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Top 50 Software VC Funds & Investors in Norway (May 2026)

The most active venture capital funds investing in Norway Software startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Norway Software 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
23 Norway, United States, Switzerland Seed, Series A Software, Biotechnology, Manufacturing $160k–$13M
Skyfall Ventures
VC Fund
19 Norway, Denmark, United States Pre-Seed, Seed Software, Information Technology, Artificial Intelligence $270k–$5.4M
Alliance
VC Fund
16 Norway, United States, Sweden Seed, Series A Software, Information Technology, Analytics $840k–$12M
Idekapital
VC Fund
14 Norway, United Kingdom Seed, Series A Software, SaaS, Artificial Intelligence $162k–$14M
ProVenture
VC Fund
14 Norway, United States, India Seed, Series A Oil and Gas, Software, Information Technology $744k–$6.4M
SNÖ Ventures
VC Fund
11 Norway, Vietnam Seed, Series A Software, SaaS, Video Games $899k–$5M
Innovation Norway
VC Fund
11 Norway, Romania, United States Grant, Seed Software, Information Technology, Artificial Intelligence $41k–$3.6M
Arkwright X
VC Fund
9 Norway Seed, Pre-Seed Software, SaaS, PaaS
Antler
VC Fund
9 Singapore, United Kingdom, Australia Pre-Seed, Seed, Series A Software, Information Technology, SaaS $100k–$29M
Northzone
VC Fund
9 United States, Sweden, United Kingdom Series A, Series B, Seed Software, E-Commerce, Information Technology $2.3M–$52M
Skagerak Maturo
VC Fund
7 Norway Seed, Series A Software, Information Technology, SaaS $926k–$7.5M
Creandum
VC Fund
7 Sweden, Germany, United States Series A, Seed, Series B Software, Information Technology, Mobile $450k–$54M
RunwayFBU
VC Fund
6 Norway Pre-Seed, Seed, Angel Software, SaaS, B2B
DNB
VC Fund
6 Norway, Sweden, Denmark Seed, Post-IPO Debt Energy, Banking, Software $600k–$429M
Ferd
VC Fund
5 Norway, Sweden, United States Private Equity, Post-IPO Equity Energy, Software, Manufacturing $1M–$38M
Link Venture Capital
VC Fund
4 Norway, United Kingdom, The Netherlands Pre-Seed, Seed Software, Information Technology, Renewable Energy $400k–$4.3M
TeleVenture Management
VC Fund
4 Norway, United States Seed, Series A Manufacturing, Software, Information Technology
Speedinvest
VC Fund
4 Germany, United Kingdom, Austria Seed, Series A, Pre-Seed Software, FinTech, Financial Services $396k–$50M
Concentric
VC Fund
4 United Kingdom, United States, Norway Seed, Series A, Series B Financial Services, Software, E-Commerce $857k–$225M
Voyagers
VC Fund
3 United Kingdom, Norway, Sweden Seed, Pre-Seed, Convertible Note B2B, Biotechnology, Machinery Manufacturing $1.5M–$5M
Founders Fund AS
VC Fund
3 Norway, United States Seed B2B, SaaS, Internet
MP Pensjon
VC Fund
3 Norway Seed, Series A Software, SaaS, AgTech
The Nordic Web Ventures
VC Fund
3 Denmark, Norway, Sweden Pre-Seed, Seed, Angel Software, SaaS, Information Technology $250k–$1.5M
Blue Bear Capital
VC Fund
3 United States, Canada, Norway Series A, Seed Software, SaaS, Information Technology $2M–$15M
Valinor AS
VC Fund
3 Norway, United Kingdom Seed, Series A Renewable Energy, Robotics, SaaS $1.8M–$2.3M
TRK Group
VC Fund
3 Norway, Kenya Pre-Seed, Seed Artificial Intelligence, SaaS, Internet $400k–$510k
Point Nine
VC Fund
3 Germany, United States, France Seed, Series A, Series B Software, SaaS, Internet $800k–$40M
Statkraft Ventures
VC Fund
3 Germany, France, Norway Series A, Series B Software, Big Data, Information Technology $3.2M–$19M
Stratel
VC Fund
3 Norway, United Arab Emirates Seed Robotics, Software, 3D Technology $320k–$1.8M
Kistefos Venture Capital
VC Fund
3 Norway, Singapore, Sweden Seed, Series A Software, FinTech, Financial Services $700k–$1.5M
Norselab
VC Fund
3 Norway, Switzerland, United States Seed, Series A Software, SaaS, Analytics $500k–$14M
SINTEF Venture AS
VC Fund
3 Norway, United States, United Kingdom Seed, Pre-Seed Manufacturing, Software, Energy $160k–$4.9M
Vinyl Capital
VC Fund
2 United States, India, Canada Seed, Series A, Pre-Seed E-Commerce, Software, Analytics $4M–$25M
Nunchi
VC Fund
2 Norway Seed Security, Software, Information Technology
Simula Innovation
VC Fund
2 Norway Pre-Seed Software, Machine Learning, Artificial Intelligence
MP Pension
VC Fund
2 Norway Seed, Series A Information Technology, Software, Apps
Digital Currency Group
VC Fund
2 United States, United Kingdom, Singapore Seed, Series A Blockchain, FinTech, Cryptocurrency $500k–$20M
Amadeus Ventures
VC Fund
2 United States, Spain, Canada Seed, Series A Software, Travel, Mobile $6M–$15M
ETF Partners
VC Fund
2 United Kingdom, France, Norway Series A, Series B Software, Renewable Energy, SaaS $5.4M–$13M
Verdane
VC Fund
2 Sweden, Norway, Germany Private Equity, Series A E-Commerce, Software, Information Technology $4.4M–$100M
Dragonfly
VC Fund
2 United States, Hong Kong, Singapore Seed, Series A Blockchain, Cryptocurrency, Financial Services $1.6M–$35M
Viking Venture
VC Fund
2 Norway, United States, United Kingdom Series A, Series B Oil and Gas, Software, Energy
Entrée Capital
VC Fund
2 United States, Israel, United Kingdom Seed, Series A, Series B Software, Financial Services, FinTech $1M–$50M
Shell Ventures
VC Fund
2 United States, United Kingdom, Norway Series A, Series B Energy, Renewable Energy, Software $2.4M–$126M
Boost VC
VC Fund
2 United States, Canada, United Kingdom Seed, Pre-Seed Software, Virtual Reality, Blockchain $70k–$4.4M
Loyal VC
VC Fund
2 United States, Canada, United Kingdom Pre-Seed, Seed Software, Artificial Intelligence, E-Commerce $78k–$2.5M
Multicoin Capital
VC Fund
2 United States, Singapore, Switzerland Seed, Series A Blockchain, Cryptocurrency, Software $1.1M–$30M
Iron Wolf Capital
VC Fund
2 Lithuania, Estonia, United Kingdom Seed, Pre-Seed, Series A Software, Infrastructure, Manufacturing $120k–$6.9M
Butterfly Ventures
VC Fund
2 Finland, Sweden, Norway Seed, Pre-Seed Health Care, Software, Information Technology $214k–$2M
Wiski Capital
VC Fund
2 Norway Seed Software, AgTech, Energy $1.1M–$7.5M
Access all 224 VC funds in Norway Software startups.

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Investinor
VC Fund · Trondheim, Sor-Trondelag, Norway · 23 investments in Norway Software 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 · 19 investments in Norway Software 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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Alliance
VC Fund · Oslo, Oslo, Norway · 16 investments in Norway Software startups, 7 in the past 12 months

Alliance Venture is a Nordic venture capital firm investing in exceptional early-stage tech companies and purpose-driven founders.

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Investment focus

  • Industry: Software, Information Technology, Analytics
  • Stage:Seed, Series A
  • Geography: Norway, United States, Sweden

Investor stats

  • Total investments: 61
  • Round size: Seed $840k–$4M; Series A $1.8M–$12M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • P0x Labs — P0x labs is the team behind Manta Network is a privacy-preserving technology operating on the Polkadot blockchain.
  • Deckmatch — Tooling to drink from the firehose of data, that is your top of funnel (TOFU)
  • Xverse — Xverse is the most advanced and user-friendly Bitcoin wallet. Earn BTC, trade Ordinals, and connect to Web3 apps powered by Stacks. Download for iOS, Android and Chrome.
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Idekapital
VC Fund · Oslo, Oslo, Norway · 14 investments in Norway Software startups

We manage two investment funds with more than 1 bn NOK under management. We invest in high-growth software and technology companies.

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Investment focus

  • Industry: Software, SaaS, Artificial Intelligence
  • Stage:Seed, Series A
  • Geography: Norway, United Kingdom

Investor stats

  • Total investments: 26
  • Round size: Seed $162k–$4.4M; Series A $2.7M–$14M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Appfarm — Quickest way to develop apps
  • wheel.me — The first and only autonomous wheel in the world. The innovation transforms anything into an autonomous mobile robot with minimal effort and without the need to alter its design or form. The company was founded in 2013 and is headquartered in Oslo, Norway.
  • Kongsberg Digital — Kongsberg Digital offers transformative technology and deep expertise to help industrial companies achieve increased productivity and growth.
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ProVenture
VC Fund · Trondheim, Sor-Trondelag, Norway · 14 investments in Norway Software 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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SNÖ Ventures
VC Fund · Oslo, Oslo, Norway · 11 investments in Norway Software startups

SNÖ is an early stage venture capital firm that empowers Nordic technology entrepreneurs and startups. They founders are builders and entrepreneurs themselves, with unique digital expertise, and are extremely passionate about the various aspects that make a startup succeed.SNÖ is based in Oslo, Norway. It was founded by Magne Uppman and TeodorBjerrang in 2015.

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Investment focus

  • Industry: Software, SaaS, Video Games
  • Stage:Seed, Series A
  • Geography: Norway, Vietnam

Investor stats

  • Total investments: 19
  • Round size: Seed $899k–$5M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Breyta — Unify your customer and user data to get actionable insights throughout your customer lifecycle.
  • Stablegains — No hidden fees, no minimum balances, no commitment periods. Takes only a few minutes to get started.
  • Ignite Procurement — A powerful & easy spend management tool to accelerate your procurement success by bringing clarity, clean data & sophisticated analytics to your fingertips
Show all investments...

Innovation Norway
VC Fund · Oslo, Oslo, Norway · 11 investments in Norway Software startups

Innovasjon Norge - vi gir lokale ideer globale muligheter

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Grant, Seed
  • Geography: Norway, Romania, United States

Investor stats

  • Total investments: 54
  • Round size: Seed $47k–$3.6M; Grant $41k–$1.1M
  • Lead/follow: 41% lead, 59% 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.
  • Hyperhuman — Hyperhuman is the AI-powered video platform for health & fitness. Drive engagement, boost loyalty, attract leads, and streamline your video production.
  • Intoto — Intoto is a Company from Norway providing real-time data from rivers and streams.
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Arkwright X
VC Fund · Oslo, Oslo, Norway · 9 investments in Norway Software startups

Arkwright X is the place for aspiring startups to innovate and develop. We accelerate your journey to success through a pre-seed capital injection, top quality working environment, strategy sparring & advice, and access to Arkwright's extensive network.

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Investment focus

  • Industry: Software, SaaS, PaaS
  • Stage:Seed, Pre-Seed
  • Geography: Norway

Investor stats

  • Total investments: 12
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • Appfarm — Quickest way to develop apps
  • 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/
  • Ignite Procurement — A powerful & easy spend management tool to accelerate your procurement success by bringing clarity, clean data & sophisticated analytics to your fingertips
Show all investments...

Antler
VC Fund · Singapore, Central Region, Singapore · 9 investments in Norway Software startups, 118 in the past 12 months

Build your next company with Antler, a global day zero investor enabling exceptional founders to start great companies, from the very beginning. Apply now!

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Singapore, United Kingdom, Australia

Investor stats

  • Total investments: 363
  • Round size: Seed $510k–$7.5M; Pre-Seed $100k–$1M; Series A $600k–$29M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • FitFlo — FitFlo brings to life the connected gym experience for Operators, Trainers and Members.
  • Mole — Mole is a digital business card and mobile website software. Connect with your clients, promote your business online and much more. Comes with free customised NFC business card.
  • Optacloud — Fostering a global AI powered ecosystem to achieve 100% cloud efficacy-> effortlessly, economically and eco-consciously. Dev tools stack for automating the entire development lifecycle of cloud apps across- Build, Deploy & Optimize.
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Northzone
VC Fund · London, England, United Kingdom · 9 investments in Norway Software startups, 18 in the past 12 months

Northzone is a venture capital fund with a perspective shaped by lives as entrepreneurs. Since 1996, they've made over 175 investments and invest from Seed to Growth. They've partnered with the founders of Spotify, Avito, iZettle, Klarna, Hopin, and hundreds of others to build category-defining businesses. They've raised €1bn inSeptember 2022.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Series A, Series B, Seed
  • Geography: United States, Sweden, United Kingdom

Investor stats

  • Total investments: 239
  • Round size: Seed $2.3M–$11M; Series A $3.2M–$25M; Series B $5M–$52M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — raised $1.1B in 2022

Portfolio highlights

  • IDOVEN — IDoven develops products to detect heart problems at an early stage to prevent heart diseases.
  • Quench.ai — Quench is a tech infrastructure for video creators to deliver exclusive content, engage and reward their true fans.
  • Bedrock Ocean Exploration — Bedrock is building smarter, more efficient ways to collect and manage seafloor data.
Show all investments...

Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Skagerak Maturo
VC Fund · 7 investments in Norway Software startups

As an early stage venture firm, we invest in companies with positive impact. Megatrends like climate change and resource scarcity are some of the challenges we are facing. We believe technological innovations will contribute to a positive impact on people and the planet.

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Series A
  • Geography: Norway

Investor stats

  • Total investments: 12
  • Round size: Seed $926k–$1.4M; Series A $2.7M–$7.5M
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Semine — The SEMINE.AI cognitive services offers shared service centers in enterprices and their developers to standardize the most labor-intensive financial object, using a semantic model for the classification of the invoice, and populate AI-models in order to enable automation. The automation includes cost distribution at both GL and dimension levels.Positioned as the market leader with AI in accounts payable the company is experiencing vast growth in the Nordics where most of the AP market leaders are born (Basware, Medius and Visma)
  • OptoScale — OptoScale sells real-time monitoring equipment for fish farms. OptoScale engages in precision aquaculture, helping fish farmers unlock unprecedented productivity and sustainability gains.
  • Ignite Procurement — A powerful & easy spend management tool to accelerate your procurement success by bringing clarity, clean data & sophisticated analytics to your fingertips
Show all investments...

Creandum
VC Fund · Stockholm, Stockholms Lan, Sweden · 7 investments in Norway Software startups, 13 in the past 12 months

We support early-stage founders in building global, category-defining companies. From Seed to IPO and beyond.

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Investment focus

  • Industry: Software, Information Technology, Mobile
  • Stage:Series A, Seed, Series B
  • Geography: Sweden, Germany, United States

Investor stats

  • Total investments: 198
  • Round size: Seed $450k–$16M; Series A $3M–$22M; Series B $6.4M–$54M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Ivy — We are building a global API for instant bank payments
  • Terralayr — Terralayr uses software to collect energy grid-scale storage, which will be required as we strive to make renewable energy more efficient and lucrative.
  • Lindus Health — Lindus Health. From recruitment to delivery, we accelerate clinical trials. Our mission is to make health research accessible for everyone, everywhere.
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RunwayFBU
VC Fund · Fornebu, Akershus, Norway · 6 investments in Norway Software startups

An early stage VC fund that invests in software-driven technology companies built by ambitious entrepreneurs.

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Investment focus

  • Industry: Software, SaaS, B2B
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Norway

Investor stats

  • Total investments: 10
  • Lead/follow: 10% lead, 90% follow
  • Last fund: Likely still investing — raised $27M in 2021

Portfolio highlights

  • Complai — ComplAI is a compliance platform for business processes. ComplAI works together among several actors (auditors, asset owners, standard owners, consultants, and stakeholders) providing access to compliance records, guidelines, reporting plans, and customizable requirement lists - minimizing supply chain problems and streamlining the auditingprocedure.
  • Adminkit — Adminkit is a digital toolbox that provides better control - saving time and frustration.
  • Shapemaker — Your new software for civil engineering design and analysis, starting off with telecommunication infrastructure.
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DNB
VC Fund · Oslo, Oslo, Norway · 6 investments in Norway Software startups

DNB is a financial services group that offers financial services through mobile, online banking, bank offices, and international offices. The Group provides a full range of financial services, including loans, savings, advisory services, insurance, and pension products for retail and corporate customers. The company’s personal banking products andservices include savings and investment products.DNB offers its products and services to various sectors, including financial institutions, energy, manufacturing, healthcare, packaging, and forest products, shipping, offshore, and logistics, seafood, and telecom, media, and technology. They also distribute its products and services through its branches, in-store postal and banking outlets, and post office counters.DNB was founded in 1822 and is headquartered in Oslo, Norway.

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Investment focus

  • Industry: Energy, Banking, Software
  • Stage:Seed, Post-IPO Debt
  • Geography: Norway, Sweden, Denmark

Investor stats

  • Total investments: 23
  • Round size: Seed $600k–$1.1M; Post-IPO Debt $138M–$429M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Climeon — The Climeon Heat Power system, converts waste heat and geothermal heat into clean electricity. Saving fuel and electricity cost - as well as the environment.
  • Edify Energy — Edify Energy is a renewable energy company that specializes in solar project structuring, investments, and financing services.
  • Ocean GeoLoop — Ocean GeoLoop captures and stores or utilizes CO2 naturally. With no use of chemicals, toxins or other harmful consumables.
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Ferd
VC Fund · Lysaker, Akershus, Norway · 5 investments in Norway Software startups

Ferd er et familieeid investeringsselskap som er eid av femte og sjette generasjon Andresen.

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Investment focus

  • Industry: Energy, Software, Manufacturing
  • Stage:Private Equity, Post-IPO Equity
  • Geography: Norway, Sweden, United States

Investor stats

  • Total investments: 54
  • Round size: Private Equity $11M–$13M; Post-IPO Equity $1M–$38M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — last raise in 2005

Portfolio highlights

  • Ludenso — Ludenso is a software developer of AR solutions for the education industry. To make education more creative and engaging, we are giving editors, authors, and teachers the power to bring their learning resources to life through 3D models, animations, videos, and audio support. This is made possible through the Ludenso Studio, where they can createinclusive learning experiences that enables students to learn in their own way.
  • wheel.me — The first and only autonomous wheel in the world. The innovation transforms anything into an autonomous mobile robot with minimal effort and without the need to alter its design or form. The company was founded in 2013 and is headquartered in Oslo, Norway.
  • Nofence — Nofence is a system virtual fencing for grazing animals. Virtual fencing of livestock has been a concept long discussed in academia. The Norwegian ag-tech startup Nofence has since 2011 developed and patented a solution for virtual fencing that has proven to work. The customers say that this will become a real gamechanger for livestock managementsince pastures can easily be defined by a few clicks on a tablet/smartphone. The herd is then safely fenced in and can be monitored. The system will send notifications if something happens. From the global food security perspective, this solution will make it much easier to utilize the uncultivated land for varied and healthy pasture, and make it possible to produce more food on cultivated land.
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TeleVenture Management
VC Fund · Oslo, Oslo, Norway · 4 investments in Norway Software startups

Making Venture Happen. Televenture is one of the leading venture capital companies in Norway.

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Investment focus

  • Industry: Manufacturing, Software, Information Technology
  • Stage:Seed, Series A
  • Geography: Norway, United States

Investor stats

  • Total investments: 26
  • Lead/follow: 65% lead, 35% follow
  • Last fund: May invest from a new fund soon — last raise in 2014

Portfolio highlights

  • CrayoNano — CrayoNano is a next generation semiconductor company. We specialize in nanotechnology that will enable a more sustainable and healthier life for tomorrow.
  • Genetic Analysis — Genetic Analysis AS (GA) has the goal of being a leader within the field of molecular diagnostics of diseases related to gut imbalances. By utilizing the DNA-based GA-map™ array technology, profiles of a patient’s gut microbiota is quickly generated and can be related to various health conditions. Genetic Analysis has developed a DNA-basedtechnology platform that allows for simultaneous analysis of a large number of similarities (but not identical) gene fragments in one reaction. The company’s focus is to utilize this technology platform to identify variations in the hundreds of different bacteria that exist in the gut (large and small intestine). The GA - map makes it possible, for the first time, to offer a diagnostic solution – including early detection - for many diseases that are affected by imbalances in the gut microbiota. Genetic Analysis will offer kits and services for a wide range of applications.
  • Stingray Marine Solutions — Stingray Marine Solutions is a Norwegian technology firm that produces a laser unit which, when lowered into salmon farming pens, kills sea lice. It is based on entrepreneur Esben Beck’s patented idea in 2010 for salmon louse removal using camera vision and laser. It all started with Esben Beck and a lathe in his basement in 1999. After more than10 years of deliveries to oil, gas and offshore companies, he decided to invest in his own products. He decided to found and develop his own salmon louse project, where design, production, software development, testing, and installation were carried out by using in-house resources.Stingray is based in Oslo, Norway.
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Speedinvest
VC Fund · Vienna, Wien, Austria · 4 investments in Norway Software startups, 53 in the past 12 months

Speedinvest is one of Europe’s most active early-stage investors, with more than €1bn AUM, 40 investors, and offices in Berlin, London, Munich, Paris, Vienna and San Francisco. Your success is our priority, so we don’t just send some money and "check in" at board meetings. Our mission is to empower you with game-changing support throughevery stage of your journey. Our focused investment teams know your industry inside and out. Their Deep Tech, Fintech, Industrial Tech, Network Effects, Digital Health and Subscriptions experience, know-how and deep networks are yours from day one. You also have full access to our in-house Platform+ team of operational experts who can provide tailored growth marketing, people (HR), US business development, and networking support throughout every stage of your journey.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Germany, United Kingdom, Austria

Investor stats

  • Total investments: 390
  • Round size: Seed $536k–$6.5M; Pre-Seed $396k–$1.9M; Series A $1.4M–$50M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • autone — Autone is a SaaS operational platform enabling retail & CPG businesses to make optimal decisions easily and quickly
  • Genie — Genie is a productive web development framework in Julia. Build web applications, UIs, backends, integrate with databases, set up web services and APIs.
  • Purpose Green — Purpose Green operates as a climatetech company.
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Concentric
VC Fund · London, England, United Kingdom · 4 investments in Norway Software startups

We partner with sector-defining founders across Europe to create new technologies that disrupt the status quo and solve the problems that matter.

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Investment focus

  • Industry: Financial Services, Software, E-Commerce
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, Norway

Investor stats

  • Total investments: 69
  • Round size: Seed $857k–$4.6M; Series A $1.7M–$13M; Series B $1.2M–$225M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • Relai — Relai is a Bitcoin investment app that allows anyone to buy bitcoin within one minutes or set up an automated savings plan.
  • ThingTrax — Realise improved efficiency, quality control, employee safety and productivity by modernising your factories with ThingTrax's AI and IoT
  • Superscript — Specialist insurance advice for digital businesses and emerging risk. Get business insurance that's as cutting edge as you are. Book a call.
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Voyagers
VC Fund · 3 investments in Norway Software startups, 6 in the past 12 months

VOYAGERS organises by-invitation adventures designed to build close connections between exceptional people, with the goal of accelerating positive impact. Relationships deepen through our regular video calls, group chats and in-person dinner salons.

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Investment focus

  • Industry: B2B, Biotechnology, Machinery Manufacturing
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: United Kingdom, Norway, Sweden

Investor stats

  • Total investments: 11
  • Round size: Seed $1.5M–$1.9M; Convertible Note $3.5M–$5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Farmless — A farmless fermentation platform has the potential to create an entirely new food repertoire, producing proteins, carbohydrates, beneficial fats, vitamins, and minerals from the ground up," explained Oner. "We are creating a new interface between food and electricity by domesticating microbes chosen for their food properties and abilityto grow on renewable energy-based feedstocks.
  • Glowb — Looking for trusted solar panel installers and solar battery installers in Central England? We can help homeowners transition to solar energy.
  • Cardino — Cardino - Verkaufen Sie Ihr E-Auto digital zum besten Preis. Entdecken Sie die einfache und bequeme Art, Ihr Elektroauto online zu verkaufen.
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Founders Fund AS
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Software startups

Founders Fund AS is a venture capital firm based in Oslo. Founders Fund AS offers investment management, advisory, and other related services. Founders Fund serves customers in Norway.

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Investment focus

  • Industry: B2B, SaaS, Internet
  • Stage:Seed
  • Geography: Norway, United States

Investor stats

  • Total investments: 4
  • Lead/follow: no public data

Portfolio highlights

  • Scrimba — Scrimba is a fun and fast way of learning to code! Our interactive courses and tutorials will teach you React, Vue, Angular, JavaScript, HTML, CSS, and more.
  • Confrere — Confrere is a video meeting and conferencing platform for professionals. The video chat solution was developed specifically for doctors, tutors, banks, psychologists, recruiters, personal trainers, and their clients in mind.The video conferencing solution was developed by Svein Willassen, Dag-Inge Aas, and Ida Aalen with a concept of buildingvirtual clinics for professions like doctors and bankers through video solutions, so they can meet their clients without actually meeting them.
  • AblePay Technologies — AblePay Technologies was founded in 2009 as a spin-out from the Research Department of Telenor, and the technology has been developed in close collaboration with SINTEF, the largest independent research organisation in Scandinavia.
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MP Pensjon
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Software startups

MP Pensjon is a privately owned investment manager.

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Investment focus

  • Industry: Software, SaaS, AgTech
  • Stage:Seed, Series A
  • Geography: Norway

Investor stats

  • Total investments: 4
  • Lead/follow: no public data

Portfolio highlights

  • Farmforce — TECH THAT MAKES A DIFFERENCE
  • Pistachio — Don't let cyber threats hold you back. Pistachio empowers individuals and organizations with the confidence and skills to stay safe in the digital world.
  • 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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The Nordic Web Ventures
VC Fund · Copenhagen, Hovedstaden, Denmark · 3 investments in Norway Software startups

The Nordic Web Ventures is an Angel Fund run by Neil S W Murray, backed by 50+ community builders, entrepreneurs and investors passionate about supporting early-stage Nordic startups.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Pre-Seed, Seed, Angel
  • Geography: Denmark, Norway, Sweden

Investor stats

  • Total investments: 20
  • Round size: Seed $250k–$1.5M; Angel $300k–$360k; Pre-Seed $250k–$1.1M
  • Lead/follow: 5% lead, 95% follow
  • Last fund: May invest from a new fund soon — raised $1.5M in 2019

Portfolio highlights

  • Steep — The modern analytics platform powered by metrics.
  • All Gravy — Butter gives you happier employees, by reducing their financial stress and giving them an understanding of their salary and financial situation
  • Platypus — Grow your culture. Backed by data. Platypus is the HR and recruitment tool that measures cultural drivers of people across the organization to help you qualify decisions on hiring and managing your culture.
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Blue Bear Capital
VC Fund · Beverly Hills, California, United States · 3 investments in Norway Software startups, 9 in the past 12 months

Blue Bear Capital is a venture capital investor supporting companies that apply AI and data-driven technologies to energy infrastructures. The firm specializes in the fields of venture capital, financial services, and clean energy investments. It was founded in 2016 and headquartered in Beverly Hills, California.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Seed
  • Geography: United States, Canada, Norway

Investor stats

  • Total investments: 53
  • Round size: Seed $2M–$3.5M; Series A $4M–$15M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • TruckLabs — We create hardware and software products for semi trucks that make a positive impact on carbon reduction and fuel efficiency. Formerly Xstream Trucking.
  • Delos Insurance — An insurance company which uses advanced technology and artificial intelligence to protect California homeowners from wildfires.
  • ACCURE Battery Intelligence — Accure is a battery analytics company. The software and AI-driven solution assist manufacturers and operators in monitoring the overall health and safety conditions of a battery system throughout its lifecycle.
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Valinor AS
VC Fund · Stavanger, Rogaland, Norway · 3 investments in Norway Software startups

Established in 1996 as Norsk Vind AS, re-branded Valinor AS in 2019, the company is a family owned investment firm that holds controlling interest in Norsk Vind Energi AS, Norway's largest private wind company. The company re-invests 90% of its profits into clean tech and renewable energy companies worldwide. Its largest investments includeglobal leader in electricity infrastructure Zaptec, and solar energy developer Norsk Solar AS.

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Investment focus

  • Industry: Renewable Energy, Robotics, SaaS
  • Stage:Seed, Series A
  • Geography: Norway, United Kingdom

Investor stats

  • Total investments: 8
  • Round size: Seed $1.8M–$2.3M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • 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.
  • Heaten — HeatBooster - Patented high-temperature heat pump technology reducing the reliance on fossil fuels by creating reusable energy.
  • 1X — At Halodi Robotics we are passionate about robots. Our mission is to bring capable humanoid robots to everyone. We develop safe, capable and affordable robots that help human beings live better lives!
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TRK Group
VC Fund · 3 investments in Norway Software startups

An Oslo-based Advisory and Active Ownership Firm.

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Investment focus

  • Industry: Artificial Intelligence, SaaS, Internet
  • Stage:Pre-Seed, Seed
  • Geography: Norway, Kenya

Investor stats

  • Total investments: 5
  • Round size: Pre-Seed $400k–$510k
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • NoMy — Norwegian startup that researches and develops sustainable material and food solutions using mycelium
  • Vilect AI — Vilect is a recruitment software for store managers. The system identifies the most relevant candidates and lets the hiring manager screen recorded video interviews integrated directly into the system - store managers can see their fit, personality, drive, and motivation and save time and money.
  • Travelin.ai — Business and Leisure travel no longer just exist in silos but are intertwined. Travelin.ai is the Next Generation Corporate Travel Management Platform which reflects the true way we live, work and travel.
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Point Nine
VC Fund · Berlin, Berlin, Germany · 3 investments in Norway Software startups, 10 in the past 12 months

Point Nine Capital is a Berlin-based venture capital firm focused exclusively on early-stage Internet investments in areas like Software-as-a-Service (SaaS), online marketplaces, and mobile.The fund and its managers, Pawel Chudzinski and Christoph Janz have backed a number of highly successful Internet companies such as Delivery Hero, Clio,Shiftplanning, Vend, Typeform, and Zendesk from their earliest stages.

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Investment focus

  • Industry: Software, SaaS, Internet
  • Stage:Seed, Series A, Series B
  • Geography: Germany, United States, France

Investor stats

  • Total investments: 214
  • Round size: Seed $800k–$4M; Series A $1.6M–$24M; Series B $6M–$40M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $193M in 2022

Portfolio highlights

  • Sereact — Discover the world's easiest pick-and-pack automation solution. Significant cost savings, productive 24/7, deployment in one day and no training required.
  • Grasp — Grasp mission is to increase the rate at which humans learn.
  • Amperecloud — ampere.cloud is Renewables & Environment company
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Statkraft Ventures
VC Fund · Düsseldorf, Nordrhein-Westfalen, Germany · 3 investments in Norway Software startups

Statkraft Ventures is a long-term partner for entrepreneurs disrupting the energy sector.

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Investment focus

  • Industry: Software, Big Data, Information Technology
  • Stage:Series A, Series B
  • Geography: Germany, France, Norway

Investor stats

  • Total investments: 36
  • Round size: Series A $3.2M–$7M; Series B $8M–$19M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: May invest from a new fund soon — last raise in 2015

Portfolio highlights

  • Hydrosat — Hydrosat provides daily, high-resolution thermal and multispectral infrared imagery of the entire Earth. Leveraging our first-in-history thermal capabilities, we also provide analytics solutions to solve climate and agriculture issues.
  • Metaloop — Metaloop is a scrap trading company that helps businesses from the metal recycling industry to boost revenue without scaling.
  • Efficient Energy Technology — Photovoltaik mit Speicher zum Einstecken in der Steckdose - Mit deinem Balkonkraftwerk von EET produzierst du eigenen Sonnenstrom.
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Stratel
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Software 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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Kistefos Venture Capital
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Software startups

Kistefos focus on investing between NOK 10m and NOK +100m in each company, aiming at obtaining a significant ownership stake. Kistefos is opportunistic with regards to sectors, company sizes, life-cycle stages and geographies. Kistefos’ investment strategy selectively seeks out a diverse range of proprietary transactions in companies of varioussizes, including build-ups, growth capital, rescue financings and buyouts.Kistefos is an active partner to the management teams and founders, providing considerable internal resources to ensure the long-term value creation through identification of the key value drivers. Furthermore, we operate under a flexible investment mandate, giving us the opportunity to optimally support our portfolio companies throughout our ownership period.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Seed, Series A
  • Geography: Norway, Singapore, Sweden

Investor stats

  • Total investments: 17
  • Round size: Seed $700k–$1.5M
  • Lead/follow: 59% lead, 41% follow

Portfolio highlights

  • Surer — Surer is a cloud-based insurtech platform with a digital ecosystem of intermediaries and insurers. It provides tech solutions to help orchestrate the network in the insurance industry enabling insurance intermediaries to close deals with greater speed and allows insurers to distribute their product with better efficiency.
  • Workclass — Apply for any jobs and get hired in 24 hours now!
  • bluesheets — Build a solid data foundation with Bluesheets, the all-in-one tool that connects, categorises and automates your finanical data. Set up once, automate forever.
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Norselab
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Software startups

Norselab is a leading European impact investment house. We are dedicated to proving that impact is the future of investing across asset classes.

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Investment focus

  • Industry: Software, SaaS, Analytics
  • Stage:Seed, Series A
  • Geography: Norway, Switzerland, United States

Investor stats

  • Total investments: 15
  • Round size: Seed $500k–$6.4M; Series A $1.9M–$14M
  • Lead/follow: 27% lead, 73% follow

Portfolio highlights

  • Beefutures — Beefutures combines biotechnology and data science and develops beekeeping tools. Our approach is to improve bee health and safety first and further optimise beekeeping operations and economics with digital tools.
  • imove — Een abonnement op een auto geeft je dezelfde vrijheid als autobezit. Je kan er in rijden zoveel en zo ver je maar wilt. Bij imove heb je na de minimaal gekozen contractduur de vrijheid om je abonnement op te zeggen wanneer je maar wilt. Je hoeft je geen zorgen te maken over onverwachte kosten of waardeverlies. Die stress is voor ons. Onze abonnementen zijn all-inclusive, met als resultaat: een waanzinnig comfort, exclusief voor jou.
  • Wanda — Lageret som henter og leverer hjemme. Rimelig, trygt, enkelt!
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SINTEF Venture AS
VC Fund · Trondheim, Sor-Trondelag, Norway · 3 investments in Norway Software 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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Vinyl Capital
VC Fund · Boston, Massachusetts, United States · 2 investments in Norway Software startups

Investing in the future of how people buy stuff.

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Investment focus

  • Industry: E-Commerce, Software, Analytics
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, India, Canada

Investor stats

  • Total investments: 20
  • Round size: Seed $4M–$8M; Series A $6M–$25M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely still investing — fund raised in 2021

Portfolio highlights

  • Koverly — Leading B2B global payments solution that provides flexible options to pay over time and saves businesses up to 50% on foreign exchange fees.
  • Two Boxes — The future of sustainable e-commerce returns has arrived. Two Boxes is the best way to process returns and capture critical data from the returns process.
  • Treat — Treat is a customer acquisition channel that delivers leads to e-commerce brands.
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Nunchi
VC Fund · 2 investments in Norway Software startups

Nunchi is a real estate investor.

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Investment focus

  • Industry: Security, Software, Information Technology
  • Stage:Seed
  • Geography: Norway

Investor stats

  • Total investments: 2
  • Lead/follow: no public data

Portfolio highlights

  • Defigo — Defigo specializes in systems for apartment and office buildings that provide convenience, security, and technology. Its smart home solution includes entry control and visitor management systems. The company was founded in 2014 and is headquartered in Oslo.
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Simula Innovation
VC Fund · Fornebu, Akershus, Norway · 2 investments in Norway Software startups

Simula Innovation is an early-stage technology investor.

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Investment focus

  • Industry: Software, Machine Learning, Artificial Intelligence
  • Stage:Pre-Seed
  • Geography: Norway

Investor stats

  • Total investments: 2
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Völur — Ensuring optimal use of every single animal through cutting and processing.
  • Savvie — Savvie is your sales forecasting tool, waste tracking tool, sold-out tracker, ordering solution, product manager and analytics dashboard all in one intuitive app. We help you reduce food waste while maximizing sales with our one-click solution for store management.
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MP Pension
VC Fund · Gentofte, Hovedstaden, Denmark · 2 investments in Norway Software startups

Velkommen til AkademikerPension. Tryghed til dig og din familie.

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Investment focus

  • Industry: Information Technology, Software, Apps
  • Stage:Seed, Series A
  • Geography: Norway

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Exie — Unlock clear insights and make better-informed decisions with intelligent planning, budgeting and forecasting.
  • Aprila Bank — Aprila is a product- and technology company offering innovative financial solutions to small and medium sized businesses. Aprila’s API-based technology platform is connected to around 130,000 SMEs through partnership agreements with leading online accounting systems and other relevant system providers.
  • Defigo — Defigo specializes in systems for apartment and office buildings that provide convenience, security, and technology. Its smart home solution includes entry control and visitor management systems. The company was founded in 2014 and is headquartered in Oslo.
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Digital Currency Group
VC Fund · Stamford, Connecticut, United States · 2 investments in Norway Software startups, 17 in the past 12 months

We are the capital engine supporting emerging talent & crypto technology. On its mission to accelerate the development of a better financial system.

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Investment focus

  • Industry: Blockchain, FinTech, Cryptocurrency
  • Stage:Seed, Series A
  • Geography: United States, United Kingdom, Singapore

Investor stats

  • Total investments: 218
  • Round size: Seed $500k–$5.3M; Series A $2.5M–$20M
  • Lead/follow: 9% lead, 91% follow

Portfolio highlights

  • Axoni — Axoni is a New York-based capital markets technology firm that specializes in distributed ledger infrastructure. Product offerings include blockchain deployments, large-scale data management, bespoke smart contract development, analytics services, and connectivity tools.
  • AlloyX — AlloyX makes it simple and accessible for protocols, DAOs, and institutional investors to create diversified RWA investment strategies. We provide lenders with a flexible and efficient platform for managing all of their RWA assets based on their yield, risk, and liquidity preferences.
  • Coinflow Labs — Coinflow is a payment solution that allows Web3 companies to accept traditional payment methods and payout their customers by converting cryptocurrency to USD in their traditional bank account.
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Amadeus Ventures
VC Fund · Madrid, Madrid, Spain · 2 investments in Norway Software startups

Amadeus Ventures is the strategic funding program from Amadeus to invest in early stage startups focusing on the travel industry.

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Investment focus

  • Industry: Software, Travel, Mobile
  • Stage:Seed, Series A
  • Geography: United States, Spain, Canada

Investor stats

  • Total investments: 10
  • Round size: Series A $6M–$15M
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Busbud — Travel the world by bus. Compare and easily book bus tickets from thousands of bus companies for your next destination with Busbud.
  • CHOOOSE — CHOOOSE builds digital tools so that everyone, anywhere, can easily integrate climate action into everyday life and business.
  • Eccocar — Launch, operate and scale your digital shared mobility services. Technology that takes mobility to the next level!
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ETF Partners
VC Fund · London, England, United Kingdom · 2 investments in Norway Software startups, 9 in the past 12 months

ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Its funds come from institutional investors, global corporations, and family offices. The firm creates value by investing in and supporting great European companies that deliver Sustainability Through Innovation.

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Investment focus

  • Industry: Software, Renewable Energy, SaaS
  • Stage:Series A, Series B
  • Geography: United Kingdom, France, Norway

Investor stats

  • Total investments: 66
  • Round size: Series A $6M–$13M; Series B $5.4M–$11M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Flyability — Flyability is an EPFL spin-off dedicated to creating safe, collision-tolerant robotics to access inaccessible places, replacing dangerous human operations with unmanned devices.
  • Worldsensing — Welcome to the home of IoT wireless monitoring for critical infrastructures. Find out how we use technology to improve your safety every day.
  • Dexter Energy Services — Forecast & Trade Optimization. Powered By A.I.
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Verdane
VC Fund · Oslo, Oslo, Norway · 2 investments in Norway Software startups, 8 in the past 12 months

The preferred growth partner to tech-enabled businesses in Northern Europe.

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Investment focus

  • Industry: E-Commerce, Software, Information Technology
  • Stage:Private Equity, Series A
  • Geography: Sweden, Norway, Germany

Investor stats

  • Total investments: 117
  • Round size: Series A $4.4M–$28M; Private Equity $10M–$100M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Blinto — Blinto offers an online auction platform that offers both sellers and buyers the opportunity to meet via a complete online auction service. The products primarily auctioned on its websites are construction machines, commercial vehicles, and tools.
  • Verified — Verified specializes in providing services for electronic signing, identification, anti-money laundering and API integration solutions.
  • Urban Volt — UrbanVolt makes sustainability easy via our unique light as a service model. They retrofit commercial premises with led lighting for no upfront cost. Their unique light as a service business model allows their clients to enjoy cash and energy savings from the moment of installation. They created this company and capex-free model because theybelieve businesses should not bear the financial risk of energy reduction projects. Their commitment to maintaining light fittings makes sustainability easy.
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Dragonfly
VC Fund · San Francisco, California, United States · 2 investments in Norway Software startups, 25 in the past 12 months

A cross-border cryptoasset investment firm. Global from day one.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Financial Services
  • Stage:Seed, Series A
  • Geography: United States, Hong Kong, Singapore

Investor stats

  • Total investments: 126
  • Round size: Seed $1.6M–$10M; Series A $6M–$35M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Florida Street — PIXEL GG INC.
  • JDI Global — JDI Global is a Web3 hardware manufacturer.
  • Econia Labs — Say hello to Econia: the high-performance on-chain order book for the Aptos blockchain. Built for equitable, global market access and engineered for composability, Econia is the settlement layer for Aptos DeFi.
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Viking Venture
VC Fund · Trondheim, Sor-Trondelag, Norway · 2 investments in Norway Software startups

Viking Venture (The Nordic software investor) - We invest in fast-growing B2B software companies in the Nordics.

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Investment focus

  • Industry: Oil and Gas, Software, Energy
  • Stage:Series A, Series B
  • Geography: Norway, United States, United Kingdom

Investor stats

  • Total investments: 9
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Zilift Limited — Zilift was established in May 2009 exclusively to develop and market permanent magnet technologies for innovative artificial lift applications.
  • MemfoACT — MemfoACT has proprietary technology for upgrading of biogas and separation of other gases. MemfoACT AS was founded in August 2008, as a joint venture between NTNU Technology Transfer (TTO) and the entrepreneurs professor May-Britt Hägg, PhD Jon Arvid Lie and PhD Arne LindbrÃ¥then. The company core business is gas purification, with focus on biogasupgading to fuel quality using a novel carbon molecular sieve membrane. This membrane is capable of performing the separation to spec with acceptable recovery in a single stage setup. This gives this membrane a significant advantage in this process compared with competing polymer membranes.
  • ExproSoft — ExproSoft is a software & consultancy company increasing well uptime for oil & gas operators. They deliver solutions that allow the operators to understand the failures and risk of well equipment, and use this knowledge to reduce intervention cost and increase production throughout the wells’ life cycle.
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Entrée Capital
VC Fund · London, England, United Kingdom · 2 investments in Norway Software startups, 9 in the past 12 months

We're a team of former serial founders managing over $1B across a number of funds, with offices in Tel Aviv, London, and New York.

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Investment focus

  • Industry: Software, Financial Services, FinTech
  • Stage:Seed, Series A, Series B
  • Geography: United States, Israel, United Kingdom

Investor stats

  • Total investments: 203
  • Round size: Seed $1M–$12M; Series A $3.7M–$25M; Series B $7.8M–$50M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Cypago — End-to-end intelligent compliance solution for any security standard including SOC 2, ISO 27001, SOX-ITGC, and HIPAA
  • Swapp — Real estate developers, architects and engineers use Swapp to design buildings in a smart, flexible and efficient process.
  • NVision Imaging Technologies — NVision Imaging Technologies is leveraging advances in quantum physics to enable the first routine, convenient and affordable use of Magnetic Resonance Imaging (MRI) for assessing early patient response to cancer treatment at the metabolic level.
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Shell Ventures
VC Fund · Rijswijk, Zuid-Holland, The Netherlands · 2 investments in Norway Software startups, 9 in the past 12 months

Shell Ventures invests in companies to speed up development and deployment of new technologies which complement our business.

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Investment focus

  • Industry: Energy, Renewable Energy, Software
  • Stage:Series A, Series B
  • Geography: United States, United Kingdom, Norway

Investor stats

  • Total investments: 123
  • Round size: Series A $6.4M–$26M; Series B $2.4M–$126M
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • Verdagy — Verdagy is driving down the investment and energy needed to generate hydrogen for industry using electrolysis. We engineer and manufacture innovative electrolyzers that scale to gigawatt production facilities.
  • Avnos — Our HDAC solution offers the broadest geographic potential available, enabling our technology to operate in water-scarce environments.
  • Kraftblock — Kraftblock is a high-efficiency, high-temperature heat storage system designed to decarbonize power generation and industrial processes.
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Boost VC
VC Fund · San Mateo, California, United States · 2 investments in Norway Software startups, 18 in the past 12 months

Boost VC: The Pre-Seed Fund Making Sci-FI a Reality. Investing in crypto, virtual reality, augmented reality, AI, Ocean Tech, Space Tech, human augmentation, exoskeletons and more.

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Investment focus

  • Industry: Software, Virtual Reality, Blockchain
  • Stage:Seed, Pre-Seed
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 168
  • Round size: Seed $405k–$4.4M; Pre-Seed $70k–$2.1M
  • Lead/follow: 17% lead, 83% follow
  • Last fund: Likely still investing — raised $100M in 2022

Portfolio highlights

  • TRL11 — Addressing the most demanding technological challenges and opportunities arising from the rapid growth of space-based assets.
  • ResearchHub — We're a community seeking to improve prioritization, collaboration, reproducibility, and funding of scientific research. Discuss and discover academic research on ResearchHub
  • Train Fitness — Train Fitness focuses on automatic exercise detection and rep counting using Artificial Intelligence and the Apple watch.
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Loyal VC
VC Fund · Toronto, Ontario, Canada · 2 investments in Norway Software startups, 12 in the past 12 months

Loyal runs a global venture fund with quarterly redemptions and a proprietary gate-stage process, reducing investment bias and unlocking greater returns. Partnered with INSEAD, Founder Institute, and 500+ advisors, we are Loyal to the world with 250+ investments in 50+ countries.

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Investment focus

  • Industry: Software, Artificial Intelligence, E-Commerce
  • Stage:Pre-Seed, Seed
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 129
  • Round size: Seed $78k–$2.5M; Pre-Seed $110k–$900k
  • Lead/follow: 14% lead, 86% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • InSyBio — A disruptor to Precision Medicine and Nutrition through biomarker discovery.
  • ZestIOT — ZestIOT is an IoT & AI enabled aviation platform to integrate passenger, baggage, aircraft, ground & airport operations.
  • Wellx — Turn your health into currency. At Wellx, we're focused on making you healthier. Insurance helps us make it happen.
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Multicoin Capital
VC Fund · Austin, Texas, United States · 2 investments in Norway Software startups, 10 in the past 12 months

Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets.

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Investment focus

  • Industry: Blockchain, Cryptocurrency, Software
  • Stage:Seed, Series A
  • Geography: United States, Singapore, Switzerland

Investor stats

  • Total investments: 129
  • Round size: Seed $1.1M–$15M; Series A $6.3M–$30M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Fhenix — End-to-End Encrypted Web3 Fhenix is the first blockchain powered by fully homomorphic encryption to bring Computation Over Encrypted Data to EVM smart contracts Join us Learn more A new, encrypted web is waiting for you Truly functional markets require end-to-end encryption. Fhenix rises to the challenge by unlocking unprecedented encryption capabilities in the public blockchain
  • Tableland — A 3k generative NFT built from 1,074 handcrafted works of art for the builders and creatives of cyberspace.
  • FastLane — FastLane is an easy to integrate protocol that rewards participating validators for protecting the health of the Polygon blockchain.
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Iron Wolf Capital
VC Fund · Vilnius, Vilniaus Apskritis, Lithuania · 2 investments in Norway Software startups

We are here to make you succeed! Iron Wolf Capital is an international venture capital firm with an experienced team of professionals with global outlook and strong roots in the Baltics. and a mandate for helping entrepreneurs realise their ideas into successful businesses.

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Investment focus

  • Industry: Software, Infrastructure, Manufacturing
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Lithuania, Estonia, United Kingdom

Investor stats

  • Total investments: 28
  • Round size: Seed $321k–$1.9M; Pre-Seed $120k–$943k; Series A $4.6M–$6.9M
  • Lead/follow: 61% lead, 39% follow

Portfolio highlights

  • Speiz — Speiz is a platform that enables revenue generation and sales for companies through the renting of warehousing space.
  • Traxlo — We are at the technology and retail industries intersection. Our longtime experience in the industry taught us that only the right innovation has the potential to make a positive impact. Thus we aim to make our solutions as seamless as possible to be able to add only benefits to every worker who uses our apps and to every retail store manager whohas lots on her plate, day in, day out.
  • Repsense — Repsense is a data company that mimics user journeys and predicts reactions to content found in search results pages. any of the clients can use the Repsense Index to quickly assess their reputation and compare it to competitors across different geographies and user intents.
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Butterfly Ventures
VC Fund · Oulu, Oulu, Finland · 2 investments in Norway Software startups

Butterfly Ventures is a seed-stage focused VC in the Nordics, investing in deep tech, hardware, and hardware interfacing software. The company prefers to get involved with companies early on; 80% of Butterfly Ventures portfolio companies don't have any revenue at the time of their entry. Butterfly Ventures was founded in 2012 and ever sincethen it has been one of the most active early stage VCs in the region. The company has offices in Oulu, Helsinki and Stockholm.

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Investment focus

  • Industry: Health Care, Software, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Finland, Sweden, Norway

Investor stats

  • Total investments: 69
  • Round size: Seed $214k–$2M
  • Lead/follow: 41% lead, 59% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Reactional Music — GESTRUMENT is the revolutionary gesture based instrument.
  • EmbeDL — Efficient Deep Learning for Embedded Systems
  • Retein — Aquammodate is a greentech company that produces highly pure water at minimum energy cost.
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Wiski Capital
VC Fund · 2 investments in Norway Software startups

Venture capital firm focused on tech startups.

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Investment focus

  • Industry: Software, AgTech, Energy
  • Stage:Seed
  • Geography: Norway

Investor stats

  • Total investments: 6
  • Round size: Seed $1.1M–$7.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Evyon — Eyvon is an electrical company that provides EV battery solutions to accelerate into a fully renewable future for everyone. The company's proprietary hardware and Battery Cloud ecosystem enable the conversion of EV batteries into high-quality, affordable, and plug-and-play battery energy storage systems.Eyvon's mission is to convertbattery waste into high-quality battery systems by repurposing discarded EV batteries. By leveraging a standardized and data-driven value chain, their ambition is to provide solutions at less than half the price of new ones.It was founded in 2020 and is based in Oslo, Norway.
  • Waved — We are changing the way people think of guest experience with technology that senses and elevates the ambience.
  • Glint Solar — Enabling developers to identify and analyze the best solar sites
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Software VC funding in Norway at a glance

Stats across 234 deals from 224 investors.

224
investors
in Norway Software startups
234
deals
in Norway Software startups
$1.8M
median round
in Norway Software startups
37%
lead investors
lead at least one round
32%
Seed
most common funding stage

Access all 224 VC funds in Norway Software startups.

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