Demo Day on June 14 gathered all the startups of DigitalWell Ventures accelerator on the top floor of Rebel in Oslo, were they pitched in front of specially invited investors. A task marking the final challenge before graduating from the healthtech accelerator.
The fifth cohort signifies a small jubilee for DigitalWell Ventures, with over 30 startups having graduated since its inception in 2021. The track record continues to strengthen, and several of the alumni have received substantial post-graduation investments.
– Demo Day is truly our final test, preparing the startups to meet the investors. Having a strong pitch and a clear idea of the capital required to scale their businesses are essential steps, says Stefan Skoglund, CEO of DigitalWell Ventures.
Many of the graduateing startups have already secured investments, highlighting the quality of the startups. Eupnea, for example, had their ongoing investment round subscribed to more 50 percent even before taking the stage on the 17th floor of Rebel’s premises in central Oslo.
Appreciates the customized program
– The key takeaways from the accelerator for us are how to go to market, market estimation but also the system – how they can tailor the program for every company, says Andreas Tunset and Øystein Theodor Ødegaard-Olsen, founders of Eupnea.
Andreas Tunset and Øystein Theodor Ødegaard-Olsen, Eupnea, are satisfied with their participation in the accelerator program.
As always, many prominent investors participated in the pitches, including Jan Wessel Bratterud and Patrick Sandahl.
– There were many good ideas within many important areas, says Patrick Sandahl, Investment Director at Investinor, and adds a general tip for companies in early stages:
– What’s interesting for Investinor is to teach the founding companies, before they reach us in the Series A round, that in the early stages they are asking for too little money. They are too focused on dilution and only have funds for the existing operations, but that means they cannot scale the business and constantly must seek new capital.
In terms of being in the right place to meet investors, David Holm Glad, the Investment Manager of DigitalWell Ventures, thinks Oslo is transforming into a startup hotspot.
– Over the past few years, Oslo (Norway) has gone from zero to seven unicorns, including companies like Kahoot, Gelato, and reMarkable. Despite the challenging investment climate, healthtech has outperformed many other sectors and continues to attract investor interest. Our dedicated niche has proven successful, he explains.
Expanding deal flow
The deal flow for the seventh cohort, opening in mid-September, proves this statement. Aline Santa Izabel, Stefan Petersson and Dasha Shvaikovskaya from DigitalWell Ventures team has extensively networked in the Baltics, indicating the likelihood of several new startups from that region joining the accelerator.