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Top 50 Health Care VC Funds & Investors in Norway (June 2026)

The most active venture capital funds 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
Birk Venture
VC Fund
5 Norway, United Kingdom Seed, Series A Biotechnology, Medical, Health Care $1.2M–$22M
Skyfall Ventures
VC Fund
5 Norway, Denmark, United States Seed, Pre-Seed Software, Information Technology, Artificial Intelligence $336k–$5.5M
SINTEF Venture AS
VC Fund
4 Norway, United States, United Kingdom Seed, Pre-Seed Software, Manufacturing, Energy $160k–$5.1M
Stratel
VC Fund
3 Norway, United Arab Emirates Seed, Pre-Seed Software, Robotics, Health Care $320k–$3M
Sarsia Seed Management
VC Fund
3 Norway Seed, Series A Biotechnology, Software, Pharmaceutical
Farvatn Venture
VC Fund
3 Norway, United States, United Kingdom Seed, Pre-Seed Software, Artificial Intelligence, Health Care $1M–$7.5M
Hadean Ventures
VC Fund
3 Norway, Sweden, Germany Series A, Series B Biotechnology, Health Care, Medical $4.3M–$79M
Arali Ventures
VC Fund
3 India, United States, Norway Seed, Series A, Pre-Seed Artificial Intelligence, Software, B2B $500k–$33M
TeleVenture Management
VC Fund
3 Norway, United States Seed, Series A Software, Manufacturing, Biotechnology
CCAP Investments & Advisory
VC Fund
2 Norway, Austria Series A, Series B Finance, Leasing, Payments
M Ventures
VC Fund
2 United States, United Kingdom, Switzerland Series A, Series B, Seed Biotechnology, Health Care, Therapeutics $2.4M–$100M
Sandwater
VC Fund
2 Norway, Germany, Sweden Series A, Seed Medical, Health Care, Agriculture
Canica
VC Fund
2 Norway, Denmark, Switzerland Private Equity, Series A, Series D Beauty, Retail, Medical $7M–$25M
Meneldor
VC Fund
2 Norway, Germany, United Kingdom Series A, Seed, Debt Financing Biotechnology, Health Care, Health Diagnostics $2.2M–$2.8M
Schibsted Growth
VC Fund
2 Sweden, Norway, France Seed, Series A Internet, Financial Services, E-Commerce $93k–$5.4M
Norwegian Research Council
VC Fund
1 Norway, Sweden Grant, Seed Biotechnology, Health Care, Information Technology $19k–$1.5M
DNB
VC Fund
1 Norway, Sweden, United States Post-IPO Debt, Debt Financing Renewable Energy, Energy, Solar $89M–$1.2B
Forbion Capital Partners
VC Fund
1 United States, United Kingdom, The Netherlands Series B, Series A, Series C Biotechnology, Health Care, Medical $15M–$176M
Forward Slash Capital
VC Fund
1 India, Norway, United States Seed Software, SaaS, EdTech $1.5M–$3M
Calm/Storm VC
VC Fund
1 United Kingdom, Germany, Austria Seed, Pre-Seed, Series A Health Care, Wellness, Software $478k–$18M
CoFounder
VC Fund
1 Norway Seed, Series A Industrial, Manufacturing, SaaS $821k–$2.3M
p53
VC Fund
1 Norway, Denmark Series A Biotechnology, Medical, Life Science $31M–$82M
Gezina
VC Fund
1 Norway Health Care, Biotechnology, Clinical Trials
Silicon Valley AS
VC Fund
1 Norway Seed, Pre-Seed Baby, Wellness, Health Care
byFounders
VC Fund
1 Denmark, United States, Sweden Seed, Pre-Seed, Series A Software, Artificial Intelligence, Health Care $800k–$65M
SpareBank 1
VC Fund
1 Norway Post-IPO Debt Robotics, Industrial, Health Diagnostics
Project Sandwater
VC Fund
1 Norway, The Netherlands Series A Medical, Consulting, Life Science $11M–$17M
Glastad Invest
VC Fund
1 Norway Health Care, Biotechnology, Clinical Trials
Persimmon Hill
VC Fund
1 Norway, United States Seed iOS, Gaming, Retail
Innovations Kapital
VC Fund
1 Sweden, Denmark, United States Series B, Series C Biotechnology, Health Care, Software $5.5M–$30M
Link Venture Capital
VC Fund
1 Norway, United Kingdom, The Netherlands Pre-Seed, Seed Software, Renewable Energy, Marine Technology $400k–$4.4M
The Index Project
VC Fund
1 United States, Denmark, Chile Seed, Series A, Series B Chemical, Artificial Intelligence, SaaS $1.1M–$3M
Advent Life Sciences
VC Fund
1 United States, United Kingdom, France Series A, Series B Biotechnology, Health Care, Medical $5.5M–$75M
SR One
VC Fund
1 United States, United Kingdom, Canada Series A, Series B, Series C Biotechnology, Health Care, Therapeutics $3.7M–$150M
Advent Venture Partners
VC Fund
1 United Kingdom, United States, Switzerland Series B, Series A Biotechnology, Health Care, Software $6.6M–$50M
Inventure
VC Fund
1 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Health Care $549k–$23M
Unbounded Capital
VC Fund
1 United States, China, Japan Series A, Pre-Seed, Seed Software, FinTech, Financial Services $10k–$14M
Arctic Investment Group
VC Fund
1 Norway Seed Health Care
HealthCap
VC Fund
1 United States, Sweden, France Series B, Series A Biotechnology, Health Care, Medical $5.7M–$88M
PAACS Invest AS
VC Fund
1 Norway Seed Consulting, Health Care, Biotechnology
H2O Holding AS
VC Fund
1 Norway Pre-Seed Software, Health Care, Life Science
Sarsia
VC Fund
1 Norway, Finland Pre-Seed, Seed, Series A Biotechnology, Pharmaceutical
Kupa
VC Fund
1 Norway Seed Health Care
Sofinnova Partners
VC Fund
1 France, United States, United Kingdom Series A, Series B, Series C Biotechnology, Health Care, Medical
Dynamk Capital
VC Fund
1 United States, Canada, Norway Series A, Seed, Series B Biotechnology, Medical, Health Care
Yabeo Capital
VC Fund
1 Germany, United States, United Kingdom Series A, Seed Financial Services, Health Care, FinTech
Lekh Corp AS
VC Fund
1 Norway Pre-Seed Software, Health Care, Life Science
ERM Invest
VC Fund
1 Norway Pre-Seed Software, Health Care, Life Science
SHS Capital
VC Fund
1 Germany, Switzerland, France Series C, Series A Health Care, Medical Device, Medical
Access all 123 VC funds in Norway Health Care startups.

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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: 118
  • Round size: Seed $400k–$3.3M; 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 — Sonair is an award-winning deep tech startup building a breakthrough, patented 3D ultrasonic sensor that enables true machine autonomy by making robots safe, affordable, and efficient. Sonair was spun out from a leading European independent research organization, SINTEF, to exploit deep science-to-tech advancements in ultrasonics andMicro-ElectroMechanical Systems (MEMS). Using this technology, the company is delivering a sensor that will transform a robot’s vision from 2D to 3D, offering a significantly improved safety performance over traditional vision systems while cutting costs by 50-80%. The company, based in Oslo, Norway, was founded in 2022 by an experienced team of serial entrepreneurs led by Knut Sandven, former CEO of GasSecure.
  • 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.
  • Kongsberg Ferrotech — Kongsberg Ferrotech offers game-changing robotic services for inspection, repair, and maintenance (IRM) of underwater installations
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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: Series A $1.2M–$22M
  • 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’ elegant Trocept platform has potential to treat some of the most intractable and widespread forms of cancer. Based in Oxford, UK, it is developing a pipeline of products to the early clinical trial stage. Led by Bent Jakobsen, PhD FMedSci, a pioneer of T cell receptor therapy for cancer, the team is highly experienced intaking immuno-oncology products to the clinic. Accession Therapeutics’ Trocept technology is based on over a decade’s work and has generated exceptional preclinical data.Accession Therapeutics’ proprietary technology incorporates cancer-tropic viruses, the first time that viruses have been genetically modified to exclusively target cancer cells. As non-cancerous cells are not targeted by Trocept, systemic toxicity is eliminated meaning the drugs can be delivered intravenously and traffic to the tumour. Trocept’s highly potent and local activity gives it potential in some of the hardest to treat and most widespread forms of cancer. This includes breast, cervical, colorectal, gastric, head and neck, lung, oral, ovarian and pancreatic cancer.
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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, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed
  • Geography: Norway, Denmark, United States

Investor stats

  • Total investments: 61
  • Round size: Seed $1.2M–$5.5M; Pre-Seed $336k–$3.3M
  • Lead/follow: 39% lead, 61% follow
  • Last fund: Likely still investing — fund raised in 2022

Portfolio highlights

  • SportAI — SportAI is a B2B sports technology firm that is spearheading the revolution in sports technique coaching, commentary, and analysis using advanced AI and machine learning. The company aims to boost sports performance and make high-quality sports data more accessible. SportAI's SaaS platform, powered by Computer Vision and Machine Learning,delivers unbiased sports technique analysis and AI-generated sports data to different sectors in the sports industry. This technology can seamlessly integrate into broadcasting, training apps, simulators, sporting equipment brands, and product recommendation websites, offering significant benefits to the global sports industry.
  • CYBRET AI — CYBRET AI is an AI security research and development lab that develops autonomous security solutions with humans in and not in the loop.
  • 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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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: Software, Manufacturing, Energy
  • Stage:Seed, Pre-Seed
  • Geography: Norway, United States, United Kingdom

Investor stats

  • Total investments: 29
  • Round size: Seed $160k–$5.1M; Pre-Seed $373k–$762k
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — raised $51M in 2018

Portfolio highlights

  • Nomono — Capture studio-quality podcasts with immersive 3D audio. Get professional mics, AI editing, and cloud storage in one system. Start your free trial today.
  • 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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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: 7
  • Round size: Seed $320k–$3M; Pre-Seed $1.6M–$2M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • Oivi — Smart and automated eye screening, anywhere.
  • Aivero — The Easiest Path from Camera to Machine Learning. Aivero provides an intuitive platform for real-time video streaming across multiple cameras, enabling effortless data capture from both 2D and 3D sensors
  • Inherit Carbon Solutions — Inherit Carbon Solutions creates durable nature-friendly carbon removal solutions.
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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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Farvatn Venture
VC Fund · 3 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: 16
  • Round size: Seed $1M–$7.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Scindo — Creating a novel biological process to turn low-value plastic landfill waste into high-value molecules.
  • Ocean Oasis — The future of wave powered desalination. We use wave energy to make sustainable and affordable water for coastal communities and businesses.
  • LIFENESS — Lifeness is a platform specialized in the treatment of lifestyle diseases and an entrepreneur from the fitness industry,
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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, Germany

Investor stats

  • Total investments: 30
  • Round size: Series A $4.3M–$79M; Series B $4.5M–$68M
  • Lead/follow: 47% lead, 53% 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
  • Complement Therapeutics — Turning powerful new Complement System insights into innovative treatments Developing the next generation of complement medicines [chevron-down] Turning powerful new Complement System insights into innovative treatments Developing the next generation of complement medicines [chevron-down] Geographic atrophy (late dry age-related macular degeneration) is a chronic eye condition that affects millions - and for which there is
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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: 38
  • Round size: Seed $550k–$3.5M; Pre-Seed $500k–$1.6M; Series A $567k–$33M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: May invest from a new fund soon — last raise in 2018

Portfolio highlights

  • Bidaal — Digital mapping for Illumination Surveying & Planning
  • Mannjal — Growth platform for regional NBFCs/Lenders
  • Quash — Quash is a developer tool built to automate the bug reporting process by capturing screenshots, recordings, crash logs, and more.
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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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Access 48,091 investors

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

Browse database — It's Free!
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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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: 170
  • Round size: Seed $2.4M–$22M; Series A $5.6M–$49M; Series B $15M–$100M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • Anjuna — Anjuna confidential cloud software establishes a secure enclave that isolates and encrypts applications and data in runtime, at rest, and on the network for end-to-end data protection
  • Biolinq — Introducing a revolutionary platform for metabolic health.
  • Asceneuron — Asceneuron develops effective therapeutics for orphan tauopathies and Alzheimer’s disease. By focusing on areas of high unmet medical need, Asceneuron aspires to become a leading biotech company specialized in small molecule drug discovery for neurodegenerative diseases.Tauopathies are currently untreatable neurodegenerative diseases thatrapidly progress towards debilitating conditions. The appearance of deposits of the microtubule-associated tau protein as e.g. neurofibrillary tangles in neurons of the brain is a common feature of tauopathies that is shared with Alzheimer’s disease. Neuronal tau deposits are known to be a major contributor to neurodegeneration and mutations in the tau gene are causative of the tauopathy fronto-temporal dementia and parkinsonism linked to chromosome 17 (FTDP-17).Due to increasing life expectancy, Alzheimer’s disease is viewed as one of the largest healthcare problems of this century, imposing a major economic burden on societies in the Western and developing world. Current treatment options provide limited benefits supporting the urgent need for more efficacious and better tolerated medicines that address symptomatic relief as well as disease progression.
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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: Medical, Health Care, Agriculture
  • Stage:Series A, Seed
  • Geography: Norway, Germany, Sweden

Investor stats

  • Total investments: 14
  • Lead/follow: no public data

Portfolio highlights

  • Filics — A scalable transport solution for standardized load carriers with a minimum energy footprint
  • Cytovation — Cytovation AS is a privately-held biotech company, specialising in dermatological diseases, based in Bergen, Norway.
  • Enduro Genetics — Bioproduction can be difficult to scale to large cultivation volumes while keeping titers high. By applying game-changing synthetic biology technology, Enduro Genetics empowers our partner companies to maximize performance of all cells cultivated from their production strains.
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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: Beauty, Retail, Medical
  • Stage:Private Equity, Series A, Series D
  • Geography: Norway, Denmark, Switzerland

Investor stats

  • Total investments: 10
  • Round size: Series A $7M–$25M
  • Lead/follow: 30% lead, 70% follow

Portfolio highlights

  • Cytovation — Cytovation AS is a privately-held biotech company, specialising in dermatological diseases, based in Bergen, Norway.
  • Porterbuddy — They are the gang that delivers to your door the same day you order in the online store.Porterbuddy'​ is a logistics platform that provides efficient and customer-centric, last-mile delivery of products.
  • Galecto — Damora Therapeutics is working to fundamentally redefine care for people with blood disorders by bringing forward optimized therapies that dramatically improve patient outcomes.
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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, Health Diagnostics
  • Stage:Series A, Seed, Debt Financing
  • Geography: Norway, Germany, United Kingdom

Investor stats

  • Total investments: 5
  • Round size: Series A $2.2M–$2.8M
  • 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.
  • Aptamer Group — Rapid Optimer development as antibody alternatives for therapeutic, drug delivery, diagnostics and bioprocessing.
  • Atriva Therapeutics — Therapies against viral infections. First-in-class host-targeting therapies to treat respiratory viral infections, including COVID-19 and influenza.
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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–$5.4M
  • Lead/follow: 76% lead, 24% 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 Norwegian startup delivering payment, checkout, crm & loyalty solutions.
  • 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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Norwegian Research Council
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

The Norwegian Research Council is the government's central research advisor. In 2012, the Research Council researched with more than 7 billion. This represents about 30% of R & D funding in the state budget.

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Investment focus

  • Industry: Biotechnology, Health Care, Information Technology
  • Stage:Grant, Seed
  • Geography: Norway, Sweden

Investor stats

  • Total investments: 18
  • Round size: Grant $19k–$1.5M
  • Lead/follow: 56% lead, 44% follow

Portfolio highlights

  • Borregaard ASA — Borregaard operates one of the world's most advanced and sustainable biorefineries.
  • Lace Lithography — Lace is building the patterning technology that will power the next 100 years of semiconductor manufacturing.
  • Elkem — Elkem is one of the world’s leading companies for environment responsible production of materials. Its principal products are silicon, silicones, ferrosilicon, foundry alloys, carbon materials and microsilica.Elkem has 24 production facilities in Europe, North and South America, Africa and Asia, as well as an extensive network of sales officesand agents covering the most important markets.
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DNB
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

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

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Investment focus

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

Investor stats

  • Total investments: 43
  • Round size: Post-IPO Debt $89M–$1.2B; Debt Financing $94M–$683M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • Astor — Scandinavian Astor Group is a Swedish industrial and defense group.
  • Low Carbon — Low Carbon focuses on large-scale renewable energy investments embracing proven technologies including solar, wind, waste to energy and battery storage.
  • Capsol Technologies ASA
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Forbion Capital Partners
VC Fund · Naarden, Noord-Holland, The Netherlands · 1 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: 187
  • Round size: Series A $16M–$176M; Series B $15M–$155M; Series C $19M–$113M
  • Lead/follow: 51% lead, 49% follow
  • Last fund: Likely actively investing — fund raised in 2024

Portfolio highlights

  • F2G — F2G is a biopharmaceutical company developing novel therapies for life-threatening fungal infections.
  • Noema Pharma — DRIVING BETTER OUTCOMES Advancing therapeutics designed to deliver superior clinical benefit across both orphan and broader neurology indications Who we are ...
  • Beacon Therapeutics — Beacon aids in restoring and improving the vision of patients with ophthalmic gene therapy. Find out more.
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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: Software, SaaS, EdTech
  • Stage:Seed
  • Geography: India, Norway, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $1.5M–$3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Oivi — Smart and automated eye screening, anywhere.
  • 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.
  • Herd Security — Herd Security is a cybersecurity company focused on protecting banking customers from the rising threat of AI-driven voice phishing (vishing) and social engineering scams. Leveraging advanced voice detection and AI technologies, Herd Security provides banks with real-time insights into potential vishing attacks, including those targeting high-risktransactions like wire fraud and elderly fraud. Designed to defend against the growing sophistication of AI-generated deepfake voice fraud, Herd Security offers security teams the tools and intelligence they need to safeguard customers’ sensitive information and financial assets. The platform integrates seamlessly with existing security infrastructures, empowering organizations to stay one step ahead of evolving social engineering threats.
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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: 123
  • Round size: Seed $1.3M–$7.3M; Pre-Seed $478k–$2.7M; Series A $6M–$18M
  • Lead/follow: 7% lead, 93% follow
  • Last fund: May invest from a new fund soon — raised $23M in 2020

Portfolio highlights

  • ThinkSono — ThinkSono Guidance enables any non-ultrasound trained healthcare professional to scan for blood clots (DVT). It reduces waiting times, negative DVT cases and can be used at the point of care.
  • Univa Health — Eating disorders care for children, teens and adults. Support for parents and carers to strengthen recovery
  • Bea Fertility — Bea Fertility is a monthly subscription program that provides users with at-home fertility treatment and ovulation tracking.
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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 $821k–$2.3M
  • Lead/follow: 10% lead, 90% follow

Portfolio highlights

  • Nicoustic — Nicoustic developed accurate, non-intrusive technology for separator-level measurement based on Guided Ultrasonic Waves. Their technique uses guided ultrasonic waves to measure the amounts of solids and liquids using sensors. It is being developed to measure the interface layers between emulsion and foam.Nicoustic's prototype is the outcomeof 20 years of study at the German Fraunhofer IKTS and a response to a challenge put forth by Equinor, the largest energy company in Norway.
  • 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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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 $31M–$82M
  • 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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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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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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byFounders
VC Fund · Copenhagen, Hovedstaden, Denmark · 1 investments in Norway Health Care startups, 16 in the past 12 months

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: 104
  • Round size: Seed $1.5M–$8M; Pre-Seed $800k–$4.2M; Series A $6.1M–$65M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely still investing — raised $117M in 2021

Portfolio highlights

  • Flare — Flare builds infrastructure for a more internet by connecting real-world data with machine learning in a verifiable way.This combines human intelligence with advanced AI to improve the clarity and reliability of information.Its goal is to create a shared, high-quality knowledge foundation that helps people navigate information with confidence.
  • Verda (formerly DataCrunch) — DataCrunch is a cloud service provider which facilitates utilization and integration of state of the art AI/ML models
  • Spiral Hydrogen — Spiral Hydrogen's mission is to lower the price of green hydrogen below that of fossil hydrogen, so opening up an industry for decarbonization and making hydrogen transportation and heating commercially viable.
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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: Robotics, Industrial, Health Diagnostics
  • Stage:Post-IPO Debt
  • Geography: Norway

Investor stats

  • Total investments: 3
  • Lead/follow: 0% lead, 100% 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.
  • 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.
  • 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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Project Sandwater
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Project Sandwater is a fresh take on venture investments within the Nordics and beyond.

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Investment focus

  • Industry: Medical, Consulting, Life Science
  • Stage:Series A
  • Geography: Norway, The Netherlands

Investor stats

  • Total investments: 2
  • Round size: Series A $11M–$17M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Delft IMP — Delft IMP (Intensified Materials Production) commercializes nanostructuring of particles using atomic and molecular layer deposition (ALD and MLD), based on the patented and publicized IP and know-how developed within the Product & Process Engineering (PPE) group at Delft University of Technology. Following various feasibility projects betweenindustry and university, Delft IMP was initiated end 2014 to truly commercialize the technology.
  • Cytovation — Cytovation AS is a privately-held biotech company, specialising in dermatological diseases, based in Bergen, Norway.
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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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Persimmon Hill
VC Fund · 1 investments in Norway Health Care startups

Persimmon Hill

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Investment focus

  • Industry: iOS, Gaming, Retail
  • Stage:Seed
  • Geography: Norway, United States

Investor stats

  • Total investments: 2
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • UNISOT™ — UNISOT™ is a Norwegian B2B Supply Chain Sustainability PaaS, enabling global supply chain actors to be more sustainable as well as enabling them to prove it to their customers and consumers. With our 360° Supply Chain connectivity we also enable our customers to produce verifiable ESG/Sustainability reporting as well as verifiable End-to-EndScope 3 (GHG) reporting.Our main focus is to provide solutions to all actors of global supply chains to be more sustainable by being more efficient as well as provide tools that enable them to Prove their product Quality, Provenance and Sustainability; all functions that are becoming mandatory with the new regulations like UN/EU Supply Chain Traceability laws, EU Taxonomy for Sustainability and EPA Scope 1,2,3 https://unisot.com/esg.
  • FYX Gaming — Web3 development platform & scaling solutions on the blockchain, proud creator of CryptoFights.
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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 — Providing a surprisingly human shopping experience. Trusted and secure. Millions of domains to choose from.
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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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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: 65
  • Round size: Series A $5.5M–$53M; Series B $21M–$75M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: May invest from a new fund soon — last raise in 2021

Portfolio highlights

  • MiroBio — MiroBio's platform is based on ground-breaking research by their scientific founders at the University of Oxford delineating how immune cells communicate and how they are activated. These insights have enabled MiroBio to create antibodies that can leverage natural signalling mechanisms to restore immune system balance and control.
  • Acutus Medical — Acutus Medical develops medical technologies to treat complex cardiac arrhythmia. The company's platform displays the heart’s true activation pattern, turning the chaos of a complex arrhythmia into a clear vision for electrophysiologists.Acutus Medical is a privately funded company founded in 2011 and based in Carlsbad, California. Itsproducts are co-developed in the U.S. and Europe with an exceptional team of medical scientists, biomedical engineers, and other professionals.It was founded in 2011 and headquartered in Carlsbad, California.
  • Beacon Therapeutics — Beacon aids in restoring and improving the vision of patients with ophthalmic gene therapy. Find out more.
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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: 189
  • Round size: Series A $3.7M–$140M; Series B $15M–$114M; Series C $22M–$150M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — fund raised in 2023

Portfolio highlights

  • Turning Point Therapeutics — The Investor Relations website contains information about Turning Point Therapeutics, Inc.'s business for stockholders, potential investors, and financial analysts.
  • Nkarta Therapeutics — Nkarta seeks to improve upon the efficacy of cell therapy, making it more potent, better tolerated and more rapidly available to a broad population of patients with a variety of hematologic and solid tumor malignancies.While T-cell therapy, often known as CAR-T, has proven successful in certain cancer indications, its promise has been limited toa few hematologic malignancies and the side effects can be severe. Natural Killer cells are the immune system’s first responders against diseases and pathogens. Unlike T cells, they have an inherent ability to target tumor cells without genetic alteration, and therefore hold significant promise in the development of potent therapies that can be used more readily for diverse tumor types. Nkarta’s differentiated cell therapy approach is designed to boost and enhance the inherent power of Natural Killer cells to target and destroy tumor cells, while also offering a better tolerated safety profile.
  • River Vision Development — River Vision Development develops RV001, a protein therapy for the treatment of Graves’ Orbitopathy (GO). River Vision Development was founded in 2011 and is based in New York, New York.
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Advent Venture Partners
VC Fund · London, England, United Kingdom · 1 investments in Norway Health Care startups

Advent Venture Partners is one of Europe's most successful growth and venture capital investors in market-leading tech and life sciences businesses. They have designed their strategy, teams and funds so they can focus on backing a select few companies. They pride their selves on establishing true partnerships with entrepreneurs in order tobuild valuable businesses together.

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Investment focus

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

Investor stats

  • Total investments: 91
  • Round size: Series A $6.6M–$26M; Series B $7M–$50M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: May invest from a new fund soon — raised $25M in 2019

Portfolio highlights

  • Wiz — Organizations of all sizes and industries use Wiz to rapidly identify and remove the most critical risks in AWS, Azure, GCP, and Kubernetes so they can build faster and more securely.
  • OpenCloud — Our cloud native software solutions dramatically improve operator business models and help quickly create new revenue-generating services.
  • Acutus Medical — Acutus Medical develops medical technologies to treat complex cardiac arrhythmia. The company's platform displays the heart’s true activation pattern, turning the chaos of a complex arrhythmia into a clear vision for electrophysiologists.Acutus Medical is a privately funded company founded in 2011 and based in Carlsbad, California. Itsproducts are co-developed in the U.S. and Europe with an exceptional team of medical scientists, biomedical engineers, and other professionals.It was founded in 2011 and headquartered in Carlsbad, California.
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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, United States

Investor stats

  • Total investments: 165
  • Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$23M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $169M in 2022

Portfolio highlights

  • Finch — Optimize building design with AI and graph technology. Get immediate feedback on performance, detect errors and find optimal solutions.
  • Reveel — Say goodbye to paper maps, brochures, and outdated audio guides. Reveel offers digital solutions for destinations such as UNESCO sites, sights, museums, cities, hotels and parks, taking the visitor experience to the next level. Become part of the smart destination movement, enhance the visitor experience, and discover the future of travel.
  • ONEiO — ONEiO is a cloud-native integration service provider connecting people, processes, and tools – enabling seamless collaboration without traditional integration hassle. Provided as a turn-key solution, as self-service, or something in between. You choose.
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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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Arctic Investment Group
VC Fund · Tromsø, Troms, Norway · 1 investments in Norway Health Care startups

Vi investerer i nordnorske vekstselskaper med globale ambisjoner!

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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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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: 126
  • Round size: Series A $5.7M–$55M; Series B $12M–$88M
  • Lead/follow: 24% lead, 76% follow
  • Last fund: May invest from a new fund soon — raised $209M in 2019

Portfolio highlights

  • Positrigo — NeuroLF is an ultra-compact brain Positron Emission Tomography system. Our technology makes functional imaging accessible for people worldwide.
  • 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
  • Tribune Therapeutics — Tribune Therapeutics is a preclinical biopharmaceutical company building a promising pipeline of novel medicines to treat patients with a wide range of fibrotic diseases. It was founded in 2020 with funding from HealthCap and Novo Seeds.
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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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H2O Holding AS
VC Fund · 1 investments in Norway Health Care startups

Investment

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Investment focus

  • Industry: Software, Health Care, Life Science
  • Stage:Pre-Seed
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • Aurora Analytica — AI-powered clinical intelligence for CROs. Country strategy, feasibility simulation, and trial intelligence in one platform. ESMO-published. EIC-selected. Norway.
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Sarsia
VC Fund · Bergen, Hordaland, Norway · 1 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: Biotechnology, Pharmaceutical
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Norway, Finland

Investor stats

  • Total investments: 5
  • Lead/follow: 40% lead, 60% follow

Portfolio highlights

  • Cetasol
  • Keelspot
  • 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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Kupa
VC Fund · 1 investments in Norway Health Care startups

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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Sofinnova Partners
VC Fund · Paris, Ile-de-France, France · 1 investments in Norway Health Care startups

Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise.

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Investment focus

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

Investor stats

  • Total investments: 288
  • Lead/follow: no public data

Portfolio highlights

  • DNA Script — DNA Script is a disruptive DNA synthesis company engineering biology to accelerate breakthroughs in life science and human health. Their revolutionary enzymatic technology powers the world's first benchtop DNA printer, SYNTAX, enabling labs to print their own synthetic oligos for greater workflow control and faster access to results.
  • AAVantgarde Bio — AAVantgarde Bio is developing gene therapies for inherited retinal disorders.
  • Excelsior Sciences — Rebuilding the World, From the Bottom Up
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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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Yabeo Capital
VC Fund · Grünwald, Bayern, Germany · 1 investments in Norway Health Care startups

We are an early-stage investor that believes in flexible Evergreen funding without the limitations of traditional funds.

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Investment focus

  • Industry: Financial Services, Health Care, FinTech
  • Stage:Series A, Seed
  • Geography: Germany, United States, United Kingdom

Investor stats

  • Total investments: 40
  • Lead/follow: no public data

Portfolio highlights

  • Wellth — Improve quality scores, reduce high cost utilization, address health equity, and improve member satisfaction by using the right incentive at the right time to create life-changing healthy habits through Wellth.
  • PIONIX — open source software as a service for charging stations / e-mobility
  • Rabot Charge — Rabot Charge offers intelligent charging management solutions for customers to charge their electric cars at home.
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Lekh Corp AS
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Investment Company

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Investment focus

  • Industry: Software, Health Care, Life Science
  • Stage:Pre-Seed
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Aurora Analytica — Founded in February 2023 and incorporated in January 2024, Aurora Analytica is a pioneering health technology company dedicated to optimizing the clinical trial lifecycle and accelerating the development of new treatment options. Our AI-powered platform provides strategic insights, site intelligence, and data-driven tools that enable biotech andpharmaceutical companies to design faster, smarter trials. A single platform that brings together essential assessments, the Aurora Suite™ consists of eleven interconnected modules that function collaboratively within a comprehensive analytics environment. Built on over 30 years of industry expertise, Aurora Analytica bridges the gap between innovation and execution—reducing costs, improving accuracy, and ultimately helping bring better therapies to patients, faster.
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ERM Invest
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Health Care startups

Investment Company

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Investment focus

  • Industry: Software, Health Care, Life Science
  • Stage:Pre-Seed
  • Geography: Norway

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Aurora Analytica — Founded in February 2023 and incorporated in January 2024, Aurora Analytica is a pioneering health technology company dedicated to optimizing the clinical trial lifecycle and accelerating the development of new treatment options. Our AI-powered platform provides strategic insights, site intelligence, and data-driven tools that enable biotech andpharmaceutical companies to design faster, smarter trials. A single platform that brings together essential assessments, the Aurora Suite™ consists of eleven interconnected modules that function collaboratively within a comprehensive analytics environment. Built on over 30 years of industry expertise, Aurora Analytica bridges the gap between innovation and execution—reducing costs, improving accuracy, and ultimately helping bring better therapies to patients, faster.
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SHS Capital
VC Fund · Tübingen, Baden-Wurttemberg, Germany · 1 investments in Norway Health Care startups

Mission With our investments, SHS Capital supports fast-growing companies in their mission to become European healthcare champions. Located in the …

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Investment focus

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

Investor stats

  • Total investments: 39
  • Lead/follow: no public data

Portfolio highlights

  • MESI Medical — The MESI mTABLET provides predictive medical assessment with a wide selection of hardware modules, software extensions and different integration options.
  • Dr.Dropin — Dr.Dropin an accessible and modern private health service that offers the vast majority of medical services at a fixed price.
  • Simulands — Human grade cardiovascular simulators
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Health Care VC funding in Norway at a glance

Stats across 127 deals from 123 investors.

123
investors
in Norway Health Care startups
127
deals
in Norway Health Care startups
$2.1M
median round
in Norway Health Care startups
41%
lead investors
lead at least one round
17%
Seed
most common funding stage

Access all 123 VC funds in Norway Health Care startups.

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