Fundraising Fox
Oulu · Seed · 9 people tracked
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Investment thesis
Butterfly Ventures focuses on seed-stage deep tech, hardware, and hardware-interfacing software companies with social or environmental impact, primarily in Finland and Sweden but also across the Nordics and Baltics. The firm typically enters early, when most portfolio companies have no revenue yet, and favors a co-operative, hands-on approach in which founders receive support from all partners. It always makes its first investment at seed but reserves significant capacity for follow-on rounds. Butterfly emphasizes societal impact and is noted as an early carbon-neutral European VC.
Source: firm website, verified Sep 26, 2026.
Team · 9 people
from the firm's website & curated & public directories
What they invest in
from 67 of 82 portfolio companiesDeep Tech ×24Hardware ×20AI & Machine Learning ×16Cleantech ×15Advanced Manufacturing ×14SaaS ×14IoT ×10Medical Devices ×8
HQs:Finland×34Sweden×13United States×5United Kingdom×3Denmark×1Netherlands×1
Who they back
founder profiles across 23 portfolio companiesFounding team size:solo founder×92 founders×53 founders×44+ founders×5
Where their founders studiedfrom 20 founders with education data
Lund University ×4University of Oulu ×4Helsingin kauppakorkeakoulu ×2Tampere University of Technology 1965-2018 ×2The Faculty of Engineering at Lund University ×2
What their founders studiedfrom 24 founders with field-of-study data
Engineering ×14Economics ×4Physics ×4Social Sciences ×2
Where their founders worked beforefrom 27 founders with career history
University of Eastern Finland ×4VTT ×4Nokia ×3RISE Research Institutes of Sweden ×3Aalto University ×2Nokia Mobile Phones ×2
8 founders hold a PhD · 2 hold an MBA (of 28 with degree data)
Investments · 82 tracked
founders shown can be your intro pathBy year:2026 · 12025 · 12023 · 32022 · 12017 · 22013 · 19 dated
Taika3D provides design automation software for custom orthotics and prosthetics, enabling manufacturers to rapidly generate complex, individually fitted devices.
Advanced ManufacturingAI & Machine LearningCloud ComputingHealthtechMedical DevicesFinland, FI
Steve(Co-founder)PetjaRaunoTimo(Co-Founder and Head of Technology)Rauno Huttunen(Founder)
Co-investorsNina CapitalNovaCapitalButterfly
01 Ventures is a venture capital firm that invests in and operationally supports early-stage deep tech companies across Europe.
Deep Tech
10Lines manufactures autonomous robots that perform parking lot striping, enabling striping companies to increase productivity with their existing teams.
Construction TechRobotics
Co-investorsCapDecisif ManagementKaristaPerot JainTera VenturesButterfly
3AWater develops a portable multimetal water analysis system (MWAS) that enables rapid detection of trace metals in industrial and environmental water samples using X-ray fluorescence technology.
Advanced ManufacturingAgTechCleantechHardwareIoTKuopio, FI
Tuomo Nissinen(CEO & Co-Founder)inJoakim Riikkonen(CTO, Co-Founder & Board Member)Vesa-Pekka Lehto(Chairman of the board, Co-Founder)inTommi Tiihonen(Technology expert & Co-Founder)in
Adamant Health provides AI-powered disease management tools for Parkinson's disease, enabling data-driven treatment decisions and patient-centric care models.
AI & Machine LearningDigital HealthHealthtechMedical DevicesFinland, FI
Paulus Carpelan(CEO, Co-founder)inSaara Rissanen(CTO & Chief Scientist, Co-founder)in
Co-investorsTesi (Finnish Industry Investment Ltd)Voima Ventures
Ampliconyx designs and manufactures high-performance fiber lasers and gain modules for semiconductor processing, medical devices, LiDAR systems, defense, aerospace, and research applications.
Deep TechHardwareMedical DevicesNew Materials
Atium develops a patent-pending electrochemical technology for selective removal of mercury from water, wastewater, and acids.
CleantechClimate TechDeep TechGöteborg, SE
Björn Wickman(Co-founder)
Co-investorsChalmers Ventures AB
Birdsview develops a handheld concrete scanner that detects rebar with millimetre accuracy without drilling, running analysis on-device in real time.
Construction TechHardwarePropTechBergen, NO
Olav Skogen(CEO and Co-founder)inSimen Husøy(CTO and Co-Founder)inÅsne Ådland-Dale(Head of Strategy and Business Development)in
Co-investorsEviny VenturesFarvatn VenturePlanet 9 CapitalMomentumNordic Makers
Brightplus develops eco-friendly coating solutions for luxury glass packaging, including thermolusters with customizable metallic effects for perfume and beauty brands.
Advanced ManufacturingCircular EconomyCleantechNew MaterialsLapland, FI
Co-investorsCollateral Good
Coolbrook develops electrification technology for industrial decarbonization, enabling fossil fuel replacement in heavy industries including chemicals, steel, cement, and petrochemicals.
Advanced ManufacturingCleantechClimate TechDeep TechEnergyGeleen, NL
Joonas Rauramo(CEO)in
CooliBlade develops advanced thermal management solutions for industries including renewable energy, telecommunications, and EV charging infrastructure.
Advanced ManufacturingCleantechDeep TechEnergyHardwareOulu, FI
Janne Suhonen(Founder)in
Creandum is a venture capital firm whose team is made up of former operators, founders, engineers, and specialists who back startups and their founders.
Sector Agnostic
Staffan Helgesson(Founder)inAlberto Menolascina(Founder)Yusuf Saban(Founder)Erik Olofsson(Founder)Hans Andersson(Founder)Hans Dahlström(Founder)
Co-investorsCalm/Storm VCCrane Venture PartnersGolden Sparrow Ventures, LlcTesi (Finnish Industry Investment Ltd)Vintage Investment PartnersAndreessen Horowitz+9 more
Creoir provides embedded, on-device Voice AI technologies — including automatic speech recognition, text-to-speech, and speech signal enhancement — that operate without cloud connectivity.
AI & Machine LearningDeep TechDefense TechOulu, FI
Antti Lilja(Founder)inJaakko Mattila(Founder)inOskari Ketola(Founder)in
CyberCoach is a cybersecurity application developed by Cult Security designed for broad accessibility.
CybersecurityEdTechEnterprise SoftwareHR TechSaaS
Co-investorsButterfly
Elon Road develops wireless charging infrastructure for electric vehicles, offering both stationary charging stations and dynamic in-motion charging roads along with digital monitoring solutions.
CleantechEnergyHardwareMobility & Transportation
Dan Zethraeus(Founder)inKarin Ebbinghaus(CEO & Co-founder)inAndreas Sörensen(Co-founder)inKim Malmberg Svedmark(CIO & Co-founder)in
Co-investorsBring VenturesLU InnovationButterfly
Embedl provides software and tools for developing and deploying artificial intelligence on edge devices and embedded systems with constrained computational resources.
AI & Machine LearningDeep TechDeveloper ToolsGothenburg, SE
Devdatt(Co-founder, Professor at Chalmers University of Technology)Hans(CEO and Co-founder)
Co-investorsChalmers Ventures ABFairpoint CapitalButterflySpintop Ventures
Fjuul provides a plug-and-play platform that tracks physical activity and converts it into scored metrics (Fjuul points based on MET values) to power engagement, reward, and wellbeing programs.
Digital HealthInsurTechWellness & Fitness
Co-investorsKickstart Innovation
Flinder provides cloud-based finance functions and data analytics services for fast-growth and complex businesses, delivering real-time insight to support business decisions.
Data & InfrastructureEnterprise SoftwareFintechSaaSLondon, GB
Alastair Barlow(Co-founder)inLuke Streeter(Co-founder)in
Co-investorsPeakEviny VenturesFarvatn VentureMomentumNordic Makers
Flow Computing develops the Flow PPU (Parallel Processing Unit), a licensable on-die parallel co-processor architecture that works alongside CPUs to improve parallel throughput and scalability.
Deep TechHardwareSemiconductorsHelsinki, FI
Timo Valtonen(Founder)inMartti Forsell(Founder)Jussi Roivainen(Founder)in
Co-investorsSuperhero Capital8VCButterflyMVP VenturesNeoNew Enterprise Associates (NEA)+5 more
GBuilder provides a cloud-based platform for construction and property developers to manage property-specific documents, perform BIM-based quantity takeoffs for fit-out materials, and handle quality assurance and handover processes.
Construction TechPropTechSaaSOulu, FI
Harri Majala(Founder)in
Co-investorsKorpun Siemen OyVendep CapitalButterfly
Geyser Batteries develops high-power heavy-duty energy storage systems for industrial applications, with a focus on circular economy principles and sustainable electrification.
CleantechEnergyHardwareHelsinki, FI
Co-investorsVoima Ventures
Happy Plant Protein manufactures plant-based protein and carbohydrate ingredients for food manufacturers using a single-step processing technology that converts plant flours into functional ingredients.
Advanced ManufacturingAgTechFoodTechNew Materials
Co-investorsNordic Foodtech VC
Harvard Business Publishing is a not-for-profit affiliate of Harvard Business School that develops and distributes business education content, leadership development solutions, and management thought leadership through publications, digital platforms, and events.
EdTechEnterprise SoftwareMedia & EntertainmentBoston, US
Co-investorsCRV (Charles River Ventures)Gunung Capital
Hintsa provides performance coaching and wellbeing programmes for athletes, business executives, and organisations, using an evidence-based method developed in Formula 1 by Dr.
Future of WorkSports TechWellness & Fitness
Aki Hintsa(Founder)inAnnastiina Hintsain
Co-investors500 GlobalK5 Global
Hypertype is an AI-powered tool that integrates into email workflows to help support and engineering teams quickly respond to tickets with context-aware answers by accessing historical documentation and emails without leaving their inbox.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareSaaSStockholm, SE
Co-investorsLuminar Ventures
Icebreaker is a venture capital firm investing in idea-stage startup teams across the Nordic and Baltic regions.
Sector AgnosticNorth Attleboro, US
Lasse Lehtinen(Co-founder & General Partner)Aleksi Partanen(Co-founder & General Partner)Riku Seppälä(Co-founder & General Partner)Teddie Wardi(Co-founder & Special Advisor)Julio E. Vega(Mr. Vega is the Secretary of the Issuer.)Mark Brehaut(Executive Officer, Director, Promoter)
Co-investorsProdeko VenturesTesi (Finnish Industry Investment Ltd)
Incipientus provides touch-free, in-line sensor solutions for process industries to enable real-time flow visualization and production monitoring.
Advanced ManufacturingCleantechHardwareIoT
Johan Wiklund(CEO, Co-Founder)Reinhardt Kotzé(CTO, Co-Founder)Michal Kotzé(CCO, Co-Founder)
Co-investorsGU Ventures AB
Incipientus develops touch-free, in-line sensor solutions for process industries to monitor and analyze non-Newtonian liquids without invasion.
Advanced ManufacturingCleantechDeep TechHardwareIoTSweden, SE
Johan Wiklund(CEO, co-founder)inReinhardt Kotzé(CTO, co-founder)inMichal Kotzé(CCO, co-founder)in
Intelecy provides a no-code AI solution for industrial applications, partnering with service and technology providers to deliver digital transformation and secure data utilization services.
Advanced ManufacturingAI & Machine LearningCleantechEnterprise SoftwareSaaS
Anna Olsson(Co-founder & COO)Camilla Gjetvik(CEO)Bertil Helseth(Founder)
Co-investorsSkagerak CapitalYara Growth VenturesButterflyInvestinor
Inventure is a generalist venture capital firm investing primarily in Nordic and Baltic companies across deep tech, consumer, healthtech, AI, and B2B SaaS sectors.
AI & Machine LearningBiotechDeep TechSaaSHelsinki, FI
Kyle Salem(Executive Officer)Bill Doyle(Executive Officer, Director)Jonathan Balfour(Executive Officer)Richard Rosene(Executive Officer, Director)
BoardBrad Rummer(Director)Richard Deslauriers(Director)
Co-investorsBalderton CapitalCDP Venture CapitalFELIX CAPITALMetaplanetPassion CapitalStena Sessan+3 more
ioLiving, operating as SmartKitchen, provides digital tools for professional kitchens and food service businesses, including automated self-monitoring, food waste tracking, and task management to support food safety and productivity.
FoodTechIoTSaaSOulu, FI
Matti Verkasalo(CEO)in
IPDX offers a data analytics and predictive modelling platform that helps organisations interpret operational and behavioural data to support financial planning, forecasting, and cost control.
Data & InfrastructureFintechSaaS
KNL builds Cognitive Networked HF (CNHF) software-defined radio systems that provide long-range, beyond-line-of-sight communications for military and security operations.
Deep TechDefense TechHardwareOulu, FI
A Finnish-language content site providing analysis and coverage of the FIFA Club World Cup 2023, including match strategies, tactics, and player performances.
Media & EntertainmentSports Tech
AsthmaTuner provides digital guidance and support for people living with asthma beyond clinic visits, offering consistent information and management tools accessible outside scheduled appointments.
Digital HealthHealthtechMedical Devices
Björn Nordlund(Research nurse)Henrik Ljungberg(Pediatric pulmonologist)in
Mitta is a Finnish measurement and surveying company that recently acquired eSite, a firm specializing in advanced 3D reality capture and modeling of built environments for industrial facilities, factories, and construction sites. eSite offers a SaaS product used by large industrial clients.
Construction TechDeep TechSaaS
Monidor develops easy-to-use health technology solutions to support nurses and improve patient safety.
Digital HealthEnterprise SoftwareHealthtechMedical DevicesFinland, FI
Mikko Savola(CEO)inAntti Puolitaival(Chief Medical Officer)in
BoardJukka Kettunen(Chairman of the board)
Co-investorsInnovestor VenturesInvesdorKorpun Siemen OyVoima VenturesButterflyTesi (Finnish Industry Investment Ltd)
Naava provides indoor greenery for workplaces, including green walls, potted plants, moss walls, and custom planters, along with professional green design, installation, and maintenance offered as a monthly service.
HardwareIoTWellness & Fitness
Co-investorsGuida Invest OyKorpun Siemen Oy
NordAmps develops semiconductor technology derived from advanced research at Lunds University, bringing previously unreachable semiconductor solutions to market.
Deep TechHardwareSemiconductorsLund, SE
Jan Andersson(CEO)Sven Mattisson
Co-investorsLU Innovation
Norsepower develops wind-assisted propulsion systems for maritime vessels to reduce fuel consumption and emissions.
CleantechEnergyFinland, FI
Heikki Pöntynen(CEO)inJukka KuuskoskiinJarkko Väinämö(COO)in
Co-investorsClimate InvestmentLifeline VenturesVNT ManagementButterflyTesi (Finnish Industry Investment Ltd)
Om Malik is a writer, photographer, and venture investor based in San Francisco with three decades of experience in Silicon Valley as a journalist, entrepreneur, and VC.
Media & EntertainmentSan Francisco, US
Om Malik(Partner Emeritus, True Ventures; Writer; Investor)
Polar Light Technologies develops micro-LED components and epiwafers for augmented reality, heads-up displays, and head-mounted displays using a monolithic RGB LED architecture.
Deep TechHardwareSemiconductorsLinköping, SE
Per-Olof Holtz(Professor, Founder)
Profilence develops software stability and performance analysis tools used by engineers and quality managers to test the reliability of software in smart devices, medical devices, secure smartphones, and automotive infotainment systems.
AI & Machine LearningDeep TechDeveloper ToolsMarketing TechSaaSFinland, FI
Sami Utriainen(Chief Executive Officer)Mika Mikkelä(Chief Operating Officer)
Proximi.io provides an API-first indoor positioning and navigation platform that lets venues generate interactive 2D/3D maps, AI-powered search, and step-by-step wayfinding across floors and buildings.
Developer ToolsIoTSaaS
Annina Koskiola(Founder)in
Reactional develops adaptive music technology for video games that dynamically responds to gameplay, enabling developers to create immersive soundtracks that enhance player engagement and monetization.
GamingMedia & EntertainmentSaaSStockholm, SE
Jesper Nordin(Founder)
Retein develops a patented molecular separation technology, based on bio-inspired stabilized channel proteins, to recover high-purity resources such as clean water and lithium from water sources.
CleantechDeep TechNew MaterialsGothenburg, SE
Dr. Simon Isaksson(Cofounder)Prof. Martin Andersson(Cofounder)
Co-investorsChalmers Ventures ABIndustrifondenNavigare VenturesButterfly
RiACT develops RiFLEX, a hardware-agnostic robot operating system and development platform that lets operators and integrators configure, coordinate, and run industrial and collaborative robots through a single interface without traditional programming.
Advanced ManufacturingDeep TechRoboticsValby, DK
Volker Krueger(Founder)
Co-investorsNavigare VenturesButterfly
Sapotech develops machine vision and AI-based solutions for monitoring and assessing metal production, using image processing, illumination, and deep learning to inspect metallurgical processes across all temperature ranges.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareHardwareIoTOulu, FI
Sequoia Capital is a venture capital firm that invests in and partners with startup founders, publishing content such as podcasts, articles, and videos on company building and technology trends.
Sector Agnostic
Co-investorsCalm/Storm VCDigerati InvestmentsLeonis CapitalMoth FundPhaze VenturesXYZ Venture Capital
SisuSemi provides an atomic-level purification process (ALP) that cleans and orders semiconductor wafer surfaces to remove atomic-scale contaminants and defects, targeting advanced nodes at 3 nm and below.
Deep TechNew MaterialsSemiconductorsTurku, FI
Pasi Pietilä(Founder)in
Co-investorsNordic Science Investments
Helsinki-based mobile game developer building social, long-lifecycle games, operating since 2013.
Ilkka Juopperi(Founder)Markus Halttunen(Founder)Otto Nieminen(Founder)Timo Soininen(Founder)Tommi Vallisto(Founder)
Co-investorsSisu Game VenturesSpintop VenturesCreandumEQT VenturesFirst Fellow Partners
SpinDrive designs, supplies and supports active magnetic bearing (AMB) systems and controller platforms for industrial OEMs whose high-speed machinery depends on bearing performance and lifecycle cost.
Advanced ManufacturingCleantechClimate TechDeep TechHardware
Janne Heikkinen(CEO)inAlexander Smirnov(Founder)inNikita Uzhegov(Founder)inTeemu Sillanpää(CPO)
Co-investorsD11ZInnovestor VenturesRhapsody Venture PartnersSDGxButterflyInnovestor
Sports Tracker is a mobile app for iOS, Android, and Apple Watch that lets users track, explore, and analyze their sports and fitness activities.
ConsumerSports TechWellness & Fitness
Springvest is a Finnish growth investment service that lets private individuals, family offices, and institutional investors invest in unlisted domestic technology companies, either directly through funding rounds or indirectly via Springvest Oyj shares.
Fintech
StealthCase develops glass antenna technology and passive signal repeaters integrated into building materials to enhance mobile connectivity in energy-efficient buildings.
Construction TechDeep TechHardwareIoTNew MaterialsTampere, FI
Stratechery provides independent analysis of technology and media strategy, and technology's impact on society through weekly free articles and subscriber-only daily updates for a global audience of technology executives, investors, and enthusiasts.
AI & Machine LearningMedia & EntertainmentUnited States, US
Ben Thompson
Surgify Halo is a medical technology company that develops innovative bone cutting technology designed to improve safety, precision, and efficacy in surgical procedures.
Deep TechHealthtechMedical Devices
Co-investorsInnovestor VenturesWave VenturesZEISS Ventures
Tamturbo manufactures oil-free compressed air compressors using active magnetic bearing technology for industrial applications.
Advanced ManufacturingCleantechEnergyHardwareTampere, FI
Kimmo Laine(Co-founder)Jaakko Säiläkivi(Co-founder)in
Co-investorsButterflyTesi (Finnish Industry Investment Ltd)
TVM places brand advertising in physical retail and out-of-home environments near the point of purchase, offering high-dwell-time exposure through creative content.
AdTechMarketing Tech
Co-investorsDeBa Ventures
Upright provides an AI-powered platform that quantifies real-world environmental, social, and governance impacts for investment portfolios by analyzing product-level business activities against scientific research.
AI & Machine LearningClimate TechData & InfrastructureFintechImpact & Social GoodHelsinki, FI
Co-investorsPlanet A Ventures
Uute Scientific is a microbiome science company, spun out of research at the University of Helsinki and Tampere University, that develops a nature-derived microbial ingredient intended to reduce the risk of immune-mediated and autoimmune diseases.
BiotechHealthtechImpact & Social GoodNew MaterialsWellness & FitnessHelsinki, FI
Co-investorsButterflyTesi (Finnish Industry Investment Ltd)
Valossa builds multimodal video AI that watches, listens to and reads video content to generate transcripts, captions, metadata, summaries, highlight clips, and brand and content detection, offered through products like Valossa Assistant, Transcribe Pro, and Ad Scout.
AI & Machine LearningDeep TechMedia & EntertainmentSaaS
Mika Rautiainen(Founder & CEO)in
Co-investors01Ventures
Valossa is a University of Oulu spin-off that develops video content recognition technology enabling deep search and discovery of video files through pattern recognition and text analysis.
AI & Machine LearningConsumerData & InfrastructureMedia & EntertainmentOulu, FI
Zenniz makes an end-to-end smart tennis court system combining electronic line calling (audio sensors and cameras), shot analytics, video review, gamified practice drills, and live match streaming tools.
HardwareIoTSports TechHelsinki, FI
Sebastian Laine(Founder)Eero Kuusi(Founder)
Co-investorsSeventure PartnersSuperhero CapitalButterfly
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Anne GloverCadFasterConexbirdCubiDaisyvarhaiskasvatusEvokailabsKyynelNtrainPopit
Portfolio news
latest coverage across their companiesCreoir · eu-startups.com · Sep 4, 2026
Birdsview · finsmes.com · Aug 19, 2026
Cerenion · cerenion.com · May 28, 2026
Brightplus · brightplus.com · Jul 15, 2025
Frequently asked questions
- How many investments has Butterfly Ventures made?
- Butterfly Ventures has 82 tracked investments, including 2 dated in the last 24 months.
- What stage does Butterfly Ventures invest at?
- Butterfly Ventures invests at the Seed stage.
- What is Butterfly Ventures's typical check size?
- Butterfly Ventures typically writes checks of $300K.
- What sectors does Butterfly Ventures focus on?
- Butterfly Ventures focuses on Cleantech, Climate Tech, Deep Tech, Energy, Hardware, Impact & Social Good, Medical Devices.
- Where is Butterfly Ventures located?
- Butterfly Ventures is headquartered in Oulu, FI.
- Does Butterfly Ventures lead rounds?
- Yes, Butterfly Ventures leads investment rounds.
- Who does Butterfly Ventures co-invest with?
- Butterfly Ventures most often shares deals with Chalmers Ventures AB, Innovestor Ventures, Korpun Siemen Oy, among 62 tracked co-investors.
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