Verdane ramps up activity in Denmark – announces two new Danish investments: Onomondo and Apoteka
Verdane, the European specialist growth equity investor, has announced two new investments in Denmark-based companies, Onomondo and Apoteka. Onomondo is a global cellular operator for the Internet of Things (IoT) and Apoteka is the country’s leading end-to-end e-commerce operations platform to Danish pharmacies. The two investments, sourced independently, in Onomondo and Apoteka bring Verdane’s number of Denmark-based portfolio companies to eight, following its recent realisation of Scanmarket to Unit4.
Onomondo’s platform offers interoperable cross-border connectivity and performance management without operator constraints. Verdane’s investment, drawing on its experience from its 45 other investments in the software space, will support the company in accelerating Onomondo’s growth internationally, and in achieving its plans to triple Annual Recurring Revenue (ARR) in 2022 & 2023.
The investment from Verdane, coupled with participation from existing investors, will also help with Onomondo’s plans to scale its team from 50 to 100 by the end of 2022 and expand its customer base, which includes the likes of Bosch, Carlsberg, and Maersk. Verdane will help Onomondo seize the opportunity to leverage its platform to continue expanding its products and features, as well as drive incremental revenue streams.
Pål Malmros, Partner, at Verdane commented: ‘’We are convinced that Onomondo’s solution has the potential to vastly accelerate global roll-out of IoT, as well as expand the total set of addressable use cases. We look forward to partnering with the company to significantly accelerate the business’ expansion and growth internationally, drawing on the Verdane team’s experience from the other 45 software investments that we have made.’’
Apoteka is the full-service tech, marketing, and fulfilment provider to ApoPro Online Apotek, Denmark’s number one online pharmacy. Verdane’s majority investment will support Apoteka’s ambition to grow its market share, attract new customers, develop its brand and logistics capabilities, and enable improved access to medicine and other pharmaceutical products in Denmark. Verdane will draw on its experience from its investment in Farmasiet, a full-service online pharmacy in Norway, and over 40 other digital consumer investments to support Apoteka’s growth.
Verdane will also support Apoteka in continuing to penetrate the online pharmacy market, attract new customers, improve the customer experience and loyalty, broaden its product offering, and optimise its logistic setup. Verdane will draw on its deep expertise from partnering with tech-enabled businesses and its 30-strong operational enhancement team, Elevate, to improve Apoteka’s brand-building strategy and leverage data-analytics to support continued growth.
Merle Price, Director at Verdane said: “As the operations partner to ApoPro, Denmark’s largest online pharmacy, Apoteka’s business holds the potential to improve healthcare for millions of people by democratising access to medicine. The Verdane team is proud to harness its experience from scaling Norway’s largest online pharmacy, Farmasiet, and over 40 digital consumer investments to help Apoteka take the next step on its growth trajectory.”