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Deep tech indicates substantial and high-tech scientific advancements along with engineering innovation. The deep tech industry is associated with artificial intelligence, machine learning, speech and image recognition, robotics and more.
Europe is one of the key markets for deep tech startups. According to a new report by Startup Genome, almost half of all new tech companies (45%) are Deep Tech companies in areas such as Blockchain, AI and Robotics.
When it comes to the Nordics, in Sweden, more than $1 billion invested in deep tech companies since 2013, claim Dealroom and Atomico. While there are hundreds of deep tech companies in the Nordics, many are being created in the technical universities by entrepreneurs and researchers. Some popular Nordics deep tech startups are Tobii, a leader in eye-tracking and Mapillary, a leader in image recognition. Besides these, there are many other fast-growing startups that you should be aware of and some of them are detailed below.
Tibber (Sweden)
Founders: Daniel Lindén, Edgeir Aksnes
Funding: €26.8 million
Valuation: SEK440 million – SEK660 million
Founded year: 2016
Why its hot: Tibber, an energy startup based in Stockholm is on a mission to change the way we buy and consume electricity. The company lets consumers lower the energy bills with the help of a single app. It shows that the power purchased for is done automatically by its bots. Tibber has a unique technology that lets you buy electricity automatically using smart algorithms.
Peltarion (Sweden)
Founders: Luka Crnkovic-Friis, Måns Erlandsson
Funding: €34.3 million
Valuation: SEK728 million – SEK1.1 billion
Founded year: 2005
Why its hot: Peltarion is dedicated to enhancing the quality of life with the help of artificial intelligence. It specialises in operational AI for scalable applications. The company facilitates governments, businesses and non-profit organisations with AI-driven adaptability for improved efficiency. Peltarion aims to deal intricacies related to health and wellness, energy and food safety smartly and swiftly with AI.
Biofiber Tech (Sweden)
Founders: Eric Zhang
Founded year: 2016
Why its hot: Biofiber Tech is an innovative tech startup based in Stockholm. The company’s mission is to develop technologies to enable biofibre based materials to be used as environment-friendly alternatives to existing fossil-based plastics. Biofiber Tech was founded to make a contribution towards the protection of our planet and make it a better place to live in.
Textual (Sweden)
Founders: Henrik Gemoll
Funding: €1.7 million
Valuation: SEK48 million – SEK72 million
Founded year: 2014
Why its hot: Textual makes it possible to create automated product descriptions and marketing content for e-commerce and brands. The automatically generated content lets retailers create and maintain a huge volume of content in several languages using Natural Language Generation). The algorithms of Textual optimise the content for better search ranking and conversion. This solution is based on a combination of AI and grammar and makes use of texts are correct in all languages.
Tailored Photons (Sweden)
Founders: Carlota Canalias, Andrius Zukauskas, Valdas Pasiskevicius, Fredrik Laurell
Founded year: 2016
Why its hot: Tailored Photons is a spin-off from Laser Physics group at the Royal Institute of Technology – KTH. It is a quantum technology company, which has developed key components for quantum communications. Tailored Photons is well-positioned to be a part of the growth in the quantum market. It is already selling productions and generating revenue.
Uniti (Sweden)
Founders: Albin Wilson, Isak Monrad-Aas
Funding: €4.3 million
Valuation: SEK68 million – SEK102 million
Founded year: 2016
Why its hot: Uniti was founded with the mission to reinvent city transportation with a mass-market electric city car. The car is pegged to hit the road in 2020 and cost just over $17,000 including taxes in Europe. The electric car from Uniti is up for pre-order on the official website. The company claims that it has received nearly $60 million worth pre-orders for now.
1928 Diagnostics (Sweden)
Founders: Kristina Lagerstedt, Susanne Staff
Funding: €3.8 million
Valuation: SEK60 million – SEK90 million
Founded year: 2014
Why its hot: 1928 Diagnostics provides easy-to-use bioinformatic analysis SaaS service. It combines automated bioinformatics and cloud computing into a cloud-based software that can handle large datasets generated from whole-genome sequencing machines. The raw data file is uploaded directly from the sequencing machine to 1928D, its SaaS platform.
ATLANT 3D Nanosystems (Denmark)
Founders: Ivan Kundrata, Maksym Plakhotnyuk, Tomas Rindzevicius
Founded year: 2018
Why its hot: ATLANT 3D Nanosystems is a high-tech startup with the vision to bring about a revolution in micro and nanofabrication processing with its additive microfabrication technology. At ATLANT 3D Nanosystems, they combine several proven technologies, 3D printing and nanotechnology to develop a unique solution that accelerates prototyping for micro and nanodevices devices rapidly.
Immersal (Finland)
Founders: Mikko Karvonen, Panu Liukkonen, Teemu Berglund, Anttoni Vesterinen
Funding: €1.5 million
Valuation: $4 million – $5 million
Founded year: 2015
Why its hot: Immersal has developed patent-pending technologies for both augmented reality and mixed reality. The company’s AR Cloud SDK provides mapping and virtual positioning solution for multi-user AR. These technologies can be used for enabling immersive AR experiences including product finding, indoor navigation, ads and multi-player AR games.
Stay tuned to Silicon Canals for more updates in the tech startup world.
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