicorns(founded or HQ)New Nordic unicorn cities(first unicorn since 2021)Throughout Europe,402 startups,from over 65 cities have surpassed a 1 billion valuation.London:65Berlin:17Amste
46、rdam:11Munich:9Paris:16Stockholm:13Manchester:5Oxford:5Madrid:3Edinburgh:3Zurich:4Stuttgart:2Basel:3Hamburg:3Bucharest:2Helsinki:2Vienna:2Barcelona:3Dublin:2Cities with at least one 1 billion+startup(“unicorn”)Cambridge:5Brussels:2Prague:1Copenhagen:3Tallinn:3Budapest:1Milan:3Vilnius:1Warsaw:1Lisbon
47、:1Kiev:1Valencia:1Bristol:3Leeds:2Dsseldorf:2Roubaix:1Glasgow:1Orsay:1Source:Dealroom.co.October 2022ReykjavkBorsMo i RanaAarhusOuluGteborgCopenhagenEspooMalmLundTrollhttanUppsalaKoldingNedre VatsHelsinkiOsloStockholmPage/18 39Design team can help with graphics of the divider slides.Font:Open Sans B
48、old 30 ptDESIGN CONTENTStefan JanssonCEOat PolariumNordic Scaleup of the Year 2022“An impactful quote that contributes to make the conversation develop,with interesting insights.”Name of the contributorPosition atName of the companyQUOTELOGOIn the last decade,weve seen the development of several suc
49、cessful Nordic-specifically Swedish-companies,putting our region on the map for bold entrepreneurship and impactful tech innovation.”“Cumulative number of Nordic and Swedish unicorns view online Nordic scaleups which made it past the 1B milestone at one point2020312012201711NOW435 63 The Nordics hav
50、e created more unicorns since 2020 than ever before.Source:Dealroom.co.67Page/19 Design team can help with graphics of the divider slides.Heikki NousiainenFounder&Field CTO at AivenNordic Scaleup of the Year 2022Page/19 To bring great products to life,its key to focus on finding the right people wit
51、h the right skills.Add to that,an obsession with the customer-what value you provide them,how they find you,how you support them-and success will follow.”“Jan Lytje-HansenCEO&Founderat ViabillNordic Scalers AlumNordic industries are open,curious and innovative,which allows for early adopters,includi
52、ng big companies.This gives a good basis for launching,testing,and iterating on your product before scaling to other parts of the world.”“Page/20 71714414Nordics have produced 9 unicorns since the start of 2022.Yearly unicorn creation has increased 7x since the start of the pandemic.Source:Dealroom.
53、co.A unicorn is defined as a rapidly scaling company(and tech enabled)that has reached a 1 billion valuation,on the basis of a funding round(unrealised),acquisition or IPO(realised).Further details can be found at this link.Playway is publicly listed.Now trading below 1B but crossed it some months a
54、go.29 Nordic scaleups became Unicorns since 2021.Cumulative number of Nordic Unicorns2015201620172018201920202021H1 202278111319315059204060SwedenFounded:2006 Industry:FashionNorwayFounded:2013 Industry:MediaSwedenFounded:2015Industry:EnergyFinlandFounded:2013 Industry:HealthFinlandFounded:2005 Indu
55、stry:EnterpriseNorwayFounded:2015Industry:FintechSwedenFounded:2016 Industry:Transport.SwedenFounded:1998 Industry:EnterpriseSwedenFounded:2005Industry:Media2021 Unicorns2022 UnicornsNordic scaleups-turned-unicorns since 2021SWEDENNORWAYFINLANDDENMARKICELANDGrowth in number of Nordic Unicorns,2020-2
56、022SWEDENNORWAYFINLANDDENMARKICELANDNordic Unicorns in numbers.2021 Unicorns2022 Unicorns6926Page/21 Helen GjesterSpecial Advisor atDept.Commercialisation and Growth Innovation NorwaySource:Dealroom.co.Population data from EuroStat.Design team can help with graphics of the divider slides.Font:Open S
57、ans Bold 30 ptPage/21 400200600800United StatesDACHNordics360+80+650+Top 1000 Scaleups have helped drive VC funding in the Nordics.VC Funding per Capita,Q1-Q3 2022Total Region Funding per Capita Nordic Top 1000 Scaleup Funding per CapitaThe ecosystem in the Nordics is fast growing,but is not as matu
58、re as Silicon Valley nor the likes.Thus,there is a great potential to accelerate performance.Governmental stakeholders can play a key role correcting market failures in order to scale innovative tech solutions,contributing to the Nordics taking a lead in the green shift.”“290European Average110+2Nat
59、ional RankingsDesign team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTPage/23 NordhealthDispelixYousicianTactoTekFiksu Ruoka Oy(Foodello)Redhill GamesFlowhavenNanoformHaltianBrellaNightingale HealthJobilla OySensible 4Leadoo MTVainuGubbeBolt.Works OyEvondos Lt
60、dBasemark OyUnikieKodit.ioSmartly.ioPicosunBlueprint GeneticsSSH CommunicationsHappyOrNotSilo.AIFreskaiLOQEficodeMiradoreHeltti OyHoxHuntMashDigital Workforce Nordic OyNostoKaiku Health(NetMedi Oy)Nordic Scalers Alumnus1x Supported companies in Top 50 2022The combined value of the Danish top 50 H1 2
61、022Top 50 scaleups 2022 in(median)numbersDiscover Top 50 DanishScaleups 2022 view online51.6BDenmarkJob creation6.6K+In DenmarkAbroad6.7K+Top sectors in Top 50 2022Healthtech7Foodtech6Energy5In DenmarkAbroad6.6K+in Denmark6.7K+abroad76Team Members(HQ)215MMedian Enterprise Value7.5 yearsAge41MFunding
62、Job creation,20226.7K+abroad6.6K+in Denmark134Team Members(HQ)252MMedian Enterprise Value7.0 yearsAge55MFundingThe combined value of the Danish top 50 H1 202254BSupported companiesin Top 50 20221xNordic Scalers AlumnusTop sectors in Top 50 2022HealthtechEnergyFintech765AbroadIn Denmark6.2k+6.2k+TOP5
63、0:SCALINGTop 50 scaleups 2022in median numbersSource:Dealroom.co.Employment numbers in HQ country and abroad do not have overlap.Page/24 Future UnicornsRANKNAMEHQ CITY9EverfuelAulum10DixaCopenhagen1121St.BioCopenhagen12PodimoCopenhagen13VeoCopenhagen14LeapworkCopenhagen15LabsterCopenhagen16Green Hyd
64、rogen SystemsKolding17Muna TherapeuticsCopenhagen18ViaBillCopenhagen19TemplafyFlemming20ADCendoCopenhagen21Hemab TherapeuticsCopenhagen22Lenus eHealthHellerup23ENORMFlemming24NMD PharmaAarhus25MinervaxHellerup26Blue Ocean RoboticsOdenseDenmarkTOP50:SCALINGUnicornsRANKNAMEHQ CITY1GenmabCopenhagen2Asc
65、endis PharmaHellerup3PleoCopenhagen4Bavarian NordicHellerup5LunarAarhus6TrustpilotCopenhagen7Saxo BankHellerup8Zealand PharmaSborgRising starsRANKNAMEHQ CITY27ZeroNorthCopenhagen28SNIPR BiomeCopenhagen29SymphogenBallerup30CYTOKIVrlse31MontaCopenhagen32Blue World TechnologiesAalborg33CleverCopenhagen
66、34Too Good To GoCopenhagen35MedTraceKongens Lyngby36ReformCopenhagen37CortiCopenhagen38Liva HealthcareCopenhagen39Dawn HealthCopenhagen40KompasbankVedbk41AgreenaCopenhagen42Raffle.aiCopenhagen43FamlyFrederiksberg44RFRSH EntertainmentCopenhagen45Seaborg TechnologiesCopenhagen46PenneoSborg47TamigoCope
67、nhagen48ComplyCloud ApSCopenhagen49FreightifyCopenhagen50WoomioCopenhagenEnergyAlum1x Supported companies in Top 50Job creation6.6K+In DenmarkAbroad6.7K+Nordic Scalers AlumnusPage/25 FinlandTOP 50:SCALINGNordhealthDispelixYousicianTactoTekFiksu Ruoka Oy(Foodello)Redhill GamesFlowhavenNanoformHaltian
68、BrellaNightingale HealthJobilla OySensible 4Leadoo MTVainuGubbeBolt.Works OyEvondos LtdBasemark OyUnikieKodit.ioSmartly.ioPicosunBlueprint GeneticsSSH CommunicationsHappyOrNotSilo.AIFreskaiLOQEficodeMiradoreHeltti OyHoxHuntMashDigital Workforce Nordic OyNostoKaiku Health(NetMedi Oy)Top sectors in To
69、p 50Healthtech7Fintech5Enterprise Software5eCommerce42022 NomineeAlum2x 1x Supported companies in Top 50Job creation5.6K+In FinlandAbroad4.3K+The combined value of the Finnish top 50Top 50 scaleups in(median)numbers71Team Members(HQ)102MEV8.0 yearsAgeDiscover Top 50 Finnish Rising Stars view onlineU
70、pdate Picture26B24MFundingNordic Scaler Alum1x Supported companies in Top 50 2022The combined value of the Finnish top 50 H1 2022Top 50 scaleups 2022 in(median)numbersDiscover Top 50 Finnish Scaleups 2022 view online30.1BFinlandTop sectors in Top 50 2022Healthtech7Fintech5Enterprise Software55.6K+in
71、 Finland4.3K+abroadJob creation71Team Members(HQ)102MMedian Enterprise Value8.0 yearsAge24MFundingeCommerce4Nordic Scaleup Awards 2022 Finalist2x Job creationTop 50 scaleups 2022in median numbers127Team Members(HQ)120MMedian Enterprise Value8.0 yearsAge33.4MFundingThe combined value of the Finnish t
72、op 50 H1 202238BSupported companiesin Top 50 20221xNordic Scalers AlumnusTop sectors in Top 50 2022HealthtechEnterprise SoftwareMarketing755In FinlandAbroad6.4k+8.0k+2xNordic Scaleup Awards 2022 FinalistTOP50:SCALINGSource:Dealroom.co.Employment numbers in HQ country and abroad do not have overlap.F
73、inlandUnicornsRANKNAMEHQ CITY1SupercellHelsinki2WoltHelsinki3Relex SolutionsHelsinki4AivenHelsinki5URAOulu6The Qt CompanyEspoo7HMD GlobalEspoo8RovioEspooFuture UnicornsRANKNAMEHQ CITY9IQM Quantum ComputersEspoo10ICEYEEspoo11SwappieHelsinki12EnfuceEspoo13SupermetricsHelsinkiRANKNAMEHQ CITY23BeneqEspo
74、o24TesseractHelsinki25Bob WHelsinki26EvondosSalo27Fiksu Ruoka(Foodello)Espoo28SHelsinki29UpCloudHelsinki30CanatuHelsinki31Sharper ShapeHelsinki32ZevoyEspoo33MetacoreHelsinki34Blueprint GeneticsEspoo35EfecteEspoo36UnikieTampere37HowspaceHelsinki38Kodit.ioHelsinki39HaltianOulu40NanoformHelsinki41Swarm
75、iaHelsinki42JobillaHelsinki43BasemarkHelsinki44NostoHelsinki45AibidiaHHelsinki47MiradoreLappeenranta48Bolt.Works Helsinki49KeliberKaustinen50SievoHelsinkiTOP 50:SCALINGRising starsRANKNAMEHQ CITY14NordhealthEspoo15SpinnovaJyvskyl16VarjoHelsinki17HoxHuntHelsinki18Infinite Fiber CompanyEspoo19eBrandsH
76、elsinki20DispelixEspoo21YousicianHelsinki22Aiforia|FimmicHelsinkiNordic Scalers AlumnusNordic Scaleup Awards 2022 FinalistNordic Scaleup of the Year 2022Page/27 NordhealthDispelixYousicianTactoTekFiksu Ruoka Oy(Foodello)Redhill GamesFlowhavenNanoformHaltianBrellaNightingale HealthJobilla OySensible
77、4Leadoo MTVainuGubbeBolt.Works OyEvondos LtdBasemark OyUnikieKodit.ioSmartly.ioPicosunBlueprint GeneticsSSH CommunicationsHappyOrNotSilo.AIFreskaiLOQEficodeMiradoreHeltti OyHoxHuntMashDigital Workforce Nordic OyNostoKaiku Health(NetMedi Oy)The combined value of the Norwegian top 50Top 50 scaleups in
78、(median)numbers49Team Members(HQ)71MEV7.0 yearsAgeDiscover Top 50 Norwegian Rising Stars view onlineUpdate Picture19B20MFundingNorwayTOP 50:SCALINGJob creation3.9K+In NorwayAbroad2.9K+Top sectors in Top 50Energy8Enterprise Software7Fintech5Gaming4Robotics42022 NomineeAlum1x 2x Supported companies in
79、 Top 50The combined value of the Norwegian top 50 H1 2022Top 50 scaleups 2022 in(median)numbersDiscover Top 50 Norwegian Scaleups 2022 view online22.5BNorwayTop sectors in Top 50 2022Energy7Enterprise Software6Fintech53.9K+in Norway2.9K+abroadJob creation49Team Members(HQ)71MMedian Enterprise Value7
80、.0 yearsAge20MFundingGaming4Robotics41x Supported companies in Top 50 20222x Nordic Scaler AlumNordic Scaleup Awards 2022 FinalistJob creationTop 50 scaleups 2022in median numbers101Team Members(HQ)153MMedian Enterprise Value8.0 yearsAge31.8MFundingThe combined value of the Norwegian top 50 H1 20222
81、5BSupported companiesin Top 50 20221xNordic Scalers AlumnusTop sectors in Top 50 2022EnergyEnterprise SoftwareFintech1075In NorwayAbroad3.3k+4.3k+2xNordic Scaleup Awards 2022 FinalistTOP50:SCALINGSource:Dealroom.co.Employment numbers in HQ country and abroad do not have overlap.NorwayUnicornsRANKNAM
82、EHQ CITY1AutostoreNedre Vats2CogniteBrum3FREYRMo i Rana4Kahoot!Oslo5OdaOslo6GelatoOslo7Dune AnalyticsOslo8RemarkableOslo9Nykode TherapeuticsOslo10Link Mobility GroupOslo11OperaOsloFuture UnicornsRANKNAMEHQ CITY12REC SILICON ASASetskog13NeatOslo14MorrowOslo15TibberFrde16ArdoqOslo17XenetaOslo18PortalO
83、neOslo19ReltimeBrum20Vic.aiNew York CityRANKNAMEHQ CITY24NoveldaOslo25Elliptic LabsOslo26AttensiOslo27TiseOslo28Rpa SupervisorBergen29ONNA FarmingOslo30Wheel.meOslo31Hydrogen Mem-TechOslo32DocumasterOslo33ZividOslo34SpinChip DiagnosticsOslo35Nordic UnmannedOslo36UnleashOslo37Aprila BankOslo38SpondOs
84、lo39FundingpartnerOslo40HuddlyOslo41AntecOslo42HjemmelegeneOslo43QuantfolioBergen44Zelluna ImmunotherapyOslo45ShorelineStavanger46NordavindOslo47FuncomOslo48Boost AISandnes49CHOOSEOslo50Disruptive TechnologiesBrumTOP 50:SCALINGRising starsRANKNAMEHQ CITY21ZaptecStavanger22OtovoOslo23HydrogenPro ASPo
85、rsgrunnNordic Scaleup Awards 2022 Finalist&Nordic Scalers AlumnusNordic Scalers AlumnusNordic Scalers AlumnusNordhealthDispelixYousicianTactoTekFiksu Ruoka Oy(Foodello)Redhill GamesFlowhavenNanoformHaltianBrellaNightingale HealthJobilla OySensible 4Leadoo MTVainuGubbeBolt.Works OyEvondos LtdBasemark
86、 OyUnikieKodit.ioSmartly.ioPicosunBlueprint GeneticsSSH CommunicationsHappyOrNotSilo.AIFreskaiLOQEficodeMiradoreHeltti OyHoxHuntMashDigital Workforce Nordic OyNostoKaiku Health(NetMedi Oy)The combined value of the Swedish top 50Top 50 scaleups in(median)numbers136Team Members(HQ)789MEV10.5 yearsAgeD
87、iscover Top 50 Swedish Rising Stars view onlineUpdate Picture161B68MFundingSwedenTOP 50:SCALINGJob creation16.5K+In SwedenAbroad21.8K+Top sectors in Top 50Fintech7Healthtech7Energy6Transportation6Enterprise Software3Gaming3eCommerce3Food32022 NomineeAlum3x 1x Supported companies in Top 50The combine
88、d value of the Swedish top 50 H1 2022Top 50 scaleups 2022 in(median)numbersDiscover Top 50 Swedish Scaleups 2022 view online161BSwedenTop sectors in Top 50 2022Fintech7Healthtech7Energy621.8K+in Sweden16.5K+abroadJob creation136Team Members(HQ)789MMedian Enterprise Value10.5 yearsAge68MFundingTransp
89、ortation6Enterprise Software31x Supported companies in Top 50 20223x Gaming3eCommerce3Food3Nordic Scaler AlumnusNordic Scaleup Awards 2022 FinalistJob creationTop 50 scaleups 2022in median numbers455Team Members(HQ)1.3BMedian Enterprise Value13.5 yearsAge101.7MFundingThe combined value of the Swedis
90、h top 50 H1 2022172BSupported companiesin Top 50 2022Top sectors in Top 50 2022HealthtechEnergyTransportation654In SwedenAbroad17.2k+28.1k+2xNordic Scaleup Awards 2022 FinalistFintech6TOP50:SCALINGSource:Dealroom.co.Employment numbers in HQ country and abroad do not have overlap.UnicornsRANKNAMEHQ C
91、ITY26MIPS ABTby27PolariumStockholm28ByredoStockholm29TrustlyStockholm30StorytelStockholm31Voi TechnologyStockholm32InstaboxStockholm33BHG GroupMalmo34BooztMalmo35Revolution RaceBorsSwedenUnicornsRANKNAMEHQ CITY1Hexagon ABStockholm2PolestarGothenburg3SpotifyStockholm4EmbracerKarlstad5NorthvoltStockho
92、lm6KlarnaStockholm7SinchStockholm8Dometic GroupSolna kommun9VeoneerStockholm10BioarcticStockholm11NetEnt(Net Entertainment)Stockholm12CintStockholm13TruecallerStockholm14Mojang StudiosStockholm15Olink ProteomicsUppsala16IZettleStockholm17OatlyMalmo18ItivitiStockholm19Paradox IndexStockholm20KryStock
93、holm21BamboraStockholm22CamurusLund23EinrideFgelvikshjden24NCAB GroupStockholm25Epidemic SoundStockholmTOP 50:SCALINGFuture UnicornsRANKNAMEHQ CITY36BudbeeStockholm37MentimeterStockholm38PowerCell SwedenGothenburg39QuinyxStockholm40Volta TrucksSigtuna41SyncronStockholm42NicksSundbyberg43JuniGothenbu
94、rg44TeamtailorStockholm45CalliditasStockholm46H2 Green SteelStockholm47FunnelStockholm48PlanhatStockholm49AnoccaSdertlje50Matsmart-MotatosStockholmTop sectors in Top 50Fintech7Healthtech7Energy6Transportation6Enterprise Software3Gaming3eCommerce3Food32022 NomineeAlum3x 1x Supported companies in Top
95、50Job creation16.5K+In SwedenAbroad21.8K+Nordic Scaleup Awards 2022 FinalistNordic Scaleup Awards 2022 Finalist231114Healthtech2Enterprise Software1Fintech1Transportation1Foodtech1Traveltech2022 Nominee1x Supported companies in Top 50Job creation1K+In IcelandAbroad0.6K+Top sectors in Top 10IcelandTO
96、P 10:SCALINGDiscover Top 10 Icelandic Scaleups 2022 view onlineIcelandTOP10:SCALINGUnicornsRANKNAMEHQ CITY1AlvotechReykjavkRising starsRANKNAMEHQ CITY2Sidekick HealthReykjavk3CoripharmaHafnarfjordur4Good GoodReykjavk5KerecisReykjavk6ControlantReykjavk7LucinityReykjavk8DohopReykjavk9Activity StreamRe
97、ykjavk10SlingReykjavkNordic Scaleup 2022 Special RecognitionTop sectors in Top 50 2022Healthtech4Enterprise Software2Fintech11.0K+in Iceland0.6K+abroadJob creationTransportation1Foodtech1Traveltech11x Supported companies in Top 50 2022Nordic Scaleup Awards 2022 FinalistJob creationSupported companie
98、sin Top 50 2022Unicorns1xNordic Scalers AlumnusTop sectors in Top 50 2022HealthtechEnterprise SoftwareFintechIn IcelandAbroad1.1k+0.6k+TransportationFoodtechRANKNAMEHQ CITY1AlvotechReykjavkRising starsRANKNAMEHQ CITY2KerecisReykjavk3Sidekick HealthKpavogur4CoripharmaHafnarfjrur5Good GoodReykjavk6Luc
99、inityReykjavk7ControlantReykjavk8GRIDReykjavk9DohopReykjavk10Activity StreamReykjavkNordic Scaleup 2022 Special RecognitionSource:Dealroom.co.Employment numbers in HQ country and abroad do not have overlap.FIND OUT MOREBrowse through Nordic Scaleups on Dealroom.Page/33 Design team can help with grap
100、hics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTPage/33 Find out moreBrowse through Jobs in the Nordics Top Scaleups.The Nordics is a great place to find talent to operate in the type of working culture we want to build-entrepreneurial,innovative,humble,and willing to do things dif
101、ferently.”Ilkka MkitaloCEO&Founderat HowspaceNordic Scaleup Awards 2022 Finalist“FIND OUT MOREBrowse through jobs in the Nordics Top Scaleups.3Impact&DiversityDesign team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTPage/35 Impact Scaleups have become an increa
102、singly significant part of the Nordic tech ecosystem in the last five years.Source:Dealroom.co.Dealroom consider an impact startup to be a company with a product or service that is directly addressing one or more of the UN Sustainable Development Goals(SDGs).Design team can help with graphics of the
103、 divider slides.Font:Open Sans Bold 30 ptNumber of StartupsCombinedEnterprise ValueCombined VC FundingImpact scaleups featured in the Top 1000 All impact Nordic startups(incl.scaleups)All impact Nordic startups(incl.scaleups)2017Q3 20222471,51557.7B326M3.1B65.7B332.0B1.2B8.0B2017Q3 2022Q3 20222.3BEr
104、ik MartinsonCEO&Co-founder atSvea SolarNordic Scaleup Awards 2022 FinalistSweden and the Nordics are at the forefront of the green revolution.Innovation and new technologies is the only way forward.We are doing all we can to eliminate fossil fuels here solar power has a major role to play.”“Design t
105、eam can help with graphics of the divider slides.Font:Open Sans Bold 30 ptJust 17%of founding teams in the Top 1000 scaleups have at least one female founder.Page/36 All Female+Mixed Founding Teams(%)Source:Dealroom.co.Analysis based on 747 scaleups with available founder gender data.All male83%Mixe
106、d Teams13%All female4%Lena RiisCMOat DocumasterNordic Scalers AlumOur experience when scaling our business in the Nordics is not to underestimate local market factors.You can learn a lot doing marketing activities before you have feet on the ground.”“Page/37 Almi Invest One of the largest VC investo
107、rs in the nordics,the fund has invested in over 70 impact related companies in the Nordic region.Combined enterprise value of flemish spinouts2021 YTD4B20192018201720166.0B1.0B1.7B562M20202.0BNumber of spinouts by countryGermanyFranceNetherlandsSwedenFinlandSwitzerland552171302663Spain14Italy13Austr
108、ia6Source:Dealroom.co Spinouts contribution to combined enterprise valueSwedenParisNetherlandsBavariaBerlinSwitzerland6026122322776Madrid16Portugal15Flanders18%The value of Nordic Impact Scaleups has grown 30 x in just 5 years.Combined Enterprise Value of Impact Nordic Scaleups,2017-Q3 2022 view onl
109、ine20172018201920202021Q3 20222B4B8B17B67B60BSelect Active Nordic Impact InvestorsNorrsken VCWith over 80%of the portfolio linked to impact,the fund has invested in over 25 impact companies such as Northvolt and Einride.Lifeline Ventures The Finnish fund has invested in more than 15 impact companies
110、 of the likes of URA,ICEYE and Swappie.4Investor ReviewDesign team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTPage/39 Source:Dealroom.co.2022 fundraising estimate based on annualized funding until Oct/2022.After a record 55B was raised in 2021,2022 is now on
111、track to become the second highest investor fundraising year for Nordic investors.New funds raised by Nordic investors view online55.2B14.3B15.2B27.6B12.3B6.6B7.6B2.9B46.8B201420152016201720182019202020212022(year-to-date)42.9BSweden2.3B Private Equity Fund Jan/2022NorwayNorwaySweden1.8B Private Equ
112、ity Fund Jun/20217.9B Private Equity Fund May/202215.0B Private Equity Fund Aug/2022Selected Nordic-based new fundsEQT 15.0B Private Equity FundAugust 2022 Nordic Capital 7.9B Private Equity FundMay 2022 Summa Equity2.3B Private Equity FundJanuary 2022 FSN Capital1.8B Private Equity FundJune 2021Pag
113、e/40 Top 10 investors based in the Nordics.Portfolio Size:82Prominence Rank:39Source:Dealroom.co.Prominence Rank used is Global Multistage EMEA Prominence Rank 2022.Prominence Rank is a data-based ranking of investors capacity to back unicorns&future unicorns,more details can be found here.Portfolio
114、 Size:75Prominence Rank:40Portfolio Size:130Prominence Rank:56Portfolio Size:205Prominence Rank:114Portfolio Size:64Prominence Rank:125Portfolio Size:137Prominence Rank:11Portfolio Size:186Prominence Rank:282Portfolio Size:111Prominence Rank:98Portfolio Size:100Prominence Rank:223Portfolio Size:26Pr
115、ominence Rank:232PROMINENCE RANK_ 2022Based onCreandumPortfolio Size:137Prominence Rank:11EQT GroupPortfolio Size:205Prominence Rank:114HeartcorePortfolio Size:130Prominence Rank:56NorwayDenmarkSwedenFinlandSeed CapitalPortfolio Size:111Prominence Rank:98LifelineInventurePortfolio Size:75Prominence
116、Rank:40Portfolio Size:100Prominence Rank:223KinnevikPortfolio Size:82Prominence Rank:39Verdane Portfolio Size:186Prominence Rank:282Alfvn&DidriksonPortfolio Size:137Prominence Rank:11VNV GlobalPortfolio Size:64Prominence Rank:125Top 10 foreign late stage investors investing in the Nordics.Source:Dea
117、lroom.co.Prominence Rank used is Global Multistage EMEA Prominence Rank 2022.Prominence Rank is based on Late stage investors are those whose preferred round is after a Series B.Prominence Rank is a data-based ranking of investors capacity to back unicorns&future unicorns,more details can be found h
118、ere.851Palo Alto,US1131London,UK1232Palo Alto,US1353Edinburgh,UK1532San Francisco,USInvestorInvestor Prominence RankingLate Stage Investments in the NordicsHQINVESTORINVESTOR PROMINENCE RANKLATE STAGE INVESTMENTSIN THE NORDICSHQ2335385758Tokyo JAPANNew York USLondon UKNew York USSingapore SINGAPORE6
119、7235INVESTORINVESTOR PROMINENCE RANKLATE STAGE INVESTMENTSIN THE NORDICSHQ85113123135153Palo Alto USLondon UKPalo Alto USEdinburgh UKSan Francisco US11232Page/41 Page/42 Late-stage VC funding volume in 2022 more than doubled in relation to pre-pandemic levels.Nordics Late Stage VC Funding10B6B2B2017
120、20192018202020212022 year-to-date4.7B10.8B3.8B2.9B1.2B0.7BSource:Dealroom.co.Late-Stage rounds considered rounds after a Series B.Convertible and Private Placement VC rounds not considered.Page/43 Design team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTSimo Sa
121、lmensuuCEOat MiradoreNordic Scalers AlumPage/43 Nordic countries are excellent places to scale up businesses.Their world-class universities and other higher education programs ensure that companies can find talented people to tackle todays challenges.”“Johnny WarstrmCEO&Co-founder at MentimeterNordi
122、c Scaleup Awards 2022 FinalistIts much more interesting to be part of creating a great tech hub than to join an existing one.We believe the Nordics can grow even further as a tech hub,and wed love to be a driving force.There is a wealth of talent and expertise here that can be drawn towards those la
123、rger tech hubs if there isnt one closer to home.”“Page/44 Page/44 55MGrowth EquityJun 202240MSeries DSep 202240MSeries AMay 202240MSeries BMay 202238MGrowth EquityAug 20221.10BConv.Jul 20220.80BGrowth EquityJul 20220.50BGrowth EquityFeb 20220.21BSeries DMay 20220.19BLate VCApr 2022260MSeries CFeb 20
124、22190MSeries BAug 2022136MSeries DFeb 2022125MSeries DMar 2022128MSeries AJul 2022Unicorns and Future Unicorns have raised significant funding rounds.Largest Unicorn Roundssince 2022Largest Future Unicorn Rounds since 2022Largest Rising Star Rounds since 2022Source:Dealroom.co.Conv.is an abbreviatio
125、n for a Convertible round.Private Placem.Is an abbreviation for Private Placement VC round.1.10B0.80B0.50B0.21B0.19BConv.Growth EquityGrowth EquitySeries DLate VCFeb 2022Jul 2022Feb 2022May 2022Apr 2022Largest Future Unicorn Roundssince 2022260M190M136M125M128MSeries CSeries BSeriesDSeries DSeries A
126、Feb 2022Aug 2022Feb 2022Mar 2022Jul 2022Largest Rising Stars Roundssince 20221.10B0.80B0.50B0.21B0.19BConv.Growth EquityGrowth EquitySeries DLate VCFeb 2022Jul 2022Feb 2022May 2022Apr 2022Page/45 3.8B4.7B2.4B2.3B2.3B1.8B1.2BNordic late-stage investment has been driven by Domestic&European investors
127、such as Baillie Gifford,Danske Bank and the Volkswagen Group.Nordics VC Funding,Early Stage vs Late StageEarly Stage Late StageSource:Dealroom.co.Late-Stage rounds considered rounds after a Series B.Convertible and Private Placement VC rounds not considered.20B15B10B5B201720192018202020212022 year-t
128、o-date4.7B10.8B3.8B2.9B0.7BLate-stage Nordic VC funding is consistently gaining relevance.2022 is already the second-highest late-stage funding volume in history.Page/46 Nordics Late-VC Funding by Investor Origin view online Undisclosed HQ Rest of World Asia USA Europe Domestic 201720192018202020212
129、022 year-to-date100%80%60%40%20%Domestic&European investors represent 50%of total late-VC funding in the region.Suggest removing(not adding investor logos)Source:Dealroom.co.Baillie GiffordNorrsken VCWolkswagenEQT GroupAtomicoKinnevikNorthzoneGoldman SachsSilverLakeSequoiaBlackRockSoftBankMirae Asse
130、tsMubadalaVintage Investment Maturity,3-year averageOrigin of investors,3-year average DomesticEuropeUSAsiaINVESTMENT MATURITYEarly Stage Average(2020-2022)Late Stage Average(2020-2022)Early%Late%Nordics2,4808,72022%78%Denmark5741,09434%66%Finland4161,48022%78%Iceland16214652%48%Norway5811,10734%66%
131、Sweden7864,96014%86%RoW4%10%26%28%32%DomesticUSEuropeAsiaRoW6%6%16%31%41%USDomesticEuropeAsiaRoW9%8%24%28%31%66%late stage34%early stage48%late stage52%early stageUSEuropeDomesticRoWAsia7%8%22%23%40%Late-Stage Investment in the Nordics66%34%Early stageLate stage22%34%52%78%14%86%66%48%Investment sta
132、ge3-year average,distributionInvestment stage3-year average,valuesLate stage46%Early stage54%Late stage55%Early stage55%Late stage31%Early stage69%Late stage53%Early stage47%Late stage75%Early stage25%Europe 66%US 28%Domestic 26%RoW 10%Asia 4%US 28%Domestic 26%Europe 31%US 41%Domestic 16%RoW6%Asia 6
133、%Europe 37%US 12%RoW13%Asia 19%Domestic 18%40%Europe 40%US 22%Domestic 23%RoW 7%Asia 8%Europe 28%US 28%RoW8%Asia 9%Domestic 31%Source:Dealroom.co.Analysis based on Nordic region as a whole and not solely on Top 1000 Scaleups.835M721M734M916M120M53M615M697M1.3B4.0BEarly stageLate stageInvestment Matu
134、rity,3-year averageOrigin of investors,3-year average DomesticEuropeUSAsiaRoW4%10%26%28%32%DomesticUSEuropeAsiaRoW6%6%16%31%41%USDomesticEuropeAsiaRoW9%8%24%28%31%48%late stage52%early stageUSEuropeDomesticRoWAsia7%8%22%23%40%Where the funding comes from66%34%Early stageLate stage22%34%52%78%14%86%6
135、6%48%Early-stage investment volume:origin of investors3-year averageLate-stage investment volume:origin of investors3-year averageEurope 66%US 28%Domestic 26%RoW 10%Asia 4%Source:Dealroom.co.Analysis based on Nordic region as a whole and not solely on Top 1000 Scaleups.Asia 3%RoW 1%Europe 31%US 18%D
136、omestic 25%Undisclosed HQ 22%Asia 7%RoW 1%Europe 28%US 17%Domestic 32%Undisclosed HQ 15%Asia 2%RoW 2%Europe 32%US 7%Domestic 32%Undisclosed HQ 26%Asia 3%Europe 18%US 27%Domestic 30%Undisclosed HQ 22%Asia 4%Europe 28%US 10%Domestic 42%Undisclosed HQ 16%Asia 5%Europe 31%US 26%Domestic 28%Undisclosed H
137、Q 11%Asia 8%Europe 31%US 47%Domestic 9%Undisclosed HQ 5%Europe 63%US 17%Domestic 19%Asia 15%Europe 44%US 8%Domestic 20%Undisclosed HQ 9%RoW4%Asia 11%Europe 25%US 27%Domestic 28%Undisclosed HQ 3%RoW6%Page/49 Page/49 Number of Nordic Acquisitions and Buyouts view onlineDesign team can help with graphi
138、cs of the divider slides.Font:Open Sans Bold 30 pt200100300344152345Number of acquisitions and buyouts are on track to be a record-breaking year.Source:Dealroom.co.201420152016201720182019202020212022(year-to-date)20132012Page/50 Public Nordic Scaler Alumni340B1.7BCombined enterprise value of Nordic
139、 Scalers in Top 1000 Nordic ScaleupsCombined enterprise value of Top 1000 ScaleupsAcquired Nordic Scaler AlumniSupport programs have a key role in creating success cases,but still have room to grow.Source:Dealroom.co.Knut Roar WiigCEO at Nordic UnmannedNordic Scalers Alum&Nordic Scaleup Awards 2022
140、FinalistGrowth does not need to be a slow process.You decide.We have made many mistakes along the way,but we have corrected ourselves and learned.We are focused on never finding ourselves stuck in our comfort zone.”“Page/51 https:/app.dealroom.co/companies/nordic_unmanned Only IPO from last program,
141、but was in 2020,not 2022.Erja RetznSenior Managing Director atGlobal Listing Services,Nasdaq NordicIn the Nordic and Baltic markets where Nasdaq operates both regulated markets and growth markets(Nasdaq First North),we have seen a record number of companies leveraging the equity markets for financin
142、g leading Nasdaq First North to be the strongest SME market in the EU during the past few years.Multiple factors contribute to this,but one reason is that local policies since many years have promoted and achieved a relatively well-developed equity culture among private investors.As a result,there i
143、s now a financial ecosystem with many types of market participants supporting companies on their journey through the funding escalator.”“Public listings have slowed down after an all-time high in 2021.Number of Nordic IPOs and SPACs view online1051735H2H12017H2H12018H2H12019H2H12020H2H12021H12022Sou
144、rce:Dealroom.co.Data based on Nordic region as a whole and not solely on Top 1000 Scaleups.2030405MethodologyDesign team can help with graphics of the divider slides.Font:Open Sans Bold 30 ptDESIGN CONTENTPage/53 InceptionTimeUnicorns&beyondScalingBreak-outSizeScope of this ReportThe startup life-cy
145、cle.Startups are companies designed to grow fast:quite simply,any company with a VC-investable business model may be considered a startup.Sometimes startups become very big(e.g.1B+valuation),but before they do,most startups grow in phases(see graph on the right).Growing an idea into a business and s
146、caling it is hard:not all companies follow a straight-line,let alone a hockey-stick,growth,but an increasing number of successful startups are emerging in the Nordics and beyond.In this report,we look at different subsets of scaleups:-Unicorns:scaleups that reached US 1B valuation or exit-Future uni
147、corns:high-growth scaleups a valuation of 250M-1B and fresh funding(last round 5 years).-Rising stars:high-growth startups in their scaling phase.I would really reduce the level of methodology here to the bare minimum and put the rest at the end.Instead I would open with conclusions,and why this mat
148、ters-e.g.scaleups are the biggest growth drivers of job growth and value etc,theres a rich pipeline in the nordics including x number unicorns(explain unicorn),x future unicorns etc.And how and why we have ranked them,what should people use this for?Companies in this report.WHAT IS A STARTUP?By Deal
149、roomMORE ON SCALEUPSBy Nordic InnovationCompanies in this report.Companies in this report have been manually verified to meet Dealrooms definition of a(Nordic)startup:-Founded in the information age,i.e.in or after 1990.-VC-backable business model-Headquartered in the Nordics(Denmark,Iceland,Finland
150、,Norway and Sweden).Note:companies founded in the Nordics which later relocated abroad are not included in this report.Scaleups at Nordic ScalersBuilding on Dealrooms extensive coverage of Nordic startups,this report focuses on startups which may be considered as a scaleup according to Nordic Scaler
151、s.The following criteria therefore apply:-An annual revenue at minimum of 2M/-A team of 10+(globally)-Annual growth of at least 20%in the past 3 years.Methodology:how we identified scaleups Are all companies scaleups and are all Nordic Scaleups in this report?Startups are constantly evolving and the
152、 fast-paced environment of thriving entrepreneurial ecosystems like the Nordics make it extra challenging to keep up with fast-growing businesses and failures.All companies in this report are very likely to qualify as scaleups according to the definition laid out by Nordic Innovation and the Nordic
153、Scalers program.But where not all qualifying criterion could not be verified,it is assumed that at least 2 out of 3 signals make it highly likely that a given company is(about to)fulfill the definition either now or in the very near future.3 categories of Scaling companies.This report further builds
154、 the scaleup definition on three sub-categories:Unicorns are(former)startups that reached US 1B valuation or exit.Future unicorns are startups founded post-1990 with a valuation of 250M-1B.They have not exited(acquired or publicly traded)and have raised funding in the last 5 years.Rising stars are s
155、uccessful startups and scaleups in their scaling phase.Not all scaling companies are scaleups.The concept of scaling companies is therefore broader than Dealrooms definition of a scaleup,which is a former startup with 50 to 500 employees globally.As a result,not all companies in this report are scal
156、eups:some are successful startups in the early stage of their scaling journey,while others,including Unicorns,are already notorious household names.WHAT IS A UNICORN?DISCOVER FUTURE UNICORNSWHAT IS A STARTUP?By DealroomMORE ON SCALEUPSBy Nordic InnovationHow companies are sorted.Rankings seek to tak
157、e into account the scaling phase which companies have already achieved,and their prospect for future growth.Unicorns are always top-of-chart,followed by future unicorns.The ranking within these subcategories is determined by the companys valuation,current revenue and its size(employment).For Rising
158、Stars,recent growth markers such as year-on-year headcount growth and recent funding are prioritised,so as to give way to what are likely to be the fastest growing startups over the coming months.National rankings.National rankings only include companies that maintain their main centre of business(h
159、eadquarters)in their home countries.Companies which relocated their HQ abroad are included in the Nordic-wide ranking(forthcoming)but excluded from national rankings.Similarly,companies which have become subsidiaries as a result of an acquisition are usually excluded from national rankings.Companies
160、 bought out by Private Equity firms are still included.Methodology:Landscaping present growth and looking to the future.Dealroom Signal Dealroom Signal provides predictive intelligence throughout the entire startup lifecycle.Rather than creating a score about a startups general quality or performanc
161、e,Dealroom Signal is specifically aimed at surfacing the most promising upcoming funding opportunities.The algorithm is therefore calibrated to find companies showing strong traction.The algorithm includes over a dozen inputs,including Company growth,Hiring pace,Team composition,timing and much more
162、.MORE ON DEALROOM SIGNALMeasuring to stay at forefront of technological trends and ecosystemsConnecting startup communities through data transparency and connectionsDiscovering promising companies with predictive intelligence,to source deals Leveraging Dealroom to identify Nordic Scaleups.#3 Connect
163、ing startup communities with data transparency and fueling them with actionable information#1 Discovering emerging tech and companies with must-have predictive intelligence#2 Monitoring tech ecosystems with industry-leading insights and benchmarksPage/57 NAMEHQ COUNTRYHexagon ABSwedenGenmabDenmarkPo
164、lestarSwedenSpotifySwedenEmbracerSwedenNorthvoltSwedenSupercellFinlandWoltFinlandAutostoreNorwayKlarnaSwedenAscendis PharmaDenmarkRelex SolutionsFinlandPleoDenmarkDometic GroupSwedenSinchSwedenVeoneerSwedenBioarcticSwedenAivenFinlandOlink ProteomicsSwedenNetEnt(Net Entertainment)SwedenCintSwedenTrue
165、callerSwedenURAFinlandMojang StudiosSwedenIZettleSwedenNAMEHQ COUNTRYOatlySwedenItivitiSwedenAlvotechIcelandLunarDenmarkBavarian NordicDenmarkParadox InteractiveSwedenKrySwedenTinkSwedenBamboraSwedenCamurusSwedenCogniteNorwayFREYRNorwayEinrideSwedenKahoot!NorwayEpidemic SoundSwedenThe Qt CompanyFinl
166、andSaxo BankDenmarkNCAB GroupSwedenZealand PharmaDenmarkOdaNorwayPolariumSwedenMIPS ABSwedenByredoSwedenTrustlySwedenStorytelSwedenNAMEHQ COUNTRYGelatoNorwayDune AnalyticsNorwayRemarkableNorwayVoi TechnologySwedenInstaboxSwedenHMD GlobalFinlandBHG GroupSwedenBudbeeSwedenNykode TherapeuticsNorwayMent
167、imeterSwedenBooztSwedenREC SILICON ASANorwayEverfuelDenmarkBonesupportSwedenLink Mobility GroupNorwayKerecisIcelandPowerCell SwedenSwedenNeatNorwayIQM Quantum ComputersFinlandRevolutionRaceSwedenQuinyxSwedenICEYEFinlandSwappieFinlandVolta TrucksSwedenZaptecNorwayNAMEHQ COUNTRYTrustpilotDenmarkBactig
168、uardSwedenSyncronSwedenCalliditasSwedenDixaDenmarkOperaNorwayMorrowNorwayNicksSwedenJuniSwedenTibberNorwayPodimoDenmarkIO biotechDenmark21St.BioDenmarkTeamtailorSwedenNordhealthFinlandSpinnovaFinlandOtovoNorwayVeoDenmarkLeapworkDenmarkH2 Green SteelSwedenCloudberry Clean EnergyNorwayArdoqNorwayLabst
169、erDenmarkGreen Hydrogen SystemsDenmarkRovioFinlandTop 1000 Nordic Scaleups 2022Page/58 NAMEHQ COUNTRYMuna TherapeuticsDenmarkRe:newcellSwedenDoktor.seSwedenXenetaNorwayFunnelSwedenEstridSwedenRocker(formerly Bynk)SwedenOrbital SystemsSwedenPortalOneNorwayViaBillDenmarkTemplafyDenmarkArise ABSwedenHa
170、nsa BiopharmaSwedenBillogramSwedenADCendoDenmarkHemab TherapeuticsDenmarkLenus eHealthDenmarkENORMDenmarkSidekick HealthIcelandMoralisSwedenNMD PharmaDenmarkMinervaxDenmarkBlue Ocean RoboticsDenmarkX ShoreSwedenReltimeNorwayNAMEHQ COUNTRYZeroNorthDenmarkSNIPR BiomeDenmarkVic.aiNorwayPlanhatSwedenDyn
171、amic CodeSwedenTobii TechnologySwedenFaron PharmaceuticalsFinlandEnfuceFinlandHydrogenPro ASNorwayAnyfinSwedenDoktor24SwedenAnoccaSwedenCakeSwedenNoveldaNorwaySymphogenDenmarkCYTOKIDenmarkHedvigSwedenIRLAB Therapeutics ABSwedenSupermetricsFinlandElliptic LabsNorwayLysaSwedenMontaDenmarkMatsmart-Mota
172、tosSwedenBlue World TechnologiesDenmarkMaaS Global(Whim)FinlandNAMEHQ COUNTRYVarjoFinlandHoxHuntFinlandSmartCellaSwedenSedana Medical ABSwedenMarketer TechnologiesNorwayCinclus PharmaSwedenSuperblocksSwedenCleverDenmarkOptiSwedenDiracSwedenG-LootSwedenXspray Pharma ABSwedenSolTech EnergySwedenHeart
173、AerospaceSwedenFirstvetSwedenOnRobotDenmarkNormative.ioSwedeneSmart SystemsNorwayNilar InternationalSwedenInfinited Fiber CompanyFinlandLogPointDenmarkKebonyNorwaySynklinoDenmarkeBrandsFinlandMinestoSwedenNAMEHQ COUNTRYToo Good To GoDenmarkIrrasSwedenLjusgrdaSwedenOncoinventNorwayNorthmillSwedenCapt
174、uriDenmarkPalette Life SciencesSwedenMedTraceDenmarkMAJORITYSwedenContractbookDenmarkKeepItDenmarkMavenoidSwedenNatural CyclesSwedenFishBrainSwedenGreater ThanSwedenNIL TechnologyDenmarkDispelixFinlandYousicianFinlandAiforia|FimmicFinlandMaterial ExchangeSwedenAcastSwedenBeneqFinlandReformDenmarkCor
175、tiDenmarkCoripharmaIcelandTop 1000 Nordic Scaleups 2022Page/59 NAMEHQ COUNTRYMycorenaSwedenDetectifySwedenAttensiNorwayHappeoFinlandIDEX ASANorwayTactoTekFinlandUnite GlobalNorwayYabieSwedenDawn HealthDenmarkTesseractFinlandGuide to IcelandIcelandHappyOrNotFinlandResolution GamesSwedenFive DegreesIc
176、elandKognicSwedenBaseload CapitalSwedenGoalsSwedenBob WFinlandNorsk TitaniumNorwayJoint AcademySwedenInsurelySwedenGesynta Pharma ABSwedenKompasbankDenmarkCasiNorwayOrexoSwedenNAMEHQ COUNTRYNA KDSwedenStipe TherapeuticsDenmarkAgreenaDenmarkEpiendoIcelandQuuppaFinlandEvondos LtdFinlandAdformDenmarkEx
177、egerSwedenOrganoClick ABSwedenCandela Speed BoatSwedenLexlySwedenOmadaDenmarkElyptaSwedenCarlaSwedenFiksu Ruoka Oy(Foodello)FinlandTiseNorwaySFinlandPixotopeNorwayRpa SupervisorNorwayGood GoodIcelandRokokoDenmarkKognitySwedenReapplixDenmarkUpCloudFinlandCanatuFinlandNAMEHQ COUNTRYDevyserSwedenSAVRSw
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179、omySwedenLucinityIcelandRFRSH Entertainment(BLASTPremier)DenmarkSenzimeSwedenNAMEHQ COUNTRYLiquid WindSwedenWinningTempSwedenArK KapitalSwedenZevoyFinlandKavallSwedenMetacoreFinlandSunRoofSwedenAlginor ASANorwaySENSIBELNorwayIndex Pharmaceuticals ABSwedenSeaborg TechnologiesDenmarkInsurelloSwedenSul
180、apacFinlandOcclutechSwedenReadlySwedenZividNorwaySpinChip DiagnosticsNorwayNofence ASNorwayInovia ABSwedenAmuseSwedenMATE.bikeDenmarkBlueprint GeneticsFinlandGobi StoriesNorwayBeyonder ASNorwayCrayoNanoNorwayTop 1000 Nordic Scaleups 2022Page/60 NAMEHQ COUNTRYIntegrated Wind SolutionsNorwayEnodeNorwa
181、yZapper.fiFinlandHiberSwedenUnibioDenmarkUIzardDenmarkControlantIcelandCluedInDenmarkEfecte OyjFinlandNordic UnmannedNorwayVisiopharmDenmarkHypeHypeFinlandCharge AmpsSwedenDoctrinSwedenGreenMobilityDenmarkUnleashNorwayMinutSwedenOndosis AbSwedenSmart EyeSwedenStravitoSwedenZyfraFinlandUnikieFinlandS
182、uperbDenmarkHowspaceFinlandKodit.ioFinlandNAMEHQ COUNTRYEcoTreeDenmarkSweganSwedenAprila BankNorwayWorksomeDenmarkChromaWaySwedenVolumentalSwedenSTILRIDESwedenAlva LabsSwedenHaltianFinlandApicaSwedenCardlayDenmarkMemoryNorwayTracklibSwedenVisiba CareSwedenNextorySwedenBabyShopSwedenLassieSwedenValo
183、TherapeuticsFinlandIconovoSwedenHymeDenmarkNieDenmarkGRIDIcelandKlevuFinlandKarmaSwedenChallengermodeSwedenNAMEHQ COUNTRYTrialBeeSwedenOblique TherapeuticsSwedenFavrit(formerly known as Ordr.no)NorwayBrainLitSwedenBrainlitSwedenSVEA SolarSwedenSaga diagnosticsSwedenBillhopSwedenYoucruitSwedenChimi E
184、yewearSwedenFreskaFinlandZirooPayFinland360PlayerSwedenapotea.seSwedenWorldfavorSwedenSaga Robotics/ThorvaldNorwayPenneoDenmarkGaming CorpsSwedenPocketLawSwedenMiinto HoldingDenmarkClimateViewSwedenSilo.AIFinlandNanoformFinlandSolar FoodsFinlandWirepasFinlandNAMEHQ COUNTRYTicketCoNorwayVsslaSwedenMe
185、ndus(Formerly Immunicum AB)SwedenEco StorNorwayAtrogi ABSwedenNo IsolationNorwayNeonodeSwedenReVibe EnergySwedenMitigramSwedenMOANKSwedenAltrisSwedenSpondNorwayTreydSwedenLife XDenmarkTamigoDenmarkGlobe trackerDenmarkOssDsign ABSwedenHalodi RoboticsNorwayForkbeard TechnologiesNorwayN2 AppliedNorwayA
186、yfieNorwayBrellaFinlandCritical ForceFinlandCoala LifeSwedenAccedoSwedenTop 1000 Nordic Scaleups 2022Page/61 NAMEHQ COUNTRYBerGenBioNorwayRappta TherapeuticsFinlandCorPower OceanSwedenDreamsSwedenEpishineSwedenNightingale HealthFinlandHeimdall PowerNorwayHintsa PerformanceFinlandIlya Pharma ABSweden
187、GomSpaceDenmarkNordic harvestDenmarkCO2 Capsol ASNorwayEarth Science AnalyticsNorwayFundingpartnerNorwayooonoDenmarkPractioDenmarkEvaxion BiotechDenmarkCavaiNorway24 StorageSwedenHuddlyNorwayEnginZymeSwedenMindlerSwedenTraplight GamesFinlandNorsepower OyFinlandFlow NeuroscienceSwedenNAMEHQ COUNTRYOv
188、zonSwedenSensible 4FinlandAntecNorwaySitooSwedenHjemmelegeneNorwayQuantfolioNorwayAppjobsSwedenSigrid TherapeuticsSwedenModl.aiDenmarkZelluna ImmunotherapyNorwayFlowboxSwedenyaak.aiDenmarkNahmiiNorwaySwarmiaFinlandCoherenceSwedenRebtelSwedenService-FlowFinlandScout Gaming GroupSwedenCellcolabsSweden
189、BLUETOWNDenmarkBactolifeDenmarkJobilla OyFinlandSitooSwedenQred ABSwedenNaavaFinlandNAMEHQ COUNTRYBasemark OyFinlandCrediWireDenmarkPE AccountingSwedenNexstimFinlandShorelineNorwayCarbo CultureFinlandPlaysomeFinlandNomonoNorwayNostoFinlandWoodlyFinlandWanda SpaceNorwayFiRiNorwayAimnSwedenFundlerSwed
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191、een PharmaDenmarkLoopfrontNorwaySportwaySwedenAirthingsNorwayConvendumSwedenJanuarDenmarkHeatenNorwayAsgard TherapeuticsSwedenBlidzFinlandOceanDenmarkVideolyFinlandBetaDwarfDenmarkSoundtrack Your BrandSwedenTILT BiotherapeuticsFinlandBaffin Bay NetworksSwedenAvassaSwedenShape RoboticsDenmarkSproudSw
192、edenKara ConnectDenmarkEpulzeSwedenTop 1000 Nordic Scaleups 2022Page/62 NAMEHQ COUNTRYPrecise BiometricsSwedenJustNorwayNordavindNorwayMinuendoNorwayMendi.ioSwedenPreglifeSwedenFinditySwedenCaptarioSwedenCysBioDenmarkTonsserDenmarkZwipeNorwayReturn Entertainment OyFinlandCertiaFinlandTrusTraceSweden
193、Sna:fu RecordsSwedenAll EarsSwedenExabelNorwayNorlaseDenmarkMotosumoDenmarkMonsensoDenmarkAirtameDenmarkOrderYoyoDenmarkFavroSwedenHystarNorwaySendifySwedenNAMEHQ COUNTRYStillfrontSwedenZTL Payment SolutionNorwayC-GreenSwedenPenniDenmarkTargovaxNorwaySynoste OyFinlandAcoraiSwedenDT EquipmentIcelandN
194、eural DSPFinlandLeadoo MTFinlandMelt&Marble(formerly Biopetrolia)SwedenProperDenmarkWoodio OyFinlandVevNorwayThe Humble CoSwedenHPNowDenmarkHopsworks(formerly Logical Clocks)SwedenZaverSwedenELIQSwedenHemSwedenRocsoleFinlandGoMoreDenmarkFuncomNorwayGreenbird Integration TechnologyNorwayTwistshakeSwe
195、denNAMEHQ COUNTRYBesedoSwedenHuuvaFinlandEyrNorway1939 GamesIcelandRealfictionDenmarkReforce InternationalSwedenUpsalesSwedenTattoodoDenmarkSurgical Science Sweden ABSwedenDuggaSwedenOcctooSwedenComplyCloudDenmarkTameDenmarkFolioNorwayDynasty StudiosDenmarkNoiceFinlandCenateNorwayTalenthubDenmarkDec
196、isionsNorwayKundoSwedenAuthenteqIcelandLifesumSwedenMicroShade A/S.DenmarkShareboxNorwayLogmoreFinlandNAMEHQ COUNTRYLiva HealthcareDenmarkAppFollowFinlandGreenelySwedenPeafowl PlasmonicsSwedenHypoteketSwedenSeezonaSwedenBioLaminaSwedenBoost AINorwayDiffia ASNorwayCHOOOSENorwayCogniboticsSwedenKaiku
197、Health(NetMedi Oy)FinlandCommodiCarbonDenmarkSuperplus GamesFinlandCapiTainerSwedenKuva SpaceFinlandDigiFarmNorwayAibidiaFinlandXenergicSwedenGradientechSwedenBlue Ocean TechnologyNorwayGoavaSwedenElsa ScienceSwedenAptilo NetworksSwedenModvionSwedenTop 1000 Nordic Scaleups 2022Page/63 NAMEHQ COUNTRY
198、BowerSwedenInvoierSwedenIndIcelandFemale InvestDenmarkFutureOnNorwayHouse of MathNorwayDefigoNorwayWeldDenmarkPixierayFinlandFlowriteFinlandANYDAYDenmarkChromologicsDenmarkGubbeFinlandOGOshipFinlandDreamdata.ioDenmarkHolm SecuritySwedenSellforteFinlandTouchtechSwedenSubaioDenmarkLearningbankDenmarkV
199、ainuFinlandFORCIOTFinlandDonkey RepublicDenmarkHappyhelper.dkDenmarkCombinosticsFinlandNAMEHQ COUNTRYRSP systemsDenmarkNeuro Event Labs OyFinlandUnite LivingNorwayHejaSwedenArkyn StudiosDenmarkNorbanSwedenOptoScaleNorwayAurelia TurbinesFinlandClavisterSwedenOneflowSwedenAlgorithmiqFinlandIFarmFinlan
200、dAstridSwedenAdnavemSwedenColive.seSwedenMoneriumIcelandRetyreNorwayFast Travel GamesSwedenCambriFinlandROISwedenHYON ASNorwayServeboltNorwayFyndiqSwedenxNomadSwedenFuzuFinlandNAMEHQ COUNTRYDiet Doctor Sweden ABSwedenInnomarNorwayAlex TherapeuticsSwedenRuokaboksiFinlandFocalSpecFinlandSensocureNorwa
201、yPresailNorwayHooked FoodsSwedenLuau gamesSwedenHailey HRSwedenSvennNorwayBYGRNorwayCodemillSwedenDuckyNorwayVionlabsSwedenRedkikFinlandSesamySwedenStriseNorwayCodesceneSwedenEnto LabsDenmarkAnyoneSwedenCloudBackendSwedenVeriFinlandStarmonySwedenTurbotic ABSwedenNAMEHQ COUNTRYDigital Workforce Nordi
202、c OyFinlandQlucoreSwedenBlockbondsDenmarkCreate it REALDenmarkIAGON ASNorwaylilbitNorwayParakeySwedenBook SalonFinlandTebritoSwedenHelppyFinlandElFysFinlandParticle3DDenmarkMorningscoreDenmarkCanopyLABDenmarkCrosserSwedenDPOrganizerSwedenSofi FiltrationFinlandSkenarioLabsFinlandFunziFinlandHediaDenm
203、arkLegal DeskDenmarkNgenicSwedenLayeriseDenmarkDohopIcelandVaxa Impact NutritionIcelandTop 1000 Nordic Scaleups 2022Page/64 NAMEHQ COUNTRYButterDenmarkScapinSwedenMedixine OyFinlandFIELDSENSEDenmarkInjeqFinlandPortchainDenmarkInkassogramSwedenindyRIOTNorwayWoshappSwedenHexiconSwedenNitro GamesFinlan
204、dSensativeSwedenCollectiveCrunch OyFinlandAlbertSwedenwinnsNorwayCombify ABSwedenSpoorNorwayNorkon Computing SystemsNorwayPodMeSwedenKivraSwedenSingaFinlandVlurNorwayWorkfellow.aiFinlandNhostSwedenLift RelationsDenmarkNAMEHQ COUNTRYInex OneSwedenLiminaSwedenStunlock StudiosSwedenLastObjectDenmarkPea
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206、enVilloidNorwaySprint BioscienceSwedenGleechiSwedenNAMEHQ COUNTRYTracabSwedenPejSwedenConsigliNorwayCachargeSwedenFuture OrderingSwedenElonroadSwedenEupryDenmarkQuartrSwedenFaunaPhotonicsDenmarkPlaypilot ABSwedenIrisity(Mindmancer)SwedenBumbee LabsSwedenSolidsportSwedenReelDenmarkPlatypusDenmarkAnke
207、ri SolutionsIcelandFreightifyDenmarkFurhat RoboticsSwedenSolid CloudsIcelandLaufforksIcelandFunRockSwedenKITSwedenCSwedenLogcastSwedenHealth IntegratorSwedenNAMEHQ COUNTRYWay TrafikkskoleNorwaySoilsteamNorwayPmindSwedenCubitNorwayTechBuddySwedenRadinnSwedenNowonomics AB publ.SwedenFrilans FinansSwed
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209、e/65 NAMEHQ COUNTRYLifvsSwedenNybyNorwayTag SensorsNorwayTetra Pharm TechnologiesDenmarkPLAIOIcelandNordic SeafarmSwedenFeats.DenmarkDigipSwedenBetolarFinlandOrigin by OceanFinlandFlow Robotics A/SDenmarkIPRallyFinlandOctarine BioDenmarkSpeechlyFinlandSkyqraftSwedenGBuilderFinlandDevelop DiverseDenm
210、arkReceiptHeroFinlandServiceformFinlandInuheatSwedenCerenionFinlandStrawbees(Quirkbot)SwedenRegilySwedenMode Sensors ASNorwayQuadSATDenmarkNAMEHQ COUNTRYHeltti OyFinlandHEI SchoolsFFinlandBuddy HealthcareFinlandKuboDenmarkShopboxDenmarkFieldlySwedenWavefoilNorwayEl-WatchNorwayPromimicSwedenME&MINE A
211、SNorwayLootLockerSwedenNordsenseDenmarkModulizeNorwaySpacentFinlandFSportsSwedenWarpinSwedenVolta GreentechSwedenLingioSwedenActivity StreamIcelandTrebleIcelandGamerPayDenmarkresponsiblyDenmarkAurora Propulsion TechnologiesFinlandFixablyFinlandNAMEHQ COUNTRYCerveSwedenAcuminorSwedenTaktikalIcelandAp
212、ohemSwedenRevonteFinland4Life Solutions(formerly SolarSack)DenmarkDoguNorwayGrace HealthSwedenUSwedenPlaypulseNorwayD LaboratorySwedenBitrefillSwedenIris.aiNorwayAlexisSwedenBintel ABSwedenLace LaboratorySwedenAbzuDenmarkMaven WirelessSwedenPreciselySwedenLeaseCloudSwedenGimiSwedenNurseBuddyFinlandC
213、oalescent Mobile RoboticsDenmark&RepeatSwedenFlatteredSwedenNAMEHQ COUNTRYFerroamp Elektronik ABSweden1928 DiagnosticsSwedenCalqulateFinlandPrime PenguinSwedenOnce Upon PublishingSwedenWordDiveFinlandSimris AlgSwedenAudiodoSwedenMjukFinlandNoodlSwedenUnited Robots i Sverige ABSwedenCampanyonNorwayLo
214、upedeckFinlandTADA Group ABSwedenMVision AIFinlandSopimustietoFinlandHiveonlineDenmarkCHAOSFinlandTreamerFinlandHandiscoverSwedenCustimyDenmarkGoobitSwedenMiradoreFinlandMatch2OneSwedenThe ManyDenmarkTop 1000 Nordic Scaleups 2022Page/66 NAMEHQ COUNTRYLearning To SleepSwedenVemblaSwedenSvenska Aeroge
215、l ABSwedenAlgoDxSwedenBolt.Works OyFinlandUtopia AnalyticsFinlandHyberSwedenQuizrrSwedenQuicksave InteractiveFinlandStrike PharmaSwedenMovebybikeSwedenFenix BegravningSwedenStabeloSwedenSavelendSwedenSniphSwedenMin DoktorSwedenPapticFinlandIngridSwedenEasySizeDenmarkShowellFinlandOveoDenmarkTreonFin
216、landContractZenFinlandEletiveSwedenKatam TechnologiesSwedenNAMEHQ COUNTRYIAMIPSwedenLocalize DirectSwedenWhywasteSwedenFilmgrailNorwayMEVA energySwedenR8 TECHNOLOGIESNorwayUnicontrolDenmarkEmpower.ecoNorwayWorkaround SwedenSwedenDeedsterSwedenGold Town GamesSwedenAcarixDenmarkLearnsterSwedenCatendaN
217、orwayTikkTalkNorwayBricknodeSwedenMyrkur SoftwareIcelandCorebonSwedenFJONGNorwayConsectorSwedenAirinumSwedenChromoGenicsSwedenAatos.appFinlandWoomioDenmarkCavea.ioDenmarkNAMEHQ COUNTRYAppspotrSwedenJustlearnDenmarkOmnioDenmarkFloatSwedenP.F.C.SwedenEVA GlobalFinlandPayAnalyticsIcelandLegacyDenmarkVo
218、yadoSwedenZimplerSwedenBriteSwedenFormulate ABSwedenHorderNorwayKeliberFinlandAddressya ABSwedenArbonautFinlandNordic BioscienceDenmarkEPassi Payments OyFinlandMaritime RoboticsNorwayBlack BruinFinlandDesert ControlNorwayTrackwellIcelandArctic NutritionNorwayEPSE OY(Ltd.)FinlandKontigo CareSwedenNAM
219、EHQ COUNTRYWasteheroDenmarkRe-MatchDenmarkVindenSwedenTeraloopFinlandNBXNorwayBookboost ABSwedenWehypeSwedenCaliberDenmarkBrain+DenmarkSSH CommunicationsFinlandVicore Pharma ABSwedenSignifikant Svenska ABSwedenSievoFinlandNox medicalIcelandNukuteFinlandMyDefenceDenmarkPlanktonicNorwayBioinvent internationalSwedenAdigoNorwayLyftaFinlandAddiFabDenmarkMidsummerSwedenSeveralninesSwedenYodiwoSwedenOtelloNorwayTop 1000 Nordic Scaleups 2022