About Ugly Duckling Ventures
Ugly Duckling Ventures is a venture capital firm founded in 2021. It is primarily based out of Copenhagen, Denmark. As of Mar 2025, Ugly Duckling Ventures is an active investor, having invested in 12 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in Denmark based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it led the $4.15M Series A round of Skyfora along with . This round also saw participation from Voima Ventures and other investors.
A lot of funds co-invest with Ugly Duckling Ventures, with names like Vaekstfonden sharing a substantial percentage of its portfolio.
Ugly Duckling Ventures has team of 9 people including 7 partners.
Ugly Duckling Ventures' List of Top Investments
Ugly Duckling Ventures has a portfolio of 12 companies. Their most notable investments are in Skyfora and BeCause.Their portfolio spans across Denmark, Finland and Norway. They have invested in Enterprise Applications, High Tech, ConsumerÌý²¹²Ô»å 10 other sectors, across stages such as Seed, Series A stages. Here is the list of top investments by Ugly Duckling Ventures:
1. BeCause
Sustainability data management platform that helps companies collect and communicate information. The platform assists companies in the travel and tourism industry by providing and managing the data. It leverages AI-powered technology that automates the data collection tasks and facilitates communication between booking platforms, hotels, industry associations, and organizations.
Key facts about BeCause
- Founded Year: 2018
- Location: Copenhagen (Denmark)
- Stage: Seed
- Total Funding till date: $2.95M
- Employee Count: 25 as on Nov 30, 2024
- Investors: Vaekstfonden, Alchemist Accelerator and 6 Others
- Latest Funding Round: Seed, Feb 22, 2024, $600K
- Highlight: Editors' Pick
2. Eupry
Provider of web-based temperature logging and monitoring solutions for cold chains. Its product consists of a logging device and a web dashboard or application which can be used for accessing the data logged. Its devices can also be mapped to storage infrastructures such as fridges and storage areas. Its additional features include automated SMS and email alerts, documentation, and deviation management. Its sensors are capable of logging temperature and humidity.
Key facts about Eupry
- Founded Year: 2014
- Location: Copenhagen (Denmark)
- Valuation: $13.7M as on Aug 05, 2022
- Stage: Series A
- Total Funding till date: $26.9M
- Employee Count: 12 as on Jun 30, 2021
- Investors: Vaekstfonden, Chr. Augustinus Fabrikker and 6 Others
- Latest Funding Round: Series A, Dec 20, 2024, $23.7M
- Highlight: Editors' Pick
3. Skyfora
Provider of AI and computer vision-based weather forecasting systems. Its product portfolio includes storm tracker software and weather instruments. Its software has features like neural network-based weather and storm prediction using satellite images, historical catalogs of storm intensities, and dropsonde measurement. Its weather sonde utilizes IoT-based sensors and slow descent features.
Key facts about Skyfora
4. Kollektiv
Provider of a sports training platform for athletes. It offers a platform for customizing training routines according to the user's needs. It is a subscription-based platform and allows users to chat with experts. The main courses offered are for swimming, running, and biking athletes.
Key facts about Kollektiv
- Founded Year: 2017
- Location: Bryrup (Denmark)
- Valuation: 33.9M DKK as on May 02, 2022
- Stage: Seed
- Total Funding till date: $2.62M
- Employee Count: 2 as on Dec 31, 2022
- Investors: Vaekstfonden, Ugly Duckling Ventures and 1 Other
- Latest Funding Round: Seed, Sep 12, 2022, $1.51M
Ugly Duckling Ventures' Year-on-Year Investment Trends
Ugly Duckling Ventures has invested in 12 companies over the last 3 years, with an average of 2 new investments annually in the last 3 years. In 2024, it made 2 investments, while as of Mar 2025, it has made 1 investment in this year. Its most recent first time investment was in Skyfora and most recent follow-on round was in Eupry.
Year | No. of Investments | ||
|---|---|---|---|
1stÌý¸é´Ç³Ü²Ô»å | Follow-on | Total | |
2025 (YTD) | 1 | 0 | 1 |
2024 | 1 | 1 | 2 |
2023 | 1 | 0 | 1 |
2022 | 2 | 0 | 2 |
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Ugly Duckling Ventures' Investments by Stage
Ugly Duckling Ventures has made 4 investments in Seed stage with an average round size of $1.71M and 1 investment in Series A stage with an average round size of $4.15M.Note: We have considered here, only first round of investments
Stage of entry | No. of Investments |
|---|---|
Seed | 4 |
Series A | 1 |
Ugly Duckling Ventures' Investments by Sector
Ugly Duckling Ventures has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, High Tech, Vertical SaaS and Business Services. Notably, it has invested in 8 Tech companies, 5 Software companies, 4 Consumer (B2C) companies and at least 4 companies focusing on Enterprise (B2B).
Note: We have considered here, only first round of investments
Sector | No. of Investments |
|---|---|
Enterprise Applications | 3 |
Consumer | 2 |
High Tech | 2 |
Vertical SaaS | 2 |
Business Services | 1 |
Others | 6 |
Ugly Duckling Ventures' Investments by Geography
Ugly Duckling Ventures has made most investments in Denmark (4), followed by Finland where it has made 1 investment.
Note: We have considered here, only first round of investments
Country | No. of Investments |
|---|---|
Denmark | 4 |
Finland | 1 |
Ugly Duckling Ventures' recent investments
Here are the most recent investments by Ugly Duckling Ventures:
Date | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 03, 2025 | Finland | Series A | $4.15M | LUMO Labs [+2] | |
Dec 20, 2024 | Denmark | Series A | $23.7M | ||
Apr 22, 2024 | Denmark | Seed | $1M | - | |
Nov 29, 2023 | Denmark | Seed | $1.9M | Superangel [+1] | |
Sep 12, 2022 | Denmark | Seed | $1.51M | Vaekstfonden [+1] |
Get the detailed list of all investments by Ugly Duckling Ventures. Download now!Team profile of Ugly Duckling Ventures
Ugly Duckling Ventures has a team of 9 membersÌý¾±²Ô³¦±ô³Ü»å¾±²Ô²µ 7 Partners and 2 Principals located in Denmark and United States. Ugly Duckling Ventures' team sits on the board of 2 companies.Here is a list of all team members in Ugly Duckling Ventures:
Name | Designation | Location | Board Memberships | Contact details |
|---|---|---|---|---|
Partner | Copenhagen | |||
Partner | Copenhagen | , | ||
Partner | Copenhagen | - | - | |
Partner | Copenhagen | - | - | |
Partner | Copenhagen | - | - | |
Partner | Copenhagen | - | - | |
Partner | Copenhagen | - | - | |
Principal | San Francisco | - | - | |
Principal | Copenhagen | - | - |
Get the full list of Ugly Duckling Ventures' team & partners for free. Download now!Co-investors of Ugly Duckling Ventures
Over the past 3 years, 18 investors have co-invested in Ugly Duckling Ventures's portfolio companies.
- Invested before Ugly Duckling Ventures:ÌýInnovationsfonden, Alchemist Accelerator and 5 others have invested in rounds before Ugly Duckling Ventures. There are 1 company where Innovationsfonden has invested before Ugly Duckling Ventures and 1 company where Alchemist Accelerator has invested before Ugly Duckling Ventures.
- Top Co-investors of Ugly Duckling Ventures:Ìý7 investors entered a company along with Ugly Duckling Ventures. These include investors like Vaekstfonden (2 companies).
- Invested after Ugly Duckling Ventures:ÌýA total of 4 investors have invested in Ugly Duckling Ventures's portfolio after their investments. Top Investors include Curiosity (1 company), Chr. Augustinus Fabrikker (1 company) and Sagitta (1 company).
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Recent News related to Ugly Duckling Ventures
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EU-Startups•Mar 03, 2025•Skyfora, Ugly Duckling Ventures, LUMO Labs, Voima Ventures and 2 others
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Oresund Startups•Dec 30, 2024•Eupry, Chr. Augustinus Fabrikker, Ugly Duckling Ventures, Danmarks Eksport og Investeringsfond and 1 other
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Nets•Dec 20, 2024•Eupry, Chr. Augustinus Fabrikker, Ugly Duckling Ventures, Danmarks Eksport og Investeringsfond
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