# Canica

> Canica is a VC fund in Oslo backing Biotechnology, Beauty and Retail. See 14 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Oslo, Norway
- Total investments: 14
- Last investment: Jun 2023
- Lead investor: 21%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/canica-as/
- Website: http://canica.no

Canica is a VC fund in Oslo focused on Biotechnology and Beauty. 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.

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $7M–$25M |
| Venture - Series Unknown | $20M–$29M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 3 | 21% |
| Beauty | 2 | 14% |
| Retail | 2 | 14% |
| Medical | 2 | 14% |
| Cosmetics | 2 | 14% |

34 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 4 | 29% |
| Series A | 3 | 21% |
| Venture - Series Unknown | 3 | 21% |
| Series D | 1 | 7% |
| Funding Round | 1 | 7% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Norway | 8 | 57% |
| Denmark | 1 | 7% |
| Singapore | 1 | 7% |
| Switzerland | 1 | 7% |
| United States | 1 | 7% |

6 countries tracked in total.

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Cytovation | Cytovation AS is a privately-held biotech company, specialising in dermatological diseases, based in Bergen, Norway. | $7.7M | Series A | Jun 02, 2023 |  |
| Healthily | Healthily is the world’s first medically approved self-care app designed around you. Combining responsive AI with trusted insights and tools, we match your personal needs to the latest information from doctors and healthcare specialists. So you can understand your health and take the next step with confidence, wherever you are. Used by millions ofpeople all over the world, Healthily’s pioneering approach to online clinical safety has attracted the support of leading investors and health organisations. | $20M | Venture - Series Unknown | Sep 07, 2022 |  |
| Cytovation | Cytovation AS is a privately-held biotech company, specialising in dermatological diseases, based in Bergen, Norway. | $20.2M | Series A | Jan 25, 2022 |  |
| 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. | $29.2M | Venture - Series Unknown | Jun 29, 2021 |  |
| Soil Steam | Soil Steam, founded by 3 farmers in the 1990-ies (Finn Limseth, Hans Kristian Westrum and Arvid Laksesvela) and led by CEO Oddbjørn Bergem, developed a technology that uses vacuum to force steam into the ground. The purpose is to make the crops bigger and to prevent vegetables from rotting without the use of harmful pesticides. The technology ispatented for use in mobile machines, and Soil Steam claims to be the only company in the world that does this. | $2.4M |  | Jan 20, 2021 |  |
| Galecto | Galecto develops small molecules for the treatment of severe diseases, including fibrosis and cancer. The company lead product candidate, GB0139, is an inhaled inhibitor of galectin-3. GB0139 is being developed for the treatment of severe fibrotic lung diseases such as idiopathic pulmonary fibrosis, or IPF, in which there is high unmet medicalneed. Galecto was founded in 2011, builds on more than 10 years of research centering on the role of galectin-3 and LOXL-2, and the use of modulators of these proteins to treat fibrosis-related diseases and cancer. Combined with a strong patent estate, these assets give Galecto a unique therapeutic platform. | $64M | Series D | Sep 25, 2020 |  |
| Antler | Antler is an early-stage venture capital firm that seeks to invest in technology companies. The firm incubates startups from a variety of sectors and offers a global community network of co-founders and access to talent, expert advisors, expansion support, and capital around the world. | $25M | Venture - Series Unknown | Feb 06, 2020 |  |
| 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. | $11.2M | Corporate Round | Dec 08, 2019 |  |
| Farmasiet | Farmasiet is Norway's largest online pharmacy delivering to the entire country. We also have a physical pharmacy in Sandefjord. |  | Private Equity | May 29, 2019 |  |
| Bildeler | Bildeler.no operates an online retailer of auto parts. The company’s store, sales and procurement are located at Lierskogen, between Drammen and Oslo. After the transaction, Verdane and Canica will together own 90 percent of Bildeler.no |  | Private Equity | May 29, 2019 |  |

10 of 14 investments shown.

## Co-investors
- [Verdane](https://shizune.co/investors/profile/verdane) — VC Fund, 5 deals together
- [Hadean Ventures](https://shizune.co/investors/profile/hadean-ventures) — VC Fund, 2 deals together
- [OrbiMed](https://shizune.co/investors/profile/orbimed-advisors) — VC Fund, 2 deals together
- [Sandwater](https://shizune.co/investors/profile/sandwater) — VC Fund, 2 deals together
- [Sundt AS](https://shizune.co/investors/profile/sundt-as) — VC Fund, 2 deals together
- [Arctic Fund Management](https://shizune.co/investors/profile/arctic-fund-management) — VC Fund, 1 deal together

## Similar investors

### Similar industry
- [SOSV](https://shizune.co/investors/profile/sosv) — VC Fund
- [ARCH Venture Partners](https://shizune.co/investors/profile/arch-venture-partners) — VC Fund
- [OrbiMed](https://shizune.co/investors/profile/orbimed-advisors) — VC Fund

### Similar stage
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### Similar country
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Investinor](https://shizune.co/investors/profile/investinor) — VC Fund
- [Skyfall Ventures](https://shizune.co/investors/profile/skyfall-ventures) — VC Fund

## Featured in investor lists
- [Medical Investors in Norway](https://shizune.co/investors/medical-investors-norway)
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- [Biotech Investors in Norway](https://shizune.co/investors/biotech-investors-norway)

## FAQ

### What does Canica invest in?

Canica invests primarily in Biotechnology, Beauty and Retail startups, most often at Private Equity and Series A stage. Most of the 14 investments tracked by Shizune back companies in Norway. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Canica's check size?

Canica typically joins rounds of $7M–$25M at Series A and $20M–$29M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Canica participates in.

### When did Canica last invest?

The most recent investment recorded for Canica closed in Jun 2023. Shizune tracks 14 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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