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#12 Norway: Biotech ARTBIO secure $23 Million Seed Round, PortalOne Shortlisted for an Emmy & What’s The Future of Venture?

By 6 July 2023September 8th, 2023No Comments4 min read

We hope you’re enjoying your summer! We’ll be taking some time off as well, so the next edition will return on Thursday 27th July. Have a great break! ☀️

Top News

  1. According to Atomico’s report on the state of European tech, European VCs are outperforming their US counterparts. (link) During Tech Town Hall #6, we will dig deeper into the state of venture. (link)
  2. Trondheim is a thriving hub for startups. In an interview with Thor Richard Isaksen, CEO at 6AM, he shares his perspective on the entrepreneurial journey and the Trondheim area. (link)
  3. Skyfall Ventures, will continue investing at a similar rate as they have been doing so far, with no signs of slowing down. Espen Malmo shares more on their approach. (link)
  4. Norway risks falling behind if the government doesn’t implement tech-focused policies to support growth companies, according to Jo Eikeland Roald from Abelia. (link)
  5. PortalOne’s The Arcade Show is shortlisted for an Emmy! They’ve been nominated for the “Outstanding Emerging Media Program” award. Congratulations to the whole team! (link)
  6. Nicolai Strøm-Olsen suggests that Norwegian companies should establish clusters abroad to boost Norwegian exports, and that Norway should not create obstacles for their return. (link)
  7. Shifter’s analysis of investment rounds show a 35% decrease compared to the same period last year, with fewer larger rounds occurring. (link)
  8. Alma Clean Power announced its breakthrough test in direct ammonia fuel cell system – the first of its kind. (link)
  9. Bioenvision has been selected to join the program MobilityXlab which connects mobility industry leaders with startups, including Volvo, Polestar and Ericsson. (link)
  10. Meta has released Threads, a challenger to Twitter. Within 7 hours of launching, it received 10 million registrations. (link)

Latest on Funding

💰 New investment fund, 3K6, set up by Investinor, KLP and the Norwegian forest industry (through Shelterwood) has a total investment of 300 million NOK from Investinor and KLP. (link)

🫁 Neko Health, co-founded by Daniel Ek raised €60 million Series A, led by Lakestar and joined by Atomico and General Catalyst. (link)

🔬 Biotech startup, ARTBIO raised $23 million in a seed round led by F-Prime Capital and Omega Funds (link)

🛥️ Evoy, electric boat engine builder, raised 75 million NOK led by Axopar and joined by Jakob Hatteland, Johan Brand, Kaptapult Ocean, Klaveness Marine and Grieg Edge. (link)

🚙 Trondelag’s Enua, startup building portable car chargers, raised 32.5 million NOK from Norbit, Proventure and Sarsia (link)

🚜 Viking Arm raised 13.4 million NOK through Folkeinvest, to expand into the market for retractors. This values the company at 60 million NOK after money (link)

🥗 Palett, offering nutritious ready-to-eat food, raised 6.2 million NOK and brought on former managing director of Kolonihagen Christina Finne as chairperson of the board. (link)

🎯 Eduplaytion, edtech startup, receives a grant of 2 million NOK from Innovation Norway, just months after their 20 million NOK investment round. (link)

🏔️ Forte Digital become owners of FRIIO, the app offering service for cabin and holiday home owners. (link)

🖌️ ECIT AS acquires Kreatif, a creative agency from Moss that specializes in online shopping (link)

Latest on Talent

🤘 Find all open positions on our talent platform The Hub. You can find all remote jobs as well as jobs in the Nordics. (link)

🚗 The three founders of Nettbil decide to step out of the company (link)

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