FIRST INVESTMENT BY CAP A'S BUTTERFLY VENTURE FUND III IN PROXIMI.IO
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.
-- About Butterfly Ventures --
Butterfly Ventures is an early stage focused startup development and venture fund management company managing Butterfly Venture Fund III and Northern Startup Funds. The currently active Butterfly Venture Fund III focuses on hardware and deep tech companies whose business is built around unique, often protected and hard to reproduce technology. One of the focus areas of the fund is research based innovation and co-operation with universities. The fund is particularly interested in seed stage companies with high growth potential. While most of the target companies will be from Finland, the fund will also invest elsewhere in the Nordics and Baltics. Butterfly Ventures has offices in Oulu and Helsinki. Stockholm and USA-based Capital A Partners (CAP A) co-manage the fund alongside the existing Butterfly Ventures’ founding partners.