A record number of 380 applicants from 47 countries started this year’s sTARTUp Pitching competition. After a fierce competition, the winners have been announced. LightCode Photonics and Nanordica Medical were awarded EstBAN-led syndicates of €200k and €150k respectively, and Longenesis received a €100k syndicate investment from .Cocoon Ventures.
The Estonian Business Angels Network (EstBAN) selected their syndicated investments to go to LightCode Photonics and Nanordica Medical. “In the TOP40 there were companies from GreenTech, FoodTech, DeepTech, MedTech and other interesting fields. In this group there were many startups who went through the investment readiness training by New Nordic Leads, which hopefully contributed to the success in the competition. EstBAN syndicate lead investors decided to choose two deep tech companies founded and led by women. This hopefully shows the trend and the future of venture capital – more and more patient money goes into companies that are science-based and diverse,” commented Anu Oks, Managing Director of EstBAN.
EstBAN had initially planned a syndicate investment of up to €200k in one company, but seeing the high quality level of participating startups, decided to give out two instead. “There were some amazing examples of impactful technological advancements and we decided to go forward with the two companies that stood out the most,” explained lead investor Heidi Kakko. “We’re excited to see how we can support the growth of these two companies and look forward to what the future holds,” added the lead investor Martin Goroško.
LightCode Photonics are building world’s first software defined 3D camera to capture 3D images in real time and enable extensive uptake of the 3D imaging technology to widen the scope of autonomous operations for service robots. Nanordica Medical is developing advanced antibacterial wound care products to avoid infection-related amputations.
In addition to the EstBAN syndicates, there was a €100k syndicate investment from .Cocoon Ventures that went to Longenesis. “Their team is well-aligned with the values of .Cocoon Ventures, such as willingness to learn, growth mindset and diligence. Additionally, they are just in the right phase where we can contribute most to their future growth,” said Aleksander Tõnnisson, the Founding Partner of .Cocoon Ventures.
Numerous startups were mentored and trained by New Nordic Leads mentors, who went through the process of raising funding from angels and venture funds.
Next sTARTUp Day is in March 15-17, 2023, get ready!