Butterfly Ventures
Kasarmintie 13 A, Oulu, Northern Ostrobothnia, 90130, Finland
Overview
Butterfly Ventures is a seed-stage focused VC in the Nordics, investing in deep tech, hardware, and hardware interfacing software. The company prefers to get involved with companies early on; 80% of Butterfly Ventures portfolio companies don't have any revenue at the time of their entry. Butterfly Ventures was founded in 2012 and ever since then it has been one of the most active early stage VCs in the region. The company has offices in Oulu, Helsinki and Stockholm.
- Total investments
- 24
- Lead investments
- 7
- Investments · 12mo
- 5
- Active investors
- 6
Sector focus
- Banking
- Finance
- Venture Capital
Investment portfolio
- Birdsview
Participated · Equity · Aug 2026
Birdsview develops a platform that combines ground-penetrating radar, LiDAR and proprietary algorithms to turn sensor data into 3D models showing rebar position, thickness, cracks, voids and corrosion without drilling. The company launched its first concrete product in January 2025 and after beginning direct pre-sales in March 2026 customers in nine countries adopted the system within weeks. Birdsview started by building sensors to detect rot in wooden utility poles and expanded the approach to concrete; it was founded by Olav Skogen and Simen Husøy while students in Trondheim. The company operates from Bergen and Oslo and has 14 employees. Since launch it has scanned over 100 structures and counts clients such as Vinci, Bouygues Construction, EllisDon, Sweco, Asplan Viak and Rambøll. Customer examples include a Bergen contractor that used Birdsview to map rebar under a basement, saving about 200,000 NOK and two weeks of work.
- CeLLife Technologies
Participated · Seed · May 2026
CeLLife Technologies develops a battery quality and health intelligence platform underpinned by its patented Electrical Fingerprint (EFP™) technology, which captures rich battery measurement data in seconds and converts it into diagnostics, traceability, and decision support. The technology is chemistry-agnostic and works across NMC, LFP, NCA, solid-state, and sodium-ion cells, and is protected by multiple granted patents. The company has already secured paying customers across three market segments and signed a major commercial contract with a leading European recycling company. CeLLife was named among the Top 10 winners of the European Startup Prize for Mobility in 2025. Following the close of a €4 million post-seed round, the company plans to accelerate commercial rollout and scale operations across Europe and North America, focusing on recycling, module and pack assembly quality control, and BESS condition monitoring. Its platform strategy is positioned to address growing demand for battery traceability and lifecycle intelligence under the EU Battery Regulation, including upcoming battery passport requirements.
- Zenniz
Participated · Equity · Feb 2026
Headquartered in Helsinki, Zenniz builds integrated hardware-and-software solutions that turn standard tennis courts into data-rich, smart playing environments. Its second-generation system, launched in 2025, combines certified electronic line calling, multi-camera live video, AI-powered performance analytics, and interactive training features aimed at both competitive and recreational players. The company’s platform is already installed on courts across four continents and in more than 25 countries, and it recently became one of the first vendors certified by the International Tennis Federation for club-level electronic line calling. After a record-breaking 2025 in revenue and strategic partnerships—including collaborations with Tennis Warehouse and Mouratoglou Academy—Zenniz is gearing up for rapid scale. The newly raised capital will be used to ramp up manufacturing, accelerate feature development, and deepen distribution in North America via a freshly established U.S. headquarters in Atlanta. Management positions Zenniz as essential infrastructure for the modernization of racket sports and expects the expanded footprint to drive continued growth in both sales and user adoption.
- Polar Light Technologies
Participated · Equity · Jan 2026
Polar Light Technologies AB is a Swedish semiconductor innovator focused on next-generation MicroLED displays built on a proprietary pyramidal structure that enables full RGB emission on a single epi-wafer without etching. This architecture delivers exceptional brightness and energy efficiency and serves as a foundation for sub-MicroLED innovations. In May 2025 the company unveiled its first MicroLED display prototype and later showcased updated versions at Display Week and MicroLED Connect. The firm’s initial commercial targets are small, purpose-built head-up displays, followed by applications in smart glasses and wearables. Headquartered in Linköping, Sweden, Polar Light positions itself as a leader in making MicroLED displays easier to produce and integrate. The business has now raised €13 million in total funding, including the €5 million+ round announced in January 2026, which provides runway for its upcoming product launches.
- DREV
Led · Seed · Nov 2025
Founded in 2023 in Gothenburg, Sweden, DREV builds the Vault line of mobile and stationary contamination-control units for lithium-ion battery gigafactories and recycling plants. The patented technology captures microscopic metal particles, improving air quality, reducing surface slipperiness, and enabling on-site recovery of critical metals such as nickel, cobalt, lithium, and copper. By turning a hazardous waste stream into a new resource, the solution helps manufacturers meet tightening EU Battery Regulation and Critical Raw Materials Act requirements while boosting operational efficiency and worker safety. The company has already validated its system at a world-leading gigafactory. Fresh capital will fund engineering hires, expansion of pre-series test fleets, commercial deployments across Europe and North America, and the build-out of in-house manufacturing in Gothenburg. Although the firm has not disclosed revenue or user metrics, it positions itself within the fast-growing gigafactory ecosystem and targets hundreds of upcoming facilities. Co-founders Arelys Sosa and Thomas Tingelöf bring substantial experience from Panasonic Energy, Tesla Gigafactory 1, and PowerCell Sweden.