Starduck Studios was able to close 400 000 euro ($570 000 US) in financing just before midsummer. The financing has come from 8 different investors. Among the announced investors were Pitkäjärvi Capital, Hannu Jyrkkä, JanDing, Jussi Lahdenniemi and Gowda Capital. We had a chat with Henri Liljeroos, CEO and Co-Founder and he mentioned that many of the investors are from outside the capital region of Finland. A refreshing sign that the investing market is maturing.
Starduck Studios is a Tampere, Finland based startup that is developing a service for parents to share images and information in a secure manner about their children called Intoloop Kids. The service is now available in Finnish, English and Japanese. See our previous profiling of the service.
Liljeroos also stated that the company will use the financing to achieve two things; enter new markets and further develop the service. The company recently opened their webservice in Japan and they’ve already received nice amount of publicity there. According to Liljeroos, ArcticStartup was able to help them attract interest in Japan and since then they’ve been able to push the product there even faster. Other potential markets for entry are France and USA.
The 400k€ will push the company onwards for about a year, depending on how fast they’re able to make it into the Finnish government’s Tekes programs, such as NIY (abbreviation for Young Innovative Companies in Finnish). In such a program, any accepted startup is able to leverage quite a bit of public funding for each private money invested and used in the company.