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Norway #25: Sandwater’s closes fund of 1.4 billion NOK, Norwegian Robotics 1X raises $100 million & We Are Learning raises €3 million.

By 19 January 2024February 12th, 2024No Comments4 min read

Top News

1. Kjetil Holmefjord’s recap of 2023. As anticipated, the negative trend continued from 2022, but he predicts the market will recover slowly, and possibly sooner than anticipated. (link)
2. 20 founders have formed an interest group to build a baseline framework for a startup political organization. The goal is to bring in more founders and establish the organization by the end of Q1. (link)
3. Ten startups pitched in Trondheim at Demo Night during the Venture conference. (link)
4. StartupLab is looking to raise between 300 and 500 million NOK for Fund V. (link)
5. byFounders’ 2023 report on the New Nordics shows that the New Nordics remains an attractive location for non-New Nordic VCs and investors. Read their findings here. (link)
6. Interview with Trond Riiber Knudsen on his take on investment opportunities in Northern Norway. (link)
7. Stack by me plans to be listed on the stock exchange towards the end of 2024 or the beginning of 2025. (link)
8. In March Slush’d Energy will be hosted in Mandal, and they announced 1X will be attending with their android robots. (link)
9. Uli Grabenwarter, Director of Equity Investment at the EIF believes European VCs will need to start investing soon. Find the full interview with Sifted here. (link)
10. OpenAI launched its GPT store where you can browse the store for custom chatbots that provide a wide range of services. (link)

Latest on Funding

💰 Sandwater raised 1.4 billion NOK for their early-stage venture fund, from EIF, First Swedish National Pension Fund (AP1), LGT, Nysnø, Investinor, family offices of Canica and Lærdal and others. (link)

🦾 1X Technologies raised $100 million Series B led by EQT Ventures and joined by Sandwater, Samsung NEXT, Skagerak Capital and Nistad group. (link)

💰 Danish VC Kost Capital closed its first fund of €25 million, planning to invest in pre-seed and seed startups across Europe focusing on the future of food. (link)

📚 We Are Learning , an edtech startup, raised €3 million led by Dreamcraft Ventures, and joined by existing investors Sondo Capital and Skyfall Ventures. (link)

⚡️ Opt-e, energy optimization startup, raised 33 million NOK and acquired Clevair, a proptech company. (link)

🧠 Hemi Health, helping people with headaches, raised 24 million NOK from Crowberry Capital, Alliance VC, Sondo Capital, Sequoia Scout and Founders. (link)

🪱 Invertapro, insect producer focused on sustainability and circular economy practices, raised 16 million NOK through Folkeinvest. (link)

🍗 Völur, a data and AI based technology platform for the meant industry, has so far secured 15.5 million NOK in its current issue from Idékapital, Fusion Fun, Bekk Consulting, Fortress Fund and Saria. (link)

🏠 Plaace, a data platform for commercial real estate companies, raised 10 million NOK from new investor RunwayFBU, along with existing investors OBOS and Blommenholm Industrier. (link)

🦾 Vilje Bionics, developing assistive devices for patients with motor impairment in arms and hands receives 4 million NOK from Innovation Norway. (link)

💻 Kobbr, a digital platform for craftsmen raised an undisclosed amount from Spike Venture. (link)

🛥️ Zeabuz and Evoy join in on a cooperation to develop autonomous electric boats. (link)

Latest on Talent

✉️ New: Headhunter service for founders and startups. (link)

🧠 Camilla Gjetvik will be the new CEO of Intelecy. (link)

⛳️ Jørgen Veiby is Startuplab’s Head of Accelerator. (link)

👩‍💻 Norselab welcomes two new employees, Inès van Tol and Christiaan Griffejoen to the team. (link)

💻 Kindly’s CEO Arash Saidi steps down and Chairperson Gunnar Bjørkavåg will take over. (link)

🐈 After 6 years as CEO at Cosgear, Vilde Bergan has decided to try something new. (link)

🚀 NorNAB appoints Karl Olav Grønland Sørensen as CEO. (link)

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