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Live funding
Ki 13 €4.3M Seed round led by HICO Investment Group Conveo €43.2M Series A round led by DST Global Partners iPronics €108M Series B round led by Maverick Silicon iPremom €15M Seed round led by Amadeus Capital Partners Pharosyn €2.6M Seed round led by Moonfire Ventures HyImpulse €50M Series A round led by JOIN Capital Instarc €1.3M Seed round led by HFO Investments Holifya €1.6M Seed round led by Next Age (CDP Venture Capital) Full Health Medical €3M Seed round led by Elkstone Captive Devices €870K funding round led by Oxford Metrics (Vicon) PLD Space €108M Series C round led by Mitsubishi Electric Corporation Orchestra €2.9M Seed round led by Differential Ventures INLEAP Photonics €20M Seed round led by UVC Partners xorlab €5M Series A round led by Spicehaus Partners Scan.com €77.5M Series C round led by Noteus Partners Nexeon €116.7M Growth round led by National Wealth Fund S-Transistors €2.6M Pre-seed round led by Lifeline Ventures Motion €1.7M Pre-seed round led by Extantia Capital Breedr €23.2M Series B round led by Partech Embedd €2.3M Pre-seed round led by Seedcamp
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Ugly Duckling Ventures

Ugly Duckling Ventures

● Actively deploying Copenhagen, Denmark · Founded 2021

Investment thesis

Ugly Duckling Ventures is a Copenhagen fund investing at pre-seed and early seed in Nordic medtech, resilience tech and business software. It targets post-revenue B2B companies that other investors pass over because they look rough, highly technical or far from the usual networks, writing around €1 million initially and reserving half the fund for follow-on rounds. The team is made up of former founders and operators.

Past investments

Company Round Date Round size
Palette Copenhagen, Denmark Pre-seed Aug 2026 €3M
Cytely Stockholm, Sweden - Oct 2025 €3M

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