# Butterfly Ventures

> Butterfly Ventures is a VC fund in Oulu backing Software and Health Care. See 89 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Oulu, Finland
- Total investments: 89
- Last investment: Feb 2026
- Lead investor: 42%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/butterfly-ventures
- X (Twitter): http://twitter.com/Butterfly_VC
- Website: http://butterfly.vc
- Facebook: http://www.facebook.com/ButterflyVentures

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 sincethen it has been one of the most active early stage VCs in the region. The company has offices in Oulu, Helsinki and Stockholm.

## Contacts

5 contacts available for Butterfly Ventures. Shizune tracks 6 team members at Butterfly Ventures. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/butterfly-ventures?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $275k–$2.1M |
| Pre-Seed | $110k–$4.3M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 14 | 16% |
| Health Care | 14 | 16% |
| Information Technology | 10 | 11% |
| Electronics | 7 | 8% |
| Mobile | 5 | 6% |

130 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 48 | 54% |
| Pre-Seed | 13 | 15% |
| Funding Round | 11 | 12% |
| Venture - Series Unknown | 7 | 8% |
| Series A | 2 | 2% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Finland | 52 | 58% |
| Sweden | 11 | 12% |
| Norway | 2 | 2% |
| Denmark | 1 | 1% |
| Estonia | 1 | 1% |

8 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Anette Nordvall | Venture partner | 1 | https://shizune.co/investors/profile/anette-nordvall |
| Anti Kodar | Venture partner | 2 | https://shizune.co/investors/profile/anti-kodar |
| Juho Risku | Co-Founder, Partner | 3 | https://shizune.co/investors/profile/juho-risku |
| Matti Kanninen | Co-Founder, Managing Partner | 0 | https://shizune.co/investors/profile/matti-kanninen |
| Tanya Marvin-Horowitz | Partner | 10 | https://shizune.co/investors/profile/tanya-marvin-horowitz |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Zenniz | Zenniz is an ITF approved game tracking solution that provides real-time info, such as automated line calling, stroke and serve speeds, shot charts, match statistics and more. Players and coaches at all levels can use Zenniz on and off the court to help improve their game. For tennis clubs, Zenniz is an easy and cost-effective way to upgrade to thenext level. Due to a new, innovative sensor technology, they’ve been able to keep the cost to a minimum, making Zenniz accessible for all clubs, coaches and players. | $6M | Venture - Series Unknown | Feb 20, 2026 |  |
| Polar Light Technologies | Polar Light Technologies focuses on developing the next generation of Nano and micro LED technology. | $5.8M | Venture - Series Unknown | Jan 12, 2026 |  |
| DREV | DREV is a cleantech company manufacturing contamination control solutions for the world’s most advanced manufacturing facilities. | $500K | Seed | Nov 05, 2025 |  |
| Brightplus Oy | Brightplus is an innovative renewable materials manufacturing company from Finland. We specialise in design and development of new functional properties for industrial biomaterial solutions. We cater for industries like packaging, construction, cosmetics and consumer goods. Our expertise is based on developing solutions to multiple industries andproviding fast prototyping and full fit for customers’ production lines. Our deep chemical BrightBio® technology creates an optimal fit between coatings, barriers and plastic replacing materials to help you in raising your material functionality to the next level. | $2.3M |  | Jul 15, 2025 |  |
| Polar Light Technologies | Polar Light Technologies focuses on developing the next generation of Nano and micro LED technology. | $3.5M | Venture - Series Unknown | Apr 03, 2025 |  |
| Zenniz | Zenniz is an ITF approved game tracking solution that provides real-time info, such as automated line calling, stroke and serve speeds, shot charts, match statistics and more. Players and coaches at all levels can use Zenniz on and off the court to help improve their game. For tennis clubs, Zenniz is an easy and cost-effective way to upgrade to thenext level. Due to a new, innovative sensor technology, they’ve been able to keep the cost to a minimum, making Zenniz accessible for all clubs, coaches and players. | $2.2M | Venture - Series Unknown | Mar 13, 2025 |  |
| Happy Plant Protein | Happy Plant Protein develops a plant protein technology. | $1.9M | Pre-Seed | Nov 12, 2024 |  |
| Hypertype | Hypertype is a full-stack automation platform built for industrial aftersales. It combines three connected modules — Data Governance, AI Agents, and a Co-pilot + Management Layer — all powered by HyperBrain, a self-learning intelligence layer that continuously adapts to each customer’s data, feedback loops, and workflows to deliver end-to-endautomation and real-time operational insights. | $666.2K | Seed | Jul 04, 2024 |  |
| Atium | Clean water is one of the largest future challenges we stand before, and toxic pollutants are a large contributing factor. Heavy metals are some of the most toxic chemicals to human health and it is our goal, through our innovation, to contribute to a world where water treatment is more environmentally friendly and effective. Atium exists to helpensure clean water, for everyone. | $639.8K | Seed | Jun 17, 2024 |  |
| Flow Computing | Flow Computing improves the CPU performance for AI and general-purpose parallel computing applications. | $4.3M | Pre-Seed | Jun 11, 2024 |  |

10 of 89 investments shown.

## Co-investors
- [Almi Invest](https://shizune.co/investors/profile/almi-invest) — VC Fund, 8 deals together
- [Chalmers Ventures AB](https://shizune.co/investors/profile/chalmers-ventures) — VC Fund, 7 deals together
- [Stockholm Business Angels, STOAF](https://shizune.co/investors/profile/stockholm-business-angels-stoaf) — VC Fund, 7 deals together
- [Tesi](https://shizune.co/investors/profile/tesi) — VC Fund, 7 deals together
- [European Innovation Council](https://shizune.co/investors/profile/european-innovation-council) — VC Fund, 3 deals together
- [Navigare Ventures](https://shizune.co/investors/profile/navigare-ventures) — VC Fund, 3 deals together

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## FAQ

### What does Butterfly Ventures invest in?

Butterfly Ventures invests primarily in Software, Health Care and Information Technology startups, most often at Seed and Pre-Seed stage. Most of the 89 investments tracked by Shizune back companies in Finland. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Butterfly Ventures's check size?

Butterfly Ventures typically joins rounds of $275k–$2.1M at Seed and $110k–$4.3M at Pre-Seed. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Butterfly Ventures participates in.

### How do I contact Butterfly Ventures?

Public channels for Butterfly Ventures include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Butterfly Ventures?

The team at Butterfly Ventures includes Anette Nordvall (Venture partner), Anti Kodar (Venture partner) and Juho Risku (Co-Founder, Partner), among 6 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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