Surgify Medical Oy, a Finnish startup company developing a novel neurosurgical burr, has raised a €1.0M financing round from a group of international investors. The investors joining the startup’s second round of financing include a Finnish venture capital firm Butterfly Ventures, as well as Cascara Ventures from Belgium, Merkatura AB (Andreas Bunge) from Sweden and FRIIH GmBH (Dr. Michael Friebe) from Germany. The funding will be used to finalize the neurosurgical burr and to apply for a sales approval in Europe. READ MORE >>
Helsinki, Finland, August 23rd 2017 – Popit, a Finnish startup focusing on medical technology solutions, has raised over €1.2M ($1.4M) in seed financing. The capital was raised from Butterfly Ventures with participation from six private investors and Tekes, the Finnish Funding Agency for Innovation. READ MORE >>
August 9, 2017, STOCKHOLM, SWEDEN – TVM, a Stockholm-based digital marketing technology provider for the hospitality industry, has secured its first outside pre-seed funding from both existing and new investors. The new funding will provide TVM with expansion capital to grow its installation base beyond its current 30+ hospitality ventures in Sweden and Turkey. Butterfly Ventures, CAP A’s Nordic-based seed fund, participated in the funding alongside several individual global entrepreneurs and investors.
“According to several major research firms, almost 70% of consumers have seen digital video displays in the last month and customers don’t just glance … they engage,” explains CAP A’s and Butterfly Venture’s Stockholm-based partner, Tanya Marvin-Horowitz. The TVM platform provides directed POS marketing through its in-venue display systems, incorporating both hardware and software solutions into its systems. The platform increases sales and brand awareness for the venues and for the brands they carry. “The European market alone of approximately 500,000+ restaurant and bar venues provides a solid potential customer base that then multiplies when coupled with the U.S. market opportunity which is predicted to reach $27B by 2022,” added Marvin-Horowitz.
“Our first product democratizes digital marketing, enabling the smallest venue owners to control their own digital marketing strategy, as we have successfully demonstrated to our customers across Europe,” says TVM founder and CEO, Michael Demir. “Our customers are realizing increased brand awareness resulting in increased sales of up to 28%. Butterfly saw the potential of TVM, including the technical expertise of the team, and particularly the opportunity to expand globally, thus making them ideal partners!”, he added.
- About TVM -
TVM’s mission is to revolutionalize the worldwide restaurant, bar and hotel industries by empowering owners to serve their customers better by providing exiting and unique in-venue digital marketing experiences resulting in an increase of in-venue sales. For more information, go to: http://tvm.media
Contact for TVM: Michael Demir, email@example.com
Venture Capitalist Inbar Haham, Formerly of Magma Venture Partners and WIX, Joins CAP A as Partner
NEW YORK, NY, July 11, 2017 – Capital A Partners “CAP A”, a fund focused on funding early stage technology businesses in the Nordics and the USA, announced today the addition of its new New York City based partner, Inbar Haham.
Inbar joins CAP A as Partner effective immediately, four years after Managing Partners David Mendez and Tanya Marvin-Horowitz founded the fund. She joins the fund from Magma Venture Partners where she served in a Business Development role, responsible for assisting Magma and its portfolio companies in establishing presence in the United States. Magma is one of Israel's leading venture capital firms whose investments include Waze, Magisto, Appsflyer and Argus.
“We are excited to welcome Inbar to our team,” said Tanya Marvin-Horowitz, Managing Partner and Co-Founder of CAP A. “Inbar’s experience in working with global companies, as well as her core values and passion for technology and innovation position her well to help lead CAP A’s efforts in New York, as well as to provide access to startups in Israel.”
As partner, Inbar will lead investments in companies in Israel, as well as the Northeast, leveraging her expertise in helping these companies, as well as CAP A’s Nordic portfolio companies expand in the United States market. During her time at Magma, Inbar established a significant network of business development partners, service providers and other critical resources on behalf of Magma portfolio companies in Israel.
“Inbar’s leadership in the New York City venture capital ecosystem will be a critical component to enhance CAP A’s presence in the region, but also to bring her global mindset and set of skills to CAP A’s international and domestic portfolios,” said David Mendez, Managing Partner and Co-Founder of CAP A.
May 10, 2017, Stockholm, Sweden. Mantex, one of CAP A's portfolio companies, has gone public on Nasdaq First North. The biomass scanning technology company has been working with global leaders such as International Paper and Andritz to deploy their systems throughout the Pulp & Paper industry worldwide. See the official press releases >>
Nasdaq First North Press Release:
Mantex Press Release:
APRIL 25, 2017, Helsinki, Finland. Finland-based Butterfly Ventures, a partner fund with Stockholm/USA-based Capital A Partners (CAP A), made its first investment from their latest fund, Butterfly Venture Fund III, in Proximi.io, a Helsinki-based mobile technology company. Proximi.io is an easy-to-use positioning platform that acts as glue between the physical world and mobile devices, connecting existing mobile positioning hardware and software into one developer-friendly product. The investment is syndicated with previous Finnish and Danish angel investors.
“Proximi.io operates in one of the fastest growing market segments mobile positioning.Indoor positioning alone is estimated to grow from 4B to 23B USD during the next five years.” explains Matti Kanninen, Managing Partner at Butterfly Ventures. “Proximi.io is a well packaged, easy to use product and is capable of offering first class customer support. Additionally, customer traction as well as other early growth metrics look promising. It’s also refreshing to see a female entrepreneur in the startup scene.” he adds.
Since it's launch in January 2017, Butterfly Venture Fund III aims to invest in 10 new portfolio companies annually for the next four years. Butterfly Ventures invests a bit earlier than most venture funds, as it focuses on seed or even early seed stage. The fund is focused on deep tech hardware and software companies.
“We’re aiming high. We’re going to be the go to platform for enterprises and mobile developers to implement mobile applications. Butterfly Ventures shares our vision. We also saw their expertise in the intersection of hardware and software, their strong portfolio, and their international reach as invaluable assets to us. Since our offices are located next to each other at the Maria 0-1 startup hub, the cooperation will certainly be very efficient.” says CEO and Co-founder of Proximi.io, Annina Koskiola.
Enquiries and additional information:
Butterfly Venture Fund III is the 3rd fund for Butterfly Ventures
January 12, 2017, Stockholm, Sweden - Capital A Partners “CAP A” has joined forces with existing Finnish venture capital investor, Butterfly Ventures, to launch Butterfly Venture Fund III, a €24M early stage development and seed fund. Based in Finland, the fund will invest in Nordic-based startups focusing on hardware, software and digital technologies in the IoT, AI, VR and AR sectors.
Initial investors in the fund include Tekes Venture Capital Ltd, Elo Mutual Pension Insurance Company, Fennia Mutual Insurance Company, Tradeka-invest Ltd, AI- Partners Ltd, LocalTapiola Pohjoinen Mutual Insurance Company and Gerako Ltd. The fund is launching with more than half of its target size and is open for additional investors to reach the €24M target.
”We haven’t invested in such an early stage venture fund before, but the focus area of the new Butterfly Ventures’ fund along with the versatility of the team and the success of their earlier investments convinced us. We have researched several funds and this was suitable for Fennia’s investment portfolio,” says Eero Eriksson, Deputy Managing Director of Fennia.
CAP A and Butterfly Ventures are already co-investors in Finland-based maritime IoT startup, Conexbird, from their previous respective funds. “We are excited to be working with such a successful and experienced Butterfly team as we embark on our first Nordic-based fund. CAP A has made investments in the Nordics since 2013; however, our partnership with Butterfly establishes a more substantial presence here and provides more resources to help build our portfolio companies into successful global enterprises,” states Tanya Marvin-Horowitz, CAP A’s Stockholm- based partner.
To date, Butterfly Ventures has invested in 40 portfolio companies and based on data from the Finnish Venture Capital Association (FVCA) it has roughly 15-20% market share of all early stage first time investment rounds in Finland. CAP A, based between Stockholm and the United States, has 18 portfolio companies; 4 in Sweden, 2 in Finland, 1 in Iceland and 11 in the United States. The new fund in the Nordics makes CAP A one of the first U.S. based VC funds to have a presence both in the United States and the Nordic Region.
About CAP A
CAP A is an early stage venture capital fund based between Charleston, SC, New York, NY and Stockholm, Sweden. The fund invests primarily in early stage B2B technology-based businesses in the United States and across the Nordics. The new partnership with Butterfly Ventures will provide CAP A with additional deal flow for Nordic companies seeking to expand into the United States market.
About Butterfly Ventures
Butterfly Ventures is an early stage focused startup development and venture fund management company based in Oulu, Finland, with presence in Helsinki, Stockholm and the United States. Partners in Finland include Matti Kanninen, Ville Heikkinen and Juho Risku, with Tanya Marvin-Horowitz in Stockholm, and David Mendez in the United States. Web: http://butterfly.vc.
Contact: Matti Kanninen, Managing Partner, Butterfly Ventures Phone: +358 (40) 5455877
December 19, 2016 – Capital A Partners "CAP A" is proud to announce that Svenska Aerogel AB, one of its first portfolio companies, has been approved for IPO on NASDAQ FIRST NORTH, scheduled for Tuesday, December 20, 2016. CAP A invested in Svenska Aerogel through a Swedish investment partner, The ReCap Group.
For the full story and information on the IPO, please read the release at the Svenska Aerogel website located here >>
For more information about Svenska Aerogel AB, go to: http://www.aerogel.se
-About The ReCap Group-
The ReCap Group provides alternative financing solutions on a risk-sharing basis for clean energy projects, specifically in relation to renewable energy, energy efficiency and waste management. http://www.recap.se.
Contact for ReCap: Marco Breggren, firstname.lastname@example.org.
December 5, 2016 – 100 Milligrams Holdings AB("Pacemaker"), a Stockholm-based music technology business has closed a $1MM USD seed round of investment led by Spintop Ventures and U.S.-based venture capital firms Plus Eight Equity Fund LP and Capital A Partners "CAP A".
Pacemaker is the Instagram of Music on top of music streaming, currently integrated with Spotify and soon with more services. Pacemaker’s groundbreaking AI empowered creation make it possible for anyone to create mixtapes of professional quality.
The mixtapes are also shareable and editable thanks to Pacemaker’s proprietary format called the Recipe: (1) MIx = Recipe + Tracks; (2) Recipe = Mix - Tracks. I.e. a Recipe holds the metadata for how to put a number of tracks together in order to create a mixtape; The Recipe contains everything in a mixtape with the tracks subtracted. Holding no copyrighted information, Recipes can be shared freely and generate streams for tracks on music streaming services making sure that everyone is paid.
Pacemaker won the 2015 Apple Design Award, Best of App Store 2014 and 2015, and has over 3.5 million app downloads.
Recent press coverage:
For more information about Pacemaker, go to: http://www.pacemaker.net.
CAP A's portfolio company, Dynepic, is the proud winner of the $100K investment award at the first annual Charleston Angel Conference, beating out dozens of other promising tech startups!
Pegroco leads the $1.2M growth round to expand globally
May, 2016, Stockholm, Sweden. Mantex develops, manufactures and sells measuring equipment based on its proprietary patented technology that uses X-rays to analyse the quality of organic material flows in real time. The analysis enables feed-forward based optimized control of production processes, which in turn enables large productivity gains. The company is based in Stockholm, Sweden; it was founded in 2007 and has 13 employees.
The company is currently focusing on two process industry applications, pulp and paper and bioenergy. Mantex’s products have been pilot-tested with leading international companies within these industries for a number of years. By measuring the quality of incoming biomaterial, such as wood chips, Mantex’s products have proven capable of enabling considerable cost savings. Pegroco’s and CAP A's assessment is that Mantex is now ripe for expansion.
”Mantex is now ready to enter a global commercialization phase after many years of research and development. We now have many years of accumulated experience from full-scale installations in real process operations. The timing is right for Pegroco and their co-investors, including CAP A, to become Mantex’s partners through the expansion phase”, says Erik Odén, CEO of Mantex.
”We have been following Mantex since mid-2015 and gradually become more and more convinced that here is a business with a large potential. We think that the company can become a world-leading supplier to industries where productivity and efficiency gains are important competitive success factors”, says Thomas Brue, CEO of Pegroco.
About Pegroco Invest
Pegroco Invest is an investment company that invests in smaller and medium sized unlisted companies, predominantly in Sweden. Formed by former executives from Volvo, Electrolux and Framfab, Pegroco are active owners and focus on investments where they can contribute to building value in the company. More information can be found at http://www.pegrocoinvest.com.