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Norway #14: Cyber security platform Pistachio secures €3.25 million, new fund launched focused on SaaS companies & H1 2023 state of funding insights at Tech Town Hall #6

By 9 August 2023September 8th, 2023No Comments4 min read

📢 Tech Town Hall #6 & grand re-opening of Mesh Nationaltheatret 🎉

Don’t miss out on the exciting Tech Town Hall #6! Join us on August 23 for a deep dive into the state of funding for Norwegian startups with VCs and investors, including an analysis of H1 2023 from Morten Korsveien from Sandwater. After we will celebrate the grand reopening of Mesh Nationaltheatret, complete with food, drinks, and entertainment!

Join us and sign up here!

Join us on August 23 and sign up here!

Top News

  1. Funding per capita is lower than in the peak years, but there is 10x more funding available compared to 6-7 years ago in Norway. Check out the funding per capita graph by Morten Korsveien (Sandwater). Join us on Aug 23 for more insights by Morten. (link).
  2. How can Norway’s tech companies grow and compete globally? What policies need to be put in place? Join the debate at Arendalsuka next week. (link)
  3. Trond Riiber Knudsen believes that the macro-economy and growth opportunities are creating problems for some entrepreneurs when it comes to raising capital. Read more about it here. (link)
  4. Core Eqty, a new growth fund, raised 500 million NOK and will focus on investing in Nordic SaaS companies. (link)
  5. NTNU and several Norwegian companies are working on creating a Norwegian language model similar to ChatGPT. (link)
  6. Feminvest, Sweden’s largest acceleration hub for female entrepreneurs and investors, is launching in Norway. (link)
  7. McKinsey interviewed Miro founder Andrey Khusid on product-led growth and the importance of experimentation. Worth a read. (link)
  8. Startup Campus is closing down (link)
  9. CV partner, helping companies with a proposal automation solution, expands to Canada. (link)
  10. Oslo Business Region will release a solution in collaboration with Oslo Kommune and others that will decrease waiting time when recruiting outside the EU. (link)

Latest on Funding

🧠 Elon Musk’s brain chip startup Neuralink raised $280 million after securing its first clinical trial. (link)

🌊 Katapult Ocean has invested in their portfolio company Matter which has secured a $10 million Series A, along with SOUNDWaves Holdings, S2G Ventures, and Regeneration.VC. (link)

🖥️ Pistachio, a cyber security training platform formerly known as CYBR, raised €3.25 million led by Signals Venture Capital and joined by existing investors and MP Pensjon. (link)

😄 Semine AI, the automation platform for accounting, raised 30 million NOK from existing owners. (link)

🏠 Proptech company, Really! raised 10 million NOK from existing investors Møller Eiendom and Vestbo Boligbyggelag along with new investor Link Capital. (link)

🛥️ Marine Pro, creating cleaning and treatment system for recreational and work boats, raised 5 million NOK through folkeinvest. (link)

📚 Capeesh gets Gnist Capital and G65 on the ownership through a transaction of 2.75 million NOK to boost sales and marketing. (link)

📱 acquired by Schibsted. Schibsted was already a part of but increased it’s investment from 25% to 90%. (link)

Subtrackr, the B2B SaaS that recently pivoted their product offering, raised 400k NOK. (link)

🏗️ The Coring Company, a software and hardware solutions company in the construction and mining industry, is acquired by Teako Minerals (link)

📚 The edtech Inspera acquires Crossplag, a tool specializing in checking AI authorship, to further its commitment to academic integrity. (link)

🚤 Kruser, the subscription for boat rental, stops operations and renting out boats. (link)

Latest on Talent

🌎 Looking for a new hire? The Hub has got your covered. Sign up here and post your job today. (link)

⭐️ Recruitment company Amby, grew with 100 million in turnover in 2022. Read more on their approach. (link)

✉️ Sensorita, the startup using AI to help the waste industry, brings on two experienced tech profiles from Cognite and Viva Labs to the team (link)

🤝 Emma Tryti joins the Firda board (link)

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