Enfuce upper image 

## Building payment, open banking and sustainability services for banks, fintechs, financial operators, and merchants 

By combining industry expertise, innovative technology, and compliance, they deliver long-term and scalable solutions fast and securely. Enfuce's aim is to change the financial industry for good by building sustainable and relevant solutions that have a positive impact. 

Enfuce's services include next level card issuing and payment processing services, the only PSD2 and open banking services you will ever need, and a purchase-based carbon footprint tracker.

Investors 

> Enfuce and their team of financial industry heavy lifters convinced us with their future-proof approach that can serve a wide range of businesses in the payments industry, and a platform that can be scaled globally

Ilkka Kivimäki 
Partner at Maki.vc

## Nordic fintech powerhouse 

Everything started in 2016 with the desire to do things faster, safer, and better. The co-founder Monika Liikamaa asked the future Enfuce co-founders: “If we were to rebuild payments from the ground up, how would we do it?” It quickly became apparent that a flexible cloud-based solution was the way to go as this approach offered unrivalled global scalability and fast implementation.

Years later, they are a Nordic forerunner in payment processing & card issuing services, with a cutting-edge payment platform serving close to 10 million end users globally.

Enfuce quote image 

> Shoppers will soon be able to work out the true carbon footprint of their purchases thanks to an app from one of the most digitally savvy nations in the world

Bloomberg


Making: The future of payments
Round size: €45M
Invested in: 2019

Enfuce

Happeo upper image 

## Building a social intrenet 

Enterprise and fast-growing companies are struggling to connect a diverse workforce over locations and generations. Departmental silos, the absence of effective knowledge sharing, and an overflow of tools used to communicate and collaborate often results in low employee productivity and engagement. 

Happeo is solving these challenges by bringing together the software that organizations use daily into one unified platform, allowing employees not only to connect and collaborate in new ways, but also to work more efficiently. With 280%
YoY growth rate, today already more than 300,000 employees are working with the Happeo digital workplace. In 2019, Gartner named Happeo a Cool Vendor. That same year, The Next Web recognized Happeo as one of Europe's fastest-growing scale-ups.

> Traditional employee intranets are dead, because they host static and often outdated information in isolation, offering no value to the employee

Perttu Ojansuu
Co-Founder and CEO of Happeo.

## Big organizations tend to be terrible at internal communications

Company information is spread across several applications, and as the applications usually aren’t connected to one another, employees struggle to locate the right information at the right time. Happeo compiles different enterprise applications into one, easy-to-use UX, and enables integration of other corporate softwares such as CRM and HR systems.

And when ecosystems wage a furious war over market share and do everything in their power to create a strategic lock-down, the end user needs are often neglected. Happeo's vision is total integration, where employees can work with any solution regardless of political ecosystem tensions.

Quote image 

> We felt that intranets were typically made only from the point of view of the administrators

Perttu Ojansuu 
CEO at Happeo 

Making: Social intranet
Round size: €26M
Invested in: 2018

Happeo 

IQM hero pikkukuva

## Building commercial quantum computers for the wellbeing of humankind

IQM is the European leader in superconducting quantum computers. They deliver on-premises quantum computers for research laboratories and supercomputing centers, and adopt a unique application-specific co-design approach for industrial customers.

IQM's co-design strategy aims to deliver quantum advantage to its customers by using novel chip architecture, application-specific processors, and ultrafast quantum operations.

> Europe could lead the quantum computing revolution

Jan Goetz
Co-founder of IQM 

IQM image 2 

## Looking to deliver the first commercial machine in 2021 

Founded by a highly ambitious team of world-leading scientists who have built several quantum labs and research centers globally over the past two decades.

The team’s pioneering work started with breakthroughs in qubit reset, readout, and thermal management towards large-scale quantum processors. Since then, the work has progressed to unique hardware advantages and novel concepts around digital-analog quantum computing. 

Now they have the largest industrial hardware team of world-class quantum experts in Europe with over 640+ scientific publications and over 27000 citations.


> I always say that quantum computing is like electricity — you can imagine what advantages electricity has brought us, and electricity will always be in use

Mikko Möttönen
Co-founder of IQM 

Making: On-premises quantum computers
Round size: €128M
Invested in: 2022

Spinnova upper image 

## Spinnova is developing the most sustainable fibre 

Spinnova is on a mission to create a more sustainable textile industry. One where cellulose-based materials are a cost-efficient, environmentally friendly and preferred option for brands. The current manufacturing processes rely mostly on non-renewable resources such as oil, fertilizers and dye, while consuming globally 93 billion cubic meters of water annually. That’s nearly the amount of water in the Dead Sea.

Spinnova’s sustainable fibre, created out of wood and waste without the use of harmful chemicals and with 99% less water than the cotton value chain, will be available for global textile brands in 2022.  Fibre produced this way creates minimal CO2 emissions, is quickly biodegradable and contains no microplastics.

> We work hard to scale up an innovation that global, critical challenges like climate change desperately need

Janne Poranen 
CEO at Spinnova

Spinnova middle picture

## It all started with a spiderweb 

In 2009, former fluid dynamics scientist Juha Salmela attended a lecture at Oxford University, given by a leading spider researcher about the structural similarities between the spider web and nanocellulose. During the lecture he got inspired: Would it be possible to replicate the spider’s nozzle technique and apply it to cellulose? As freaky as it may sound, it was. 

With team of +40 their journey is on the verge of commercialization. With their committed brand partners, Spinnova has introduced the first demo products. Now, they're finalizing product properties and production processes, while working on further prototypes with partners who share our passion for sustainability.


> This tech can make fabric from old clothing, agricultural waste–and even trees

Fast Company 

Spinnova quote picture 

Making: The most sustainable fibre
Round size: €11M 
Invested in: 2018

Spinnova

Strise.ai introductiion 


## Making the world’s information useful across the enterprise

Strise is pioneering how companies will utilize data in their work processes. Strise takes the world's information and analyzes it with human accuracy. They filter out noise and see hidden connections at bigger scale, and let you leave data-silos and work processes limited by the software behind.

Strise welcomes an era of AI-powered organizations that empower people with new knowledge and business critical information. 

> It is not about replacing people but creating a new way of working where users and new data insights go hand in hand to solve critical problems.

Marit Rødevand
CEO at Strise.ai

## Personalized AI platform enables organizations across industries to accelerate business processes such as AML & credit risk

Do your due diligence, KYC, and AML processes on a single platform. Utilize event-triggered due diligence and perpetual monitoring of companies and make automated audit reports to save time and increase quality in compliance processes.

Strise.ai's core technology uses artificial intelligence and a unique data model that connects business-intelligence, network-data, and insights from 200k+ sources. This means unparalleled company profiling and access to the world's information shown in a user-friendly way. Each individual's experience is personalized through machine learning and based on the actions of users within the platform - this is to focus on what's most important as users move through their daily workflow.

Strise.ai quote image

> When we started Strise we understood that as a Big Data/AI-company we needed to be extremely fast. Speed and execution guided the design of our core values.

Marit Rødevand
CEO at Strise.ai 

Making: KYC Intelligence System
Round size: $10.8M 
Invested in: 2020

Strise.ai 

ultimate.ai upper image

## Building the world's leading customer service automation platform  

Ultimate.ai’s goal is to build the world’s best customer service agent. By merging strong expertise in the fields of artificial intelligence, product, and customer service, Ultimate.ai aims to create a whole new way for how customers and brands communicate.

It automates your repetitive customer service cases and guides your agents with answer recommendations through complex tasks. Scale your team and improve CX with 24/7 multilingual customer support.

Investors

> Our mantra for every single day is “the best product is the one that wins the market

Sarah Al-Hussaini
COO at ultimate.ai

## There’s a huge pull for automation of bot technology in the market

Ultimate.ai approaches AI as not a solution to customer service itself, but rather a tool for making agents smarter and freeing them up for more demanding tasks. In search of solutions to develop customer service for clients in Finland, the team ran into a serious obstacle — how to handle the relatively complicated Finnish language. There weren’t any technologies available that could’ve done the job, so the founders developed their entire deep learning stack in-house.

Since having to deal with the complicated Finnish language, ultimate.ai’s technology is fully language-agnostic, meaning a language can be added at native fluency in just a few hours. With this key capability, the company is already driving expansion across Europe, with a heavy focus on the Nordics, Germany, Austria, Switzerland and the UK.

Reetu Kainulainen 

> A technology that works in Finnish has been easy to scale to other languages. It has been and still is something that sets us apart from the others

Reetu Kainulainen 
CEO at ultimate.ai

Making: Automated customer service
Round Size: €20M
Invested in: 2018

Ultimate.ai

Series A companies 1/2

Aisti logo

## The novel acoustic tile championing sustainability

A sought-after feature of any indoor space is the acoustics—in other words how peaceful and quiet it can really be. And this makes acoustic tiles a key element of modern construction. However, the solutions widely used today are highly carbon intensive. To add to that the end products (made of insulating materials like glass wool or rock wool) are non-recyclable and can cause irritability. All too much of a price to pay for silence. Now Aisti is stepping in to change that with their novel acoustic tile—a natural, healthy and environmentally friendly solution for modern construction needs.

Aisti combines wood fiber with a unique manufacturing process to create low density fibreboards without synthetic material. Not only is the result, Aisti® Teno Acoustic tile, all natural and 100% circular but also cost-effective to produce. Simply put, it’s the future of acoustics.

> Our goal is to rise alongside the world's largest acoustic tile manufacturers by offering sustainable products for the needs of today’s construction

Mikko Paananen
Founder and CEO of Aisti


## Making new standards of construction material

Construction is one of the most environmentally taxing industries—especially in terms of resourcing, manufacturing and disposing materials. It’s in urgent need of both alternative materials and processes that can bring sustainable solutions without compromising the quality. Which are also optimized for industrial scale production at a competitive price point. It just so happens that this challenge is what drives Aisti’s veteran founding team. So they are combining their expertise on bio-based material, fiber-based processes and property design to create novel solutions that are making new standards for construction material.

> Aisti’s technology is ready and scalable quickly. There is a huge potential in carbon-negative and cost-competitive new building materials

Pirkka Palomäki
Partner at Maki.vc

Aisti team

Making: All natural & 100% circular acoustic tiles
Round size: €1.6M
Invested in: 2022

Aisti

Altum Technologies upper picture

## Building cleantech solutions to reduce CO2 emissions in process industries

Altum Technologies is the first and only company to use focused power ultrasound to remove fouling from industrial equipment with no production stoppages and no equipment disassembly.

Having a specialized solution for several industries is a must, therefore Altum Technologies experts and technology have taken into account the industrial needs of pulp and paper, mining and mineral processing, oil and gas, chemical production, and more.

> By investing in Altum Technologies, we wanted to back an industrial revolution in which there is no need to stop production because of fouling and this generates a lot of value. 

Ilkka Kivimäki
Partner at Maki.vc

## It’s hard to believe that the world is throwing away entire fouled pipelines

Fouled industrial pipelines are a total nightmare. As the pressure rises, energy consumption skyrockets, and the whole production needs to be stopped in order to clean up the clogged pipe as fast as possible. For heat exchangers alone, fouling costs amount to $123 billion in the world’s ten largest economies.

Altum COO Bo Malmberg and CEO Matias Tainela ran a company that imported different sonic and ultrasonic cleantech solutions to clean fouling in industrial equipment. Their customers often asked, “Do you have a product that can clean our fouled equipment with ultrasound without the need to stop production?”. They looked all over the world a solution that could do this — but found nothing. All the ultrasound technologies out there were just too weak. Now, they are building this solution. 

> The currently used cleaning methods are mechanical and chemical washes. But both require the machinery to be stopped, which means they are out of productive use for hours or even days.

Matias Tainela 
CEO at Altum Technologies 

Altum quote image 

Making: Fouling removal with power ultrasound
Invested in: 2018
Round size: €5M 

Altum Technologies

BLAST upper image 

## Building a global esports media network delivering world class entertainment experiences

BLAST Premier is an innovative global tournament series of live Counter-Strike tournaments, with the best teams in the world competing in a fast and exhilarating format. 

Whether it be intimate broadcast studio shows, arena events, digital platforms, or industry-leading multi-platform content, the BLAST team creates the most exciting, exhilarating, and euphoric moments in esports.

> It's about diversifying our incredible broadcasts, our digital product, to enable ourselves to be in further games

Robbie Douek
CEO at BLAST Premier 

## The most entertaining esports event in the world

In 2019, esports revenues were above $1B, while the entire games industry has become a $150B business. BLAST Premier works in the center of this growing industry. 

In 2020 Blast Premier went completely digital with standout results. During 2020, [Blast produced](https://www.sportspromedia.com/analysis/blast-premier-robbie-douek-esports-2021-tournaments-investment-sponsorship) more than 800 hours of esports action – more than 6x than in 2019 – and generated over 146 million views across its owned channels, with tournaments broadcast in 105 territories.

Quote image BLAST 

> We’re an entertainment business by heart, so everything we do has to lead with this sort of mantra: We’re really trying to entertain the world, entertain the population, do it slightly differently, and make it really sing and dance 

Robbie Douek
CEO at BLAST Premier 

Making: Global esports entertainment
Round size: €12.5M
Invested in: 2018

BLAST

CarbonCloud hero image

## Building a platform to discover your climate footprint

CarbonCloud makes climate labelling feasible on a global scale and on full portfolio level for the food producers. Without a platform for calculating and sharing of data, the industry cannot work effectively on their climate footprints.

CarbonCloud's web service replaces expensive expert consultants while delivering a superior service. The digital platform lets food producers easily calculate their climate footprint and share their results with business partners and the public. Users become their own experts and identify improvement potentials in their value chains.

> We love investing in teams making products that help make sustainable choices a habit. CarbonCloud’s vision for how to make a change in the food industry is truly unique, putting keys into brands’ and consumers’ hands in ways we&#39;ve never seen before

Pauliina Martikainen 
Investment Director at Maki.vc

Carbon Cloud / Nude picture

## The science behind food and climate change is hard, but the decisions that have to be made to fight it are easy 

Founded in 2016 as a spinout from food and climate research at Chalmers University of Technology. Founded and run by leading researchers on food and climate change who dedicate their lives to provide you with accurate and comprehensible information about the climate impact from your choices. Regardless of whether you are a chef, a restaurant guest, a food producer, or an end consumer. We help you understand and help you learn that making climate-smart choices is easy.

The team behind CarbonCloud combines decades of cutting edge climate impact research with long business executive and entrepreneurship experience. The services are developed and provided using state-of-the-art cloud computing technologies.

> Food and agriculture are globally responsible for almost 25% of the climate problem and end-consumers increasingly realize that they can make a difference by purchasing food products with transparent climate labels

David Bryngelsson
CEO at CarbonCloud

CarbonCloud quote image 

Making: Climate footprint calculation platform
Round size: €7.5M
Invested in: 2020 

CarbonCloud

K Line Europe logo

## Creating the first 4D-powered shape-shifting aligner

While deeptech solutions are revamping many facets of healthcare, dentistry has stayed immune to many of their economic and ecological advances. K Line Europe, a dental technology company from Düsseldorf, is now providing an eco-friendly alternative to the standard clear aligners that’s both time and money saving for orthodontic patients across 25 markets.

K Line Europe’s flagship product, ClearX, is the first dental aligner to leverage IoT. Its remote monitoring system allows patients to check their treatment process and modify the aligners’ fit without needing a new pair of aligners each time – or a time-consuming visit to the dentist’s office.

> The Clear aligner market has been surging in the last couple of years. However, the market was undermined by a weak infrastructure of services. K Line Europe has changed this equation by investing in innovative materials, automation, and robotics.

Dr. Sherif Kandil
CEO of K Line Europe


K Line Europe middle image

## The state-of-the-art 4D technology bringing a major shift in orthodontics

ClearX-4D technology enables more resource efficient production. Since every aligner produced has shape memory for 3 different shapes, the company is able to reduce its plastic consumption by 60% on average.

IoT and remote solutions have been more scarce in orthodontics compared to consumer health tech at large. While shifting this industry paradigm, ClearX- 4D technology also aims to uplift the orthodontic patient experience. With 7 patents under its belt, K Line Europe aims to become the biggest private label provider of clear aligners in the world.

Making: The first 4D-powered shape-shifting aligner
Round size: €5.3M
Invested in: 2022

K Line Europe

Mainframe hero image 2 

## Building the world's first cloud-native MMO

Mainframe Industries is a pan-Nordic game venture with studios in Helsinki and Reykjavik that brings together a 13 strong founding team of veteran game developers. The team members have been part of building iconic games such as EVE Online, Alan Wake, and The Walking Dead: No Man’s Land.

Mainframe is working on a vibrant world with new ways to engage and connect with friends. In cloud gaming, a game is computed in internet-connected datacenters, and then the results are sent via video to a user’s screen. That enables gaming on various machines, be it a low-end laptop, a desktop gaming PC, a mobile device, or a console display such as a TV.

> Today, we bring all our hard won lessons (both good and bad) to our cause of reimagining an MMO for this decade

Thor Gunnarsson
CEO at Mainframe

Mainframe image 

## The next generation in gaming is rising from the Nordics

Mainframe is a 20-strong team of veteran game developers set out to create the first cloud-native social sandbox MMO — a game that you can play anywhere, using the device of your choice. They’re betting on the rise of 5G to accelerate this paradigm shift to cloud gaming — much like King’s success was largely due to the success of Facebook games, Rovio’s growth was propelled by the launch of the iPhone, and Supercell was able to build the perfect game for the iPad.

And Mainframe’s not the only one in the race — giants like Amazon, Google, and Microsoft already have plans for the cloud-native future of gaming in place. There are signs everywhere that cloud-native games will revolutionize the games industry in the same way as Netflix and Spotify changed how we consume television or music.

Quote image mainframe 

> Cloud native games are the future — and we at Maki.vc are beyond excited to work with the team we believe will be leading the charge

Ilkka Kivimäki
Partner at Maki.vc

Making: Cloud-native MMO
Round size: €20M
Invested in: 2019

Mainframe Industries

Upper Image Neuro Event Labs

## Building the standard for epilepsy diagnostics

Neuro Event Labs is revolutionizing epilepsy treatment with their AI-powered diagnostics product Nelli™, which brings notable cost savings and improved efficiency to a field of medicine affecting over 65 million people worldwide. Currently, 30% of diagnosed epilepsy cases are later disproved by new methods, and one-third of epilepsy patients continue to have seizures regardless of treatment. 

Neuro Event Labs has developed an AI-powered epilepsy diagnostic, which is based on video and audio recordings that can be collected from either the patient’s home or in hospital. Nelli™ is CE-marked and has been launched for regular clinical use at 20 leading European hospitals, and used in collaboration with hospitals in the US.  


>  With healthcare systems around the world currently under stress, it’s all the more important that we develop more solutions for at-home care and diagnosis  

Kaapo Annala
CEO at Neuro Event Labs.  

## Quantifying epileptic seizures with computer vision and AI

Neuro Event Labs Co-founder Jukka Peltola, MD and professor in neurology, was frustrated in the current epilepsy treatment methods: epilepsy diagnosis were dependent on hospital visits and only 5% of patients were subjected to Video EEG examinations. 

He believed that the best way to learn about each patient’s condition is to be present when the seizure occurs, but up until now, there hasn’t been a technology that allows patients to be monitored at home and produces enough reliable data without causing discomfort or disrupting everyday activities. Now, by collecting high-quality data of the seizures from a patient’s home or the hospital, Neuro Event Labs can more efficiently detect and identify the type of seizure the patient suffers from and thus, offer more personalized treatment. 


Quote image

>  Near future, our technology will be applied to other neurological disorders such as Parkinson’s, Sleep Apnea and Cerebral Palsy

Kaapo Annala
CEO at Neuro Event Labs


Making: Seizure detection 
Round size: €3.4M
Invested in: 2018

Neuro Event Labs 

Ogoship yläkuva

## Building a global network of 3PL warehouses for online retail.

OGOship is building a global 3PL network of fulfillment hubs for online retail. Using OGOship's network, small and medium-sized online retailers can sell globally but also minimize their shipping distance and delivery times. With their worldwide fulfillment network and smart local-like shipments,  businesses can ship globally and sustainably.

OGOship customers can store their goods in several warehouse locations, 
sell products in multiple online stores and use one inventory, and manage everything with one Order Management System.

> We want to always ship from the closest possible location. Less time used, less costs and for sure less CO2

Timo Toivonen
CEO at OGOship


OGOship

## The demand for more sustainable solutions is rising in the field of e-commerce

OGOship has been growing steadily (with 46% YoY Revenue) in Finland and during 2019 made the leap into the Swedish market, as well as opened their warehouse in Venlo, The Netherlands.

OGOship team has extensive experience from serving online retailers and they have found a business model that benefits all stakeholders: warehouse owners, online retailers, and most importantly, the end customers who want their deliveries quickly and with minimum CO2 impact. 

> The need for OGOship’s solution is currently more pressing than ever: many traditional retailers are forced to move to online and existing online retailers have to scale up their operations quickly.

Paavo Räisänen 
Investment Director at Maki.vc

Ogoship quote picture 

Making: 3rd party logistic service for online retail
Round size: €4M
Invested in: 2020

Zevoy second image

## One seamless solution for expense management

Companies spend a vast amount of time and money on financial services. With Zevoy, they can simplify their expense management and focus on the business. Zevoy’s technology offers a smarter and faster all-in-one software. It combines Zevoy’s business card with a receipt scanning app and administration portal, and automates all company expenses in real-time - increasing employee satisfaction along the way.
This team is now paving the way for Nordic fintech, and by the end of 2021, Zevoy will expand its operations to multiple European markets and become the leading expense management solution provider over time.

> We want entrepreneurs to spend time on their business and our goal is to make expense management less of a hurdle.

Christoffer Rosqvist
Founder & CEO of Zevoy

## It’s time to simplify company spending

Zevoy’s expense management solution was built during the pandemic in less than 12 months from founding date. From the beginning their mission was clear - to do what other expense management companies have done but more efficiently. Maintaining the momentum, Zevoy also obtained approvals by the Finnish Financial Supervisory Authority (FIN-FSA), Visa Principal Membership and launched an all-in-one Visa business card running on Zevoy ecosystem.

Zevoy quote image

> We're challenging the European market, which has huge potential

Ron Lindqvist
Co-founder of Zevoy 

Making: Seamless expense management
Round size: €15M
Invested in: 2022

Enfuce

Making:

The future of payments

Round size: €45M

Invested in: 2019

Happeo

Making:

Social intranet

Round size: €26M

Invested in: 2018

IQM

Making:

On-premises quantum computers

Round size: €128M

Invested in: 2022

Spinnova

Making:

The most sustainable fibre

Round size: €11M

Invested in: 2018

Strise.ai

Making:

KYC Intelligence System

Round size: $10.8M

Invested in: 2020

Ultimate.ai

Making:

Automated customer service

Round Size: €20M

Invested in: 2018

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