Alliance Venture has made a new portfolio investment in MemoScale, a NTNU spin-off and data storage software company. MemoScale has developed the Next Generation Erasure Coding software providing extreme capacity utilization and performance for data storage systems. Article in Norwegian: http://bit.ly/2oIIcwQ
Xeneta, the leading ocean freight benchmarking and market intelligence software platform, has raised 12 MUSD in a Series B round led by London-based Smedvig Capital. Existing investors including Creandum and Alliance Venture also participated in the round. Jan- Erik Hareid, Alliance Venture: “We are really impressed with the team as well as the growth and progress in Xeneta over the two years we have been involved with the company. We are excited about the future potential based on the unique position Xeneta has taken in the marketplace”
Alliance Venture participated alongside Northzone and Ojada in the largest funding round in Fusetools to date. Fuse has shown initial customer traction, and the capital will go towards scaling sales, marketing, support and product development. Please also see DN and Shifter stories.
Smart sensor developer Novelda, an Alliance Venture portfolio company, has closed a new 12 MUSD funding round. The funding will allow Novelda to take its XeThru vital sign and true presence sensors to high volume production. The company also announced that Cornelia Mender has been appointed new CEO to take the company to the next level. See also article.
Eventum has raised NOK 8 million in a seed round lead by Alliance Venture. Eventum provides a marketplace for finding and booking the perfect event venue. Most venues are under-utilized, and finding the right location is tedious and time-consuming. Eventum makes the whole process smoother, both for venue owners with unused “inventory” and for event organizers looking for the perfect place.
Kolonial.no has raised approximately NOK 150 million from mainly four new investors at a pre-money valuation around NOK 1 100 million. The capital will go towards marketing, technology development and geographical expansion, and thus further strengthen Kolonial.no’s positon as the leading online grocery in Norway.
Encap Security, provider of uncompromising authentication for financial institutions and Alliance Venture Polaris portfolio company, has been acquired by AllClear ID, the world leader in protecting organisations, their employees, and their customers from the fallout of a data breach.
Kolonial.no has raised MNOK 12 in a seed round led by Alliance Venture. Kolonial.no is experiencing rapid growth in an underserved segment of the Norwegian e-commerce market. The total market for groceries in Norway is around NOK 160 billion, with an estimated 0,1% of this sold through online players. In comparable markets, like Sweden and the UK, the market penetration is much higher.