13 May 2022 was a remarkable day for next-generation software development company Witted Megacorp since the company was listed on Nasdaq First North Market Finland.
Dottir was Witted Megacorp's Legal Adviser during the IPO process. Here are some thoughts of Witted's CFO Teemu Tiilikainen on working with Dottir:
"Even though words like legal due diligence can be a bit scary at first, Dottir was there through the ups and downs, holding our hand and advising us on our questions. For me it seems their flexibility, agility and can-do attitude are a breath of fresh air in their business."
Nordic growth investor CapMan Growth invests in and becomes minority owner of Cloud2, the leading multi-cloud house in Finland. Helsinki-based Cloud2 is focused on developing and managing cloud environments. They hold broad expertise and challenge the markets with a bold straightforward approach.
Dottir assisted CapMan Growth in the investment. Here's some feedback we got from CapMan Growth's partner Heikki Juntti:
"The whole process with Dottir was really efficient and fast. Overall everything went smoothly, which we are very happy with."
Dottir advised Zevoy in its EUR 15 million series A funding round. The round was led by Blossom Capital and joined by previous investors Maki.vc and Brightly Ventures.
Zevoy, founded in 2020, offers a seamless and efficient expense management solution for companies. Zevoy is currently the leading expense management solution in Finland and is also expected to secure a Credit Institution license in 2022.
Dottir advised Irofit Technologies Oy/ZirooPay in the USD 11.4 million series A financing round. The financing round was led by the Lagos-based venture capital fund Zrosk Investment Management.
With their patented technology Lagos- and Helsinki-based ZirooPay provides offline mobile POS solutions for retailers operating in areas where there is no data coverage.
Dottir advised the shareholders of Fastroi Oy in the divestment of the company to myneva Group GmbH and their related reinvestment. Fastroi is a leading Finnish IT provider of ERP systems for home care and housing services as well as CRM systems for child care services.
myneva Group is a leading IT system provider of social and nursing services in Germany. The company has offices also in Austria, Switzerland and the Netherlands.
FOV Ventures has launched an investment fund specialising in metaverse investments with a target size of EUR 25 million. FOV Ventures is looking to back some 25–30 metaverse startups.
Dottir advised FOV Ventures on the formation of their investment fund. This is the feedback we got from FOV Ventures' founding partner Petri Rajahalme:
"Dottir truly helped us along the way with their hands-on approach. We got efficient and expert advice to all of our questions."
Dottir advised Solar Foods Oy in their facility investment project in which the Pharmacy Pension Fund is investing €10m in the Factory 01 facility. Factory 01 will serve as Solar Foods’ platform for scaling up the production of Solein, an innovative protein grown out of microbes cultured with electricity and air. Solar Foods is continuing to invest over €20m in Factory 01, taking total investment in the facility to €35m.
Pasi Vainikka, CEO and co-founder of Solar Foods, commends the cooperation with the pension fund and the entire advisory team: “I’m proud that we are able to demonstrate a unique set-up supporting the progress of a deep-tech start-up while creating a sustainable investment case."
Dottir advised Videoly in its EUR 6 million series A funding round. The round was led by Swedish VC Alfvén & Didrikson and joined by previous investors Vendep Capital, Reaktor and Kim Väisänen.
With their product video management solution Videoly helps brands and retailers automatically connect product videos with online stores. This brings the in-store experience closer to e-commerce. The Helsinki-based startup’s solution is used by over 400 online retailers and brands globally.
Dottir advised sole shareholder of e-ville.com in the acquisition of the company by Verkkokauppa.com Oyj. E-ville is an online store headquartered in Finland with operations in China. The acquisition is the first in the history of Verkkokauppa.com. The acquisition supports Verkkokauppa.com's strategy to strengthen and expand its assortment in own brands. With the acquisition, Verkkokauppa.com will get e-ville’s experienced sourcing organization operating in Shenzhen, China and Hong Kong.
We have had the pleasure of being involved in the possible merger of Vincit and Bilot.
This is the feedback we got from our client Vincit:
"Dottir advised Vincit on a potential merger and was an integral part during the whole negotiation and agreement forming process. We were most happy with their expertise, flexibility and overall good vibe with everyone involved. High Recommendation." - Chief Operations & Legal Officer, Vincit
Dottir advised the shareholders of Disior on the sale of the company to Paragon 28 [NYSE: FNA], a Colorado-based foot and ankle medical devices company.
Disior develops 3D image analytics software for clinicians. Each anatomy-specific module of Disior's software enables clinicians to have the data needed for diagnosis, creating patient-specific surgical plans and assessing treatment outcomes.
Dottir advised Nordic Ren-Gas Oy in their investment round, where they received growth funding from Ilkka Herlin’s investment company.
Ren-Gas is a sustainable energy developer building a decentralized clean P2X gas production and distribution network in Finland for the heavy transportation sector.
Project A Ventures
Dottir advised the lead investor, Project A Ventures, in the USD 4.4 million financing round of Flowrite Oy. Other investors joining the round include Moonfire Ventures as well as previous investors, Lifeline Ventures and Seedcamp. New angel investors, including Ilkka Paananen (CEO & Co-founder of Supercell), Sven Ahrens (Director of Global Growth at Spotify) and Johannes Schildt (CEO & Co-Founder of Kry), also participated.
Flowrite is helping the world to communicate in writing with their unique AI-powered writing productivity tool.
Project A is one of the leading venture capital firms in Europe. As an operational VC, Project A invests in digital companies and provides them with hands-on support.
Dottir advised Mainframe Industries on their $22.9 million funding round led by Andreessen Horowitz and a new set of investors.
Mainframe Industries is building one of the first cloud-native MMO (massively multiplayer online) games, a social sandbox playable across mobile, PC and console.
Dottir advised SpinDrive Oy, a Finnish cleantech company, in their 1.6 MEUR pre-Series A funding round led by Innovestor.
SpinDrive improves the energy efficiency of industrial processes by providing active magnetic bearings to equipment manufacturers easily and affordably.
Dottir advised the owners of Alertum in the sale of the company’s stock to Presto Paloturvallisuus Oy, a leading fire safety company in the Nordics.
Alertum is a work safety training company founded in 2009, providing work safety training annually to over 20,000 professionals in different fields.
Dottir supported Are Oy in the procurement of its new Enterprise Resource Planning (ERP) system from Unit4.
Are is a leading provider of technical building services for the entire life-cycle of properties, from the initial construction phase and maintenance to modernisation and renovation.
Dottir advised Sparkmind.vc on their investment in Freeed.com, the Finland-based teacher platform facilitating peer-to-peer support and professional development of teachers. Supercell CEO Ilkka Paananen joined the round along with few other private and institutional investors.
Sparkmind.vc is the first Nordic venture capital company focused on the learning sector, and this is the 8th investment for their EUR 55 million fund.
Dottir advised Kuva Space on its seed funding round of €4.2M from deep tech VC fund Voima Ventures and Nordic FoodTech VC, the ESA InCubed programme and VTT Technical Research Centre of Finland.
Kuva Space, formerly known as Reaktor Space Lab, provides real time precision agriculture and global carbon sequestration from space. Their mission is to improve life on Earth through daily, space-borne hyperspectral imaging and AI. The company aims to be the global source for actionable data for preventing the destruction of biodiversity and ecosystems.
Dottir advised the shareholders of Silverbucket Oy, a Finnish SaaS company, in the sale of the company to EG, a leading Nordic software company.
Silverbucket provides project resource management software especially for architectural groups and consulting engineers. Silverbucket was established in 2010 and is headquartered in Tampere, Finland.
EG is a market leading vendor of industry-specific, standard software for private and public customers in the Nordics. EG's SaaS offerings are developed by specialists with deep industry and domain knowledge, supporting business-critical and administrative processes. EG employs 1,500+ people primarily in the Nordics and in 2020, Group revenue was DKK 1.4 billion.
Dottir advised Cloud4VR on setting up a distribution agreement with Tower Tag, one of the world’s largest virtual reality eSports games. The futuristic paintball game will be played in 600 virtual game parks around the world using Cloud4VR’s unique platform.
Founded in Finland, Cloud4VR is a global cloud-based platform for digital content securing, distributing, management, and usage metering for XR devices.
Dottir advised Trustmary on its first funding round of EUR 1.86 million. The round consisted of a EUR 1.15 million equity investment from Vendep Capital and a loan of up to EUR 750 000 from Business Finland. The funding will be used to strengthen the company’s marketing and development teams and to drive growth especially in the United States.
Founded in 2016 and headquartered in Jyväskylä, Trustmary is a fast-growing marketing platform with offices in Finland, Sweden, and the USA.
Dottir advised Maki.vc on the formation of their second investment fund with a target size of EUR 100 million.
Maki.vc is a Helsinki-based top tier venture capital firm founded and managed by Nordic veterans of the ICT sector, startup scene, and venture capital industry. Maki.vc focuses on deep tech companies and brand-driven startups and is one the most active venture capital investors on the Finnish market.
Dottir Attorneys advised Playtika Holding Corp. on their acquisition of Reworks Oy, a Helsinki based game studio. The deal value is USD 400 million.
Playtika is a Nasdaq listed mobile games company with over 34 million monthly active users playing its titles.
Reworks is a fast growing game studio in a lifestyle content market, best known for the home design application “Redecor”.
Nordic FoodTech VC
Dottir advised Nordic FoodTech VC on its investment in Melt&Marble (formerly Biopetrolia). Other investors in the €750K seed round include Paulig’s venture arm PINC, Purple Orange Ventures, and Chalmers Ventures.
Melt&Marble, based in Sweden, is on a mission to make plant-based food taste better. Their technology enables them to engineer the metabolism of yeasts and mimic any fat structure as well as create new and better fats.
Dottir advises UM Yhtiöt, CapMan Growth Fund and the other shareholders of RealMachinery in the sale of the company to Wihuri Group. The transaction is subject to the approval of the competition authorities.
RealMachinery is a nationwide full-service machinery company, which imports, sells and rents out earthmoving machinery. In addition to this, the company’s operations include sales of used machinery, servicing and repairs, leasing, and sales of spare parts, giving them a strong value chain. In 2020, RealMachinery Group recorded net sales of EUR 75 million and employed about 100 people.
Dottir advised Tracegrow, a company producing organic fertiliser from used batteries, in its EUR 1.5 million financing by Taaleri.
Tracegrow is the leading cleantech company for waste recycling located in Finland, driving the development of circular economy based on its patent protected breakthrough technology and low carbon products.
Dottir advised Zaron in its investment in Nokeval, a Finnish technology and electronics company developing and manufacturing IoT measuring solutions.
Nokeval has developed IoT applications since the early 2000s and has developed and manufactured more than 500 device models. Nokeval helps its customers develop their business operations to be more intelligent and responsible. Nokeval’s customers operate e.g. in construction, environment, food production, hygiene and basic industry.
Dottir advised Maki.vc in the USD 4.4 million financing round of Pixieray. Other investors in the round were First Fellow, Amazon Alexa Fund, Firstminute capital, Bragiel Brothers and certain individual investors.
Pixieray modernizes traditional eyeglass optics by introducing a pioneering adaptive solution giving anyone perfect vision.
Dottir advised Veri in its USD 4 million funding round led by PROFounders, and accompanied by e.g. Lifeline Ventures and Accel. Veri is a food intelligence company that has developed a wearable glucose sensor and an accompanying app that can help people make better food choices and improve the state of their metabolic health.
Dottir advised Quicksave Interactive in its USD 1.5 million financing round, led by Konvoy Ventures. The funding will be used to create HTML5-based social games.
Quicksave Interactive is a Finnish game studio that develops quality games and game development tools for the new social and quick-paced chat environment.
CapMan Growth and Mandatum Private Equity
Dottir advised CapMan Growth and Mandatum Private Equity in their minority investment in Sofigate.
Sofigate is a business technology transformation company with approximately 600 employees in Finland, Sweden and Denmark. Sofigate helps its customers develop the interplay between business and technology: to design, build and implement transformations and business-friendly technology solutions. The company utilizes the Business Technology Standard and the world’s leading technology platforms such as ServiceNow, Salesforce, Oracle, SAP and Google Cloud. Sofigate aims for an annual turnover of EUR 500 million by 2025.
Dottir advised Woodly, a pioneer in developing wood-based plastic, in its EUR 3 million growth financing by Vesa Puttonen, Lauri Rosendahl, Small Giant Games founders and Taaleri Impakti, among others. The new growth funding will be used for commercialisation and internationalisation of Woodly's product innovation.
Woodly strives for a “world without waste” and has developed wood-based plastic that works in both production and products, but is 100% carbon neutral and reduces the need for the use of fossil raw materials. The company aims to launch several products into international markets to help companies exit the fossil economy, reduce their carbon footprint and support the circular economy.
Dottir advised Carrot Revolution, a Finnish food and EdTech start-up, in its pre-seed funding round which was led by PINC which is a venture arm of Paulig Group and Aristo Invest and TukkuHeino, owned by Heino Family.
The Carrot Kitchen app guides children through a step-by-step process with interactive videos and voice instructions. The service is developed in a fun and game-like way with several elements that will keep the children engaged, including points and reward systems topped with fun cooking challenges.
Dottir advised Finnish edutech startup 3DBear in raising EUR 1.5M of funding from Californian VC Brand Capital International and Finnish Oppiva Invest.
3DBear provides tools for creative learning using virtual technologies. The new funding will be used to accelerate growth in the markets of India and the US.
Jolt Capital, Finnish Industry Investment and Vertex Growth
Dottir advised lead investor Jolt Capital and co-investors Finnish Industry Investment (Tesi) and Vertex Growth in the EUR 30 million financing round of Virta, a leading electric vehicle charging platform company.
The Virta platform allows industries to expand their business in EV charging with a market proven solution integrating electric mobility as a flexibility element of the sustainable energy system. Virta is one of the fastest growing companies in Europe (FT 1000).
Jolt Capital provides growth equity financing to European B2B technology companies about to go global. Vertex Growth is dedicated to partnering with exceptional entrepreneurs and promising companies on the cusp of growth. Tesi is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth.
Dottir advised Carbo Culture in its EUR 5.2 million financing round led by Silicon Valley VC True Ventures and co-led by European early-stage VC Cherry Ventures. Other investors included Swiss climate investor Übermorgen Ventures.
Carbo Culture converts woody waste into functional biocarbons to remove CO2 out of the atmosphere. The new funding will be used to grow the team and build one of Europe’s largest carbon removal facilities.
Dottir advised Sellforte Solutions Oy in their EUR 4 million financing round led by Portuguese Sonae IM, with Bonnier Ventures and Icebreaker.vc as co-investors.
Sellforte offers a unique AI-enabled marketing optimization platform for retailers and consumer brands.
Sonae IM is the technology investment arm of Sonae Group.
Dottir advised the shareholders of Viima Solutions Oy, a Finnish innovation management SaaS provider, in the sale of the company to HYPE Innovation, a German software company backed by Main Capital Partners.
Viima, established in 2013, is a SaaS company specialized in innovation management. Viima helps organizations to collect and manage ideas to make more innovation happen. The company’s diverse customer base ranges from small teams to Global Fortune 500 companies in approximately 30 different countries across the globe. Viima was fully owned by its founders and key employees.
HYPE, established in 2001, started out as a spin-off from DaimlerChrysler. Today, HYPE is one of the global leaders in innovation software.
Dottir advised AMAVI Capital, the lead investor in GBuilder’s EUR 2 million financing round. GBuilder’s existing investors, Butterfly Ventures and Vendep Capital joined the round along with few select angel investors.
GBuilder’s product is a building information modeling (BIM) compatible software that digitises residential and commercial properties, allowing customers to walk through the space using 3D and VR visualisations. The product is already widely used by Scandinavia’s largest residential developers, such as YIT, Bonava, and Hartela.
AMAVI is a Pan-European investor established to support growth of the leading and most promising companies active in the PropTech industry.
Dottir advised the shareholders of Envera Oy, including its founders and Taaleri Circular Economy Fund, in the agreed sale of a majority stake in the company to Norvestor.
Envera’s Smartvatten solution is a market-leading SaaS service for real-time monitoring and reporting of water consumption in buildings.
Norvestor is a private equity firm that has partnered with Nordic businesses for nearly three decades. Sustainability is a key aspect of their investment philosophy.
Dottir advised the owners of Visy Oy in the sale of the company to Sensebit Intressenter AB and in the re-investment by the owners to Sensebit Intressenter AB whose largest shareholders is Helix Kapital.
Visy, founded in 1994, is a leading global supplier of software for image recognition and automation based on AI and deep learning solutions in the transportation infrastructure market. Visy’s customers include industrial companies, ports, and terminal operators as well as border control authorities in 25 countries. The company is headquartered in Tampere, Finland.
Dottir advised Sapphire Ventures, the lead investor in USD 16 million investment round for Flowhaven, the leading brand licensing management platform provider.
Flowhaven, Licensing Suite helps brands to manage their licensing partnerships. Their licensing management platform automates the brand licensing workflow process.
Dottir defended Flow Festival against charges for environmental infraction. On 14 December 2020 the District Court of Helsinki dismissed all charges brought against Flow Festival. The trial is characterised as a precedent for the entire event industry.
Flow Festival was charged for surpassing noise limits set by the City of Helsinki during the festivals in 2017 and 2018. In the trial, it was left uncertain whether the limits had actually been exceeded. This was due to the effect of weather conditions, the location of the measuring point and its distance from the sound source. Also, the Court concluded that Flow Festival had taken all measures possible in order to decrease the volume without compromising public safety.
Flow Festival is a music festival taking place at the historic Suvilahti power plant area close to the Helsinki city centre yearly in mid-August.
Dottir advised ReceiptHero in its EUR 2 million seed financing round that was led by Lifeline Ventures with Superhero Capital as well as existing investor Vidici Ventures as co-investors.
ReceiptHero is on a mission to digitalize receipts and is developing a platform for digital receipt data, uniting banks, vendors, and consumers.
Dottir advised ultimate.ai in its USD 20 million series A round which was led by Omers Ventures with Felicis Ventures and existing investors HV Capital and Maki.vc as co-inventors.
ultimate.ai is a leading virtual customer service agent builder which has nearly 100 customers signed to the platform, including Telia and Finnair. The funds will be used to expand operations in North America and Europe.
CapMan Growth and Finnish Industry Investment
Dottir advised CapMan Growth fund and Finnish Industry Investment (Tesi) in their EUR 12 million investment in Unikie, a Finnish AI & deep tech startup.
Unikie, one of the fastest growing technology companies in Finland, is founded in 2015 and it develops software technology platforms for autonomous vehicles. Unikie’s main segments are car industry, smart machinery, industry 4.0 and telecommunications.
Dottir advised the sole seller in the sale of Carital group (Carital Oy together with its subsidiary MediMattress Oy) to Direct Healthcare Group.
Carital Group is a manufacturer of a comprehensive range of pressure area care and patient handling solutions. A British-based Direct Healthcare Group is a leading European manufacturer of pressure care, patient handling and specialist seating solutions.
Dottir has advised Fisher King Oy in various legal matters relating to Sorjonen (Bordertown) series and the upcoming Sorjonen: Mural Murders movie.
Fisher King, founded in 2013, is a company dedicated to creation, holding and licensing of Intellectual property.
Dottir advised AppFollow in its USD 5 million Series A round led by Nauta Capital, alongside existing investors Vendep Capital and RTP Global participating.
AppFollow is the fully remote all-in-one app management company and helps 70,000 companies including McDonald’s, Disney, Expedia and others, to manage apps at scale. The funds will be used to accelerate into new markets, diversify its customer offering, and hire new talent.
Central Finland Health Care District (Keski-Suomen sairaanhoitopiiri)
Dottir acted as the legal counsel for the Central Finland Health Care District (Keski-Suomen sairaanhoitopiiri) in the procurement of the new Health and Social Information System from Cerner Ireland Limited.
The value of the 10 year agreement is approx. 286 MEUR and the new system will serve more than 700.000 patients throughout Finland.
The case is one of the biggest IT-procurements in Finland during 2020.
Dottir advised Arvo Sijoitusosuuskunta in its EUR 3 million investment in Valve Group, a full-service marketing and communications agency of the digital era.
Arvo Sijoitusosuuskunta is a regional investment cooperative which is owned by its 25,000 members. The cooperative has its roots in the telephone business, which was founded more than 100 years ago.
Dottir advised HappySignals in its EUR 4.7 million series A round which was led by Nauta Capital with Vendep Capital as a co-investor.
HappySignals is a Finnish startup and a provider of an employee experience management platform making experience data visible, understandable and connected to operational data in IT. The funds will be used to further HappySignals’ mission and expand operations in Europe and the US.
Dottir advised Disior in its EUR 1.7 million funding from Maki.vc and Tesi alongside existing investors. The funding will support the commercialisation of Disior's newly CE-marked product Bonelogic Ortho Foot and Ankle.
Disior develops 3D analytics software for medical doctors that analyses, quantifies and parameterizes medical images. Disior's software is being used in Maxillofacial and Orthopedic surgery all over the world.
Dottir advised Maki.vc, the lead investor together with German firm TS Ventures, in EUR 1 million seed round for CarbonCloud.
CarbonCloud is a Swedish start-up that helps companies within the food industry to calculate their climate footprints of their products. The platform is used in-house e.g. by brands Oatly and Nude.
Dottir advised Videoly in its financing round to accelerate international growth especially in North America. The round was led by Vendep Capital and joined by few selected angel investors.
Videoly provides a smooth product video platform for brands and online retailers.
Dottir advised Solar Foods, a company producing a unique single-cell protein out of thin air, in its series A round with EUR 15 million new financing. This was the largest food-tech financing round in Finland to date and it was led by Fazer Group with Bridford Investments Limited, Agronomics Limited, Lifeline Ventures and CPT Capital.
Solar Foods is the first company capable of producing food by using air-captured CO2, including the preparation of the actual final food products. Solar Foods produces an entirely new kind of nutrient-rich protein, Solein®, by using air and electricity as its primary raw materials. This process revolutionises food production, as the production of Solein is non-dependent on agriculture, climate, or the weather.
Dottir advised Kemijoki Oy in outsourcing the technical maintenance and operations of their hydropower plants at the Kemijoki and Lieksankoski watercourse area to Caverion Industria Oy.
Kemijoki is the most significant producer of hydropower and regulating power in Finland. The objective of the partnership between Kemijoki and Caverion is to continue ensuring sustainable and innovative hydropower production in Northern Finland.
Dottir advised Finlayson, a Finnish textile manufacturer, in a subcontract of delivering surgical masks to The National Emergency Supply Agency (Huoltovarmuuskeskus).
Finlayson will provide over 60 million surgical masks in collaboration with MedKit Finland, a Finnish company providing emergency and other healthcare supplies.
Dottir advised Maki.vc, the lead investor in EUR 1 million seed round for Alvar Pet, a Finnish start-up focusing on making pet food even more climate-friendly.
JB Nordic Ventures (NordicNinja)
Dottir advised JB Nordic Ventures (NordicNinja) in the EUR 46 million C round funding of Varjo, in which new investors Finnish Industry Investment, NordicNinja and Swisscanto Invest by Zürcher Kantonalbank and existing investors Lifeline Ventures, Atomico, EQT Ventures and Volvo Cars Tech Fund invested in the company.
Varjo is creating the world’s most advanced VR/XR hardware and software for industrial use, merging the real and virtual worlds seamlessly together in human-eye resolution.
Dottir advised CapMan Growth fund, the lead investor in EUR 5 million investment round for Neural DSP technologies, an AI powered creator of cutting edge sound processing software and hardware for musicians.
CapMan is a leading Nordic private assets management and investment company.
Dottir advised Sparkmind.vc in their seed investment in Playvation, a provider of children’s language learning resources. This investment is aimed to accelerate the international growth of Moomin Language School, Playvation’s core product.
Sparkmind.vc is the first Nordic venture capital company focused on the learning sector, and this is the fourth investment for their EUR 40 million fund.
Dottir advised the shareholders of Ticker Software on its sale to Euronext Corporate Services (a wholly owned subsidiary of Euronext).
Ticker Software is a Helsinki-based provider of regulatory technology solutions. Euronext is the largest stock exchange in Europe and sixth largest in the world.
Dottir advised Sparkmind.vc, the lead investor in EUR 1.5 million seed round for Kide Science, a Finnish provider of early childhood science learning. This financing is aimed to accelerate the company’s growth in Asia and across key international homeschooling markets.
Sparkmind.vc is the first Nordic venture capital company focused on the learning sector, and this is the third investment for their EUR 40 million fund.
Dottir advised Happeo in its USD 12 million series A round to further disrupt the intranet industry. The investment round was led by INKEF Capital with support from the previous investors DN Capital, Maki.vc and Vendep Capital.
Happeo is a provider of the community-powered employee communications platform that acts as a company’s news stream and enterprise social network, combined into a branded intranet environment.
Dottir advised Sparkmind.vc, the lead investor in EUR 1.1 million seed round for School Day, a student wellbeing solution provider.
Sparkmind.vc is the first Nordic venture capital company focused on the learning sector, and this is the second investment for their EUR 40 million fund.
Zadaa (Digital Fabric Oy)
Dottir advised Zadaa (Digital Fabric Oy), an online marketplace for secondhand fashion, in its EUR 4 million financing round. The company received investments from Begin Capital, Superhero Capital and Impulse VC to accelerate its international growth.
Zadaa is the world’s first marketplace to make selling and buying secondhand as simple as in an online store.
JB Nordic Ventures
Dottir advised JB Nordic Ventures (NordicNinja) in the EUR 4.5 million A round financing of Logmore Oy, a Finnish seamless QR data logging service pioneer. The financing round was led by NordicNinja and the other investors included the existing investor Icebreaker VC and new investors Trind Ventures, Tekton Ventures, and Jaakkoo-Taara.
NordicNinja is a deep tech focused venture capital firm with over 100 million euros for supporting scale-up goals in the Nordic and Baltic region.
Neuro Event Labs
Dottir advised Neuro Event Labs, a Finnish health tech company, in its EUR 3.9 million series A round in which Hadean Ventures, SHS Capital and Maki.vc invested in the company to accelerate its international growth.
Neuro Event Labs offers significantly more personalized, accurate and scalable AI-powered diagnostics to treat up to 65 million epilepsy patients worldwide, responding to the increased demand for remote healthcare solutions.
Dottir advised Kemijoki Oy in its procurement of maintenance, environmental and safety work for its hydropower plants from Mitta Oy during 2021-2023.
Kemijoki Oy is the most important producer of hydropower and regulating power in Finland. The company owns 20 hydropower plants located at the Kemijoki watercourse area, River Lieksanjoki and River Kymijoki.
Dottir Berlin advised StarBerry Games, an award-winning mobile games studio, in its series seed round which was led by byFounders.
Berlin based StarBerry Games aims to build genre-leading games by identifying innovation opportunities in selected casual games genres. They plan to combine trending and interesting game mechanics with familiar game design elements, to craft unique gameplay experiences for broad audiences.
Dottir advised Mainframe Industries, a pan-Nordic gaming company with studios in Helsinki and Reykjavik, in its EUR 7.6 million series A round.
The investment round was led by Andreessen Horowitz (a16z) with support from previous investors Maki.vc, Play Ventures, Sisu Game Ventures and Crowberry Capital, and a new investor Riot Games.
This was the first time when a16z or Riot Games is investing in the Nordics.
Dottir advised Sparkmind.vc, the lead investor in EUR 3.4 million series A round of Fuzu, a career acceleration platform focused on emerging economies.
Sparkmind.vc is the first Nordic venture capital company focused on the learning sector.
JB Nordic Ventures
Dottir advised JB Nordic Ventures (NordicNinja) in its and ITOCHU’s EUR 6 million A-round investment in Sensible 4, a Finnish autonomous driving technology pioneer specializing in autonomous driving software for demanding and harsh weather conditions.
NordicNinja is a venture capital firm with over 100 million euros for supporting scale-up goals in the Nordic and Baltic region. ITOCHU is one of the largest Japanese trading companies.
Dottir advised Howspace in EUR 1.6 million bridge funding to gear up its international growth.
Howspace is a dialogue-driven learning and organizational development platform which has around 200 000 active users. The clients span from consulting firms to enterprises and unions, as well as city administrations and governmental offices.
Micro Aided Design Oy (M.A.D.)
Dottir advised shareholders of Micro Aided Design in their sale of majority stake in the company to Evolver Equity. A Helsinki based Micro Aided Design is Finland's leading specialist in building information modeling and offers a wide range of BIM tools and related training and consultancy services to architect offices and other building related companies.
Simultaneously, Evolver Equity Fund I acquired majority stakes in Graphisoft Norge (Norway) and Nolliplan (Sweden), and the acquisition is accelerating the digitalization of the construction business in the Nordic countries by combining the leading open BIM application companies in the Nordics.
Dottir advised UpCloud in its EUR 18 million funding to accelerate UpCloud’s international growth. Investors in this investment round are Connected Capital & Partners, Finnish Industry Investment (Tesi) and Inventure.
UpCloud is a European cloud service provider offering the world’s fastest cloud servers on an hourly billed infrastructure-as-a-service from its data centres in Amsterdam, Chicago, Frankfurt, Helsinki, London, San Jose, and Singapore.
Dottir advised Sulapac, a company manufacturing biodegradable and microplastic-free material, in its EUR 15 million series A round in which Chanel, Mousse Partners, Sky Ocean Ventures, Bonnier Ventures and Lifeline Ventures invested in Sulapac.
Sulapac’s mission is to save our planet from plastic waste. Last year Sulapac was selected among top-100 hottest startups in Europe by WIRED. Sulapac has innovated a material which is safe by design, sustainable, recyclable and biodegrades fast without leaving microplastics behind.
Dottir advised CapMan Growth fund in its investment in Insplan, an independent power, communication and lighting grid engineering company.
CapMan is a leading Nordic private assets management and investment company.
TRUST ESPORT VC Fund
Dottir Berlin advised TRUST ESPORT VC Fund in its investment in the esports engagement platform Kokyo.gg by Berlin based PatronGG GmbH.
TRUST ESPORT VC Fund is a venture capital fund for esports technologies.
JB Nordic Ventures, Industrifonden
Dottir provided legal advice to JB Nordic Ventures (NordicNinja) and Industrifonden in the series A round of EUR 3.9 million into Combinostics, a Finnish health tech pioneer developing software platform for early-stage Alzheimer’s diagnosis.
NordicNinja is a venture capital firm with over 100 million euros for supporting scale-up goals in the Nordic and Baltic region.
Industrifonden is a Swedish venture capital investor managing EUR 700 million fund with a Life Science and Technology focus.
Dottir advised Huhtala Logistics in its acquisition of temperature-controlled food transport business in Seinäjoki along with the customer solutions, the property used for producing the services and the related contracts from Posti.
Huhtala Logistics is a growing family business that offers logistics services.
Finnish Industry Investment (Tesi)
Dottir advised Finnish Industry Investment in its investment in Fira Group, a construction company for a new era.
Tesi is a state-owned investment company, which mission is to develop Finland’s venture capital and private equity market as well as to promote Finnish business and Finland’s economic growth.
Dottir advised Inderes in its acquisition of Flik Media Group, a digital video agency, specialized in high-end livestreams, online event planning and webcasts, creative video production and post production services and content distribution.
Inderes, founded in 2009, is a provider of research for stock market, redefining equity research landscape.
Dottir advised Mainframe Industries in its launch and financing round in which from leading early stage tech and gaming investors, including Maki.vc, Play Ventures, Crowberry Capital and Sisu Game Ventures invested in the company.
Mainframe Industries is a pan-Nordic game venture with studios in Helsinki and Reykjavik, which brings together a strong founding team of 13 veteran game developers.
Dottir has advised Maki.vc in numerous investment rounds. Target companies in the investment rounds included companies such as Spinnova, Universe Company and Fake Production.
Maki.vc is a Helsinki-based, top tier venture capital firm founded and managed by Nordic veterans of the ICT sector, startup scene and venture capital industry. With a fund size of EUR 80 MEUR, Maki.vc makes initial investments in seed and Series A. Maki.vc is one the most active venture capital investors on the Finnish market.
Billebeino Clothing and Accessories
Dottir advises Billebeino in their legal matters and in their expansion to US.
The Finnish clothing brand Billebeino recently opened a showroom in LA. Billebeino is one of the fastest-growing clothing brands in Finland.
Dottir advises Wolt Enterprises in various legal matters such as corporate, technology, privacy and employment.
Wolt is a technology company that makes it easy to discover and get food delivered to your home or office. The Helsinki-based company has operations in 19 countries and in 60 cities, serving food from over 6,000 restaurants with over 12,000 courier partners.
Dottir advised Teosto in its sale of a majority stake in Mind Your Rights to NK Digital Solutions GmbH. Mind Your Rights was established by the Finnish copyright organisation Teosto to develop a global live music copyright licensing platform. The new owner will secure wider resources for the development and global distribution of the service.
Teosto is a non-profit organization that represents more than 33,000 Finnish and almost three million foreign composers, lyricists, arrangers and music publishers.
Dottir advised Playtika, an Israeli-based mobile games company with over 22 million monthly active users, on its acquisition of Seriously Digital Entertainment, a Helsinki and Los Angeles based mobile game studio.
Seriously is the creator of hit mobile game franchise Best Fiends, with more than 100 million downloads.
Dottir has advised Icebreaker.vc in more than ten financing rounds.
Icebreaker.vc makes angel and early seed stage investments varying from 50K to 350K in Nordic & Baltic software-driven companies. Icebreaker.vc is one the most active venture capital investor on the Finnish market
Dottir advised Mount Kelvin in their investment round in which Ensto and certain other parties invested in Mount Kelvin.
Mount Kelvin is a software company focusing on the digitalization of the interior spaces.
Dottir advised Ficolo in its acquisition of Protacon’s data center business. Dottir’s work included both the drafting and negotiation of the business transfer agreement as well as the drafting and negotiation of the updated IT service agreements.
Ficolo is one of the leading data center companies in Finland, specialized in cloud delivery services.
Dottir acted as the sole legal counsel for YIT in the IT outsourcing where YIT procured networking-, capacity-, data security- and mobile services from Telia to all of its operating locations in 11 countries after the merger of YIT and Lemminkäinen.
This high-profile outsourcing case lasted for about 8 months and included a full procurement-, RFP- and negotiation process with altogether 8 suppliers.
Dottir supported YIT in the outsourcing and partnership deal with CGI on the modernisation and harmonisation of YIT's end-user services.
The scope of the deal was a mix of very traditional IT-services (workstation-, life cycle-, service desk- and system integration) together with cutting-edge technology and service offerings (such as digital self-service, data analytics, automation and software robotic technologies). The services are delivered to all 11 YIT operating countries.
Dottir continuously advises in Aller Media’s employment and commercial matters, reaching from day-to-day consultation to dispute resolution.
Aller Media is a media and marketing company in the Nordic countries, headquartered in Copenhagen, Denmark.
Dottir advises Freska in its employment, contractual and IP matters.
Freska is the fastest-growing home cleaning technology company in the Nordics. They offer a flexible service to their clients and their cleaners, and aim to revolutionise the cleaning industry.
Lassila & Tikanoja
Dottir represents Lassila & Tikanoja in litigation relating to termination of employment and cooperation consultations.
Lassila & Tikanoja is a service company that is putting the circular economy into practice. With operations in Finland, Sweden and Russia, L&T employs 8,600 people. Their net sales in 2018 amounted to EUR 802.2 million. L&T is listed on Nasdaq Helsinki.
Dottir advises the rapidly growing Bolt.Works in its employment matters, from day-to-day consultation to dispute resolution.
Bolt.Works offers a staffing platform that connects jobs and workers together where workers and clients can evaluate and recommend each other.
Dottir continuously advises Sulapac in all their legal matters, including contractual matters, IT and technology transactions, R&D operations as well as corporate matters.
Sulapac is a high-profile Finnish high-tech growth company that has developed a biodegradable and microplastic-free material made entirely from renewable sources and FSC-certified wood.
Bublar Group AB
Dottir advised Bublar Group AB, Scandinavia's leading listed company in AR/VR/XR technology, in its acquisition of a Finnish AR-company Sayduck.
Sayduck enables e-commerce companies to develop their digital product portfolio into 3D and allows end consumers to deploy virtual 3D models into the real-world based on the latest Augmented Reality technology.
Endemol Shine Finland
Dottir advises Endemol Shine Finland in its commercial, corporate and employment matters.
Endemol Shine Finland (formerly Metronome Film & Television) has produced entertainment for Finnish television viewers since 2000. Endemol Shine Finland is part of the international Endemol Shine Group and their programmes include Big Brother, Master Chef and the Wall.
Dottir advises Slush in its technology, privacy, commercial and corporate matters.
Slush is the world’s leading startup event. It has grown from a 300-person assembly to a community of true global magnitude. In 2018 it attracted 25 000 changemakers, including 4000 startups and 2000 investors to Helsinki.
CapMan Growth, Finnish Industry Investment, First Fellow
Dottir advised CapMan Growth fund, Finnish Industry Investment and First Fellow in their investment in Picosun, a manufacturer of ALD equipment.
Picosun is a leading supplier of high quality Atomic Layer Deposition (ALD) thin film coating technology for semiconductor and other industries.
Dottir advises Haahtela in the protection of its IP assets and licensing of its software products. Recent matters include redrafting Haahtela’s customer contracts, GDPR compliance project as well as a litigation relating to a B2B software license agreement.
Haahtela is the developer and licensor of leading budgeting and economic management solutions for construction projects and property management.
Dottir advises Elenia in its IT and technology procurements as well as in privacy and data protection related matters.
Elenia is a forerunner in weatherproof network and services. They operate in more than one hundred local districts in Kanta-Häme and Päijät-Häme, Pirkanmaa, Central Finland and Ostrobothnia.
Dottir acts as general legal advisor for Kemijoki, the most important producer of hydropower and regulating power in Finland. Kemijoki owns 20 hydropower plants in Finland. The Finnish State owns majority of the shares of Kemijoki.
Dottir was chosen as Kemijoki’s legal partner in 2018. The co-operation covers a wide range of legal services, including, e.g., contractual and corporate governance matters. Recent matters include assistance in the project of modernizing the technology of certain hydropower plants as well as updating their support and maintenance contracts.
JB Nordic Ventures
We advised JB Nordic Ventures (NordicNinja) in its investment in Flexound Systems, a company providing FLEXOUND Augmented Audio™ that adds the sense of touch to audio-visual listening experience.
NordicNinja is a venture capital firm with over 100 million euros to supporting scale-up goals in the Nordic and Baltic region. NordicNinja backed by Honda, Panasonic, Omron and the Japan Bank for International Cooperation.
Dottir supports Teosto in a broad range of matters, advising in transactional work, technology law, as well as enforcement.
Teosto is a non-profit organisation founded in 1928 by composers and music publishers to administer and protect their rights. Teosto represents more than 33,000 Finnish and almost three million foreign composers, lyricists, arrangers and music publishers.
Dottir has advised Kodit.io (Homerun Technologies), a property technology service, in all of their investment rounds.
Kodit.io uses algorithms and automation to build and maintain a housing data platform and services designed to make the process of buying and selling property significantly easier.
Dottir advised Ficolo in its acquisition of a cloud delivery center from Fujitsu Finland and in negotiations of the co-operation agreement.
With the investment Ficolo will become one of the leading actors in the Finnish data center market.
Farmer’s Social Insurance Institution (Mela)
Dottir advises the Farmer’s Social Insurance Institution (Mela) in IT outsourcing and other technology and privacy related matters.
Mela handles the statutory earnings-related pension and occupational accident insurance of Finnish farmers, and of those receiving a grant or a scholarship from Finland. The number of Mela's customers in working life is around 62,000 and the number of people receiving MYEL pension is around 119,000
Dottir has advised Woodly in several financing rounds.
Award-winning Woodly is an environmentally friendly Finnish technology company and the developer of a wood-based, yet transparent packaging material. Woodly is a carbon-neutral material with cellulose from sustainably managed forests that can be used to substitute plastics.
Dottir represents Bring Express in a contract litigation relating to a director agreement.
Bring is a part of Posten Norge Group and aimed at the corporate market in the Nordic region. Bring ships small and large goods in the Nordic region and the rest of the world.
Dottir advised the minority shareholders of Financier Group in its acquisition of Palace and Savoy, the two most iconic restaurants in Finland. The seller and the majority shareholder of Financier Group was NoHo Partners.
Palace has recently awarded a Michelin star, and the legendary restaurant Savoy has been making culinary history for 80 years.
We represented a Finnish software vendor in arbitration proceedings under the FAI rules against a US listed company.
The case concerned termination of a software license agreement and related claims.
Post Control Helsinki
Dottir represented Post Control Helsinki, a high-end post production company, in their complaint before the Market Court against YLE, the national broadcasting company of Finland.
The complaint concerned public procurement of services for digitalisation of YLE’s film collection with a maximum estimated value of EUR 10 million.
Dottir advised Play Ventures, a Singapore based venture capital investor, in its investment in Redhill Games, a rapidly growing game studio.
Play Ventures is a venture investor which invests in early-stage companies in gaming and gaming services around the world.
Dottir has advised Sulapac, a Finnish company listed among the top-100 hottest start-ups in Europe by Wired Magazine, in all of their financing rounds.
Sulapac has raised funding from several investors, including the French luxury house Chanel. Since starting its journey in 2016, Sulapac has won many international awards with its products that combine luxury, sustainability and unlimited design possibilities.
Dottir advised Flow Festival and its founders in an investment where Superstruct Entertainment, the live entertainment platform backed by Providence Equity Partners, invested in Flow Festival.
Flow Festival is an internationally renowned urban music and arts festival in Helsinki, Finland. In August 2018, the festival’s 15th edition brought a record 84,000 attendees to the urban landscape of Suvilahti, Helsinki, to enjoy a wide variety of first class international and domestic artists.
Dottir advised Tomorrow Tech in creating a digital registry for housing company shares. In Finland holding shares in a housing company is a common form of real estate and home ownership. Owning an apartment in Finland usually means owning shares in a housing company.
The new digital registry is utilizes blockchain technology and it is operated in collaboration with Danske Bank, Nordea, Aktia, S-Pankki and OP-Group.
Dottir advised Wolt Enterprises and its founders in the acquisition of the food delivery business of Dailyvery Sp.z.oo in Poland. Simultaneously the founders and investors of Dailyvery Sp.z.oo invested in Wolt Enterprises.
Wolt Enterprises has an Apple-awarded app, and a website a for discovering and getting food in the city – home-delivered, takeaway or eat in. Wolt partners with more than 3,500 restaurants and 10,000 couriers around Europe.
Sanoma Media Finland
Dottir advised Sanoma Media Finland in its acquisition of the stake in Finnish music publisher and management company Kaiku Entertainment.
The acquisition was one of the most influential transactions in the media and music business in Finland during 2018 as a big media group expanding to artist management business. With operations in Finland, the Netherlands, Poland, Belgium and Sweden, Sanoma Group net sales totalled EUR 1,3 billion and the Group employed more than 4400 professionals in 2018.
Estée Lauder Companies Europe
Cibes Lift Group AB
Dottir advised Cibes Lift Group AB in its acquisition of Amslift.
The acquisition was one of the important transactions among privately owned lifts sold in more than 50 countries worldwide with personnel of 400 employees and net sales about EUR 100 million. Amslift is the largest privately-owned lift company in Finland.
Dottir advised Northzone, a leading Nordic venture capital firm, in their Series A investment in HappyOrNot.
HappyOrNot are the providers of the award-winning instant customer and employee satisfaction reporting service.
The Arbitration Institute of the Finland Chamber of Commerce
Dottir conducted a legal design project together with The Arbitration Institute of the Finland Chamber of Commerce (FAI), creating a digital flowchart of the arbitration process under the FAI rules.
The process flowchart was created as a result of user workshops and presented at the HIAD 2018 conference.
Dottir advised Blok Enterprises, the first Finnish digital real estate agency, in their financing round in which Lifeline Ventures and the leading Nordic media company Bonnier invested in the company.
Blok is a new real estate concept that combines the best parts of a good broker and selling real estate on your own.
Dottir advised Ficolo in its acquisition of the data center business of Cybercom in Tampere, Finland. Dottir’s work included both the drafting and negotiation of the Business Transfer Agreement as well as the drafting and negotiation of the updated IT Service Agreements.
Ficolo is one of the leading data center companies in Finland, specialized in Cloud Delivery services.
Dottir assisted Industryhack and Pivot5 in their merger. The merged leading Finnish innovation companies offer a platform, services, tools and expertise to help large companies and public organisations solve their challenges with the power of ecosystems and open innovation.
The merged companies’ offering includes open innovation strategy, innovation challenges, long-term open innovation programs, and corporate startup lab.