Butterfly Ventures announces significant H1 2014 activity, investment into Kyynel and 5 others


Holidays are clearly over: our email is bursting with new investment announcements and expansion roll-out press releases. The latest news among this lot comes from Oulu, where the rather secretive telecommunication startup Kyynel has rounded a major investment from Butterfly Ventures, who also shares with us some statistics from the first half of 2014.

“The investment we made is so far the single largest capital investment made by Butterfly”, said Juho Risku of Butterfly Ventures.

Other participants of the funding round include Inventure, as well as private investors; the share of venture investors in the funding round amounts to €2 million, with more soft money from Tekes added on.

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Taxi app Taxify Meets Resistance in Finland Launch

Earlier this year we gave a second look at the Estonian startup Taxify, which was doing some serious changes into the Estonian way of ordering a taxi. At the time of the article, Taxify’s statistical growth had been impressive to say the least, amassing 5,600 new users in a span of three weeks, including 100 new drivers. This prompted them to launch the service in Latvia and plans to expand across all the Baltic countries were under no secrecy.

However, back then I dared not ask Taxify founder Markus Villig whether we’d see the application in Finland, where the taxi culture has for long dwelled under a nasty stigma of monopoly, high cost and taxi queue cock-fights, because I feared he’d say "we'll see" accompanied by a polite laughter.

Maybe I should’ve asked after all: Taxify has now, in fact, arrived in Finland, and it hasn't wasted time creating a fuss about it.

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Startup Wiseguys Release Fall '14 Batch

Startup Wiseguys changed it up this past Spring, focusing on Business Tech instead of doing the standard wide open accelerator. BusinessTech seemed to have been a good focus, and the Wiseguys have embezzled ten teams together for their Fall '14 batch who have temporarily relocated from South Africa, Argentina, India, Serbia, Greece, Belarus, Ukraine, Russia, with the remaining two already from Estonia.

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PAKO - Prepare to crash

A couple of months ago we found ourselves at the PG Connects conference in Helsinki, where got a first hand glimpse at who are the newcomers in the local mobile games scene. In the showcase room, there were several new, cool games we summed up in this article, but now, months later, only PAKO remains in our phones (geared with decent high-scores if I might add).

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Spotify gets into the t-shirt business with new update

Late last night Stockholm-based Spotify updated its desktop client to integrate BandPage, allowing musicians to sell merch right within the Spotify player. It's clearly all part of steps to help monetize Spotify's 40 million active users for the company itself, as well as provide musicians for an additional revenue stream.

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#CPHFTW goes live - becomes more than a meetup

Editor's note: This post is by Karsten Deppert of Oresund Startups. Read the original post and comments here.

Today #cphftw evolved. It not just got a more functional website, www.cphftw.dk, but also important basic details sorted out, as well as further commitments at creating a world-class startup ecosystem.

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Infogr.am’s team gets a new Finnish COO

Riga-based Infogr.am, an online data visualisation service that is often seen as the company that finally put Latvia on the global startup map, has added a new member to its team. Mikko Jarvenpaa is now Infogr.am’s Chief Operating Officer responsible for company’s daily operations, sales and business development, and will be based out of Infogr.am's San Francisco office.

Mikko is Finnish and has been serving as Product Marketing Manager for AdWords at Google, worked with tech startups in both Silicon Valley and Europe and recently been the Chief Marketing Geek for HackFwd. He has experience founding several companies of his own and is besides that also well acquainted with Infogr.am, as he has been company’s advisor for round two years prior to taking up the COO role.

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U.S.-based Planview acquires Sweden's Projectplace


It's been since the dot-com boom that Stockholm's Projectplace was called a startup, but it's interesting to note the company has been acquired by Austin, Texas based Planview, a cloud-based portfolio and resource management company. Projectplace provides a collaboration tool used by enterprise companies like ABB, Sony, Volvo, and others, counting close to 1,000,000 users in 150,000 projects.

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Finnish startup Pint Please Launches in the UK and Announces Investment from Butterfly Ventures

Pint Please, the social app that allows users to discover new beers, track their locations, give ratings; get/hand out recommendations on what beers to enjoy and where, was warmly welcomed by the Finnish amateur beer enthusiast community, and with their recent expansion, we hope the same reception will await the app in the UK.

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Holvi to open in 19 European countries, staff acquisitions in three

It’s been roughly three months and half since Holvi had the Financial Supervisory Authority ratify its EU-wide permission to expand across Europe; once the approval passed, Holvi was quick to announce their next country of destination, which was also the source of their latest investment, Austria.

As of yesterday, Austria will be joined by 18 other countries.

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Lithuania claims August 13 as International #StartupDay


Lithuanians are getting more and more serious about spreading the word about their startup activities. The next thing they have come up with is declaring today, August 13, International Startup Day. On this day, Startup Lithuania encourages every startup enthusiast around the globe to celebrate the new holiday online.

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Nonstop Games acquired by King for up to €67 Million


Nonstop Games has taken a few big bets in their past, but it seems it's all worked out for them with the news this morning that King has acquired the company for what others are writing as €70 million, but I only calculate as $90 million (€67.3 million)

According to King's earnings call, King acquired 100% of Nonstop's equity for $6 million upfront and "up to $84 million of contingent consideration based upon criteria linked to revenues from games developed," meaning that Nonstop now has a new #1 priority of extracting cash from their games.

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Seriously Games' Best Fiends a new hot entertainment property out of Helsinki


With a cryptic company name and a very solid founding team, many have wondered what's going on within Seriously Games. I recently sat down at the company's Kaisaniemi, Helsinki headquarters and got a peek into what the company was working on, their Best Fiends (link should be live today) franchise, announced today.

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Three Day bootcamp 'Digital Media Startup Academy' coming to TechHub Riga


On the weekend of August 22-24 TechHub Riga will host 10 most promising teams of startup and digital media enthusiasts from Northern Europe and Poland for an intensive 3-day bootcamp - The Digital Media Startup Academy . The organising team promises a vibrant, fast-paced, extremely practical event with digital industry professional presentations, 1-on-1 advice and tailored mentorship combined with product development and socialising with similarly thinking founders and investors.

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CyberLightning picks up €3.2 million from Inventure, Tekes and EU backed funds

Big news for authentic Finnish big data and Internet of Things sector: CyberLightning, the Oulu-based IoT development startup, has announced the closing of a major funding round of €3.2 million. We recently covered the startup here.

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Catching up with Norwegian travel app Stay's 3.0 release

Thanks to means of transportation becoming more widely affordable, travelling is turning from the once-in-a-year-weekend-holiday-to-Paris to become more of a hobby people can choose to do more often.

And wherever there is an increasingly popular activity emerging, applications that make that activity easier and more interesting are never far behind.

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Jolla gets on the ground in Asia with a few partnerships

We were loving Jolla in the press about a year ago for being the mobile phone comeback story that Finland needed. But after launching their phone last November, they've been quiet in Europe, with the only recent news that Jolla has partnered with mobile operator Elisa in Estonia.

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Sweden's Saltside sees massive traction with classifieds in emerging markets

Classified sites are extremely local, making it that much more remarkable that Gothenburg-based Saltside Techologies has been on a roll with creating a listing sites in Bangladesh, Ghana, and Sri Lanka. The company has been growing at 300% per year, and have beaten out local and international competitors in auto, property, and general classifieds. Saltside is led by CEO Nils Hammar, who one of the first employees at Skype who also founded networking site Kindo which sold to MyHeritage in 2008. Saltside is backed by Investment AB Kinnevik, a Swedish investment house with some expertise in emerging markets, and has already raised $25 million in equity funding.

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Why Iceland has the Cleanest Energy and How You Can Be a Part of It

As Finnish residents, we've heard rumours of Finland’s massive consumption of energy per person, but while our climate conditions might be harsh, it would be outrageous exaggeration to say we have it worse than Iceland does (at least down here in Helsinki).That in mind, it might not surprise you that Iceland consumes the most electricity per capita in the world.

In comparison, according to data collected in 2012, Finland used approximately 55 000 kWh/year/capita, whereas Iceland used a threefold of that amount, roughly 165 000 kWh/year/capita!

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Norway's Kuddle does safe social networking for kids under 13

I never really liked the idea of young kids using Facebook: I feel like there's plenty of other things children could/should be doing then stupefying their minds with superficial ego-fishing. And as if the attention-driven environment wasn't enough of a reason to keep the young'uns out of social media, there's plenty of discussion going on about cyberbullying, the online version of old-school bullying, which has driven many youngsters face to face with serious emotional distress, and in some cases, even suicide.

Worried parents can now cease to fear for the online safety of their children, all thanks to Kuddle, the Norwegian picture sharing app especially designed for kids.

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