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Tuesday, November 29, 2022

A brief look at Female Founded Startups in Nordics

According to Unconventional Ventures‘s latest Startup Funding Report, there is only little increase in investing in female founded startups. By looking at the numbers of startups & scaleups analyzed according to founders’ gender, 83.5% are all men.

Women entrepreneurs in the Nordic region cannot find many investors. According to research, the decision-makers usually invest in companies that have male founders or at least one male founder. Women as entrepreneurs are generally supported by women. Looking at the figures of the latest research, investment in companies with female founders in the Nordic region has increased slightly compared to last year’s. However, it is debatable whether this is a promising increase.

To point out their development, let’s take a look at the companies with successful founders, according to Crunchbase. Here are the tops in their country by their trending score.

Finland Startups with Female Founders

1. Videoly

Videoly is an automated product video discovery and management tool for e-commerce, founded by Nora Huovila and Sergey Andryukhin in 2013.

Videoly is the easiest way for online retailers to get hand-picked and automatically embedded product videos to online stores.

For retailers, Videoly sources existing video content such as reviews, presentations, unboxing, how-tos, from YouTube and directly from brands. User-generated content is also covered. Videos are embedded directly to online stores’ product pages. Before being linked to a product page, all videos are validated by a human viewer to ensure they’re suitable.

For brands, Videoly ensures brands’ own videos are efficiently distributed to online retailers’ product pages. It lets brands take control of how and where their videos are shown and gets brand videos to exactly where they should be – next to the add-to-cart button on a reseller’s online store.

The two founders are tied together by common values which are the foundation of Videoly’s culture.

2. AISpotter

Oulu-based AISpotter enables professionals to turn massive amounts of recorded and streamed video into usable and shareable information that helps them make better decisions, delight fans, and even predict the future.

The technology pinpoints the most important parts of any recorded and even multiple simultaneous live-streamed videos, from any camera, with any setup, and makes production-ready highlights available instantly.

AISpotter was founded by Anri Kivimäki and Sami Huttunen in 2018 when a university vision AI project was first used to help sports teams quickly get the best information from game videos. Now the company helps production people, 24/7 live streams, coaches, and even security firms across Europe to process video into usable knowledge and insights.

3. Enfuce

The Espoo-based company is innovating the payment industry since 2016. It all started in 2016, when the five co-founders, including Monika Liikamaa and Denise Johansson, with a rich professional background in financial services brainstormed ways to rebuild payments from the ground up together. They decided to build a flexible, scalable, and secure cloud-based payment processing solution that would be so fast to implement that it would enable any company to start issuing cards in no time.

Today, Enfuce has close to 100 experts based in the Nordics. On top of the initial scope of consumer and business card issuing, Enfuce also offers Open Banking and carbon footprint measurement service that promotes sustainability – a core value shared by all Enfucers.

Sweden Startups with Female Founders

1. Vividye AB

Goterburg-based company is founded by Johanna Nissén Karlsson and Gustav Larsson-Utas in 2020.

Two chemists at Chalmers University of Technology first came up with a concept that was meant to provide a solution to the colour-related inefficiencies the textile industry faces when trying to reuse and recycle garments.

The reversible printing technology that resulted from four years of development is now the cornerstone of Vividye, and is now ready to be implemented in a variety of circular business models. Vividye is now featured in Mission Innovation’s Net-Zero Compatible Initiative list as one of the top 1000 companies with the highest potential to reduce emissions in the near future.

2. Petgood

Stockholm-based company Petgood was founded by Pernilla Westergren and Thomas Dalebring on a mission to create a more sustainable and transparent pet world, where dogs can enjoy nutritious food and treats without burdening our planet.

They offer complete and balanced diets for both adult dogs and puppies, as well as dental sticks and treats. All products are developed with experts with dogs’ health as their top priority, using high-quality and sustainable protein from the insect black soldier fly, and natural and carefully selected ingredients.

In other words – only the good stuff, nothing else. The bigger they grow, the better they can make a positive impact. The love for dogs and the love for the planet will always be their guiding principles. That is a promise. Meaning over money. Love over greed. They hope this inspires you to join. So that together they can make a real difference.

3. Cardo Health

Founded by Masha Feigelman and Tobias Strålin, Cardo Health is a digital health company with a mission to improve the health and wellbeing of millions of people in emerging markets.

They invest in and scale the best early stage digital health start-up in each of their markets. Bringing funding and a proven business concept, they leverage technology and extensive operational know-how to create local, leading digital health champions. Their co-owned companies ViBe Saúde in Brazil and Kena Health in South Africa already provide high-quality, affordable care to one million registered users. Headquartered in Stockholm, Cardo Health is on an ambitious growth journey to become the leading digital health company in emerging markets.

The healthcare sector in emerging markets faces real challenges. With a high number of uninsured citizens and a dependency on public healthcare, there is an enormous, untapped potential to transform the health sector in these markets. It is characterized by limited accessibility, long waiting times and overall low quality. The digital health sector in emerging markets is growing twice as fast as the global market, and is expected to rise from 16 to 33 billion dollars by 2024. Meanwhile, the Covid-19 pandemic has accelerated regulatory approvals as well as the consumption of digital health services, growing the opportunity further.

With a high dependency on public healthcare and unaffordable private insurances, many citizens in emerging markets do not have access to proper medical care. Digital solutions can help improve access to affordable and high-quality care, resulting in better patient experiences and reduced societal costs.

Their goal is to continue to grow through their co-owned companies, offering high-quality, affordable care in an additional nine countries with a total population of one billion people by the end of 2023.

Norway Startups with Female Founders

1. Braive

Founded by Hermine Bonde Jahren and Henrik Haaland Jahren in Stockholm, Braive develops and delivers online-based Cognitive Behavioural Therapy (CBT) treatment programs for healthcare, businesses and individuals.

Mental health challenges are increasing worldwide. The number of psychologists isn’t. That’s why Braive is needed. And they are more than just speaking to a psychologist- they offer a digital mental health platform that brings together a range of important treatment components under one umbrella.

The company can help people cope with stress, sleeping problems, anxiety, loneliness and other common challenges. However, they don’t just help people when life has become too challenging. They also want to help you work proactively with your mental health and become mentally stronger. Empowering people and giving them long-lasting tools to tackle life’s challenges makes them more efficient than traditional therapy, without ever compromising treatment results.

2. Energi.AI

Energi.AI, founded by Christel Mathiesen and Anders H. Lier, is the next generation intelligent platform to enable AI climate solutions for businesses to act quickly in the race for zero.

Energi.AI is created by passionate tech entrepreneurs from the Nordics – the Silicon Valley of the energy sector. They are stoked to be located in one of the most advanced energy markets in the world – that makes things even more interesting! They have a track record of scaling tech companies, energy companies, solar PV business, worked the World´s leading AI experts and built the World´s first AI CFO – they got this!

3. BoldBooks AB

BoldBooks AS is a Oslo-based company in the book industry. Developer of a digital platform designed to let independent authors publish their books without bearing the hassle of going through a publisher. The company’s platform creates contact between writers and providers of authoring services and provides services needed to develop, produce, market and sell books, enabling authors to acuqire script rights and profit from book sales.

At its website, you will find all the services you need to publish a book. Get in touch with quality-assured professionals such as editors, linguists, cover designers etc, you do not need a publisher.

BoldBooks assists with guidance throughout the process and we order printing for you. Take control of your own brand, keep income and rights to the book yourself. BoldBooks is the indie author’s partner. Owners: Kristin Over-Rein, DocStream AS and over 450 private investors.

Denmark Startups with Female Founders

1. Agreena

The company is founded by Ida Boesen, Julie Koch Fahler and Simon Haldrup in 

Developer of an online commodity marketplace intended to democratize trade flows for the agricultural industry. The company’s online trading platform allows grain producers, livestock farmers, and traders to create their listings and start trading grains, raw materials, and other agricultural commodities, thereby digitalizing the process of agro trading and providing better access, trading conditions, and wider reach to farmers.

Agreena has the solutions to drive environmental and financial sustainability in agriculture. Although this industry is not top of mind for many people, it is one of the biggest industries in the world. Succeeding in our mission could result in billions of Euros saved and megatons of CO2e removed.

2. Cogo

The Cogo story begins in 2020, with the rise of shared mobility and electric scooters hitting the streets across Europe, but the actual idea was born a few years earlier.

​Cogo was born in Copenhagen, one of the most bike-friendly cities in the world.  The enormous cityscape of well-paved and protected bike lanes made it the perfect place to combine shared bikes and electric cars with the new megatrend of e-scooters and mopeds. This strong challenger of easy and simple alternative mobility to car ownership, quickly became cluttered and fragmented with hundreds of mobility operators across Europe.

With a passion for technology and innovation, the co-founders, which are Bibi Blomqvist, Robin Eriksson and Martin Røssell,  eagerly jumped headfirst into providing users a seamless platform that gathers all shared mobility operators in one app, making it easier to choose shared mobility over getting into your car. ​

The name Cogo is a reminder that sharing is caring, and a reference to where they began. It’s a gentle reminder that only by working together can they improve the cities we all live in. They gather shared rides, making it simple and easy to move around. Helping their users “just go”. They are Cogo.

​They believe that creating sustainable cities is one of the most important issues that they have to solve in our lifetime, and Cogo helps unleash the full potential of shared mobility to support this transition.

Cogo gathers all shared rides in one app, as long as they are human or electric-powered. They include shared electric scooters, bikes, cars and mopeds from more than 200 mobility operators in 500 cities worldwide. The app is available in several languages and can be downloaded and used for free on iPhone and Android.

3. Methyl Detect

Aalbord-based MethylDetect serves the needs of researchers by providing fast, sensitive and quantitative DNA methylation assays that can be used on widely available laboratory equipment.

Founded by Lise Lotte Hansen and Tomasz K Wojdacz, MethylDetect’s goal is to make the MS-HRM technology easy accessible both for new-comers and experienced researchers in the field of epigenetics.They offer kits for DNA methylation detection that are ready-to-use and compatible with standard laboratory equipment

They are a team of university researchers and entrepreneurs located in Denmark. In January 2017, they incorporated MethylDetect ApS. The company provides Methylation Sensitive High Resolution Melting (MS-HRM) technology for researchers in the field of epigenetics.

Female Founded Startups backed by Iceland’s VC Crowberry Capital

1. Rocky Road

Reykjavik-based developer of social games intended for people to play and socialize in a game world. The founders include Vala Halldorsdottir, Thor Fridriksson and Sveinn Davidsson.

Rocky Road‘s game allows people to interact with one another, meet new people and create long-lasting relationships while being simple and having a shallow learning curve, providing gamers a platform to play and socialize in a casual open world mobile game built on real map data.

2. Katla

US-based Katla is founded by Icelandic businesswoman Aslaug Magnusdottir. The company sees beauty through nature to offer fashion for conscious consumers. Inspired by the raw nature of Iceland, they start with timeless style and create with luxurious, environmentally-friendly fabrics manufactured in accordance with zero waste principles.

While exploring new design concepts, they blend beauty and sustainable ideas to introduce a new modern aesthetic for consumers to love and standard for the entire industry to uphold. Katla’s effortless silhouettes are where style meets sustainability, pioneered by practices made for the future that respect the land, its wildlife and its people.

3. ELSA Science

Stockholm-based Elsa is a platform for patient driven research for better drugs, health and prevention. The company was founded in 2017 by Sofia Svanteson, Sebastian Evans, Pelle Almquist, Lovisa Afzelius and the Riskminder Foundation.

Elsa lets patients become their own personal researchers by providing them with a better understanding around how lifestyle factors may affect their disease activity measurements for chronic disease.

They are currently focusing on giving support to patients with rheumatoid arthritis (RA). From a scientific perspective, Elsa gives access to data on rheumatic disease through the Riskminder foundation and scientific studies at Karolinska Institutet. Through this data the patients will be able to see, among other things, how the prognosis of their disease is affected by medication adherence and lifestyle factors.

Click here to read more about startups. 

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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