The Venture Codex

Participated · Series C · Feb 2026

Stockholm-based Lassie combines insurance expertise with engineering automation to create a pet insurance product that emphasizes preventive care. Through its mobile app, the company supplies educational content, activity-based rewards, and localized insurance policies, encouraging owners to keep pets healthy while reducing future claims. AI supports rapid, end-to-end claims processing—German customers, for example, can photograph a vet bill and receive reimbursement for simple treatments within minutes. Lassie is also building an ecosystem around pet wellness, partnering with Lidl to embed insurance in the Lidl Plus rewards program and with Tractive to link GPS-tracked activity data to incentives. Fresh capital will fund additional AI development, deeper automation, and entry into more of Europe’s major pet-insurance markets. The company’s prevention-centric model seeks to lower costs for both owners and insurers while capturing a growing share of Europe’s expanding pet-care spend.

Participated · Series A · Feb 2022

Annotell provides analytics and ground-truth production tools that assess the performance and data quality of autonomous systems’ perception stacks. Its platform helps customers understand system limitations and guide improvements, with an emphasis on predictability and safety rather than perfection. The company’s tooling is used to measure and raise the quality of data that trains machine-learning models for driving tasks. Annotell works with major carmakers, key suppliers, and pure-play self-driving companies as customers. The founders, Daniel Langkilde (co-founder and CEO) and Oscar Petersson, are physicists who specialize in deep learning. The company says the new funding will be used to expand the business and further develop its testing capabilities. Annotell is a Gothenburg, Sweden–based startup that provides an analytics and annotation platform to help carmakers ensure the performance of self-driving cars’ perception systems. The platform focuses on collecting, annotating and quality-assuring data so perception systems can ‘see and understand’ their surroundings. Launched in 2018, the company says it has signed deals with Volvo Group and Zenseact and has additional mobility partners lined up. The Series A funding is intended to further develop the analytics and annotation platform and address the complexity and cost of assuring perception systems. Annotell recently hired Emil Dautovic as its first VP of Sales to support commercial growth. Financially, the company raised €5.8M in the Series A and previously secured €1.1M in seed funding, bringing total proceeds to just south of €7M.

Participated · Series D · Dec 2021

Voi Technology AB operates a shared e-scooter and e-bike service with over 110,000 vehicles across 12 countries. The company, founded in 2018, focuses on data-driven automation and cost-effective operations to improve vehicle gross profit margins. In 2024 Voi introduced its seventh-generation e-scooter and third-generation e-bike, aiming to deliver better energy efficiency, durability, and rider experience. Management has cut the central cost base by nearly 50% since mid-2022 and says it has met profitability targets. 2024 is expected to be a record year for rides and revenues, supporting plans to scale the next-generation fleet. Voi emphasizes partnerships with cities and communities as part of its strategy to integrate micromobility into urban transport networks. Voi operates shared e-scooter and e-bike fleets across Europe, serving consumers and city partners. In 2023 the company logged over 68 million rides and reported revenue growth of nearly 50% over the past two years; gross profit has more than doubled while overhead costs were reduced by almost 50%. Voi achieved its first quarter of positive EBIT at the group level and is focused on reaching full profitability and positive cash flow. With new equity and debt financing, Voi plans to scale its fleet, deploying 3rd-generation e-bikes and 7th-generation e-scooters in spring 2024 and expanding in existing and new markets. The company also intends to intensify sustainability efforts, improve environmental impact, work with cities to increase sustainable mobility options, and maintain safety and leading workplace practices. The conversion of prior convertible notes and the new financing are presented as strengthening Voi's financial position for further growth. Voi operates a shared micromobility platform providing e-scooters and e-bikes across more than 70 cities in 12 countries. The company partners with cities to deliver low-carbon, first- and last-mile transport and has a stated ambition to remove 1 billion car trips from Europe’s roads by 2030. Voi plans to expand into new European markets, add more e-bikes to its fleet, and launch the Voiager 5 e-scooter model in the spring as part of a Vision Zero safety commitment. It intends to have fully electric operational vehicles by early 2023 and to source only European-produced battery cells by 2023 to cut carbon footprint. Voi reported 140% year-over-year revenue growth in 2021, reached 90M+ rides since inception, and claims more than six million users. The company became operationally profitable company-wide in summer 2020 and employs about 1,000 people. Voi operates a micromobility platform offering e-scooters and e-bikes across Europe. It is now the largest micromobility operator in Europe by rides and scooter licenses, serving about 2 million rides per week and holding more than 40% of licensed markets. The company has introduced a computer-vision solution intended to keep riders off pavements and is focusing on parking and safety innovations. The new funding is earmarked for further R&D in e-scooter parking and safety solutions and to deploy more of Voi’s e-bike fleet. CEO and co-founder Fredrik Hjelm said the company will continue to advocate for changes to create more liveable cities. Financially, Voi has raised just over $400 million to date. Voi operates shared electric scooters and e-bikes, providing micromobility services across major European cities. The company focuses on hardware and software integration, safety improvements and fleet efficiency, including swappable batteries and renewable-energy operations. Voi plans to expand its fleet and geographic footprint, roll out its Voiager 4 scooter to more cities, and invest in platform and safety features such as helmet technology, improved lights, location accuracy, brakes, signalling and suspension. The business says it wins over two-thirds of city license tenders and leads in fleet efficiency across markets including Berlin, Oslo and Stockholm, with recent city wins in Birmingham, Liverpool, Bern and Cambridge. Financially, Voi raised more than €132 million in a Series C and secured the industry’s first scaled asset-backed debt facility to finance scooter and e-bike investment in 2021; total funding over the last four months is over €157 million.

Participated · Series D · Dec 2021

Founded in 2018 by Fredrik Hjelm, Adam Jafer, Douglas Stark and Filip Lindvall, Voi Technology runs a shared e-scooter and e-bike service aimed at replacing short urban car trips. Its platform integrates with public transit to reduce congestion and pollution, supporting cities’ net-zero goals. The company has focused heavily on improving unit economics, achieving a significant increase in vehicle gross profit margin after cutting central costs by nearly 50% since mid-2022 and deploying seventh-generation e-scooters and third-generation e-bikes. Voi lost its unicorn status in 2023 but regained a $1 billion valuation in 2024. According to Dealroom, it has raised $491 million to date, including a $25 million mix of equity and debt earlier this year. The latest financing gives the company capital to scale a next-generation fleet in 2025, refinance existing debt and fund general corporate needs.

Led · Equity · Oct 2021

Founded in 2014 by Fredrik Skantze and Per Made, Funnel offers a cloud marketing intelligence platform that lets organizations collect, structure, visualize, and analyze data from more than 600 marketing sources. Customers range from global brands such as Adidas and Sony to leading agencies like Publicis and Havas. The company is transitioning to an AI-first architecture, adding agentic measurement tools and recently rolling out Data Chat, a conversational analytics feature enabling natural-language queries. With its scalable data infrastructure, Funnel aims to deepen analytics capabilities and expand internationally. Management is also focused on boosting operational efficiency and edging toward profitability. The firm’s financial strategy now includes an $80 million debt facility to fund development, global expansion, and AI initiatives while refinancing earlier borrowings.