As with the first quarter of the year, also the second quarter was active for RFA with three new investments and one follow-on rounds. Several portfolio companies also succeeded in their fundraising.
In Q2 three new investments were made.
Mö became the first foodtech company in ReadyFireAim's portfolio. Mö is the first oat dairy in Finland, producing oat-based yogurt- and curd-like snacks. The investment was made in a syndicate with foodtech investor Stefan Lindberg, creator of pulled oats Reetta Kivelä, Petri Heino from Heinon Tukku, board professional Mika Sutinen, and business angel of the year in 2019 Ali Omar. (Read more in Finnish here.)
RFA participated in the funding round of Smoothly, led by Gorilla Capital. Smoothly is a digital delegation service, enabling entrepreneurs to focus more on billable work.
Third new investment of the quarter was an investment into Plain Complex, alongside Ali Omar and Henry Nilert from Founders Edge and angel investor Pekka Ylitalo. Plain Complex develops Shiftlify, an AI-based solution for work shift scheduling in healthcare organizations. (Read more about the round and the company here.)
In addition, a follow-on investment was made into Innomost.
ContractZen raised one million investment round, led by the venture capital firm Nordic Eye. (Read more here.)
Innomost secured five million funding in a round led by Metsä Spring and Innovestor. The funding allows the company to build a pilot plant to start producing sustainable raw materials derived from the sidestreams of forestry industry to replace crude oil and palm oil based raw materials in e.g. the cosmetics industry. (Read more here.)
Witview was accepted in the Startup Wiseguys accelerator. (Read more here.)