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This article was first published in the September 2015 issue of WIRED magazine. Be the first to read WIRED's articles in print before they're posted online, and get your hands on loads of additional content by subscribing online
Nokia and Rovio cast long shadows over the Finnish tech scene. But Nokia's gutting by Microsoft and Rovio's gradual move into the worlds of licensing and merchandising seems to have done the city's startup ecosystem a huge favour – Nokia has released more than 10,000 staff over the last decade. "The startup scene is getting Nokia's jewels," says Jaakko Hynynen, CEO of incubator Startup Sauna. "Some very senior people with a huge wealth of experience and contacts came out of the company – the result was an explosion for the startup scene." Former Nokia employee Petteri Koponen, for instance, went on to found VC Lifeline Ventures and invested in Supercell.
Today the city's strengths range from gaming to finance.
Kiosked
Keilaranta 1, Espoo FI-01250 "As the sheer volume of content online grows, the opportunity for advertisers is diminishing," explains Micke Paqvalén, co-founder and CEO of Kiosked. Its smart solutions include responsive graphical overlays – ads that float over text, pictures or video, and click through to buy. The firm has raised €12.6m (£8.9) across three rounds – with €3.7m this February.
Beddit
Kimmeltie 3, Espoo 02110 "Sleep is the foundation of health and wellness," explains Lasse Leppäkorpi, 35, founder and CEO of sleep-monitor firm Beddit. Combining an app with a sensor strip that lies beneath the bed sheet, it uses ballistocardiography to monitor your movement. After two US partnerships failed in 2006 and 2012, the firm now has $3m (£2m) to fund expansion.
Rightware
Niittymäentie 7, Espoo 02200
Helsinki's gaming and mobile tradition provided the launch pad for Rightware -- which builds user interface screens and software for car makers. The Audi TT's virtual cockpit marked its debut. Having completed a third funding round last year -- bringing total investment to €11m -- Rightware is looking at other industries for next-step expansion.
Wolt
Itämerenkatu 11-13, Ruoholahti, Helsinki 00180 "The future of mobile payments needs to be seamless -- just as gaming is," says Miki Kuusi, 25, co-founder and CEO of foodie newcomer Wolt. Order and pre-pay for a meal at a restaurant via the app, and the waiting-time indicator means you can turn up just as it's served. Wolt launched in autumn 2014, with a $500,000 seed-funding round led by Inventure. woltapp.com
Shark Punch
Kalevankatu 9, Helsinki 00100
“The biggest mistake you can make is to launch a game, ship it, and think your job is done,” says Jiri Kupiainen, co-founder and CEO of Shark Punch. Playfield is its gaming discovery platform, which connects gamers with new games: “The channels connecting the two aren’t there,” he says. London Venture Partners agrees -- it led a €1.2m round in February.
Enevo
Tähdenlennonkuja 1, Espoo 02240
Is there cash in trash? Enevo’s founder Fredrik Kekalainen, 40, thinks so. The company’s battery-powered sonar sensors are stuck in waste containers to measure the fill-level data of bins in real-time, saving on unnecessary rubbish-truck trips. In August 2014, the company announced an $8m funding round from Earlybird, Lifeline Ventures and Finnish Industry Investment.
Holvi
Fabriksgatan 27-29 A, Helsinki 00150
Former VC Johan Lorenzen -- Holvi’s 36-year-old CEO -- offers every conceivable financial service for freelancers, micro-businesses and SMEs, from invoicing to bookkeeping. But at the heart of Holvi’s offering is a regular current account. Founded in 2011 to take advantage of new Europe-wide banking regulations, Holvi closed its third funding round for €1m last year.
Yousician
Eerikinkatu 28, Helsinki 00180
Founders Chris Thür and Mikko Kaipainen met at Finland’s Tampere University of Technology. Passionate about learning music, they realised that teaching wasn’t the problem, but motivation was. So Yousician’s first tutor app WildChords gamified learning. Seed funding of $1.4m in 2012 from True Ventures has allowed new products to be developed.
Everywear Games
Mannerheimintie 12 B, Helsinki 00100
“When Apple announced the Watch we decided to go all in,” explains Aki Järvilehto, 42, co-founder and CEO of the gaming newbie. Its stellar board includes designer Markus Tuppurainen, 39 (formerly of Rovio), local VC Mika Tammenkoski, 40, chairman Petteri Koponen (previously chair at Supercell), and Nikolaj Nyholm, an advisor to Minecraft creator Mojang.
Smartly.io
Itämerenkatu 1, Helsinki 00180
Founded in 2013 by CEO Kristo Ovaska, 32, Smartly.io automates performance marketing primarily on Facebook. Ovaska’s previous role was running Startup Sauna, making him one of the best-connected men in Helsinki and European tech. Smartly.io offers multiple A/B tests and dynamic product ads. Its series A funding round in April had Lifeline Ventures invest €2.5m.
This article was originally published by WIRED UK
