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Top 10 Medical Device VC (Venture Capital) Funds in Norway in September 2025

Last updated: Sep 2025 A list of 10 VC (Venture Capital) funds that invest in Medical device startups based in Norway. We rank investors based on the number of investments they made in Medical device companies from Norway. We update this investor list every month.

Top 10 Medical Device VC (Venture Capital) Funds in Norway in September 2025

Investor	Medical Device Norway investments
Arali Ventures	3
Stratel	3
Skyfall Ventures	3
Investinor	3
Farvatn Venture	2
CoFounder	1
Nordic Angel Program	1
Hadean Ventures	1
SINTEF Venture AS	1
ProVenture	1

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Investor list

We are a seed fund focused on enterprise tech businesses out of India. We invest early, help build the venture with the promoter teams.

Investment focus

Artificial Intelligence, Software, B2B
Seed, Series A, Pre-Seed
India, United States, Norway

Portfolio highlights

Quash — Quash is a developer tool built to automate the bug reporting process by capturing screenshots, recordings, crash logs, and more.
Harvested Robotics — Harvested Robotics is an ag-tech company that focuses on safeguarding farms from weeds and diseases by lasers, robotics, and AI technology.
FluxGen Sustainable Technologies — FluxGen Sustainable Technologies is an AI and IoT start-up company engaged in developing engineering technologies for energy systems.

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.

Investment focus

Software, Robotics, Health Care
Seed, Pre-Seed, Funding Round
Norway, United Arab Emirates

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.

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

Investment focus

Software, Information Technology, Artificial Intelligence
Pre-Seed, Seed, Funding Round
Norway, Denmark, United States

Portfolio highlights

Deckmatch — Tooling to drink from the firehose of data, that is your top of funnel (TOFU)
Take Take Take — Fantasy Chess is a platform that allows users to pick teams of real-world chess players, track their performance in tournaments, and receive points based on their achievement.
Starflow — Starflow goal is to create a scalable energy system that helps people achieve energy independence.

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.

Investment focus

Software, Biotechnology, Manufacturing
Funding Round, Series A, Seed
Norway, United States, Sweden

Portfolio highlights

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.
Actithera — Actithera is a molecular radiotherapeutic company that develops radioligand therapies. It translates medicinal chemistry insights into new radioligand therapies (RLTs) and applies various molecular design strategies, including covalent targeting and an isotope-agnostic philosophy, to invent RLTs with significant differentiation and largertherapeutic windows.
Kongsberg Ferrotech — Kongsberg Ferrotech offers game-changing robotic services for inspection, repair, and maintenance (IRM) of underwater installations

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

Investment focus

Water, Apps, SaaS
Seed, Series A, Funding Round
Norway, United States, United Kingdom

Portfolio highlights

LAXEY — LAXEY specializes in sustainable land-based aquaculture and the development of fish farming facilities.
Evari — Advanced manufacturer of next-gen turbocompressors, driving breakthrough heat pump performance
Inherit Carbon Solutions — Inherit Carbon Solutions creates durable nature-friendly carbon removal solutions.

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.

Investment focus

Manufacturing, Industrial, SaaS
Seed, Funding Round, Series A
Norway

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 — Any cashier system can now identify customers and send digital receipts to their mobile banking.

International training and investment program for business angels

Investment focus

Apps, Medical, Software
Seed, Angel
Norway, Finland

Portfolio highlights

GlucoSet — GlucoSet develops tools for accurate continuous glucose monitoring in Intensive Care Units, to reduce patient mortality and hospital costs.
Screenful — Screenful is the easiest way to visualise your project progress using data from Jira, Trello, Asana, Github & Gitlab. Save time and get all the metrics you need at a glance with automated dashboards, custom charts and predictive reporting all in one place.

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

Investment focus

Biotechnology, Health Care, Pharmaceutical
Series A, Funding Round, Series B
Sweden, Norway, Austria

Portfolio highlights

SciRhom — SciRhom GmbH is a biotech company that translates science into the preclinical and early clinical development of novel biopharmaceuticals for the treatment of life-threatening autoimmune diseases. Based on longstanding academic research and a well-established network of experts, SciRhom was founded in 2016 through a collaboration between academicand industry scientists with profound experience in antibody development.
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
Alex Therapeutics — The Alex DTx Platform enables partners within pharma and health care to effectively and reliably launch new DTx treatments by leveraging existing insights, modules, processes and data.

We commercialize technology created by SINTEF's research environments

Investment focus

Manufacturing, Software, Energy
Seed, Funding Round, Pre-Seed
Norway, United States, United Kingdom

Portfolio highlights

Nomono — Nomono delivers studio-grade spoken audio with next-gen wireless tools. Record anywhere, auto-enhance with AI, and edit in the cloud - trusted by storytellers
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.

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).

Investment focus

Software, Oil and Gas, Information Technology
Seed, Funding Round, Series A
Norway, United States, India

Portfolio highlights

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.
Wanda — Wanda.space is a technology and logistics start-up delivering space as a service.
Cimon Medical — Cimon Medical develops and manufactures novel Doppler ultrasound technology for healthcare and aim to become the market leader in continuous direct monitoring of blood-flow. The first product to be released in Q4 21 is NeoDoppler - non-invasive continuous monitoring of blood-flow in the brain of premature or critically ill infants.

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