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Top 50 Health Care Startup Investors in Norway (August 2026)

The most active venture capital funds and angel investors investing in Norway Health Care startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Norway Health Care 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
10 Norway, United States, Sweden Series A, Seed Software, Biotechnology, Manufacturing $400k–$25M
Farvatn Venture
VC Fund
7 Norway, United States, United Kingdom Seed, Pre-Seed Software, Artificial Intelligence, Health Care $120k–$7.5M
Skyfall Ventures
VC Fund
5 Norway, Denmark, United States Seed, Pre-Seed Software, Artificial Intelligence, Information Technology $350k–$6.1M
Birk Venture
VC Fund
5 Norway, United Kingdom Seed, Series A Biotechnology, Medical, Health Care $1.2M–$20M
SINTEF Venture AS
VC Fund
4 Norway, United States, United Kingdom Seed, Venture - Series Unknown Manufacturing, Information Technology, Software $160k–$17M
TeleVenture Management
VC Fund
3 Norway, United States Seed, Series A Software, Manufacturing, Biotechnology
Sarsia Seed Management
VC Fund
3 Norway Seed, Series A Biotechnology, Software, Pharmaceutical
Arali Ventures
VC Fund
3 India, United States, Norway Seed, Series A, Pre-Seed Artificial Intelligence, Software, B2B $500k–$36M
Hadean Ventures
VC Fund
3 Norway, Sweden, Austria Series A, Series B Biotechnology, Health Care, Medical $4.3M–$79M
Forbion Capital Partners
VC Fund
3 United States, United Kingdom, The Netherlands Series B, Series A, Series C Biotechnology, Health Care, Medical $16M–$180M
Stratel
VC Fund
3 Norway, United Arab Emirates Seed, Pre-Seed Software, Robotics, Health Care $320k–$3M
Meneldor
VC Fund
2 Norway, Germany, United Kingdom Series A, Seed, Debt Financing Biotechnology, Health Care, Pharmaceutical $2.2M–$65M
Schibsted Growth
VC Fund
2 Sweden, Norway, France Seed, Series A Internet, Financial Services, E-Commerce $93k–$8.4M
Futurum Ventures
VC Fund
2 Norway, Sweden Seed, Pre-Seed, Series A Software, Artificial Intelligence, Energy $4M–$5M
Antler
VC Fund
2 Singapore, Australia, United Kingdom Pre-Seed, Seed, Series A Software, Artificial Intelligence, Information Technology $100k–$29M
Canica
VC Fund
2 Norway, Denmark, Singapore Private Equity, Series A, Venture - Series Unknown Biotechnology, Beauty, Retail $7M–$29M
Sarsia
VC Fund
2 Norway, Sweden, Finland Seed, Pre-Seed, Series A Software, SaaS, Sensor $625k–$81M
CCAP Investments & Advisory
VC Fund
2 Norway, Austria Series A, Series B Finance, Leasing, Payments
BIF Partners
VC Fund
2 Germany, Israel, Norway Seed, Convertible Note, Pre-Seed Health Care, Biotechnology, Therapeutics $1.3M–$2M
Sandwater
VC Fund
2 Norway, Germany, France Series A, Seed AgTech, Medical, Agriculture $8.5M–$24M
M Ventures
VC Fund
2 United States, United Kingdom, Switzerland Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $2.4M–$100M
Link Venture Capital
VC Fund
1 Norway, United Kingdom, The Netherlands Pre-Seed, Seed, Venture - Series Unknown Renewable Energy, Marine Technology, SaaS $400k–$4.3M
Advent Life Sciences
VC Fund
1 United States, United Kingdom, France Series A, Series B Biotechnology, Health Care, Medical $5.5M–$97M
CoFounder
VC Fund
1 Norway Seed, Series A Industrial, Manufacturing, SaaS $956k–$2.3M
Glastad Invest
VC Fund
1 Norway Health Care, Biotechnology, Clinical Trials
HealthCap
VC Fund
1 United States, Sweden, France Series B, Series A Biotechnology, Health Care, Medical $5.7M–$92M
SpareBank 1
VC Fund
1 Norway Post-IPO Debt, Debt Financing SaaS, Solar, Robotics
SHS Capital
VC Fund
1 Germany, Switzerland, France Series B, Series C Health Care, Medical Device, Medical $4.9M–$60M
Bakken & Baeck
VC Fund
1 Norway Seed, Angel Chemical, Software, Life Science
PAACS Invest AS
VC Fund
1 Norway Seed Consulting, Health Care, Biotechnology
Nordic Impact
VC Fund
1 Norway Seed Chemical, Life Science, Visual Search
Calvin Ayre
Angel
1 United States, United Kingdom, Canada Seed, Venture - Series Unknown Blockchain, Information Technology, Bitcoin $363k–$4.4M
DNB
VC Fund
1 Norway, Sweden, United Kingdom Post-IPO Debt, Debt Financing Renewable Energy, Energy, Solar $45M–$1.2B
The Index Project
VC Fund
1 United States, Denmark, Chile Seed, Series A, Series B Chemical, Artificial Intelligence, SaaS $1.1M–$3M
ProVenture
VC Fund
1 Norway, United States, India Seed, Series A Software, Oil and Gas, Information Technology $744k–$5.6M
Innovations Kapital
VC Fund
1 Sweden, Denmark, United States Series B, Series C Biotechnology, Health Care, Software $5.5M–$30M
Teknoinvest
VC Fund
1 Sweden, Norway, United States Series B, Series A Health Care, Biotechnology, Medical $1.2M–$31M
SR One
VC Fund
1 United States, United Kingdom, Canada Series A, Series B, Series C Biotechnology, Health Care, Therapeutics $3.7M–$175M
Gezina
VC Fund
1 Norway Health Care, Biotechnology, Clinical Trials
Fyrin
VC Fund
1 Norway Seed Health Care
Dynamk Capital
VC Fund
1 United States, Canada, Norway Series A, Seed, Series B Biotechnology, Medical, Health Care
Swiss Diabetes Venture Fund
VC Fund
1 United States, Norway, Sweden Series A, Venture - Series Unknown Health Care, Medical Device, Medical $6.6M–$24M
p53
VC Fund
1 Norway, Denmark Series A Biotechnology, Medical, Life Science $30M–$81M
Silicon Valley AS
VC Fund
1 Norway Seed, Pre-Seed Baby, Wellness, Health Care
Unbounded Capital
VC Fund
1 United States, China, Japan Series A, Pre-Seed, Seed Software, FinTech, Financial Services $10k–$14M
Anne Worsoe
Angel
1 Norway, United States, Denmark Pre-Seed, Angel Software, Machine Learning, Financial Services $672k–$1.1M
Calm/Storm VC
VC Fund
1 United Kingdom, Germany, Austria Seed, Pre-Seed, Series A Health Care, Wellness, Software $478k–$18M
byFounders
VC Fund
1 Denmark, United States, Sweden Seed, Pre-Seed, Series A Software, Artificial Intelligence, Health Care
Inventure
VC Fund
1 Finland, Sweden, Denmark Seed, Series A, Series B Software, Information Technology, Health Care
Forward Slash Capital
VC Fund
1 India Seed SaaS, Software, Cloud Computing
Access all 177 investors in Norway Health Care 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 · 10 investments in Norway Health Care 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:Series A, Seed
  • Geography: Norway, United States, Sweden

Investor stats

  • Total investments: 123
  • Round size: Seed $400k–$3.6M; Series A $2M–$25M
  • Lead/follow: 50% lead, 50% follow
  • Last fund: May invest from a new fund soon — raised $148M in 2011

Portfolio highlights

  • Sonair — Make your robot safe, affordable, and efficient with the Sonair 3D ultrasonic sensor.
  • Two — Buy Now, Pay Later for your business customers. Two makes it easy and safe to offer invoice as a payment method on your e-commerce site.
  • Muybridge — Reimagining cameras with weightless software-based viewpoint
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Farvatn Venture
VC Fund · 7 investments in Norway Health Care startups

Planet 9 Venture supports startups and work with venture funds to make a positive imprint on the world.

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Pre-Seed
  • Geography: Norway, United States, United Kingdom

Investor stats

  • Total investments: 59
  • Round size: Seed $1M–$7.5M; Pre-Seed $120k–$1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Visoid — Render your 3D models with ease! Quick and easy rendering software for architects, powered by AI. Try Visoid for free!
  • BioSort — Biometrics provides lice, biomass, extraction, and data analysis. They offer feed, fish health, welfare, optimized harvest aquaculture, and fisheries. They provide sensor technologies, machine vision, AI, software, mechatronics.
  • Noteless — Noteless develops an AI-powered platform that converts doctor-patient conversations into structured medical notes. This tool is designed to streamline documentation processes for healthcare professionals, allowing them to focus more on patient care. The platform supports various specialties, including general practitioners, physiotherapists, andpsychologists, and is available in multiple languages such as English, German, Spanish, French, Dutch, Norwegian, and Danish. It ensures data privacy by not storing audio recordings or using patient data for model training, adhering to GDPR compliance. Healthcare providers can integrate the platform into their existing systems, aiming to reduce administrative burdens and enhance workflow efficiency.
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Skyfall Ventures
VC Fund · Oslo, Oslo, Norway · 5 investments in Norway Health Care startups

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

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Investment focus

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

Investor stats

  • Total investments: 64
  • Round size: Seed $1.2M–$6.1M; Pre-Seed $350k–$3.3M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Visoid — Render your 3D models with ease! Quick and easy rendering software for architects, powered by AI. Try Visoid for free!
  • CYBRET AI — The New Era of Autonomous Cybersecurity
  • Outshifter — Outshifter is the API for product data access. Give or get access to product data, and manage it all in one universal format.
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Birk Venture
VC Fund · Oslo, Oslo, Norway · 5 investments in Norway Health Care startups

Birk Venture is a Scandinavian venture company exclusively focusing on the life science industry.

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Investment focus

  • Industry: Biotechnology, Medical, Health Care
  • Stage:Seed, Series A
  • Geography: Norway, United Kingdom

Investor stats

  • Total investments: 9
  • Round size: Seed $1.3M–$15M; Series A $1.2M–$20M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • APIM Therapeutics — APIM Therapeutics is based on an original discovery by Prof. Marit Otterlei and co-inventors at the Department of Cancer Research and Molecular Medicine at NTNU (Trondheim, Norway). The company is currently developing proprietary peptide drugs targeting PCNA (Proliferating Cell Nuclear Antigen), a key DNA repair protein regulating cellularresponses to DNA damage and stress.
  • Zelluna Immunotherapy — Zelluna Immunotherapy AS is a privately owned biopharmaceutical company focused on the development of TCR based immunotherapies.
  • Accession Therapeutics — Accession Therapeutics is developing novel immuno-oncology therapeutics – combining high specificity and potency to counter tumor diversity. It is the first company to have engineered a viral point of entry to cancer cells while bypassing healthy cells - so it’s ‘gloves off’ in the fight against cancer." It was founded in 2020 and is locatedin Oxford, Oxfordshire, United Kingdom.
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SINTEF Venture AS
VC Fund · Trondheim, Sor-Trondelag, Norway · 4 investments in Norway Health Care startups

We commercialize technology created by SINTEF's research environments

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Investment focus

  • Industry: Manufacturing, Information Technology, Software
  • Stage:Seed, Venture - Series Unknown
  • Geography: Norway, United States, United Kingdom

Investor stats

  • Total investments: 34
  • Round size: Seed $160k–$6.2M; Venture - Series Unknown $1.6M–$17M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $51M in 2018

Portfolio highlights

  • Sonair — Make your robot safe, affordable, and efficient with the Sonair 3D ultrasonic sensor.
  • Hystar — Hystar develops polymer electrolyte membrane electrolyzers designed for large-scale green hydrogen production. Founded in 2020, Hystar's technology uses a unique cell design and process architecture that provides the ability to reduce electricity consumption and increase hydrogen output, enabling professionals to tackle various criticalenergy challenges and having the potential to reduce greenhouse gas emissions.
  • Hydrogen Mem-Tech — Hydrogen Mem-Tech aim is to make the green shift happen through our state-of-the-art hydrogen separation technology with carbon capture.
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TeleVenture Management
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Health Care startups

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

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Investment focus

  • Industry: Software, Manufacturing, Biotechnology
  • 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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Sarsia Seed Management
VC Fund · North Bergen, New Jersey, United States · 3 investments in Norway Health Care startups

Sarsia Seed AS is a Norwegian Seed Capital Fund which invests in Norwegian early phase technology companies within the energy/cleantech and biotechnology/life science sectors.The fund has a total capital of 333.5 million NOK (approx, 40 mEUR/50 mUSD) and is managed by Sarsia Seed Management AS. The management company advises theFund board regarding investment decisions. The Fundâ€:tm:s duration is expected to be 12 (+3) years.The Management Teamâ€:tm:s strength lay in its competence, experience and extensive national and international network of industrial players and co-investors. The Teamâ€:tm:s collective experience comprises an optimal balance between operations, business and specialised technology know-how, applied research, and entrepreneurship; elements which are actively used both in the vetting and follow-up of investments.

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Investment focus

  • Industry: Biotechnology, Software, Pharmaceutical
  • Stage:Seed, Series A
  • Geography: Norway

Investor stats

  • Total investments: 11
  • Lead/follow: 36% lead, 64% follow

Portfolio highlights

  • BerGenBio — BerGenBio is a clinical stage oncology biotech company, which is engaged in developing therapeutics against novel drug targets that drive aggressive cancers. Its drug candidate bemcentinib (BGB324) is in clinical development as a novel treatment for a variety of cancers.
  • Sonoclear AS — At SonoClear, we are dedicated to improving the diagnostic accuracy of ultrasound to give neurosurgeons the clarity needed to make critical decisions in the resection of tumours.
  • Heimdall Power — Heimdall Power helps utilities optimize the power grid with state-of-the-art sensors and software, enabling real-time capacity management and situational awareness for a more efficient and reliable energy system.
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Arali Ventures
VC Fund · Bangalore, Karnataka, India · 3 investments in Norway Health Care 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, B2B
  • Stage:Seed, Series A, Pre-Seed
  • Geography: India, United States, Norway

Investor stats

  • Total investments: 41
  • Round size: Seed $550k–$3.5M; Pre-Seed $500k–$1.6M; Series A $567k–$36M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Flo Mobility — Flo Mobility deploys autonomous robots for construction and industrial sites, including material movement robots and fleet control software.
  • RenaissThera — RenaissThera is a biotechnology startup that uses AI platforms to produce low-cost, new small-molecule-targeted medicines.
  • Wingman — Let Wingman help your team close sales faster with real-time coaching, custom cue cards, objection handling and the best conversation intelligence.
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Hadean Ventures
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Health Care 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, Medical
  • Stage:Series A, Series B
  • Geography: Norway, Sweden, Austria

Investor stats

  • Total investments: 32
  • Round size: Series A $4.3M–$79M; Series B $4.5M–$75M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely still investing — raised $105M in 2021

Portfolio highlights

  • Step Pharma — Step Pharma is a spin-off of Imagine Institute stemming from Pr. Alain Fischer’s research on genetic immunodeficiencies. Step Pharma is a joint venture between Imagine, a research and innovative healthcare institute, Sygnature Discovery, a leading provider of integrated drug discovery resource and expertise, and Kurma Partners, a major player inthe funding of healthcare and biotechnology in Europe.
  • Gesynta Pharma — Founded in 2017, Gesynta Pharma bases its R&D on research from the Karolinska Institutet. The most advanced drug candidate, GS-248, reduces inflammation and increases blood flow in the microvasculature, thereby having the potential to provide improved treatments for several serious diseases. In an ongoing clinical proof-of-concept study,GS-248 is being evaluated for its capacity to normalize vascular blood flow and reduce pain in patients with the autoimmune disease systemic sclerosis. Positive results from this study may lead to a rapid broadening of the development program towards additional indications, for example cardiovascular diseases and rheumatic diseases other than systemic sclerosis. Major shareholders include Industrifonden, Linc, Hadean Ventures, and a number of successful life science entrepreneurs. For more information, please visit www.gesynta.se
  • 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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Forbion Capital Partners
VC Fund · Naarden, Noord-Holland, The Netherlands · 3 investments in Norway Health Care startups

Impacting the future of medicine.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series B, Series A, Series C
  • Geography: United States, United Kingdom, The Netherlands

Investor stats

  • Total investments: 208
  • Round size: Series A $19M–$180M; Series B $16M–$155M; Series C $19M–$120M
  • Lead/follow: 52% lead, 48% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • Azafaros — Azafaros aims at developing therapeutic agents for the treatment of rare metabolic disorders such as lysosomal storage disorders through oral administration of azasugar compounds. These novel, very promising agents were discovered by Professor Hans Aerts at Leiden University and Amsterdam UMC and are exclusively licensed to Azafaros.
  • Inflazome — Situs gacor premium Megawin188 paling banyak di minati oleh semua kalangan karena pecah selayar tanpa henti dan memiliki tampilan yang sangat memanjakan mata.
  • Beacon Therapeutics — Beacon aids in restoring and improving the vision of patients with ophthalmic gene therapy. Find out more.
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Access 48,091 investors

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

Browse database — It's Free!
Stratel
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Health Care 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: Software, Robotics, Health Care
  • Stage:Seed, Pre-Seed
  • Geography: Norway, United Arab Emirates

Investor stats

  • Total investments: 9
  • Round size: Seed $320k–$3M; Pre-Seed $1.3M–$2M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Oivi — Smart and automated eye screening, anywhere.
  • Over Easy Solar — Prefabricated units with vertical bifacial solar panels for flat and green rooftops. The innovative photovoltaic solution from Over Easy Solar is unique, with quick and easy mounting for sedum roofs and flat roofs with low load-bearing capacity.
  • Inherit Carbon Solutions — Permanent carbon removal from organic waste, operational today. We capture biogenic CO2 and store it permanently under the North Sea.
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Meneldor
VC Fund · Druten, Gelderland, The Netherlands · 2 investments in Norway Health Care startups

Meneldor is a Dutch life-sciences investment firm backing exceptional science with disciplined VC capital to build and scale European biopharma with real impact.

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Investment focus

  • Industry: Biotechnology, Health Care, Pharmaceutical
  • Stage:Series A, Seed, Debt Financing
  • Geography: Norway, Germany, United Kingdom

Investor stats

  • Total investments: 6
  • Round size: Series A $2.2M–$65M
  • Lead/follow: 83% lead, 17% follow

Portfolio highlights

  • Hemispherian — Hemispherian is an innovative preclinical pharmaceutical company focused on developing a novel class of small molecule drugs. These drugs target the TET2 enzyme as an epigenetic therapy for particularly aggressive cancers.
  • Atriva Therapeutics — Therapies against viral infections. First-in-class host-targeting therapies to treat respiratory viral infections, including COVID-19 and influenza.
  • Tagworks Pharmaceuticals — As pioneers of Click-to-Release technology, we are revolutionizing cancer treatment using in vivo click chemistry to increase the therapeutic window of powerful cancer therapies.
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Schibsted Growth
VC Fund · Oslo, Oslo, Norway · 2 investments in Norway Health Care startups

Investing in great digital companies!

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Investment focus

  • Industry: Internet, Financial Services, E-Commerce
  • Stage:Seed, Series A
  • Geography: Sweden, Norway, France

Investor stats

  • Total investments: 51
  • Round size: Seed $93k–$7.1M; Series A $1.1M–$8.4M
  • Lead/follow: 78% lead, 22% follow

Portfolio highlights

  • Bookis — Bookis is the Next-Generation Online Bookstore with Direct Author Compensation, making the sharing of stories and knowledge playfully easy - from all bookshelves, for everyone. We leverage community, technology and innovative distribution to enable radically easier peer-to-peer bookselling, with fair author compensation models. Building theworld's largest network of authors fighting for a more fair book industry worldwide.
  • Dintero — Dintero is a fintech startup delivering payment, checkout, CRM, and loyalty solutions. The startup's checkout solution offers popular payment methods like Vipps, Swish, invoice, financing, and card payments. It has built its solution for split payment, so that the payments can be split regardless of the payment method. Dintero's aim isfor an online store to be able to choose exactly the payment methods the store itself wants.
  • Campanyon — Campanyon is a provider of an outdoor accommodation booking platform intended for people to find and book their next outdoor adventure by connecting campers with hosts.
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Futurum Ventures
VC Fund · 2 investments in Norway Health Care startups

Futurum Ventures invest in visionary entrepreneurs build and scale tech companies.

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Investment focus

  • Industry: Software, Artificial Intelligence, Energy
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Norway, Sweden

Investor stats

  • Total investments: 7
  • Round size: Seed $4M–$5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • BioSort — Biometrics provides lice, biomass, extraction, and data analysis. They offer feed, fish health, welfare, optimized harvest aquaculture, and fisheries. They provide sensor technologies, machine vision, AI, software, mechatronics.
  • Noteless — Noteless develops an AI-powered platform that converts doctor-patient conversations into structured medical notes. This tool is designed to streamline documentation processes for healthcare professionals, allowing them to focus more on patient care. The platform supports various specialties, including general practitioners, physiotherapists, andpsychologists, and is available in multiple languages such as English, German, Spanish, French, Dutch, Norwegian, and Danish. It ensures data privacy by not storing audio recordings or using patient data for model training, adhering to GDPR compliance. Healthcare providers can integrate the platform into their existing systems, aiming to reduce administrative burdens and enhance workflow efficiency.
  • Optio Incentives — Optio helps businesses incentivize employees, manage equity, stay compliant, and report costs with our software and advisory
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Antler
VC Fund · Singapore, Central Region, Singapore · 2 investments in Norway Health Care startups

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, Artificial Intelligence, Information Technology
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Singapore, Australia, United Kingdom

Investor stats

  • Total investments: 2216
  • Round size: Seed $159k–$4.6M; Pre-Seed $100k–$645k; Series A $4.1M–$29M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely still investing — raised $72M in 2024

Portfolio highlights

  • Praktiki — Praktiki is building the "Decision Layer" for medicine.While medical knowledge doubles every 73 days, frontline clinicians struggle to translate guidelines into practice. Current AI search tools excel at surfacing public data from clinical trials, but fail to capture "how" experts apply that evidence in real-world scenarios.Praktiki fills this gap. We utilise an AI Agentic Creator Engine to capture tacit specialist reasoning and fuse it with public evidence. This feeds a proprietary Expert Knowledge Graph that powers: 1) Microlearning: Case-based modules created 10x faster and which are 170% more effective than traditional education 2) AI Expert Guidance: Real-time decision support synthesising evidence with expert implementation strategies.2025 Traction - our MVP proved that solving the expertise gap drives high engagement: - Registered >10% of UK GPs - 60,000+ modules completed with an 85% completion rate - 51% month-over-month growth - Market-leading NPS of 83We are building a compounding data moat to expand beyond education into clinical intelligence and healthcare data solutions.
  • Mast — Mast is the cloud-native, fully configurable loan origination platform empowering lenders to process applications faster and smarter. We make lending better, smoother and faster.
  • Forti Foods — The mission of Forti Foods is to enhance communities and change lives beyond the plate by fostering resilience and dignity via sustainable food innovation.
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Canica
VC Fund · Oslo, Oslo, Norway · 2 investments in Norway Health Care startups

Canica is one of the largest privately owned investment companies in Norway. Our operations are focused on active, long-term ownership, primarily within sectors covering retail, fast moving consumer goods and real estate. Canica can offer core expertise within the fields of business development and finance, as well as capital and network in orderto create value and employment in a long-term perspective.

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Investment focus

  • Industry: Biotechnology, Beauty, Retail
  • Stage:Private Equity, Series A, Venture - Series Unknown
  • Geography: Norway, Denmark, Singapore

Investor stats

  • Total investments: 14
  • Round size: Series A $7M–$25M; Venture - Series Unknown $20M–$29M
  • Lead/follow: 21% lead, 79% follow

Portfolio highlights

  • Healthily — The path to perfect health starts with self-care and Healthily is here to guide you step by step.
  • Cytovation — Cytovation AS is a privately-held biotech company, specialising in dermatological diseases, based in Bergen, Norway.
  • Oncoinvent — Oncoinvent AS designs and develops cancer treatments by applying known physical and chemical principles of selected novel materials in new ways in order to maximize their medical benefit while minimizing potential safety concerns.
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Sarsia
VC Fund · Bergen, Hordaland, Norway · 2 investments in Norway Health Care startups

Sarsia is an early-stage venture capital investor that invest in science-based technology companies. It was founded in 2006 and is located in Bergen, Hordaland.

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Investment focus

  • Industry: Software, SaaS, Sensor
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Norway, Sweden, Finland

Investor stats

  • Total investments: 9
  • Round size: Seed $2.1M–$2.7M; Pre-Seed $625k–$4.3M; Series A $81M–$81M
  • Lead/follow: 44% lead, 56% follow

Portfolio highlights

  • Cetasol — Cetasol provides maritime monitoring and analytics software for commercial vessel fleets. Reduce fuel costs, optimize performance, and support regulatory compliance and emissions reporting.
  • Mitigrate — Mitigrate is building a SaaS platform to predict how physical climate risk will impact property assets in the future. The system provides businesses and asset owners with a cost-effective strategy to mitigate risk. The user gets connected to certified, local adaptation specialists who refine and implement the solution.
  • Flow Computing — Flow's Parallel Processing Unit (PPU) gives 100X CPU performance for demanding applications, such as locally-hosted AI and general-purpose parallel computing.
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CCAP Investments & Advisory
VC Fund · Frankfurt, Hessen, Germany · 2 investments in Norway Health Care startups

CCAP Investments & Advisory is an investment firm.

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Investment focus

  • Industry: Finance, Leasing, Payments
  • Stage:Series A, Series B
  • Geography: Norway, Austria

Investor stats

  • Total investments: 4
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Linxfour - Transforming Equipment Finance — linx4 is an Austrian based financing company with a unique market USP in true Pay-per-Use Financing for industrial equipment, where linx4 takes over up to 75% usage risk.
  • Optio Incentives — Optio helps businesses incentivize employees, manage equity, stay compliant, and report costs with our software and advisory
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BIF Partners
VC Fund · Hamburg, Hamburg, Germany · 2 investments in Norway Health Care startups

Angel Investors focusing on Seed Investments

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Investment focus

  • Industry: Health Care, Biotechnology, Therapeutics
  • Stage:Seed, Convertible Note, Pre-Seed
  • Geography: Germany, Israel, Norway

Investor stats

  • Total investments: 13
  • Round size: Seed $1.3M–$2M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Hemispherian — Hemispherian is an innovative preclinical pharmaceutical company focused on developing a novel class of small molecule drugs. These drugs target the TET2 enzyme as an epigenetic therapy for particularly aggressive cancers.
  • ECO Group — Eco is a supplier of consumer products. They create structures for increased growth and profitability within the group companies.
  • Lucid Genomics — Lucid Genomics is an AI-powered platform that focuses on diagnostics and biomarker detection. It offer comprehensive DNA analysis, that includes coding and non-coding mutation prioritization and interpretation.
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Sandwater
VC Fund · Oslo, Oslo, Norway · 2 investments in Norway Health Care startups

We are Sandwater. Regeneration of our resources. Vitalizing healthcare & education. Improving life through technology.

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Investment focus

  • Industry: AgTech, Medical, Agriculture
  • Stage:Series A, Seed
  • Geography: Norway, Germany, France

Investor stats

  • Total investments: 24
  • Round size: Series A $8.5M–$24M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Mantle8 — Using bottom-up exploration and decades of geology experience, we are on a mission to deliver natural hydrogen to the world.
  • CurifyLabs — CurifyLabs enables 3D printed personalized medicines in pharmacies and hospitals. Always close to the patient.
  • Alva Industries — Serving industries from aerospace to marine, we deliver high-performance, sustainable motors to drive a cleaner, more efficient future.
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M Ventures
VC Fund · Amsterdam, Noord-Holland, The Netherlands · 2 investments in Norway Health Care startups

Merck Ventures is the strategic, corporate venture capital arm of Merck. Its mandate is to invest in innovative technologies and products with the potential to significantly impact Merck‘s core business areas. From its headquarters in Amsterdam and offices in the US and Israel we invest globally in transformational ideas driven by greatentrepreneurs. Merck Ventures takes an active role in its portfolio companies and teams up with entrepreneurs and co-investors to translate innovation towards commercial success. Merck Ventures has a significant focus on early-stage investing and company creation including the creation of spin-offs to leverage Merck‘s science and technology base.

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Seed
  • Geography: United States, United Kingdom, Switzerland

Investor stats

  • Total investments: 174
  • Round size: Seed $2.4M–$24M; Series A $5.6M–$50M; Series B $15M–$100M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Cyllene Therapeutics — EG 427 is a French biotechnology company that pioneers a new approach in gene therapy called pinpoint gene therapy.
  • iOnctura — Our mission is to develop high impact, low disruption therapies that extend healthspan. We do this by disrupting the dynamic interplay at the heart of the
  • ApoGen Biotechnologies — Explore fast payout casinos that deliver winnings instantly or under 24 hours. List of the best payout casinos to get same day winnings.
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Advent Life Sciences
VC Fund · London, England, United Kingdom · 1 investments in Norway Health Care startups

Advent Life Sciences is a venture team investing in life sciences businesses. The team consists of 11 professionals with extensive scientific, medical and operational experience, and a long-standing track record of entrepreneurial and investment success across the UK, Europe and the US. The Firm invests in a range of sectors within life sciences,principally in new drug discovery, enabling technologies, and med tech. Realizations in the last three years include Algeta, Avila, CN Creative, EUSA, Micromet. Current investments include Acutus, Biocartis, Cellnovo, f2G, NeRRe,

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series A, Series B
  • Geography: United States, United Kingdom, France

Investor stats

  • Total investments: 71
  • Round size: Series A $5.5M–$51M; Series B $21M–$97M
  • Lead/follow: 35% lead, 65% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • Cyted — Cyted focuses on providing digital diagnostic infrastructure to drive the earlier detection of disease. Our technologies use AI and novel biomarkers to improve patient outcomes.
  • Glycomine — We are developing a PMM2-CDG substrate replacement therapy. GLM101 is a mannose-1 phosphate treatment.
  • Beacon Therapeutics — Beacon aids in restoring and improving the vision of patients with ophthalmic gene therapy. Find out more.
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CoFounder
VC Fund · Trondheim, Sor-Trondelag, Norway · 1 investments in Norway Health Care 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: Industrial, Manufacturing, SaaS
  • Stage:Seed, Series A
  • Geography: Norway

Investor stats

  • Total investments: 10
  • Round size: Seed $956k–$2.3M
  • Lead/follow: 10% lead, 90% 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.
  • Aviant — Delivering full-stack drone services that enables autonomous and on-demand transport of cargo.
  • Receipts — Receipts is a single set of APIs that connects cashier systems and banks, allowing for digital receipts, card identification, and retail value-added services.
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Glastad Invest
VC Fund · Farsund, Vest-Agder, Norway · 1 investments in Norway Health Care startups

Glastad Holding is a family-owned company whose roots can be traced back to the shipping industry in the early 20th century. Today, Glastad Holding is a thriving investment company with three subsidiaries: Glastad Farsund - real estate, Mosvolds Rederi - shipping, and Glastad Invest - private equity and listed investments. Glastad Holding aims toexert active and long term ownership.

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Investment focus

  • Industry: Health Care, Biotechnology, Clinical Trials
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • SantoSolve — SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment.
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HealthCap
VC Fund · Stockholm, Stockholms Lan, Sweden · 1 investments in Norway Health Care startups

HealthCap, a life science investor and company creator. Our motivation is to find innovative ideas and invest that could impact healthcare and society.

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Investment focus

  • Industry: Biotechnology, Health Care, Medical
  • Stage:Series B, Series A
  • Geography: United States, Sweden, France

Investor stats

  • Total investments: 133
  • Round size: Series A $5.7M–$85M; Series B $12M–$92M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $209M in 2019

Portfolio highlights

  • Neobiomics — Neobiomics is a Swedish life-science company that develops nutritional products for preterm infants and neonatal care. Its best-known products include ProPrems® and NeoMega36®.
  • CurifyLabs — CurifyLabs enables 3D printed personalized medicines in pharmacies and hospitals. Always close to the patient.
  • Ultragenyx Pharmaceutical — Ultragenyx is focused on developing first-ever approved treatments for rare and ultrarare diseases and moving the rare disease community forward.
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SpareBank 1
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

SpareBank 1 Alliance is the second largest financial institution.

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Investment focus

  • Industry: SaaS, Solar, Robotics
  • Stage:Post-IPO Debt, Debt Financing
  • Geography: Norway

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • Skyfri — The most advanced operating platform for solar assets - maximizing production and reducing cost.
  • 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.
  • Vow Green Metals — Vow Green Metals purpose is to hasten the global switch to renewable resources by providing environmentally friendly substitutes for fossil reduction agents in the metallurgical sector.
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SHS Capital
VC Fund · Tübingen, Baden-Wurttemberg, Germany · 1 investments in Norway Health Care startups

SHS is an independent private equity company. Their focus is on investments in the MedTech, Life Sciences, Diagnostics, and Digital Health sectors.

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Investment focus

  • Industry: Health Care, Medical Device, Medical
  • Stage:Series B, Series C
  • Geography: Germany, Switzerland, France

Investor stats

  • Total investments: 44
  • Round size: Series B $4.9M–$60M; Series C $6.6M–$14M
  • Lead/follow: 57% lead, 43% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • Arzneimittelwerk Warngau — Unsere Schwerpunkte Karriere bei AMW
  • ROTOP — ROTOP is a pharmaceutical company. They manufacture cGMP-compliant radiopharmaceuticals for diagnostics and therapy in the fields of nuclear medicine. They provide API/precursor synthesis, analysis kit development, project management, full regulatory support spect, PET, quality control, and therapy services. Their customers contact throughemail and phone number.
  • Salvia BioElectronics — Our mission is to give people with migraine a better life. As a pioneer in the field of medical devices, Salvia BioElectronics is passionately committed to empowering people with migraine to reclaim their lives.
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Bakken & Baeck
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Since 2011, we have built products with some of the most ambitious companies out there. From defining the future of conversational AI with Sierra to building decentralised platforms with Coinbase.

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Investment focus

  • Industry: Chemical, Software, Life Science
  • Stage:Seed, Angel
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • Versor — Versor develops software necessary for true autonomous drone flight both indoors and outdoors, enabling complete automation of industrial drone operations. They believe this level of automation requires superior localization, which is particularly difficult to achieve indoors and in GPS-denied areas. By removing the need for pilots, entire fleetsof drones may be supervised remotely, enabling true scalability of drone operations across various applications.
  • Iris.ai — Augment expert knowledge by unifying complex enterprise data to empower next-gen AI agents & applications
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PAACS Invest AS
VC Fund · 1 investments in Norway Health Care startups

PAACS Invest is a privately owned Norwegian investment firm that focuses on active investments in healthcare and technology with a focus on sustainability.

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Investment focus

  • Industry: Consulting, Health Care, Biotechnology
  • Stage:Seed
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Hemispherian — Hemispherian is an innovative preclinical pharmaceutical company focused on developing a novel class of small molecule drugs. These drugs target the TET2 enzyme as an epigenetic therapy for particularly aggressive cancers.
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Nordic Impact
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Nordic Impact invests in, supports, and builds businesses and funds based around technology. The company's goal is to make impact investing mainstream and mobilize all business and capital towards solving the big problems in the world while making great financial returns.

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Investment focus

  • Industry: Chemical, Life Science, Visual Search
  • Stage:Seed
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Iris.ai — Augment expert knowledge by unifying complex enterprise data to empower next-gen AI agents & applications
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Calvin Ayre
Angel · 1 investments in Norway Health Care startups

Calvin Ayre (born May 25, 1961, in Lloydminster, Saskatchewan, Canada) is the founder of the Bodog online gaming and entertainment brand, which he developed and launched in 1994.Ayre received a Bachelor of Sciences (BSc) in General Sciences from the University of Waterloo in 1984. In 1989, Ayre earned an MBA in Management Finance from CityUniversity of Seattle.

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Investment focus

  • Industry: Blockchain, Information Technology, Bitcoin
  • Stage:Seed, Venture - Series Unknown
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 30
  • Round size: Seed $363k–$4.4M; Venture - Series Unknown $1.5M–$3M
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Mijem — Mijem is the buy sell marketplace app to tap into your campus community. Save money. Earn cash. Connect with students. Download the free app.
  • FYX Gaming — Web3 development platform & scaling solutions on the blockchain, proud creator of CryptoFights.
  • Transmira — Augmented and Virtual Reality Solutions
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DNB
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups, 13 in the past 12 months

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: Renewable Energy, Energy, Solar
  • Stage:Post-IPO Debt, Debt Financing
  • Geography: Norway, Sweden, United Kingdom

Investor stats

  • Total investments: 52
  • Round size: Post-IPO Debt $45M–$1.2B; Debt Financing $94M–$790M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Cadeler — Cadeler is an offshore services company that provides offshore wind installation and maintenance services. The company operates specialized vessels for transporting, installing, and servicing wind turbines and foundations in offshore environments, supporting the development of renewable energy infrastructure.
  • Scandi Standard — Welcome to Scandi Standard. We want to inspire you to choose chicken: a good, healthy choice, which is ideal for today’s consumers. We sell the finest Swedish, Danish, Norwegian and Finnish chicken under the Kronfågel, Danpo, Den stolte Hane and Naapurin Maalaiskana brands. We are the leading chicken producer in the Nordic region, serving thedomestic and export markets.In June 2013, we created the Nordic region's market-leading chickenbased product group when Scandi Standard was established. The Company was created by gathering the largest poultry operations in the region into one collective group. At present, the Group has an annual turnover of approximately SEK 5.2 billion and almost 1,700 employees.
  • Easpring Finland New Materials Oy — Easpring Finland New Materials Oy is a manufacturing company that offers battery materials plant development and operation. It is a joint venture by Beijing Easpring Material Technology, Finnish Materials Group and LG Energy Solution.
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The Index Project
VC Fund · Copenhagen, Hovedstaden, Denmark · 1 investments in Norway Health Care startups

Design to improve life is about solving real problems, small and large, simple and complex, systemic and emerging and is a life-long pursuit. The Index Project is a call to action. Are you in?

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Investment focus

  • Industry: Chemical, Artificial Intelligence, SaaS
  • Stage:Seed, Series A, Series B
  • Geography: United States, Denmark, Chile

Investor stats

  • Total investments: 9
  • Round size: Seed $1.5M–$2M; Series A $1.1M–$3M
  • Lead/follow: 0% lead, 100% follow
  • Last fund: May invest from a new fund soon — last raise in 2016

Portfolio highlights

  • Agribuddy — Management of agricultural support application "AGRIBUDDY".
  • CanopyLAB — CanopyLAB is an educational technology company located in Hvidovre, Greater Copenhagen, Denmark. We have built an AI-powered social learning platform for corporate training. Through personalization our platform enables all learners to realize their potential in a way that is fast, fun and future-proof. We call it "The Future of Learning-Delivered Today".We work on two verticals:1. The Canopy A social learning platform powered by AI A research-based social learning platform for developing competencies through individualized and adaptive learning experiences. It is designed with an integrated social network structure to enhance collaborative learning and built on strong Nordic learning principles.2. The LAB A learning community with provocative content Join our global learning community for youth. Take free courses, exchange ideas, gain new knowledge and practice competencies offered by 100 + pioneering NGOs in controversial and often neglected topics such as sexuality, sexual & reproductive rights, climate action, health, and the SDGs.CanopyLAB acquired Peruvian publishing startup Yopublico in April 2020.
  • Destácame — Destacame is the first behavior-based credit score in Latin America.
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ProVenture
VC Fund · Trondheim, Sor-Trondelag, Norway · 1 investments in Norway Health Care 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: Software, Oil and Gas, Information Technology
  • Stage:Seed, Series A
  • Geography: Norway, United States, India

Investor stats

  • Total investments: 40
  • Round size: Seed $744k–$3.7M; Series A $4.9M–$5.6M
  • Lead/follow: 63% lead, 37% follow
  • Last fund: May invest from a new fund soon — last raise in 2019

Portfolio highlights

  • Sonair — Make your robot safe, affordable, and efficient with the Sonair 3D ultrasonic sensor.
  • 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.
  • The Human Touch Robotics — Introducing robotics with the lightness of the human touch in realms once thought impossible.
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Innovations Kapital
VC Fund · Göteborg, Vastra Gotaland, Sweden · 1 investments in Norway Health Care startups

InnovationsKapital was founded in 1994 and is a leading independent venture capital firm for innovative growth companies in the Nordic region. The business, carried out from offices in and Stockholm, Gothenburg and New York, is focused on investments within ICT and Healthcare & Life Sciences, dynamic sectors that are rapidly expanding and whereNordic research plays an important role. The capital is provided by highly reputable Swedish and international institutional investors.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Series B, Series C
  • Geography: Sweden, Denmark, United States

Investor stats

  • Total investments: 19
  • Round size: Series B $5.6M–$30M; Series C $5.5M–$15M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Silecs — PiBond manufactures materials used in electronic devices, including patterning materials for semiconductors and optical materials. We also develop complete solutions that allow our clients to focus on creating innovative products.
  • SantoSolve — SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment.
  • Action Pharma — Action Pharma A/S operates as a research and development focused biotechnology company. It discovers and develops new drugs and treatment concepts to treat cardiovascular disease and inflammatory diseases, as well as metabolic diseases, such as type-II diabetes and obesity. The company's product pipeline includes AP214, a modifiedÐMSH-peptide analogue for the treatment of post-surgical kidney injury associated with cardiac surgery; and AP1030 and AP11 series, oral anti-diabetic (OAD) for the treatment of type-II diabetes associated with overweight/obesity. Its product pipeline also comprise AP1189, an oral anti-inflammatory compound for the treatment of inflammatory diseases, such as inflammatory bowel disease and rheumatoid arthritis; and AP405, a modified MSH peptide analogue for the treatment of inflammatory skin diseases, such as atopic dermatitis. The company was founded in 2000 and is based in Holte, Denmark.
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Teknoinvest
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Teknoinvest is a premier Scandinavian venture capital company. They invest in areas of emerging technologies within the ITC and Life Sciences sectors. Their main geographical scope is Scandinavia and the USA. Teknoinvest was established as the first venture capital investment company. Teknoinvest is one of the most successful VC´s in Scandinaviaaccording to track record of value created for their investors.

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Investment focus

  • Industry: Health Care, Biotechnology, Medical
  • Stage:Series B, Series A
  • Geography: Sweden, Norway, United States

Investor stats

  • Total investments: 25
  • Round size: Series A $1.2M–$12M; Series B $6M–$31M
  • Lead/follow: 8% lead, 92% follow

Portfolio highlights

  • GLO — glō is a venture-backed company focused on the development and commercialization of advanced LED display products using nanotechnology. The unique nanotechnology is based on 11 years of research at Lund University’s Nanometer Structure Consortium. Headed by Professor Lars Samuelson, one of the world’s leading scientists in this field, who haspublished more than 500 papers related to this technology.glō's first office is in Lund, Sweden, where basic material research continues for the next generation nanotechnology. glō's research and product development along with pilot fabrication operation is carried out at glō-USA in Sunnyvale, California. In 2016, glō established an Asia office in Taipei, Taiwan, one of the largest and fastest-growing regions for LED lighting and display applications.glō's technology sidesteps the technical limitations of current planar LED technology. It allows for the creation of highly efficient, stable and ultimately unique red, green, blue (RGB) emitters out of one material system. It aims to achieve the industry’s best color stability and ultimately enables the growth of red, green and blue emitters on the same wafer. Highly-efficient white LEDs with high color rendering will be possible without the need for phosphor conversion. It is the next enabling technology for advanced display, illumination and automotive applications.glō nanowire light-emitting diodes (nLEDs) are based on its proprietary hetero-structured semiconductor nanowire epitaxial growth and process technologies for which standard manufacturing equipment and materials can be utilized.glō currently holds over 175 patents across US, Europe and Asia. These patents are not subject to any cross-licensing with the LED oligopoly. The glō team is constantly strengthening its intellectual property position in this technology and related applications.
  • SantoSolve — SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment.
  • Sol Voltaics — Founded in 2007, Sol Voltaics AB is a venture-backed, development-stage nanotechnology company focused on development and commercialization of highly efficient, third-generation photovoltaic concentrator solar cells based on its proprietary heterostructured nanowire epitaxial growth and process technologies.
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SR One
VC Fund · Cambridge, Massachusetts, United States · 1 investments in Norway Health Care startups

SR One Capital Management is a leading trans-Atlantic biotech venture capital firm that partners with top entrepreneurs, scientists and investment partners to seek to build elite biotechnology companies. Our mission is to translate ground-breaking technologies into next generation medicines to benef

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Investment focus

  • Industry: Biotechnology, Health Care, Therapeutics
  • Stage:Series A, Series B, Series C
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 198
  • Round size: Series A $3.7M–$100M; Series B $15M–$114M; Series C $22M–$175M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • CHARM Therapeutics — CHARM Therapeutics uses deep learning on 3D molecular configurations to develop molecule therapeutics to target pathogenic proteins.
  • Addition Therapeutics — Addition Therapeutics focuses on developing RNA-only therapeutics using its proprietary PRINT technology. This approach enables the precise insertion of genetic elements at specific safe harbor sites, aiming to transform the field of genetic medicine. They operate within the biotechnology industry and are backed by venture capital. Their innovativemethods target gene editing and regulation, potentially offering new solutions in the field of genetic therapies.
  • Morphic Therapeutic — Morphic Therapeutic is a biotechnology company developing a new generation of oral integrin therapies. Drawing on discoveries made in the lab of Scientific Founder Tim Springer, Morphic was created in 2015 with co-founders Polaris Partners, T.A. Springer and Schrödinger, Inc., along with ShangPharma Investment Group.
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Gezina
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Gezina

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Investment focus

  • Industry: Health Care, Biotechnology, Clinical Trials
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • SantoSolve — SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment.
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Fyrin
VC Fund · Norway, South Carolina, United States · 1 investments in Norway Health Care startups

Fyrin is a network of investors and business developers located in Northern Norway who want to contribute to the financing of growth companies in the country.

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Investment focus

  • Industry: Health Care
  • Stage:Seed
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • LIFENESS — Lifeness is a platform specialized in the treatment of lifestyle diseases and an entrepreneur from the fitness industry,
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Dynamk Capital
VC Fund · New York, New York, United States · 1 investments in Norway Health Care startups

Dynamk Capital is a New York headquartered growth equity and venture capital firm investing in life science industrials: tools, technologies and services that are critical for the discovery, development and production of life-saving therapies. Venture capital for Life Science tools.

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Investment focus

  • Industry: Biotechnology, Medical, Health Care
  • Stage:Series A, Seed, Series B
  • Geography: United States, Canada, Norway

Investor stats

  • Total investments: 20
  • Lead/follow: no public data

Portfolio highlights

  • CellFE — We transform the way cell therapies are manufactured to enable affordable advanced treatments for all.
  • Lucid Scientific — Lucid Scientific is the maker of Resipher - the world's first handheld cell culture monitor to measure real-time oxygen consumption from inside an incubator.
  • Vernal Biosciences — Vernal Biosciences is an mRNA manufacturing company that provides high purity mRNA, from concept to clinical trials, on a transactional basis.
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Swiss Diabetes Venture Fund
VC Fund · Lausanne, Vaud, Switzerland · 1 investments in Norway Health Care startups

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

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Investment focus

  • Industry: Health Care, Medical Device, Medical
  • Stage:Series A, Venture - Series Unknown
  • Geography: United States, Norway, Sweden

Investor stats

  • Total investments: 5
  • Round size: Series A $6.6M–$24M
  • Lead/follow: 60% lead, 40% follow

Portfolio highlights

  • GlucoSet — GlucoSet develops tools for accurate continuous glucose monitoring in Intensive Care Units, to reduce patient mortality and hospital costs.
  • BOYDSense — BOYDSense specializes in developing non-invasive and affordable tools for measuring critical biomarkers via the exhaled breath. The company provides breath-based metabolomics focuses on the capture, identification, and quantification of volatile organic compound (VOC) biomarker patterns in human breath and using it to diagnose and monitor chronicdiseases.It was founded in 2015 and headquartered in South San Francisco, California.
  • Luna Diabetes — Luna Diabetes offers smart insulin delivery for pen users, designed for safe overnight use so you can wake up rested and in control.
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p53
VC Fund · Stavanger, Rogaland, Norway · 1 investments in Norway Health Care startups

p53 identifies and invests in innovative healthcare companies, particularly in the fields of biotechnology and medical devices.

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Investment focus

  • Industry: Biotechnology, Medical, Life Science
  • Stage:Series A
  • Geography: Norway, Denmark

Investor stats

  • Total investments: 2
  • Round size: Series A $30M–$81M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Calluna Pharma — Join Calluna Pharma to transform therapeutics for inflammatory and fibrotic diseases. With a robust pipeline, seasoned leadership, and strategic alliances, we can revolutionize patient care.
  • Teitur Trophics — Teitur Trophics is a biotech company developing circular peptides for neurodegenerative diseases. The company was founded in 2020 and is headquartered in Aarhus, Denmark.
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Silicon Valley AS
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Silicon Valley AS is an innovative privately funded investor in startups funding. Providing venture capital to the following industries: sustainable technologies, mobility, smart cities, web3.0, blockchain, real estate

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Investment focus

  • Industry: Baby, Wellness, Health Care
  • Stage:Seed, Pre-Seed
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • Norveda AS — Refining and redefining human wellness and care.
  • Baby Talk AS — Shaping the future of baby and infant care.
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Unbounded Capital
VC Fund · Austin, Texas, United States · 1 investments in Norway Health Care startups

Unbounded Capital is a blockchain investment firm built by technical founders that understand the entrepreneurial journey; former poker pros that know how to analyze risk; and investors that understand that early-stage investing is not a passive activity.

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Investment focus

  • Industry: Software, FinTech, Financial Services
  • Stage:Series A, Pre-Seed, Seed
  • Geography: United States, China, Japan

Investor stats

  • Total investments: 18
  • Round size: Pre-Seed $336k–$500k; Series A $10k–$14M
  • Lead/follow: 11% lead, 89% follow
  • Last fund: Likely still investing — raised $2.7M in 2023

Portfolio highlights

  • HandCash — HandCash is a revolutionary new kind of wallet you can connect to apps and games. Earn cash. Spend quicker.
  • Reactiv — Reactiv is an AI-powered mobile app platform to help you sell more and increase retention, without the headache of managing another channel
  • Cork Protocol — Cork's new DeFi primitive, Depeg Swaps allows investors to hedge and trade the risk of their pegged asset (LST/LRTs, Stablecoins, RWAs).
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Anne Worsoe
Angel · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

I work with early-stage technology startups and founders with ambitions to solve global challenges. I'm co-founder and partner at Farmhouse, investing primarily in Norwegian startups, and a venture partner at Antler, a global early-stage VC. Previously, I held the position as Portfolio Manager and Partner at B&B while the company scaledfrom 16 to 60+ people in three countries. I initiated and co-founded the co-working space Nordic Innovation House in Silicon Valley, explored new business opportunities in the renewables industry and I was the first CEO of the Norwegian Venture Capital & Private Equity Association. I have experience as a co-founder, angel investor, member of the Board of Directors for startups and VCs, focusing on early-stage ventures, growth, and internationalization. I'm passionate about helping startups scale their impact, and especially empowering female co-founders and angel investors.

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Investment focus

  • Industry: Software, Machine Learning, Financial Services
  • Stage:Pre-Seed, Angel
  • Geography: Norway, United States, Denmark

Investor stats

  • Total investments: 7
  • Round size: Pre-Seed $672k–$1.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Ownersroom — OwnersRoom is a fintech startup based in Oslo.
  • SafetyWing — Health and insurance products for remote companies and remote workers worldwide, as a replacement for national welfare systems.
  • 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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Calm/Storm VC
VC Fund · Vienna, Wien, Austria · 1 investments in Norway Health Care startups

Calm/Storm is an exclusive founder network and venture capital firm. We invest in purpose driven founders changing our life & health for the better. Headquartered in Vienna, Austria we invest in early-stage companies all over Europe and the US. We focus on the pre-seed and seed stages but also invest up to Series A.

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Investment focus

  • Industry: Health Care, Wellness, Software
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, Germany, Austria

Investor stats

  • Total investments: 118
  • Round size: Seed $1.1M–$7.3M; Pre-Seed $478k–$2.7M; Series A $6M–$18M
  • Lead/follow: 8% lead, 92% follow
  • Last fund: May invest from a new fund soon — raised $23M in 2020

Portfolio highlights

  • thymia — We use video games based on Neuropsychology alongside analyses of video and speech to make mental health assessments smart, starting with depression.Our online platform empowers clinicians so they can assess depression faster, more accurately and objectively. Our multi-modal depression recognition and tracking system allows us to find the righttreatment in weeks instead of years and we make the entire process enjoyable for the patient.
  • doctorly — doctorly is a digital medical infrastructure platform. We have a regulated, cloud powered, fully centralised, practice management platform for doctors, a fully connected health app for patients, and an integration platform for the wider industry to natively connect their tools & workflows directly with our doctors & patients.We are backedby amazing investors and driven by a desire to make positive and meaningful changes to the healthcare industry internationally.
  • Bea Fertility — Bea Fertility is a monthly subscription program that provides users with at-home fertility treatment and ovulation tracking.
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byFounders
VC Fund · Copenhagen, Hovedstaden, Denmark · 1 investments in Norway Health Care startups

byFounders is the community-powered early-stage venture fund investing in globally ambitious teams connected to the Nordic and Baltic countries. With its unique Collective of founders and operators, byFounders offers its portfolio operational expertise and a global network. Believing in the power of tech to shape our future, byFounders takes an impact-aware approach to investing and working with the broader startup ecosystem.

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Investment focus

  • Industry: Software, Artificial Intelligence, Health Care
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Denmark, United States, Sweden

Investor stats

  • Total investments: 89
  • Lead/follow: no public data

Portfolio highlights

  • Sumary — Sumary is a finance-tech company that offers an AI-powered reporting, budgeting & forecasting for e-conomic.
  • Digitail — Grow your practice, offer a modern client experience, and automate routine practice tasks with the proven all-in-one veterinary software.
  • DataCrunch.io — DataCrunch is a cloud service provider which facilitates utilization and integration of state of the art AI/ML models
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Inventure
VC Fund · Helsinki, Southern Finland, Finland · 1 investments in Norway Health Care startups

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Series A, Series B
  • Geography: Finland, Sweden, Denmark

Investor stats

  • Total investments: 157
  • Lead/follow: no public data

Portfolio highlights

  • Klevu — Klevu Oy is a self-learning search engine that helps online retailers turn visitors into customers. Its search for SMEs focuses on fast, relevant search with actionable insights into shoppers’ search and easy self-service integration.Klevu Oy’s enterprise edition provides natural language search with ease of catalog maintenance and insights intoshopping experience. It is based in Helsinki, Southern Finland.
  • Elsa — Elsa is a platform for patient driven research for better drugs, health and prevention. Elsa lets patients become their own personal researchers by providing them with a better understanding around how lifestyle factors may affect their disease activity measurements for chronic disease. To support them from a scientific perspective, Elsa gives themaccess to data on their specific disease (initially we work with rheumatoid arthritis) through the Riskminder foundation and scientific studies at Karolinska Institutet.
  • Steep — Business intelligence for modern companies. Steep lets anyone on your team stay on top of your data.
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Forward Slash Capital
VC Fund · Bangalore, Karnataka, India · 1 investments in Norway Health Care startups

We fund innovative startups that are globally relevant and technology oriented Early stage startups need support beyond funding. At Forward Slash, we not only invest but also helps founders scale business

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Investment focus

  • Industry: SaaS, Software, Cloud Computing
  • Stage:Seed
  • Geography: India

Investor stats

  • Total investments: 3
  • Lead/follow: no public data

Portfolio highlights

  • Oivi — Smart and automated eye screening, anywhere.
  • Uable — A Learning Ecosystem for Ambitious Teens
  • Nected — Automate your backend flows, logics & experiments quickly within minutes using Nected's Rule Engine, Workflow automation & Experimentation Engine. Accelerate your innovation & growth. Highly Scalable, performing and customizable to adapt to any business needs and scale.
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Health Care Investor funding in Norway at a glance

Stats across 171 deals from 177 investors.

177
investors
in Norway Health Care startups
171
deals
in Norway Health Care startups
$2M
median round
in Norway Health Care startups
37%
lead investors
lead at least one round
19%
Grant
most common funding stage
84/16
VC / Angel
share of investor count

Access all 177 investors in Norway Health Care startups.

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