Top 30 Medical VC Funds & Investors in Norway (November 2026)

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.

Portfolio highlights

• Mueon — semiconductor-based systems for AI and hyperscale computing
• Nouscom — Nouscom is a next-generation immunotherapy company developing genetic cancer vaccines and oncolytic viruses..
• 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

Portfolio highlights

• 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.
• Kasvu Therapeutics — Kasvu develops first and best-in-class small molecule neuroplastogens for diseases where neuronal connectivity is altered
• 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.

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.

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.

Portfolio highlights

• Sonair — Sonair is building ADAR, the world's first safety-certified 3D sensor for human-robot collaboration. The commercial product is available now. Reach out for a demo.
• 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 — Muybridge builds real-time, software-defined cameras. Be anywhere: capture, replay and navigate live action from any angle, with zero latency.

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.
• Birdsview — Sensor fusion of GPR radar, lidar and camera plus AI analysis: see inside any concrete structure without breaking it.

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.

Portfolio highlights

• 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.
• Spica Therapeutics — Spica Therapeutics develops precision therapies that selectively target disease-driving macrophage subsets in oncology, fibrosis and chronic diseases.
• Primmune Therapeutics — Primmune Therapeutics is developing small molecule, orally-administered toll-like receptor 7 (TLR7) agonists to attack tumors and potentiate adaptive cancer immunotherapies, such as checkpoint inhibitors, to improve overall response rates and treatment durability.

Portfolio highlights

• Piomic — Non-invasive treatment with minimal staff supervision to produce a durable structural, functional and cosmetic closure of hard-to-heal wounds.
• 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.

Portfolio highlights

• GlucoSet — GlucoSet develops tools for accurate continuous glucose monitoring in Intensive Care Units, to reduce patient mortality and hospital costs.
• Fractory — Custom metal fabrication services | Prototyping, project & volume production | 1-1 engineering support, flexible payment terms, instant quotes & lead times.
• Zelos Team Management — Zelos Team Management is a claim-based signup app for volunteer and on-demand teams. Post shifts and tasks, let people claim what fits, and coordinate in built-in chat. Free for unlimited members.

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.

Portfolio highlights

• Khoy — Khoy Company is a furniture company focused on designing and developing comfortable, user-friendly, and sustainable sofa beds. It combines functionality, comfort, and modern design to create versatile furniture for everyday living, with an emphasis on sustainability and space efficiency.
• AnaCardio — AnaCardio develops drugs targeting a novel mechanism that improves cardiac contractility and aims to improve clinical outcomes in heart failure.
• Bahn Express — Bahn Express is a global car transportation company that supports independent contractors while offering quick and easy auto shipping throughout Europe.

Portfolio highlights

• Dr.Dropin — Dr.Dropin an accessible and modern private health service that offers the vast majority of medical services at a fixed price.
• Oda — Oda is an online grocery retailer that provides door-to-door delivery services. It offers a huge range of fresh produce groceries to millions of doorsteps. Using the data-driven methodology, with a focus on sustainability all the way along the chain, the company aims to build an efficient retail system in the world. The company was founded in2013 and is headquartered in Oslo, Norway.
• 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.

Portfolio highlights

• Dr.Dropin — Dr.Dropin an accessible and modern private health service that offers the vast majority of medical services at a fixed price.
• Molo Finance — Molo is the UK's first fully-digital mortgage lender. We're transforming the mortgage experience to make it faster, better and cheaper for our customers. We achieve this by pioneering technology and AI, to ensure real time decision making and instant data validation, eliminating any paperwork, waiting time and hassle. Direct-to-consumerand straight to the point.

Portfolio highlights

• ADCendo — ADCendo ApS is a biotech company dedicated to developing new types of anti-cancer drugs. We focus on antibody-drug conjugates (ADCs) directed at novel targets, that have been found to be overexpressed by several cancer forms, that are all characterized by a significant unmet need for novel treatment.
• Enveda Biosciences — Enveda exists to give hope to millions of people around the world by accelerating the discovery of better medicines.
• Lisata Therapeutics — Lisata is a clinical-stage pharmaceutical company dedicated to improving lives through the discovery, development, and commercialization of innovative medicines.

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.

Portfolio highlights

• Yazen — Yazen is a digital healthcare provider that offers tailored weight loss programs, combining medical treatments with lifestyle coaching. The platform connects users with a team of experts, including doctors, dietitians, and personal trainers, to create individualized weight management plans.
• WithLess — Apps multiply, costs grow, admin spirals. We get it. The tools your team needs WithLess time, money, and admin.
• norahealth.ai — Leading 3D motion-tracking API that powers digital MSK, health & wellness applications. Automatize motion assessments and track the adherence of your members with our extensive exercise library.

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®.
• AMRA Medical — AMRA Medical is a digital health company transforming medical research and clinical care using rapid whole-body MRI technology.
• Ultragenyx Pharmaceutical — Ultragenyx is focused on developing first-ever approved treatments for rare and ultrarare diseases and moving the rare disease community forward.

Portfolio highlights

• Dren Bio — Dren Bio is a biotechnology company with a portfolio of attractive projects focused on powerful protein engineering technologies for the depletion of cells, protein aggregates, and other disease-causing agents. It is a holding company business model aimed at creating value with multiple projects as stand-alone assets.
• CalciMedica — CalciMedica is a clinical-stage biopharmaceutical company advancing CRAC channel inhibitors for pulmonary hypertension and acute pancreatitis.
• Windward Bio — Windward Bio is a clinical-stage, drug development company committed to improving outcomes for people living with serious immunological diseases.

Portfolio highlights

• Odoo — From ERP to CRM, eCommerce and CMS. Download Odoo or use it in the cloud. Grow Your Business.
• IMIO — Improve efficiency across the crop nutrient cycle. IMIO natural microbial products reliably increase nutrient availability and reduce tillage.
• DMC Biotechnologies — Transforming How the World Makes Chemicals

Portfolio highlights

• 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.
• Ambros Therapeutics — Ambros Therapeutics is a clinical-stage biotechnology company focused on the development of innovative and transformative medicines for diseases.
• Reunion Neuroscience — Reunion Neuroscience is a clinical-stage pharmaceutical company developing therapeutic solutions for underserved mental health conditions. The Company’s lead asset, RE104, is a proprietary, novel serotonergic psychedelic compound being developed as a potential fast-acting and durable antidepressant for patients suffering from postpartum depressionand other mental health conditions. Reunion is also developing the RE200 series, which includes compounds with the potential for more selective serotonin receptor activity and reduced psychoactivity for application in more chronic treatment paradigms and indications.

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.

Portfolio highlights

• Undecimal Bio — Undecimal Bio operates as a platform biotechnology company that develops targeted delivery mechanisms for small interfering RNA (siRNA) therapeutics. The company utilizes a proprietary platform that combines combinatorial chemistry libraries with transformer-based artificial intelligence to discover molecular conjugates capable of guiding genetic medicines to specified cells outside of the liver. This approach aims to circumvent traditional delivery constraints to expand the reach of RNA therapeutics into a broader range of therapeutic areas and human organs.
• Aptadir Therapeutics — Reprogramming DNA methylation in disease conditions by RNA therapeutics APTADIR Contact us NEWS Press Release Reprogramming DNA methylation by RNA therapeutics A novel therapeutic approach for untreatable cancers and rare diseases Aberrant methylation by DNA methyltransferase 1 (DNMT1) of certain genes may cause abnormal cell development and lead to disease. Current therapies targeted to inhibit
• Estuary Biotherapeutics — Estuary Biotherapeutics is a biotechnology company developing genetic medicines for serious kidney diseases. The company focuses on targeted gene therapies designed to address the underlying genetic causes of autosomal dominant polycystic kidney disease (ADPKD), an inherited disorder characterized by the growth of cysts in the kidneys. Its pipeline includes EST-201, an adeno-associated virus (AAV)-based gene therapy designed to deliver a functional copy of the PKD2 gene, and EST-101, a gene therapy designed to deliver a functional region of the polycystin-1 protein for patients with PKD1 mutations. Both programs use a kidney-directed delivery approach intended to restore polycystin protein activity and address the biological processes responsible for cyst formation. The company’s research builds on discoveries involving the restoration of polycystin expression and its effects on cystic kidney disease. Estuary Biotherapeutics plans to advance its lead candidates into clinical development while expanding its technology platform for kidney-targeted genetic medicines. Its work focuses on developing treatments that may halt or reverse disease progression rather than solely slow the decline in kidney function.

Portfolio highlights

• Heidi Health — Heidi Health develops an ambient AI medical scribe platform that automates clinical documentation and related tasks. It listens to patient-clinician conversations, transcribes key highlights, and then produces structured notes, referral letters, patient summaries, billing codes, and other downstream documents. The system supports customizabletemplates, allows editing during sessions, and integrates with various EHR systems while offering compliance with privacy and security standards. Clinicians in multiple specialties and care settings use Heidi to reduce administrative burden, improve focus on patient care, and streamline workflows.
• VulnCheck — Vulnerability intelligence that predicts avenues of attack with speed and accuracy.
• Grain — Grain offers the only end-to-end embedded cross currency solution that allows software platforms and marketplaces to eliminate FX risk for their end customers. With a simple, automated tool, Grain's partners and their customers can lock currency rates and transfer funds across borders without the hassle of banks or brokers.

Portfolio highlights

• AdTube — AdTube is a programmatic ad platform that can automate and optimize the entire advertising process. It is tailored for industries such as e-commerce, real estate, automotive, and motor. The company was founded in 2016 and is headquartered in Trondheim, Sør-Trøndelag.
• Avexxin — Avexxin's therapeutic approach is built on more than a decade of research into the biological mechanisms involved in inflammatory diseases at the Norwegian University of Science and Technology. Avexxin's goal is to create a therapeutic company based on the discovery and development of novel therapeutics that address the fundamentalmechanisms involved in inflammatory diseases.
• Aristeia — Aristeia AS develops tourniquet system for use in the military and civilian trauma care.

Portfolio highlights

• Rebill — Rebill.com is the payments and subscriptions platform specifically designed for digital businesses and global companies scaling in Latin America.With our platform and API, companies can integrate over 100 local payment methods from the region, including cards, bank transfers, cash, and even wallets. In addition, they always receive the best humansupport with fair pricing and utmost transparency, enabling them to scale across the region 10 times faster.We are backed and have received investment from some of the world's leading funds such as Tiger Global Management, Soma Capital, SV Angel, Y Combinator, as well as incredible angel investors like Guillermo Rauch (Vercel), Arash Ferdowsi (Dropbox), among others.
• FirstWork — Applied AI for frontline enterprises. Forward-deployed AI agents that automate workforce operations inside your existing systems.
• Ramp — Join thousands of forward-thinking businesses using Ramp to control spend, save time, and automate busywork.

Portfolio highlights

• Circio — Circio Holding ASA (OSE:TRVX, to be changed to CRNA), a biotechnology company developing novel circular RNA and immunotherapy medicines.

Portfolio highlights

• Circio — Circio Holding ASA (OSE:TRVX, to be changed to CRNA), a biotechnology company developing novel circular RNA and immunotherapy medicines.

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.