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Top 10 Medical Device Startup Investors in Norway (May 2026)

The most active venture capital funds and angel investors investing in Norway Medical Device startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Norway Medical Device startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Investinor
VC Fund
3 Norway, United States, Switzerland Seed, Series A Software, Biotechnology, Manufacturing $160k–$13M
Skyfall Ventures
VC Fund
3 Norway, Denmark, United States Pre-Seed, Seed Software, Information Technology, Artificial Intelligence $270k–$5.4M
Stratel
VC Fund
2 Norway, United Arab Emirates Seed Robotics, Software, 3D Technology $320k–$1.8M
Arali Ventures
VC Fund
2 India, United States, Norway Seed, Series A, Pre-Seed Artificial Intelligence, Software, Machine Learning $500k–$34M
CoFounder
VC Fund
1 Norway Seed, Series A Manufacturing, Industrial, SaaS $791k–$2.3M
Hadean Ventures
VC Fund
1 Sweden, Norway, Austria Series A, Series B Biotechnology, Health Care, Pharmaceutical $3.7M–$69M
Nordic Angel Program
VC Fund
1 Finland Seed Apps, Software, Analytics
SINTEF Venture AS
VC Fund
1 Norway, United States, United Kingdom Seed, Pre-Seed Manufacturing, Software, Energy $160k–$4.9M
ProVenture
VC Fund
1 Norway, United States, India Seed, Series A Oil and Gas, Software, Information Technology $744k–$6.4M
Swiss Diabetes Venture Fund
VC Fund
1 Norway, Sweden, Switzerland Series A Medical, Health Care, Medical Device $6.4M–$8.3M
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Investor list

Investinor
VC Fund · Trondheim, Sor-Trondelag, Norway · 3 investments in Norway Medical Device startups

Investinor invests in Norwegian based, high potential companies that are internationally oriented and in the phases ranging from early growth to expansion. The company has BNOK 4.2 ($500 m) under management and focus on companies within the internet, software, semiconductors, energy, cleantech, marine and life sciences sectors.

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Investment focus

  • Industry: Software, Biotechnology, Manufacturing
  • Stage:Seed, Series A
  • Geography: Norway, United States, Switzerland

Investor stats

  • Total investments: 105
  • Round size: Seed $160k–$2M; Series A $1.8M–$13M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: May invest from a new fund soon — last raise in 2011

Portfolio highlights

  • Eyr — Eyr offers digital tools for medical consulting and doctor's prescription regarding various health issues.
  • Nomono — The Next Generation Audio company.
  • Ignite Procurement — A powerful & easy spend management tool to accelerate your procurement success by bringing clarity, clean data & sophisticated analytics to your fingertips
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Skyfall Ventures
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Medical Device startups, 8 in the past 12 months

We are an early stage venture capital firm based in Oslo, Norway.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed
  • Geography: Norway, Denmark, United States

Investor stats

  • Total investments: 45
  • Round size: Seed $656k–$5.4M; Pre-Seed $270k–$1.6M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Deckmatch — Tooling to drink from the firehose of data, that is your top of funnel (TOFU)
  • Databutton — Databutton is an online app builder that empowers the next generation of entrepreneurs and innovators. It enables anyone to create dynamic online apps in minutes by connecting to a growing array of sources, models, and integrations, or by utilizing their own datasets. 먹튀검증 https://muktts.net/
  • Optio Incentives — Optio helps businesses incentivize employees, manage equity, stay compliant, and report costs with our software and advisory
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Stratel
VC Fund · Oslo, Oslo, Norway · 2 investments in Norway Medical Device startups

Stratel AS is a family owned Norwegian investment and development company, founded in 1976 by Reidar Lorentzen. Stratel invests in entrepreneurs and companies with high ambitions, positive impact and a promising value potential. We invest in both startups, ventures and mature businesses. ​ Their investment philosophy is for Fun, Sense and Profit.

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Investment focus

  • Industry: Robotics, Software, 3D Technology
  • Stage:Seed
  • Geography: Norway, United Arab Emirates

Investor stats

  • Total investments: 5
  • Round size: Seed $320k–$1.8M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • Oivi — Smart and automated eye screening, anywhere.
  • Aivero — All-in-one platform for 2D & 3D camera fleet management. Visual data for AI models that help you automate computer vision tasks with precision.
  • HotelOnline — HotelOnline is the #1 revenue partner for the hospitality sector in Africa. More than 5,000 accommodation and restaurant partners in 24 countries have increased their revenue, and improved their customer experience with HotelOnline's technology-driven solutions. The HotelOnline Group includes Cloud9 - Africa's Lifestyle Network.
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Arali Ventures
VC Fund · Bangalore, Karnataka, India · 2 investments in Norway Medical Device startups

We are a seed fund focused on enterprise tech businesses out of India. We invest early, help build the venture with the promoter teams.

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Investment focus

  • Industry: Artificial Intelligence, Software, Machine Learning
  • Stage:Seed, Series A, Pre-Seed
  • Geography: India, United States, Norway

Investor stats

  • Total investments: 18
  • Round size: Seed $550k–$3.5M; Pre-Seed $500k–$1.6M; Series A $7M–$34M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • FinBox — FinBox is an ISO27001 compliant, technology and data science product company. FinBox works with banks & NBFCs to digitise their customer journeys & to help them underwrite NTC customers using alternative data from the smartphone.
  • Frigate — Frigate Engineering Services Private Limited bridges the gap between innovation and practice, by imparting clever and inventive ideas proposed by startups or industries and building mthe to life by ingeniously planning and designing the said idea into well-engineered products using sustainable design processes.At Frigate, we aim to achievesimplicity in complex tasks by designing and producing products that would be of great use for small scale businesses, farmers and even us in our day to day lives. We find and solve various problem statements identified in the daily world and build from scratch, interesting eco-friendly products/prototypes based on the required need.Our Manufacturing Capabilities ranging from1.Sheet metal Fabrication-Light Engineering from MS to SS to Aluminium. 2.Heavy Engineering fabrication starting from 5 tons-10 tons 3.All kinds of machining with in-house lathe, VMC and laser cutting facilities 4.3D printing from FDM,SLS,SLA 5.Injection Moulding and die making 6.Vaccum casting
  • HBox — HBox is a comprehensive remote healthcare solution for the healthcare industry.
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CoFounder
VC Fund · Trondheim, Sor-Trondelag, Norway · 1 investments in Norway Medical Device startups

CoFounder is a management and investment company for technology companies with great growth potential. They are experienced entrepreneurs and business developers who provide management resources and early-stage capital. They work with spin-offs from both research and industrial environments, as well as standalone entrepreneurial companies.

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Investment focus

  • Industry: Manufacturing, Industrial, SaaS
  • Stage:Seed, Series A
  • Geography: Norway

Investor stats

  • Total investments: 8
  • Round size: Seed $791k–$2.3M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • AlumatIQ — AlumatIQ specializes in industrial robotics, automation, and digitalization in the aluminum industry. Their first product is robotic automation of the anode change process, with high accuracy, consistency, and speed. Improves health and safety conditions for operators in pot rooms and reduces emissions of HF and greenhouse gases.
  • Nicoustic — Nicoustic developed accurate, non-intrusive technology for separator-level measurement based on Guided Ultrasonic Waves. Their technique uses guided ultrasonic waves to measure the amounts of solids and liquids using sensors. It is being developed to measure the interface layers between emulsion and foam.Nicoustic's prototype is the outcomeof 20 years of study at the German Fraunhofer IKTS and a response to a challenge put forth by Equinor, the largest energy company in Norway.
  • Aviant — Delivering full-stack drone services that enables autonomous and on-demand transport of cargo.
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Hadean Ventures
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Medical Device startups

Hadean Ventures is a life science fund manager that invests in life science companies across europe with a particular focus on the nordic region. The funds are backed by leading private and institutional investors. Hadean Ventures has offices in oslo and stockholm and collaborates with world-class academic institutions and start-up hubs across theregion

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Investment focus

  • Industry: Biotechnology, Health Care, Pharmaceutical
  • Stage:Series A, Series B
  • Geography: Sweden, Norway, Austria

Investor stats

  • Total investments: 19
  • Round size: Series A $3.7M–$42M; Series B $32M–$69M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Ribbon Biolabs — Ribbon Biolabs revolutionary technology for the fast and efficient automated synthesis of DNA is here to enable the new wave of biotechnological innovation.
  • Alex Therapeutics — The Alex DTx Platform enables partners within pharma and health care to effectively and reliably launch new DTx treatments by leveraging existing insights, modules, processes and data.
  • TargED Biopharmaceuticals — TargED Biopharmaceuticals is a biotechnology company that develops first-in-class biological drugs to improve treatment of thrombosis.TargED stands for Targeted Enzyme Delivery. Their biological drugs are unique by using small antibodies (“VhH”) to deliver enzymes to sites of thrombosis, enabling ‘targeted’ thrombolysis.
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Nordic Angel Program
VC Fund · 1 investments in Norway Medical Device startups

International training and investment program for business angels

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Investment focus

  • Industry: Apps, Software, Analytics
  • Stage:Seed
  • Geography: Finland

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • GlucoSet — GlucoSet develops tools for accurate continuous glucose monitoring in Intensive Care Units, to reduce patient mortality and hospital costs.
  • Screenful — Screenful is the easiest way to visualise your project progress using data from Jira, Trello, Asana, Github & Gitlab. Save time and get all the metrics you need at a glance with automated dashboards, custom charts and predictive reporting all in one place.
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SINTEF Venture AS
VC Fund · Trondheim, Sor-Trondelag, Norway · 1 investments in Norway Medical Device startups

SINTEF TTO & Venture invest in spin-off companies from SINTEF, NTNU and other research based institutions in Norway. Our dealflow reflect results from state-of-art research and cover a variety of sectors. SINTEF Venture seek to co-invest with VC funds with sector expertise at an early stage.

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Investment focus

  • Industry: Manufacturing, Software, Energy
  • Stage:Seed, Pre-Seed
  • Geography: Norway, United States, United Kingdom

Investor stats

  • Total investments: 27
  • Round size: Seed $160k–$4.9M; Pre-Seed $360k–$745k
  • Lead/follow: 41% lead, 59% follow
  • Last fund: May invest from a new fund soon — raised $45M in 2018

Portfolio highlights

  • Nomono — The Next Generation Audio company.
  • Hystar — Hystar is a high tech company specializing in advanced PEM electrolysers for large scale green hydrogen production, that is 100% sustainable.
  • KIT-AR — Reduce time and costs spent fixing errors on your manufacturing shopfloor with quality assurance and augmented reality- Click in to find how!
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ProVenture
VC Fund · Trondheim, Sor-Trondelag, Norway · 1 investments in Norway Medical Device startups

ProVenture invest in young digital technology startups in Norway. ProVenture have three seed funds and more than a billion NOK under management. ProVenture is a member of Norwegian Venture Association (NVCA).

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Investment focus

  • Industry: Oil and Gas, Software, Information Technology
  • Stage:Seed, Series A
  • Geography: Norway, United States, India

Investor stats

  • Total investments: 36
  • Round size: Seed $744k–$6.4M; Series A $4.9M–$5.4M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • InfoTiles — InfoTiles provides real-time analytics solutions for Digital Water that span the water value chain, from supply & consumption to wastewater treatment and surveillance of waterways. InfoTiles unlocks data-driven planning, operations and maintenance.InfoTiles simplifies and automates the tedious steps of consolidating data, applying real-timeanalytics and machine learning so water utilities can turn insights into actions and benefit from more efficient, sustainable operations.
  • Wanda — Lageret som henter og leverer hjemme. Rimelig, trygt, enkelt!
  • Cimon Medical — Cimon Medical develops and manufactures novel Doppler ultrasound technology for healthcare and aim to become the market leader in continuous direct monitoring of blood-flow. The first product to be released in Q4 21 is NeoDoppler - non-invasive continuous monitoring of blood-flow in the brain of premature or critically ill infants.
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Swiss Diabetes Venture Fund
VC Fund · Lausanne, Vaud, Switzerland · 1 investments in Norway Medical Device startups

Swiss Diabetes Venture Fund is europe’s first venture fund dedicated to diabetes technology.

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Investment focus

  • Industry: Medical, Health Care, Medical Device
  • Stage:Series A
  • Geography: Norway, Sweden, Switzerland

Investor stats

  • Total investments: 3
  • Round size: Series A $6.4M–$8.3M
  • Lead/follow: 67% lead, 33% follow

Portfolio highlights

  • Piomic — The COMS One Therapy System is intended to promote wound healing in chronic leg and foot ulcers, in addition to standard of care.
  • GlucoSet — GlucoSet develops tools for accurate continuous glucose monitoring in Intensive Care Units, to reduce patient mortality and hospital costs.
  • Digital Diabetes Analytics — Digital Diabetes Analytics radically fights diabetes with AI-based analysis of continuous glucose monitor (CGM) data. Despite rapid growth in CGM usage, impact on clinical outcomes is limited and healthcare professionals are overwhelmed by data. DDA in Sweden changes this with its AI-based decision support tool for patient prioritization andtreatment, turning data into improved outcomes and quality of life and reducing costs for healthcare providers.
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Medical Device Investor funding in Norway at a glance

Stats across 28 deals from 22 investors.

22
investors
in Norway Medical Device startups
28
deals
in Norway Medical Device startups
$2M
median round
in Norway Medical Device startups
73%
lead investors
lead at least one round
32%
Grant
most common funding stage
100/0
VC / Angel
share of investor count

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