Photo: SpectX team
EstVCA member, European deep-tech fund karma.vc has announced the sale of high-speed parsing and query analytics company SpectX to software intelligence company Dynatrace.
Karma.vc exits yet another deep tech company that is based in the Nordic-Baltic region. World-leading education systems, a very favourable investment climate, and Europe’s most intense startup scene are producing new global technology leaders, supporting Europe’s rise on the deep tech scene.
„We are honoured to be part of the SpectX success story. Their best-in-class powerful parsing and query analytics technology is a great example of Karma’s investment thesis for European deep tech. Working together with the team and its co-founder Renee Trisberg has been truly exciting and mutually rewarding,“ said Margus Uudam, Karma.vc founding partner.
“Karma has provided invaluable support to us throughout these years in understanding the complexities that deep tech companies are facing, being able to support us on commercial topics as well as helping to navigate through the early-stage growth,” said Renee Trisberg, co-founder, CEO, and CTO at SpectX.
The transaction is part of a growing list of recent Karma.vc deep-tech exits.
„The deep tech companies Karma has partnered with are being acquired by leading technology companies; this comes right after Plumbr was acquired by Splunk, AppGyver by SAP and TrademarkNow by Corsearch. What is noteworthy is that many of our portfolio companies have been acquired based on inbound interest – the Nordic-Baltic region, known for the world-class deep tech companies which are highly valued by the global strategics has become an increasingly attractive destination for tech acquisitions,“ added Uudam.
About Karma Ventures
Karma Ventures is a venture capital firm focused on investing in European early-stage startups that develop unique technologies and demonstrate proven customer traction. It has completed 16 investments since the launch of its first fund in 2016 and the team’s track record includes taking more than 20 companies to successful exits. Karma Ventures’ first fund from which SpectX investment was made is backed among others by the Baltic Innovation Fund (BIF) - an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania and the European Investment Fund.