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Monday, September 25, 2023

Danish startup soars to new heights with Swedish backing

Hailing from the heart of Copenhagen, Zuuvi has secured a substantial financial injection of €1.6 million (DKK 12.5 million), sourced from a combination of its existing investors and the Swedish financial powerhouse Ark Kapital, with a portion of the funding taking the form of a high-risk loan from Ark Kapital. The startup offers a design platform and automation tools to streamline the creation of digital advertising content for businesses. Zuuvi plans to utilize the funding to fuel its international expansion efforts, enter new markets in Europe, and further develop its AI models, enhancing its platform’s capabilities for its existing customer base.

“The need for digital creatives is increasing. We are firmly established in the Danish market, where we continue to experience growth. With the investment and the loan from Ark Kapital, we will scale to new markets in Europe and deliver an even better platform to our current customers“ says Alexander Augustesen, CEO of Zuuvi. “In 2022, we reached our goal of doubling ongoing subscription revenue, and it was great to get over two billion impressions of ads made with our tool, which also gives us unique insight that can train our AI models.“

“Zuuvi has created a platform in high demand, and has shown a good ability to deliver on its own plans. The company has shown persistent predictable growth, and we are happy to finance the company’s next chapter as Zuuvi enters new markets in Europe“ says Nikolaj Sørstrup Jørgensen, country manager at Ark Kapital.

Click to read more funding news.

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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