Home Enterprise Tech 6 Copenhagen investors share their outlook on investing in 2021

6 Copenhagen investors share their outlook on investing in 2021

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6 Copenhagen investors share their outlook on investing in 2021

Whereas Denmark and Copenhagen don’t on the final reach up as a destination for European startups, it has a thriving local tech scene that’s house to just a few the upper startup conferences. In spite of everything, who doesn’t have to converse about with Copenhagen?

A highly skilled population, gargantuan universities, wonderful healthcare and gargantuan transport links to Europe build the town as upright a region as any to initiate an organization.

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Amongst our investors, we found the trends they had been most interested in included sustainable present chain logistics, esports and gaming, endeavor SaaS, climate tech, deep tech hardware, agritech and edtech. And loads stated they are interested in the manner forward for labor and the transition to diverse ways of working.

Corporations they are mad by included: Afresh Applied sciences, Seaborg Applied sciences (nuclear reactors), Labster (virtual science labs), Normative.io (social and environmental impression measurement) and DEMI (connecting with chefs).

In total, investors stated they are focused on their house ground but are additionally spreading their wings to the “Modern Nordics” (Nordic and Baltic) region. Some are additionally investing in gargantuan European and North American hub cities.

The “inexperienced shoots” of restoration they uncover are appearing in anything digital that includes a workers, in addition to among startups which would be in a position to leverage the pandemic to generate current business units which would be faster than incumbents.


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We surveyed:


Sara Rywe, Principal, byFounders

What trends are you most interested by investing in, most frequently?


Software program and tech (I’m personally extra interested by the “way forward for labor,” fintech, and “way forward for meals”).

What’s your most modern, most exciting investment?


Digitail (a veterinary tool provider solving the outlet between the ever-growing expectations of millennial pet folks and the abilities equipped by veterinarians with their recent tools).

Are there startups that you just wish it is likely you’ll uncover in the industry but don’t? What are some neglected opportunities upright now?


I’d capture to find extra founders with world ambitions in the “uniquely transformative” tool class (the identical manner Airbnb transformed the resort industry and Uber transformed the taxi industry). Many startups we uncover as of late are building a feature instead of a full solution and their vision is set making industries incrementally better. So, here’s a callout to all of you Nordic or Baltic visionary founders accessible: Write me!

What are you looking for in your next investment, in total?


We always look for competent, visionary and passionate founders building merchandise that folk esteem. As an industry-agnostic VC, we retain our eyes originate for a lot of diverse opportunities.

Which areas are either oversaturated or would be too onerous to compete in at this point for a brand current startup? What other kinds of merchandise/products and companies are you wary or concerned about?


One of the most sizzling trends that I uncover include:


Fintech: wage advances, factoring, sustainability reporting and measurements.


Food tech: replace protein, pet meals, meals waste.


Future of labor: virtual offices, collaboration, productivity tools.


If you happen to seize to enter any of the above-mentioned industries, I attributable to this truth attend you to in actuality be considerate in how you differentiate yourself and/or how your group is extra healthy suited to obtain on the mission.

How great are you focused on investing in your local ecosystem versus other startup hubs (or in every single assign the assign) in total? Extra than 50%? Less?


<50%. We invest all the way via the Nordics and Baltics and I’m covering Sweden, Norway and Denmark.

Which industries in your city and region seem neatly positioned to thrive, or no longer, long term? What are corporations it is likely you’ll presumably additionally be interested by (your portfolio or no longer), which founders?


Denmark is incredibly neatly positioned to be triumphant in sustainability and energy (many upright abilities coming from e.g., Vestas and DTU), consumer goods (there’s a gargantuan history in the country around building brands corresponding to Lego, Carlsberg, etc.), and biotech (Novo Nordisk among others playing a colossal portion). Moreover, tool scaleups corresponding to Peakon, Pleo, and Templafy are in actuality leading the manner for a brand current generation of tech startups to thrive in Denmark. When looking at Danish founder specifically, I’m very mad to find corporations corresponding to Qvin revolutionizing healthcare for females by using period blood as an opportunity for a noninvasive blood take a look at.

How have to still investors in other cities think about the final investment climate and opportunities in your city?


They have to still be very mad! Staunch survey at what we’ve viewed in 2021 to this point:


Exits: Peakon $700 million exit and Humio $400 million exit.


Elephantine rounds: Public.com raising $220 million, Vivino raising $115 million and Labster raising $60 million led by Andreessen Horowitz

Design you seek information from to find a surge in extra founders coming from geographies out of doors fundamental cities in the years yet to reach help, with startup hubs losing folks attributable to the pandemic and lingering concerns, plus the attraction of faraway work?


A small. We already uncover a kind of innovation out of doors of Copenhagen in cities corresponding to Aarhus and Odense.

Which industry segments that you just invest in survey weaker or extra exposed to skill shifts in consumer and business habits thanks to COVID-19? What are the opportunities startups would possibly possibly presumably also very neatly be in a position to faucet into during these unprecedented times?


One industry that has been hit onerous by COVID-19 is useless to claim hunch and hospitality. The flipside of that is that we uncover a kind of innovation attributable to that. Examples from our occupy portfolio include:


AeroGuest — a platform that enables for a “contact-free” hunch abilities (skipping lines and reception desks, order online room booking, etc.).


BobW — a brand current produce of sustainable hunch accommodation bringing the acceptable of each and each worlds: “house meets resort.”

How has COVID-19 impacted your investment technique? What are the biggest worries of the founders in your portfolio? What is your recommendation to startups in your portfolio upright now?


COVID-19 has no longer impacted our investment technique vastly and we contain the identical point of interest as sooner than (investing in tool and tech). With that stated, we’re happy to find some industries getting an uplift in these demanding times, corresponding to sustainability and impression.


The largest worries of our portfolio company founders had been around volatility and uncertainty. Since the first lockdown our recommendation has been simple: You would possibly possibly possibly presumably’t control the head consequence. We’ve attributable to this truth worked collectively to be certain that they’ve some upright scenario planning in region and that we think creatively of tips on how to mitigate eventual unfavorable effects on their business.

Are you seeing “inexperienced shoots” regarding earnings increase, retention or other momentum in your portfolio as they adapt to the pandemic?


Tame — one of our portfolio corporations — expanded their match platform to additionally include virtual events, which made it in actuality eradicate off in COVID times.


Corti — yet any other portfolio company of ours — would possibly possibly presumably also in less than four weeks fabricate a product for helping fight COVID-19 with man made intelligence.


Each and each of those corporations are upright examples of how “adapting their merchandise” attributable to the pandemic ended in gargantuan results.

What is a second that has given you hope in the final month or so? This would possibly possibly increasingly be professional, personal or a combine of the 2.


The unexpected rise of consciousness around impression and ESG among VCs! Loads of gargantuan conversations had been held on tips on how to purple meat up our ways of working.

Who are key startup folks you uncover creating success in the neighborhood, whether investors, founders and even other kinds of startup ecosystems roles esteem lawyers, designers, increase specialists, etc. We’re trying to spotlight the movers and shakers who outsiders won’t know.


One of the most extraordinary founders that I survey up to from Denmark include:


Jakob Jønck (Easy Feast), Andreas Cleve and Lars Maaløe (Corti), Sara Naseri and Søren Therkelsen (Qvin), Niels Martin Brochner, Jarek Owczarek and Viktor Heide (Contractbook), Jacob Hansen, Esben Friis-Jensen, Jakob Storm and Christian Hansen (Cobalt) among others.


There’s additionally a lot of gargantuan investors in Denmark including Helle Uth, Christel Piron, Alexander Viterbo-Horten and Anders Kjær amongst others at PreSeed Ventures and Daniel Nyvang Mariussen along with his group at Bumble Ventures. Additionally, the Danish tech ecosystem would no longer be what it is miles without the final work that Vækstfonden does.

Mads Hørlyck, affiliate, Maersk Increase

What trends are you most interested by investing in, most frequently?


Offer chain/logistics including sustainable present chains.

What’s your most modern, most exciting investment?


Afresh Applied sciences.

Are there startups that you just wish it is likely you’ll uncover in the industry but don’t? What are some neglected opportunities upright now?


In total there are still a good deal of opportunities all the way via diverse aspects of the provision chain. We don’t contain any explicit explicit preferences as such in the mean time.

What are you looking for in your next investment, in total?


Digital solution to drive efficiencies all the way via one or extra subparts of the provision chain, each and each upstream and downstream point of interest.

Which areas are either oversaturated or would be too onerous to compete in at this point for a brand current startup? What other kinds of merchandise/products and companies are you wary or concerned about?


Freight forwarding has been maturing in Europe and North The United States with several gargantuan startups in each and each regions. However, the market is still gargantuan but it requires a strong current model as it’s additionally low margins.

How great are you focused on investing in your local ecosystem versus other startup hubs (or in every single assign the assign) in total? Extra than 50%? Less?


Less/small point of interest on Denmark. Main priority in gargantuan European/North American hubs.

Which industries in your city and region seem neatly positioned to thrive, or no longer, long term? What are corporations it is likely you’ll presumably additionally be interested by (your portfolio or no longer), which founders?


Startups with the medical and supporting functions tech are doing neatly. We are interested by Onomondo in the Danish scene — additionally a portfolio company of ours.

How have to still investors in other cities think about the final investment climate and opportunities in your city?


As an upcoming opportunity. Loads of tech hubs had been created and there is a total upright environment including state-backed loans/pre-seed investments and pretty many angels to gain going.

Design you seek information from to find a surge in extra founders coming from geographies out of doors fundamental cities in the years yet to reach help, with startup hubs losing folks attributable to the pandemic and lingering concerns, plus the attraction of faraway work?


We don’t seek information from any critical modifications to the founder-environment in Denmark (too small country).

Which industry segments that you just invest in survey weaker or extra exposed to skill shifts in consumer and business habits thanks to COVID-19? What are the opportunities startups would possibly possibly presumably also very neatly be in a position to faucet into during these unprecedented times?


We uncover an increased point of interest on our investment location: Offer chain/logistics as folks at some point of the pandemic had been great extra exposed to and dependent on flexible and professional present chains. All of the manner from present resilience, present chain visibility, fulfillment and to final-mile shipping. Consumers contain the energy to drive modifications in present chains.

How has COVID-19 impacted your investment technique? What are the biggest worries of the founders in your portfolio? What is your recommendation to startups in your portfolio upright now?


Gross sales conversion charges decreasing/pipelines drying out. Advice is, esteem everyone else, to minimize tag and prolong runway by getting as on the subject of profitability as model permits. Basically basically based on this funding needs would possibly possibly presumably also additionally be discussed.

Are you seeing “inexperienced shoots” regarding earnings increase, retention or other momentum in your portfolio as they adapt to the pandemic?


Certain, we contain viewed some startups being in a position to leverage the pandemic over incumbents attributable to their extra flexible and digital structure.

What is a second that has given you hope in the final month or so? This would possibly possibly increasingly be professional, personal or a combine of the 2.


We contain yet to find a default wave each and each globally within our investment location but additionally in total in Denmark.

Henrik Møller Kristensen, affiliate, Bumble Ventures

What trends are you most interested by investing in, most frequently?


One of the most trends we’re interested by are (1) the growing market of digital media and entertainment, in explicit esports and gaming, (2) endeavor SaaS, e.g., linked to the manner forward for labor, (3) climate trade solutions, e.g., deep tech hardware and tool, and (4) e-commerce businesses, in explicit digital native vertical brands and order-to-consumer conditions.

Are there startups that you just wish it is likely you’ll uncover in the industry but don’t? What are some neglected opportunities upright now?


Services and products and products to meet the needs of the aging population. The selection of elderly folks will seemingly be growing considerably over the next decades, establishing a growing marketplace for merchandise and products and companies to meet the needs from this demographic trade and decrease the stress on societies.

What are you looking for in your next investment, in total?


We highly worth group and traction. We are looking for exceptional founders with strong competencies in engineering, product and industrial, ideally with years of abilities from the industry they are entering with a brand current solution. We capture some indication of product-market match. We esteem methodical earnings increase pushed by paying possibilities, affluent cohort grids and controllable funnels that proves a strong core business. We don’t esteem merchandise which would be still 2-3 years away from monetization. This implies that we can miss the next Fb, but we’re k with that.

Which areas are either oversaturated or would be too onerous to compete in at this point for a brand current startup? What other kinds of merchandise/products and companies are you wary or concerned about?


Traditional social media and apps that require millions of customers sooner than being in a position to flip on the business model. SaaS marketing tools additionally seem crowded.

How great are you focused on investing in your local ecosystem versus other startup hubs (or in every single assign the assign) in total? Extra than 50%? Less?


Subsequent week we can advise our first investment out of doors Denmark. That is our first step in direction of being recent no longer only in Denmark, but in the Nordics.

Which industries in your city and region seem neatly positioned to thrive, or no longer, long term? What are corporations it is likely you’ll presumably additionally be interested by (your portfolio or no longer), which founders?


Nicely-positioned industries in Denmark are medtech, fintech, gaming and natty tech. We’re interested by GamerzClass, Pie Systems, LeadFamly, Omnigame, Natural Basics, Cap desk, Roccamore, Too Good To Sprint, Pleo, Tradeshift, SYBO, Cohesion and extra. Exceptional founders are Victor Folmann from GamerzClass, Sunny Long from Pie Systems, Frederikke Antonie Schmidt from Roccamore and Christian Gabriel from Capdesk.

How have to still investors in other cities think about the final investment climate and opportunities in your city?


Historically, there has been a necessity for added capital and abilities to retain a hit increase-stage startups in Denmark and no longer contain to race to foreign international locations to procedure abilities and capital. However, the investment climate is getting better. Bigger entry to capital and abilities race hand in hand, and what’s completely changing the investment climate for the upper is founders of a hit Danish startups turning help to Denmark and reinvesting in the startup workers.

Design you seek information from to find a surge in extra founders coming from geographies out of doors fundamental cities in the years yet to reach help, with startup hubs losing folks attributable to the pandemic and lingering concerns, plus the attraction of faraway work?


I think we’ll uncover extra attraction to faraway work in the future. However, I imagine it is miles required for startups to be on the subject of different gargantuan esteem-minded startups, founders, advisors and investors, no longer only on the discipline of but in precise life. Establishing a gargantuan network and personal relationships are critical factors to be triumphant and faraway is no longer suited thoroughly for that in my opinion.

Which industry segments that you just invest in survey weaker or extra exposed to skill shifts in consumer and business habits thanks to COVID-19? What are the opportunities startups would possibly possibly presumably also very neatly be in a position to faucet into during these unprecedented times?


The hunch and hospitality industry survey weaker and we’ll uncover a shift in direction of decrease question attributable to faraway work and sustainability points. On the replace aspect, gaming, e-commerce and digital merchandise and products and companies are growing as it is likely you’ll presumably additionally contain extra folks online behind the screens.

How has COVID-19 impacted your investment technique? What are the biggest worries of the founders in your portfolio? What is your recommendation to startups in your portfolio upright now?


We are still happy to invest no topic COVID-19. Gaming has, for instance, been positively tormented by COVID-19, on the replace hand, many startups are additionally struggling attributable to COVID-19. The correct a startup can finish is to administer the runway, contain close dialogue with their investors, slash help costs and strive to pivot to the modifications. Witness for opportunities, no longer boundaries.

Are you seeing “inexperienced shoots” regarding earnings increase, retention or other momentum in your portfolio as they adapt to the pandemic?


No longer yet. Only about a of our portfolio corporations are negatively tormented by COVID-19.

What is a second that has given you hope in the final month or so? This would possibly possibly increasingly be professional, personal or a combine of the 2.


Investors are willing to build current investments and wait on out struggling portfolio corporations. Founders are keeping their heads excessive and making the acceptable out of the present conditions. In some conditions it in truth stimulates current innovations.

Benjamin Ratz, partner, Nordic Makers

What trends are you most interested by investing in, most frequently?


Energy and the transition to a fossil fuel society, data as governance and the changing position of education.

What’s your most modern, most exciting investment?


Seaborg — building modular, runt and stable nuclear reactors.


Labster — virtual science labs that wait on college students all the way via the enviornment immerse in science and STEM.

Are there startups that you just wish it is likely you’ll uncover in the industry but don’t? What are some neglected opportunities upright now?


Improving the public sector.

What are you looking for in your next investment, in total?


Views on how and if the enviornment has completely changed in habits attributable to the pandemic.

Which areas are either oversaturated or would be too onerous to compete in at this point for a brand current startup? What other kinds of merchandise/products and companies are you wary or concerned about?


Micromobility, teledocs.

How great are you focused on investing in your local ecosystem versus other startup hubs (or in every single assign the assign) in total? Extra than 50%? Less?


100%.

What are corporations it is likely you’ll presumably additionally be interested by (your portfolio or no longer), which founders?


Willa. Corti.

How have to still investors in other cities think about the final investment climate and opportunities in your city?


Tons of founders leaving success reports of the region.

Design you seek information from to find a surge in extra founders coming from geographies out of doors fundamental cities in the years yet to reach help?


No but we seek information from the cities to invent extra.

Trace Emil Hermansen, affiliate, Astanor

What trends are you most interested by investing in, most frequently?


Food and agrotech.

What’s your most modern, most exciting investment?

DEMI.

Are there startups that you just wish it is likely you’ll uncover in the industry but don’t? What are some neglected opportunities upright now?


I’d capture to find extra meals tech corporations that “gain meals” — the human component of it that’s. Too many startups point of interest only on the abilities, less on the indisputable truth that it is miles going to still be deeply human centered. That is so prevalent that I instinctively preserve away from startups dubbing themselves as “meals tech” — meals is no longer tech and tech is no longer meals and therein lies the utter and the prize. Right here’s a learn that kind of sums it up.

What are you looking for in your next investment, in total?


Anything that reminds me of those first lines from “On The Avenue”: “They danced down the streets esteem dingledodies, and I shambled after as I’ve been doing all my life after folks that interest me, because the only folks for me are the enraged ones, the ones who’re enraged to are living, enraged to converse, enraged to be saved, desirous of everything at the identical time, the ones that on no chronicle yawn or say a commonplace thing, but burn, burn, burn …”.

Which areas are either oversaturated or would be too onerous to compete in at this point for a brand current startup? What other kinds of merchandise/products and companies are you wary or concerned about?


DNVB.

How great are you focused on investing in your local ecosystem versus other startup hubs (or in every single assign the assign) in total? Extra than 50%? Less?


25% local (DK is still immature from a startup standout — yet the opportunity is that the VC footprint is runt and comparatively unsophisticated).

Which industries in your city and region seem neatly positioned to thrive, or no longer, long term? What are corporations it is likely you’ll presumably additionally be interested by (your portfolio or no longer), which founders?


Corporations: Online communities corresponding to DEMI.


Founder: Erez Galonska of Infarm.

How have to still investors in other cities think about the final investment climate and opportunities in your city?


Tons of opportunity in the event it is likely you’ll presumably additionally contain entry to the upright deal race with the stream/pedigree.

Which industry segments that you just invest in survey weaker or extra exposed to skill shifts in consumer and business habits thanks to COVID-19? What are the opportunities startups would possibly possibly presumably also very neatly be in a position to faucet into during these unprecedented times?


Communities that transcend digital (esteem Tonsser and DEMI).

How has COVID-19 impacted your investment technique? What are the biggest worries of the founders in your portfolio? What is your recommendation to startups in your portfolio upright now?


Worries: Uncertainty and recruitment technique.


Advice: Survive and prepare.

Are you seeing “inexperienced shoots” regarding earnings increase, retention or other momentum in your portfolio as they adapt to the pandemic?


Anything physical that has retail footprint. Anything digital that has a workers footprint.

What is a second that has given you hope in the final month or so? This would possibly possibly increasingly be professional, personal or a combine of the 2.


That everyone’s pumped for what’s about to reach help (put up-COVID) and the realization (or hope?) that nothing will seemingly be as sooner than.

Who are key startup folks you uncover creating success in the neighborhood?


Kasper Ottesen, Highbridge (upright).


Kasper Hulthin (entrepreneur and investor).


Christian Tang-Jespersen (investor).

Eric Lagier, managing partner, byFounders

What trends are you most interested by investing in, most frequently?


Future of labor, productivity increase platforms.

What’s your most modern, most exciting investment?

Normative.

Are there startups that you just wish it is likely you’ll uncover in the industry but don’t? What are some neglected opportunities upright now?


Future of recruiting.

What are you looking for in your next investment, in total?


Passionate founders, solving colossal complications to manufacture a better tomorrow.

How great are you focused on investing in your local ecosystem versus other startup hubs (or in every single assign the assign) in total? Extra than 50%? Less?


We are focused on the Modern Nordics (Nordic and Baltic) region having shown the biggest increase skill in Europe.

Which industries in your city and region seem neatly positioned to thrive, or no longer, long term? What are corporations it is likely you’ll presumably additionally be interested by (your portfolio or no longer), which founders?


Climate tech, health tech, fintech. Normative, Corti, Lucinity.

How have to still investors in other cities think about the final investment climate and opportunities in your city?


Copenhagen is booming and there’s now a strong foundation of experienced founders building in actuality transformative corporations.

Design you seek information from to find a surge in extra founders coming from geographies out of doors fundamental cities in the years yet to reach help, with startup hubs losing folks attributable to the pandemic and lingering concerns, plus the attraction of faraway work?


No — but I seek information from to find great extra diverse groups with a priority on faraway first.

Which industry segments that you just invest in survey weaker or extra exposed to skill shifts in consumer and business habits thanks to COVID-19? What are the opportunities startups would possibly possibly presumably also very neatly be in a position to faucet into during these unprecedented times?


An acceleration of online, faraway, e-commerce and total faster dawdle of transactions.

How has COVID-19 impacted your investment technique? What are the biggest worries of the founders in your portfolio? What is your recommendation to startups in your portfolio upright now?


COvid-19 is a wide accelerator of future trends. These founders that contain adapted finest often is the winners of tomorrow.

Are you seeing “inexperienced shoots” regarding earnings increase, retention or other momentum in your portfolio as they adapt to the pandemic?


Fully.

What is a second that has given you hope in the final month or so? This would possibly possibly increasingly be professional, personal or a combine of the 2.


How founders persevere in these times of wide trade.

Who are key startup folks you uncover creating success in the neighborhood?


Jakob Jønck, founder, SimpleFeast; Kristian Rönn, founder, Normative; Andreas Cleve and Lars Maaløe, founders, Corti.

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6 Copenhagen investors share their outlook on investing in 2021