Fundraising Fox
Helsinki · Pre-Seed–Series A · 8 people tracked
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Investment thesis
Maki.vc backs deep tech and technology startups in the Nordic region, emphasizing early conviction by writing a founder's first check and continuing to support through subsequent rounds. The firm presents itself as a hands-on, team-oriented partner rather than passive capital, providing operational assistance across finance, market research, recruiting, strategy, and network introductions. It favors bold, long-term visions such as quantum computing and other frontier technologies built from Europe.
Source: firm website, verified Aug 3, 2026.
Team · 8 people
from the firm's website & public directories
Founder mafia
2 people who came through Maki.vc went on to found or lead other companies.
What they invest in
from 22 of 37 portfolio companiesAI & Machine Learning ×10SaaS ×8Deep Tech ×7Advanced Manufacturing ×4Enterprise Software ×4Medical Devices ×4Cleantech ×3Climate Tech ×3
HQs:Finland×7France×2United Kingdom×2Norway×2Denmark×1European Union×1
Investments · 37 tracked
founders shown can be your intro pathBy year:2026 · 22025 · 42024 · 12023 · 12022 · 82021 · 42020 · 32019 · 12018 · 125 dated
Deepdots builds a product that helps companies understand their customers and prioritize what matters most.
AI & Machine LearningEnterprise SoftwareMarketing TechSaaSCopenhagen, DK
FranFrancisco Arias(Founder)inNima Vali Rajabi(Founder)inVictoria Artiushkina(Founder)in
Co-investorsDawn Capital
QMill develops quantum algorithms for the noisy intermediate-scale quantum (NISQ) era, offering proof-of-concept algorithms that run on simulators or existing NISQ computers.
AI & Machine LearningDeep TechQuantum ComputingHelsinki, FI
Ville Kotovirta(Founder)inHannu Kauppinen(Founder)inMikko Möttönen(Founder)Toni Annala(Founder)
Sono (Closio Oy) builds AI-powered voice phone assistants that automate high-volume customer-service and sales calls, handling tasks such as booking appointments, routing calls, answering FAQs, and running satisfaction surveys.
AI & Machine LearningEnterprise SoftwareSaaSSales TechHelsinki, FI
Co-investorsFailup VenturesWave Ventures
Baseimmune develops active immunotherapies using computational design and protein engineering to create custom antigens aimed at chronic diseases.
BiotechDeep TechHealthtechLondon, GB
Joshua Blight(Founder)inPhillip Kemlo(Founder)inAriane C Gomes(Founder)
Co-investorsHoxton VenturesIQ CapitalCreator FundBeast VenturesMerck Global Health Innovation FundMSD Global Health Innovation Fund+2 more
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CarbonCloud calculates product carbon footprints for food companies using an AI engine that derives emissions from a company's bill of materials.
AI & Machine LearningCleantechClimate TechFoodTechSaaS
David Bryngelsson(Founder)in
Co-investorsCusp CapitalPeakTS Ventures
CardioSignal develops digital cardiac biomarkers using motion sensors in smartphones to detect heart disease without additional devices, targeting patients and primary care systems globally.
AI & Machine LearningDigital HealthHealthtechMedical DevicesTurku, FI
Tuomas Valtonen(COO, Co-founder)Juuso Blomster(Founder, CEO)inIlkka Korhonen(Chief Technology Officer)inKristiina Santalahti(Research & Quality Director)in
Co-investorsDigiTx Partners LLCInnovestor VenturesSandwaterStart Capital
Riff builds AI agents that automate the operational work behind manufacturing orders — quoting, procurement, planning, order confirmation, invoice matching, and flagging at-risk deliveries — running on top of existing ERP systems like Infor, SAP, Oracle, and Microsoft.
Advanced ManufacturingAI & Machine LearningLogistics & Supply ChainOslo, NO
Trygve Karper(CEO & Co-founder)inMartin Røed(CTO & Co-founder)inViral Shah(CPM & Co-founder)in
Co-investorsCapitalOvenNorthzoneSkyfall Ventures
EverDye develops biobased dyeing pigments and a low-heat, low-energy dyeing process aimed at reducing the carbon emissions, energy use, and toxic chemicals of textile dyeing.
Advanced ManufacturingCircular EconomyCleantechClimate TechNew MaterialsParis, FR
Ilan Palacci(Founding CEO)inAmira Erokh(CTO)in
Co-investorsDaphniEntrepreneur First212BpifranceRing Capital
Happeo is an intranet and enterprise search platform that integrates with Google Workspace and Microsoft 365, letting departments build no-code pages while IT retains security governance.
Enterprise SoftwareFuture of WorkSaaS
Co-investorsDN CapitalEndeit CapitalEvli Growth PartnersInkefSmartFinVendep Capital
Lightsonic uses fibre sensing technology combined with existing infrastructure to detect leaks across water utility networks.
CleantechDeep TechIoT
Co-investorsSondo CapitalSprettert
Finnish-Icelandic game developer building Pax Dei, a cloud-native sandbox MMO playable across mobile, PC and console.
Ansu Lonnberg(Founder)Kjartan Emilsson(Founder)Kjartan Pierre Emilsson(Founder)Thor Gunnarsson(Founder)
Co-investorsAndreessen HorowitzCrowberry CapitalPlay VenturesSisu Game Ventures
NEL develops software-driven solutions for motion analysis and diagnostics to support epilepsy patients and their physicians.
AI & Machine LearningDigital HealthMedical Devices
Co-investorsCatalyze CapitalHadean VenturesSHS Capital
OGOship is a third-party logistics (3PL) provider that offers fulfillment and post-purchase services for eCommerce brands, including branded tracking, returns management, exchanges, store credit, and AI-powered customer support across a network of European warehouses.
E-commerceLogistics & Supply ChainSaaSHelsinki, FI
Timo Toivonen(CEO and Co-Founder)in
Co-investorsInnovestor VenturesBuran Venture CapitalFlashpoint Venture CapitalTrind Ventures
Onego Bio produces Bioalbumen®, a fermentation-derived ovalbumin protein powder that replicates egg white functionality for large-scale food manufacturing without animal agriculture.
AgTechBiotechClimate TechFoodTechHelsinki, FI
Maija Itkonen(Founder)inChris Landowski(CTO & Co-Founder)inPaavo Salminen(CCO)inTom Ferguson(CFO)inChristopher Landowski(Founder)Maija Itkonen Christopher Landowski(Founder)
Co-investorsAgronomicsTesi (Finnish Industry Investment Ltd)
IXI (Pixie Ray) develops adaptive eyewear with autofocusing lenses that track the wearer's eye movements to adjust focus for near or far vision.
Deep TechHardwareMedical Devices
Klaus Melakari(Founder)Niko Eiden(Founder)Rebecca Xu(Founder)Ville Miettinen(Founder)
Co-investorsbyFoundersHeartcore CapitalAmazon Alexa FundBragiel BrothersEurazeoFirst Fellow Partners+3 more
QDI Systems develops quantum dot-based imaging products for medical X-ray, mammography, and specialized imaging applications.
Deep TechHardwareMedical DevicesNew MaterialsSemiconductorsGroningen, NL
Artem Shulga(Founder)in
Co-investorsGolden Egg Check Capital B.VNV NOMEICNom
Quanscient provides a cloud-based multiphysics simulation platform designed for engineers in R&D to accelerate complex engineering simulations with reduced runtimes and improved design exploration across medical devices, consumer electronics, automotive, and space applications.
Advanced ManufacturingAI & Machine LearningCloud ComputingDeep TechQuantum ComputingSaaSTampere, FI
Juha Riippi(CEO, Co-Founder)Dr. Alexandre Halbach(CTO, Co-Founder)Asser Lähdemäki(Chief Product Officer, Co-Founder)inDr. Valtteri Lahtinen(Chief Scientist, Co-Founder)Dr. Tweedie(UK Director, Co-Founder)
Co-investorsB&C Innovation InvestmentsCrowberry CapitalQAI Ventures55 NorthFirst Fellow Partners
Riff is a voice communication tool that lets team members talk to each other on demand, with controls over individual availability.
Enterprise SoftwareFuture of WorkSaaS
Co-investorsBalderton CapitalGlobal Founders CapitalIllusianNorthzoneSkyfall VenturesSondo Capital
Riff builds AI agents that automate the operational work behind manufacturing orders — including quoting, procurement, planning, logistics, invoice matching, and supplier follow-up — running on top of existing ERP systems like SAP, Oracle, Infor, and Microsoft.
Advanced ManufacturingAI & Machine LearningLogistics & Supply ChainBend, NO
Bobby Evers(Manager of Riff LLC)Paul Evers(Manager of Riff LLC)Nate Armbrust(Manager of Riff LLC)
Co-investorsNorthzoneSkyfall VenturesSondo CapitalGlobal Founders CapitalIllusianVTF Capital
TWICE is an operating-system-style platform for circular commerce, giving businesses one system to run rental, resale, and hybrid operations with per-unit inventory tracking, catalog and pricing management, multi-channel sales, order processing, and customer management.
Circular EconomyE-commerceRetail TechSaaS
TuomoToomasJoel
Co-investorsAnthemis VentureMission One CapitalSpecialist VCTera VenturesTesi (Finnish Industry Investment Ltd)
Customer support automation platform.
FintechHelsinki, FI
Reetu Kainulainen(Founder)inJaakko Pasanen(Founder)in
Co-investorsFelicis VenturesOMERS VenturesTechFoundersTechstarsHV Capital
Valpas provides bed bug detection and prevention solutions for hotels, focusing on safety and sustainability in guest accommodations.
HealthtechImpact & Social GoodPropTechParis, FR
Martim
Co-investorsGlobal BrainRockaway VenturesActivumIcebreakerTesi (Finnish Industry Investment Ltd)
Co-investorsDigital Currency GroupHTX Ventures (ex Huobi Ventures)LucidBlue Ventures
Yaak develops a Spatial Intelligence Kit that can be paired with physical assets in construction and material handling to enable autonomous operation through AI learning from observed tasks.
AI & Machine LearningConstruction TechDeep TechRobotics
Co-investorsbyFoundersForward Venture CapitalPlanet A VenturesFirst Fellow PartnersInvestitionsbank Berlin
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
AI-Native Auto RetailCreating egg whites without chickensDisiorIntroducing adaptive eyewearJennisK Line EuropeKYC Intelligence SystemMembrane FinanceMetaktikOn-premises quantum computersQuantum computing practical & accessibleRevela HealthVolare
Exits · 1
1 acquisitionsUltimate.aiacq. by Zendesk New York
Portfolio news
latest coverage across their companiesQuanscient · finsmes.com · May 26, 2026
Riff · riff.ai · Oct 27, 2025
deepdots · eu-startups.com · Jun 2, 2025
Lightsonic · finsmes.com · May 7, 2025
Frequently asked questions
- How many investments has Maki.vc made?
- Maki.vc has 37 tracked investments, 1 of which have exited, including 6 dated in the last 24 months.
- What stage does Maki.vc invest at?
- Maki.vc invests at the Pre-Seed, Seed, Series A stages.
- What is Maki.vc's typical check size?
- Maki.vc typically writes checks of $324K – $3.2M.
- What sectors does Maki.vc focus on?
- Maki.vc focuses on AI & Machine Learning, Deep Tech, Quantum Computing, Sector Agnostic.
- Where is Maki.vc located?
- Maki.vc is headquartered in Helsinki, FI.
- Does Maki.vc lead rounds?
- Yes, Maki.vc leads investment rounds.
Media · Podcasts & interviews
featuring the teamMaki.vc:n Sijoitusjohtaja Pauliina Martikainen | Sijoittaminen ja Femtech #122
Futucast · Pauliina Martikainen
Maki.vc:n Partner Ilkka Kivimäki | Teknologia ja pääoma #110
Futucast · Ilkka Kivimäki
Images
Co-investors · 14
Northzone is a technology-focused venture capital firm investing across AI and deep tech on both sides of the Atlantic, backing companies from early stage through growth.
Crowberry Capital is a Nordic venture capital firm with offices in Reykjavík, Copenhagen and Stockholm that invests in seed and early-stage startups across the Nordic region.
Anthemis is an investment firm focused on the digital economy, backing companies that reshape financial services and the broader economy for wider benefit.
Amazon Web Services (AWS) is Amazon's Seattle-based cloud computing division, offering more than 240 cloud and AI services to customers ranging from startups to large enterprises. Its infrastructure spans over 120 availability zones across dozens of geographic regions worldwide. It is a technology provider rather than an investment firm.
Sprettert is an early-stage investor group of five operators who back Norwegian founders at the pre-seed stage with capital, guidance, and network access.
Everywhere Ventures is an early-stage venture firm that writes pre-seed checks and is backed by a community of founder and operator LPs.
Atomico is an international venture capital firm that invests in growth-stage technology companies across multiple geographies. The firm focuses on scaling disruptive technology businesses globally.
Plug and Play is an innovation platform that connects corporations, governments, startups, investors, and universities, running accelerator programs and venture investing across more than 25 vertical industries.
EQT Ventures is the venture capital arm within the EQT platform, backing early-stage European founders building what it calls Generation-Defining Companies.
Foobar is the investment company of Icelandic entrepreneur David Helgason that focuses on supporting startups and investing in technology to accelerate global decarbonization and sustainability efforts.
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World Fund is a European climate tech venture capital firm financing the transition to a decarbonised global economy, investing only in scalable technologies with significant emissions-reduction potential.
▶2 more co-investors
Firms observed investing alongside Maki.vc, from public investor directories. Shared companies are the overlap with Maki.vc's recorded portfolio.
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