Top Startups / March 3, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Finnish Startups To Watch in 2022

Finland is a country with great natural beauty and is home to some magical tales, but it is also the home to many new and growing businesses. The country has a growing startup ecosystem, with a range of Finnish startups gaining significant funding. It is also known to be a rather happy place, ranked at number one in the world. All of this shows that the country can create top startups.


1. Sulapac

Year Founded: 2016

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Antti Parssinen, Laura Kyllönen, Suvi Haimi

Sulapac is a Finnish start-up trying to tackle our plastic problem. The green technology company is offering consumers a different kind of packaging. Their solution is to use biodegradable packaging, to reduce the amount of plastic waste produced. Sulapac claim their packaging design is a plastic alternative. The packaging is being implemented in multiple industries, from creating straws, cutlery and packaging supplements and cosmetics. It can be manufactured through extrusion, injection moulding, and other techniques.

The start-up was founded in 2016 in Finland by Antti Parssinen, Laura Kyllönen and Suvi Haimi. The company employs between eleven and fifty people. The headquarters are based in Helsinki, Southern Finland, Finland. Five completed funding rounds so far, has raised $20.9M for the technology start-up, with eleven investors.

2. CrediNord

Year Founded: 2019

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Jan Forsbom, Jim Forsbom, Matias Peltoniemi, Roope Lindroos

CrediNord is a Finish technology start-up working within the finance technology industry. The company works in banking, B2B and financial services sectors, reinventing SME lending. Small and Medium Enterprise lending allows countries to grow their economy and is therefore very important. CrediNord is working with small and medium enterprise lending as well as micro-enterprises. It is an online lending platform to help businesses with cash flow issues.

Jan Forsbom, Jim Forsbom, Matias Peltoniemi and Roope Lindroos founded CrediNord in 2019 and have since grown the business to employ between eleven and fifty people. The headquarters are located in Helsinki, Southern Finland, Finland. €48.4M has been raised so far in five funding rounds between July 2019 and December 2021.

3. ReceiptHero

Year Founded: 2018

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Joel Ojala, Saku Pihlajaniemi, Tommi Keränen, Tuomas Peippo

ReceiptHero is another very successful and growing start-up company from Finland and is working within the financial technology industry. This start-up has created an online platform centred around digital marketing and advertising platforms. Using finance technology and application programming interface software, the company has created a tool that allows customers to receive receipts from the system at the point of sale and have them sent to their own banking applications.

The Finish start-up founded in 2018 claims to be the safe place to manage purchasing data and allows businesses to get a better understanding of and engagement from their customers. Joel Ojala, Saku Pihlajaniemi, Tommi Keränen and Tuomas Peippo founded the company that now has an employee size of between eleven and fifty individuals and Helsinki is where the headquarters are based. The first funding round the company completed took place in September 2018 and it has since completed three more, with the most recent having taken place in May 2021. The total funding amount sits at $4.4M with three investors.

4. Comparables.ai

Year Founded: 2021

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Markus Vesala, Martin Kangasniemi, Muhammad Ammad-ud-din, Niko Nalli

The next Finish start-up on the list is Comparables.ai which is a technology company specialised in using artificial intelligence for the market research and fintech industries. Comparables.ai provides its users with an online platform that compares companies quickly. The platform also allows users to personalise their searches whilst finding out who works in a specific industry. The tool is great for market research and allows businesses to understand the field they work within as well as who they are up against, the leading businesses and how many companies operate in the same sector. The tool can also be used for unfamiliar industries and claims to be the quickest way to find companies.

Comparables.ai has its headquarters in Helsinki, Southern Finland, Finland and has an employee size of eleven to fifty. Markus Vesala, Martin Kangasniemi, Muhammad Ammad-ud-din and Niko Nalli founded the start-up in 2021. In total, the company has made $700K from one funding round in January 2022.

5. Aatos.app

Year Founded: 2020

HQ: Helsinki, Southern Finland, Finland

Size: 1-10

Founders: Aku Pöllänen, Sakari Pesonen, Severi Haverila, Tatu Mäenpää

Aatos.app or otherwise known as Aatos Legal Technology Oy, is a legal technology start-up from Finland. The start-up provides its customers with a solution for legal matters without going down the traditional route of hiring a lawyer. It is supposed to be a more cost effective way of resolving legal matters. The digital legal team helps reduce the nerves of facing and hiring a lawyer and can also save valuable time.

In 2020 Aku Pöllänen, Sakari Pesonen, Severi Haverila and Tatu Mäenpää founded Aatos.app and currently have an employee size of one to ten employees. The company has its headquarters based in Helsinki, Southern Finland, Finland. In two funding rounds, the company has raised €1.4M with two investors.

6. AISpotter

Year Founded: 2018

HQ: Oulu, Finland

Size: 1-10

Founders: Anri Kivimäki, Sami Huttunen

AISpotter is a Finnish startup that was founded in 2018 and is currently based in Oulu, Finland. The company aims to make video analysis easier by using AI to quicken the process of analysing video, faster than a human could.

Since being founded, the company has gone through five rounds of funding, with these funding rounds being supported by six investors. From these investments, the company has managed to raise a figure of $564,400.

7. Color The Minds Oy

Year Founded: 2020

HQ: Espoo, Southern Finland, Finland

Size: 1-10

Founders: Make Nguyen, Olli Kamunen, Thanh Bui

Color The Minds is a Finnish start-up company working with virtual reality in the education technology sector. The company uses software and information technology in order to develop methods to enhance learning. The immersive technology allows students to engage more fully in their education, by learning through playing games. Color The Minds claims to make complex information easier to understand.

The company was founded in Finland in 2020 and now has its headquarters based in Espoo, Southern Finland. Color The Minds employs between one and ten individuals and was founded by Make Nguyen, Olli Kamunen and Thanh Bui. In November, 2020, the start-up completed their first funding round, then the second took place in March 2021. From the two rounds, the company has €135K total funding.

8. Quanscient

Year Founded: 2021

HQ: Tampere, Western Finland, Finland

Size: 1-10

Founders: Alexandre Halbach, Asser Lähdemäki, Valtteri Lahtinen, Juha Riippi

The next Finnish start-up to watch this year is Quanscient. This company is a SaaS (software as a service) platform, but more specifically uses simulations for marketing. Quanscient is using computer algorithms to move simulations away from just dedicated hardware, to cloud based platforms. Using Quantum computing, Quanscient offers its customers different tools in order to help get their products to market faster and more efficiently.

Quanscient was founded in September 2021 by Alexandre Halbach, Asser Lähdemäki, Valtteri Lahtinen and Juha Riippi. Between them they have years of research and experience in the industry, as well as expertise in software architecture and software development. The start-up currently has an employee size between one and ten people and has its headquarters in Tampere, Western Finland, Finland.

9. Cooler Future

Year Founded: 2019

HQ: Helsinki, Southern Finland, Finland

Size: 1-10

Founders: Matti Rönkkö, Moaffak Ahmed

Cooler Future is another technology start-up from Finland working within the financial technology industry. The start-up works to help enable its customers to manage their wealth through investing in a more eco-friendly way. The platform gives its users the power to invest in businesses that match their moral values. It is an innovative way to change how the investment industry operates; making money can align with progress towards a greener future.

Cooler Future was founded in 2019 by Matti Rönkkö and Moaffak Ahmed and now employs between one and ten people. The headquarters are located in Helsinki, Southern Finland, Finland. In just one funding round in October 2020, the start-up raised an impressive €1.4M with three investors.

10. Kide Science

Year Founded: 2017

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Aino Kuronen, Jenni Vartiainen, Sari Hurme-Mehtala

Kide Science is the next Finnish start-up to keep an eye on through 2022. It is an edtech company working more specifically in STEM education (science, technology, engineering, and mathematics). Using a story telling method of teaching Kide Science helps young children learn about science. Experiments can be completed remotely, without a teacher, meaning a parent can guide an at home lesson with things found around the house.

Aino Kuronen, Jenni Vartiainen and Sari Hurme-Mehtala founded the Finnish education technology start-up in 2017 and currently employ between eleven and fifty employees. The headquarters are located in Helsinki, Southern Finland, Finland and since being established in 2017, the company has raised €2.7M in total funding. Three funding rounds took place between December 2017 and May 2020 and there were seven investors.

11. Claned Group

Year Founded: 2016

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Antti Pasila, Vesa Perala

Claned Group (or also known as Claned) is another education technology and software start-up from Finland. This start-up focusses their platform on increasing engagement with the educational services and content. The platform acts as an online classroom where many different courses are accessible. Specific features enable the best use of the materials to bring life into the course.

Claned Group was founded in 2016 by Antti Pasila and Vesa Perala. The company has its headquarters based in Helsinki, Southern Finland, Finland and employs between eleven and fifty people. There have been seven funding rounds that have raised $7.2M, with two investors.

12. Selma Finance

Year Founded: 2016

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Kevin Linser, Mikael Roos, Patrik Schaer, Valeria Gasik

Selma Finance is a Finnish start-up working in the financial services sector. It is designed to help make managing personal finances easier. Investing can be confusing and time consuming, so Selma Finance (or otherwise known as just Selma) is there to help make it easier and quicker. The company also offers its users financial advice from digital assistants.

The fintech start-up was founded in 2016 by Kevin Linser, Mikael Roos, Patrik Schaer and Valeria Gasik. The headquarters are located in Helsinki, Southern Finland, Finland and the employee size is between eleven and fifty employees. In four funding rounds the start-up has raised $7.6M in funding with three investors.

13. EVA Global

Year Founded: 2017

HQ: Tampere, Western Finland, Finland

Size: 51-100

Founders: Donald Hopper, Niina Hopper

EVA Global is a clean technology start-up from Finland that works within the automotive, information technology, telecommunications and electric vehicles industries. The company is also known by the names EVASolutionsGroup and EVAssist. EVA Global offers its users services in customer experience as well as infrastructure management, specifically for electric vehicle charging infrastructure. Their specialised team of experts are enabling people to travel in a more eco-conscious way.

The cleantech start-up was founded in 2017 and set base in Tampere, Western Finland, Finland. Donald Hopper and Niina Hopper founded the company that now employs between fifty one and one hundred employees. They have completed one private equity round with one investor.

14. BroadBit Batteries

Year Founded: 2015

HQ: Helsinki, Southern Finland, Finland

Size: 1-10

Founders: Andras Kovacs, David Brown

BroadBit Batteries is another Finnish technology start-up that also works with clean technology. This start-up operates within areas such as hardware, manufacturing, battery, electronics and renewable energy. The company is creating and producing a new battery which is designed to enable users to work towards a greener future. They are using sodium-based chemistries to create the batteries and believe the technology can be implemented in multiple industries and used for electric vehicles, grid energy storage as well as portable electronics.

Andras Kovacs and David Brown founded the Helsinki, Southern Finland based start-up in 2015. The start-up's employee size is between one to ten individuals. Since 2015 the company has completed two funding rounds and has raised an impressive amount of €3.3M total funding.

15. Iconicchain

Year Founded: 2017

HQ: Helsinki, Southern Finland, Finland

Size: 1-10

Founders: Andras Vajda

Iconicchain is the next start-up on the list to watch in Finland. It is a finance technology company working in compliance and blockchain technology. Iconicchain is digitising and automating regulatory compliance whilst cutting associated costs in half. It works to automate compliance in real time. It has also been named Finland's most innovative fintech start-up.

This Finnish company was founded in 2017 by Andras Vajda and currently employs between one and ten people. The headquarters are located in Helsinki, Southern Finland, Finland. Since 2017, the company has completed two funding rounds; the first took place in January 2018 and the second took place in November 2021 and between the two, the company has managed to raise $1.2M with two investors.

16. SpinDrive

Year Founded: 2015

HQ: Lappeenranta, Southern Finland, Finland

Size: 1-10

Founders: Alexander Smirnov, Janne Heikkinen, Nikita Uzhegov

SpinDrive is a technology start-up company from Finland. The start-up is creating levitation technology that reduces the need for oil, so is therefore a more eco-friendly solution. SpinDrive's technology is more energy efficient than traditional alternatives. The company operates within the clean technology industry as well as the electronics and energy sectors. The company uses active magnetic bearings for the electrical machinery to stop friction.

SpinDrive was founded in December 2015 by Alexander Smirnov, Janne Heikkinen and Nikita Uzhegov. It currently employs between one and ten individuals and has its headquarters in Lappeenranta, Southern Finland, Finland. SpinDrive has so far completed four funding rounds and raised $1.9M with three investors.

17. IPRally

Year Founded: 2018

HQ: Helsinki, Southern Finland, Finland

Size: 11-50

Founders: Juho Kallio, Juuso Piskonen, Sakari Arvela

IPRally is the next Finnish start-up to watch in 2022. It is a legal technology start-up that works with artificial intelligence, information technology and software for patent services. The company has made a tool that its customers can use to search for patents just like a patent professional and it is made easy to use. With a quick search time, accurate performance and competitor monitoring tool, the platform makes patent search software user friendly.

The company was founded in 2018 by Juho Kallio, Juuso Piskonen, Sakari Arvela. IPRally currently employs between eleven and fifty employees and has its headquarters based in Helsinki, Southern Finland, Finland. In three funding rounds, the company has raised €2.4M with three investors.

18. New Nordic School

Year Founded: 2018

HQ: Espoo, Southern Finland, Finland

Size: 11-50

Founders: Janne Jormalainen, Pia Jormalainen, Suzanne Perkowsky

New Nordic School is an edtech start-up from Finland. This Finnish start-up is aiming to change up the current educational system in place both in primary schools and secondary schools. The company embraces creativity and supports schools and therefore students with educational consultancy services alongside the Nordic learning platform which is being shared worldwide. A personalised education system is being created to help encourage pursuing passions and move away from unengaging curriculum.

This Finnish start-up was founded by Janne Jormalainen, Pia Jormalainen and Suzanne Perkowsky in January 2018. The company currently employs between eleven and fifty people and has a headquarter base in Espoo, Southern Finland, Finland. So far New Nordic School has completed three funding rounds between 2018 and 2020, raising $2.5M.

19. InvestPost.com

Year Founded: 2021

HQ: Vantaa, Southern Finland, Finland

Size: 11-50

Founders: Gian-Luca Cioletti

The next Finnish start-up to watch in 2022 is the fintech company InvestPost.com. This start-up is running a unique business model, providing its customers with a digital financial social platform. The site is designed for professionals to network on, allowing beginners to gain contacts with experts across the world. It is the perfect place for individuals to gain market specific knowledge in one platform.

InvestPost.com or also known as InvestPost was founded in February 2021 by Gian-Luca Cioletti and the headquarters are based in Vantaa, Southern Finland, Finland. The company currently employs between eleven and fifty individuals.

20. Brightplus

Year Founded: 2014

HQ: Tampere, Western Finland, Finland

Size: 11-50

Founders: Dr Jarkko Leivo

Brightplus is another Finnish clean technology start-up company. The business operates within clean tech, manufacturing, sustainability, chemical and packaging services industries. Brightplus designs and creates new functional biomaterials using sustainable, renewable sources. Brightplus claims to be revolutionising the functionality of materials with their deep chemical technology. The company works to design the best solution for different businesses' production lines within multiple industries; from packaging, to cosmetics, to construction.

Dr Jarkko Leivo founded the Finnish technology start-up Brightplus in 2014. It now employs between eleven and fifty employees and has a headquarters based in Tampere, Western Finland, Finland. In just one funding round in December 2021, the company managed to raise €3.9M with one investor.

21. Solar Water Solutions

Year Founded: 2015

HQ: Espoo, Southern Finland, Finland

Size: 11-50

Founder: Antti Pohjola

Solar Water Solutions is the final start-up from Finland to watch in 2022. It is a green technology start-up that works within the manufacturing and water purification industries. Solar Water Solutions creates water purification products that are designed to be economically more accessible and more sustainable for small-scale needs. They have different product designs for fresh water purification, sea purification and brackish purification.

The company was founded in 2015 and one of the co-founders of Solar Water Solutions is Antti Pohjola. The business has a headquarters in Espoo, Southern Finland, Finland and currently employs between eleven and fifty people. Two funding rounds between January 2016 and June 2020, has secured the company €1.3M in total funding with one investor.


FAQs

How Many Startups Are In Finland?

There are currently more than 4000 startups in Finland.

What is The Average Investment in Finland

The average investment in Finnish startups in Helsinki is $408,000 at seed stage and $2.7 Million in Series A.

What Are The Strongest Industries in Finland?

The main industries in Finland are electronics, machinery, forestry and chemicals.

Top Finnish Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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