poLight ASA today announced the successful completion of its initial public offering (IPO). The first day of trading of the company’s shares on the Oslo Stock Exchange is expected to be Monday 1 October 2018 under the ticker OSE: PLT. In the offering poLight has raised 130 MNOK in new funds. See the company’s announcement.
Boost.ai, provider of the world’s most robust virtual assistant platform, announced today the closing of a new round of financing from Alliance Venture. Boost.ai has developed the world’s most robust natural language processing (NLP) algorithms. These algorithms enable virtual assistants built on the James® platform to respond to customer enquiries quickly, efficiently and with unrivaled accuracy. The financing will be used to strengthen the technical and commercial teams within boost.ai, and to support expansion beyond the Nordics. See article (in Norwegian).
Aquabyte raises 3.5 MUSD seed funding; aims to transform fish farming through computer vision and machine learning
Aquabyte, a startup applying computer vision and machine learning models to dramatically optimize fish farming efficiency, today announced a 3.5 MUSD Seed Round of funding co-led by Costanoa Ventures and New Enterprise Associates (NEA) with participation from Alliance Venture, Princeton University and other investors. See press release, Forbes article and Shifter article (Norw).
Arundo Analytics raises 25MUSD Series A funding to bring large-scale machine learning into asset-heavy industries
Arundo Analytics, a software company powering advanced analytics in heavy industry and Alliance Venture portfolio company, announced today an initial closing of 25 MUSD on its Series A financing round. To date, the company has raised over $32.5 million since its founding in 2015. “This investment is a validation of the product and market strategy our team pursued over the last two years,” said Tor Jakob Ramsøy, CEO of Arundo. See article.
Alliance Venture portfolio company, Swarm64 – an enabler of real-time analytics for high velocity and big data – has raised 12.5 MUSD Series B round led by Intel Capital. The funding will be used to strengthen Swarm64’s position as a global leader in FPGA-based accelerators for relational databases. Alliance Venture participated in the round. See press release in English and article in Norwegian.
Alliance Venture invested early alongside FJLabs and was later joined by several reputable Norwegian investors. Aprila delivers a fully automated on-the-spot financing solution for SMEs with an innovative distribution model. The solution will address the SME funding gap through a seamless integration with established ERP solutions and accounting services. See article in Norwegian.
Northern.tech, a supplier of software for “Securing the World’s Connected Devices”, recently raised a new funding round of 2.5 MUSD, led by Alliance Venture and with Investinor also participating. Northern.tech’s product portfolio includes CFEngine, Mender and Zener.
We have shared our perspectives on the new investment in a blog post.
Shoreline AS, a data analytics and simulation software company focused on the energy industry, has secured a new funding from a group of international venture capital funds, including Blue Bear Capital, Alliance Venture and Investinor. Shoreline has already taken a strong position in the offshore wind market, providing software-as-a-service (“SaaS”) to many of the largest offshore wind developers and operators.
At the Norwegian National Finale of the Nordic Startup Awards in Tromsø on September 7 Alliance Venture was announced as Investor of the Year based on votes from the public and jury. The Nordic Grand Finale will take place in Stockholm on October 18. See link for more details.
finetunes GmbH and Phonofile AS, the operating companies of Alliance Venture portfolio company SendR SE, have been acquired by The Orchard, forming a even stronger global platform for music distribution. See also http://bit.ly/2pPj4FA and http://bit.ly/2piJKLW (Norwegian).
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.
Xeneta, the leading data platform for ocean freight market intelligence, has raised a $5.3 million Series A investment round to fuel its continued growth and product development. Prior investors, Creandum, Point 9 Capital, and Alden, participated alongside new investor Alliance Venture. The Oslo, Norway, based company was founded in 2012 and has raised a total of $8.5 million since inception.
poLight® AS has raised NOK 146m in a private placement of shares directed towards new and existing investors. The funds provide financing for the next steps towards commercialization of poLight®’s leading autofocus actuators for mobile phone cameras and represents a next step in the announced plan for a public listing.
Fuse today announced it has received an additional $2.8M in financing led by top Nordic investor Northzone to launch its iOS/Android app development platform and tool suite by the same name. Currently in closed alpha, Fuse aims to bridge the gap between prototype designs and fully working native apps. The new funding brings the company’s total investment to $7M.
Alliance Venture portfolio company never.no is partnering with Twitter and Facebook for Social TV. With Twitter, never.no is a Technology Partner in Broadcast Curation. With Facebook, never.no is one of three global partners with access to the Keyword Insights API.
The Swedish company Forma Publishing Group is one of the leading players in magazine, book and television production. Forma Publishing Group has operations in Sweden, Finland and the Baltic countries and employs approximately 400 persons. They have been in the market for a new production system for magazines and books for a while, and after evaluating a number of available systems, PagePlanner 3 was selected based on its ease of use, price and functionality.
bMobilized is a self service platform for creating mobile versions of existing web sites. By entering your domain name, bMobilized will automatically create a mobile version of your existing website. Then the customer then gets access to online tools for customization of design, navigation and content. After 5 minutes you have a mobile version of your website which automatically resizes to thousands of phones and is kept automatically updated so you don’t need to maintain two websites to a have a mobile version. bMobilized version 1.0 of was launched in the US market in February 2011 and the main investors […]
never.no will show its revolutionary Synchonized Companion App at NAB in Las Vegas | April 11-14, booth #N3737 Additionally never.no will be present at the Vizrt booth, #SL5408, demonstrating the powerful combination of Vizrt graphic systems and our own Interactivity Suite.
Swedish label Darrow have signed a digital distribution deal with Phonofile. Darrow have an impressive catalogue including artists like The Refreshments (12 gold and 2 platinum albums), Dave Edmunds, Eva Eastwood, Johan ”J.B” Blohm, Nejra and many more.
Novelda, the developer and manufacturer of adaptive smart sensors, announces the closing of a $12M Series A financing round to secure delivery and further development of its XeThru sensor technology. The first XeThru sensors are designed to detect movement and human body vital signs such as breathing and heart rate from a distance of several meters. In addition to normal motion detection, the sensors can detect other types of movement including proximity, gestures and more. The sensors use harmless, extremely low energy, high frequency (GHz) radio waves and can sense through clothing, bedding and obstacles such as glass, walls and […]
Arne Tonning, our partner and team member, has since the summer been the “Investor in Residence” at Nordic Innovation House (NIH) in Palo Alto, where he is an integrated part of the team there. The provides Alliance Venture with a more direct and hands-on link into the Silicon Valley ecosystem. Arne’s mission for us in California is to support our portfolio companies, benchmark new investment opportunities for our latest fond and strengthen the Silicon Valley network for long-term value. Feel free to reach out to Arne or us, if this local presence in California is of interest or can be […]
Øyvind Isaksen (51) has been appointed new CEO of poLight AS and the current CEO, Christian Dupont, will become CMO in charge of Sales & Marketing. Isaksen has previously held several CEO positions, most recently in the publicly listed company Q-Free ASA, which he left earlier this year after 7 years as CEO.
poLight offers the fastest autofocus (AF) actuator for use in future camera phones. poLight® has a patented Tunable Optical Lens with many performance benefits compared to today’s VCM (Voice Coil Motor) lens, and it scores far better in terms of instant focus and low power consumption.
Alliance Venture Spring attracts a number of high profile investors. The new early-stage fund will invest in new, promising IT start-ups – primarily in Norway. Alliance Venture Spring is now formally established, after seeing large interest from investors.
The fund was oversubscribed at first closing, and attracted a number of strategic investors, among them Telenor and Opera Software. Capital under management is NOK 510 million.
– We are proud and happy that the fund was oversubscribed so soon after the subscription offer went out. We are also very satisfied that so many competent investors are participating as LPs. We have established a […]
Alliance Venture – together with Northzone – has invested $3.5 million in Outracks Technologies AS. Outracks develops a creative tool suite, Realtime Studio, used by programmers and designers to create stunning, multi-platform apps and visual experiences. Realtime Studio exports blazing fast, native applications for all major mobile and desktop operating systems, as well as WebGL and HTML5 for all browsers.
Incorporated in 2011 by a team of highly skilled engineers with backgrounds in GPU hardware, games and compiler development, Outracks is a company with a deep passion for beautiful pixels. Outracks’ goal is to enable anyone to create amazing user experiences […]
Pan Media Group (PMG) has acquired Pageplanner Solutions AS.
PMG is a leading player in the content marketing business, delivering a full set of services with publishing in all channels: print, video, web and animation. PMG also aquired TV8, a company specializing in video publishing. Pan Media Group offers traditional media companies to share essential but non-core technology and production capacities. Pan Media Group offers both outsourcing of non-core media operations as well as complete outsourcing solutions including editorial and commercial operations.
Press release (in Norwegian)
Alliance Venture portfolio company, poLight, has been chosen as one of six companies named “Cool Vendor for Consumer Devices, 2014” by Gartner, Inc. poLight was chosed for the use technology to enable differentiation in imaging features for mobile devices based on the high-performance Tunable Lens (TLens). The TLens scores far better in terms of instant focus and low power consumption than the current technology in the market. Check out the Gartner Cool Vendor report for more information.
Novelda has been awarded the Frost & Sullivan – 2011 Europe New Product Innovation Award in Radar Sensors. The New Product Innovation Award is presented to the company that has excelled in the following criteria: innovative element of the product, leverage leading edge technologies in product, value added features/benefits, increased customer ROI and customer acquisition/penetration potential. Frost & Sullivan concluded: “The Novelda NVA6000 Impulse Radar transceiver, an extremely advanced electromagnetic high precision sensor integrated on a single chip, offers unique penetration capabilities while bringing down the cost of ownership for its customers. It incorporates advanced design and technology that successfully […]
Phonofile, the leading provider of independent music in the Nordics, expands its operations in Sweden, opens office in Gothenburg led by Torny Gottberg, previously with Border. (Link in Swedish)