"Support your local" mentality won’t stay in VC investments after the corona crisis and Japanese companies hunger for Nordic startups will recover, discussed NordicNinja VC partners Rainer Sternfeld and Tomasaku Sohara in Foundme podcast.
In Sternfeld’s eyes both Japan and the Nordics are very good in dealing with externalities so they should be more set for times of crisis. "You want to be resilient towards any unforeseen things. And I think it is already built in to us to be able to come up with solutions that are resilient to bad weather.“
Sohara admitted that Japanese corporates will be quite reluctant to make any additional investments into startups in general compared to the situation before the corona virus. Still, he believes in their hunger for the Nordic and Baltic startup ecosystem. "Many Japanese corporates are hungry for the startup ecosystem in the Nordics and the Baltics. I think their resilience will get back within several months. After that Japanese companies will definitely continue to make new investments.“
Sternfeld said that Japanese industries are very hungry for innovation and he believes that as long as the Nordic and Baltic region continue to drive innovation in the same way there will be interest. "I think good ideas always get funded.“
"The values will change in terms of where you invest in but on a cultural level and in the need of innovation level there is no decrease in the demand,“ Sternfeld added.
NordicNinja VC led lately a 4.5 million euros Series A equity investment into Finnish data logging startup Logmore. The investment was made with Finnish Icebreaker, Estonian Trind Ventures, Tekton Ventures from USA and Jaakkoo-Taara from Finland to fund Logmore’s global expansion.
Logmore’s QR code tags monitor shipment condition. The tags measure temperature, humidity, light, shocks, and tilt which is crucial for transporting food and pharmaceuticals.
NordicNinja VC partner Rainer Sternfeld said that this technology is even more relevant in corona virus situation where lab tests and blood are shipped and you need to make sure that deliveries keep their quality.