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Top 15 Retail VC Funds & Investors in Norway (September 2026)

The most active venture capital funds investing in Norway Retail startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Norway Retail startup companies. Find investors to raise a Pre-Seed, Seed or Angel round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Idekapital
VC Fund
3 Norway, United Kingdom Series A, Venture - Series Unknown, Seed Software, SaaS, Information Technology $210k–$90M
Dolphin Consultants
VC Fund
2 Norway Angel Retail, Grocery, E-Commerce $35k–$36k
Vant AS
VC Fund
2 Norway Angel Retail, Grocery, E-Commerce $12k–$35k
Pallados Consulting OU
VC Fund
2 Norway Angel Retail, Grocery, E-Commerce $28k–$35k
Jens Tilma Holding ApS
VC Fund
1 Norway Angel Retail, Grocery, E-Commerce
Swahn Consulting AS
VC Fund
1 Norway Angel Retail, Grocery, E-Commerce
JC Sandalwood INVEST
VC Fund
1 Norway Angel Retail, Grocery, E-Commerce
Antler
VC Fund
1 Singapore, Australia, United Kingdom Pre-Seed, Seed, Series A Software, Artificial Intelligence, Information Technology $100k–$29M
Northern Braes Holding AS
VC Fund
1 Norway Angel Retail, Grocery, E-Commerce
Ferd
VC Fund
1 Norway, Sweden, United States Private Equity, Post-IPO Equity Software, Energy, Information Technology $1M–$40M
Innovation Norway
VC Fund
1 Norway, Romania, Sweden Grant, Seed, Debt Financing Software, Information Technology, Artificial Intelligence $47k–$134M
Folkeinvest
VC Fund
1 Norway, Sweden Equity Crowdfunding, Seed, Pre-Seed Manufacturing, Food and Beverage, Information Technology $101k–$2.7M
Unbounded Capital
VC Fund
1 United States, China, Japan Series A, Seed, Pre-Seed Software, FinTech, Financial Services $10k–$14M
Persimmon Hill
VC Fund
1 Norway, United States Seed iOS, Gaming, Retail
Be2be AS
VC Fund
1 Norway Angel Retail, Grocery, E-Commerce
Access all 25 VC funds in Norway Retail startups.

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Investor list

Idekapital
VC Fund · Oslo, Oslo, Norway · 3 investments in Norway Retail startups

We manage two investment funds with more than 1 bn NOK under management. We invest in high-growth software and technology companies.

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Investment focus

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

Investor stats

  • Total investments: 35
  • Round size: Seed $210k–$4.4M; Series A $3.4M–$16M; Venture - Series Unknown $4M–$90M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — last raise in 2020

Portfolio highlights

  • Völur — Ensuring optimal use of every single animal through cutting and processing.
  • Two — Buy Now, Pay Later for your business customers. Two makes it easy and safe to offer invoice as a payment method on your e-commerce site.
  • Muybridge — Reimagining cameras with weightless software-based viewpoint
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Dolphin Consultants
VC Fund · Mumbai, Maharashtra, India · 2 investments in Norway Retail startups

Dolphin Consultants offers services such as marine, offshore, defence, and ship repair.

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

  • Total investments: 2
  • Round size: Angel $35k–$36k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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Vant AS
VC Fund · Narva, Ida-Virumaa, Estonia · 2 investments in Norway Retail startups

Vant AS is a holding investment firm.

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

  • Total investments: 2
  • Round size: Angel $12k–$35k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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Pallados Consulting OU
VC Fund · Tallinn, Harjumaa, Estonia · 2 investments in Norway Retail startups

Holding

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

  • Total investments: 2
  • Round size: Angel $28k–$35k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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Jens Tilma Holding ApS
VC Fund · 1 investments in Norway Retail startups

Holding

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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Swahn Consulting AS
VC Fund · 1 investments in Norway Retail startups

Consulting

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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JC Sandalwood INVEST
VC Fund · Hamburg, Hamburg, Germany · 1 investments in Norway Retail startups

JC Sandalwood INVEST is an investment firm that specializes on impact investments. JC Sandalwood INVEST provides online presentations at random intervals for sales partners, customers, and interested parties.

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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Antler
VC Fund · Singapore, Central Region, Singapore · 1 investments in Norway Retail startups

Build your next company with Antler, a global day zero investor enabling exceptional founders to start great companies, from the very beginning. Apply now!

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Investment focus

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

Investor stats

  • Total investments: 2372
  • Round size: Seed $158k–$4.5M; Pre-Seed $100k–$587k; Series A $4.1M–$29M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: Likely actively investing — fresh fund, raised $7.5M in 2026

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.
  • Forti Foods — The mission of Forti Foods is to enhance communities and change lives beyond the plate by fostering resilience and dignity via sustainable food innovation.
  • RubiLabs — RubiLabs Inc provides a platform for unifying, monitoring, and analyzing organizational data. RubiLabs software enables analysts and operators across risk, compliance, and security teams to collaborate and interpret large volumes of information in real time. The company’s platform is designed to help institutions make sense of complex, fragmenteddata by transforming it into a coherent operational picture for risk detection, continuous monitoring, and investigative workflows.
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Northern Braes Holding AS
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Retail startups

Holding

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
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Ferd
VC Fund · Lysaker, Akershus, Norway · 1 investments in Norway Retail startups

Ferd er et familieeid investeringsselskap som er eid av femte og sjette generasjon Andresen.

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Investment focus

  • Industry: Software, Energy, Information Technology
  • Stage:Private Equity, Post-IPO Equity
  • Geography: Norway, Sweden, United States

Investor stats

  • Total investments: 60
  • Round size: Private Equity $13M–$14M; Post-IPO Equity $1M–$40M
  • Lead/follow: 30% lead, 70% follow
  • Last fund: May invest from a new fund soon — last raise in 2005

Portfolio highlights

  • wheel.me — The first and only autonomous wheel in the world. The innovation transforms anything into an autonomous mobile robot with minimal effort and without the need to alter its design or form. The company was founded in 2013 and is headquartered in Oslo, Norway.
  • Nofence — Manage your livestock from anywhere with GPS collars and a simple app. Unlock more acres, cut fencing costs, and run your operation on your terms.
  • Kvist Solutions — Kvist Solutions tilbyr programvare som forenkler BREEAM sertifisering. Vi gir deg oversikt over hele prosjektet, slik at veien til sertifisering blir oversiktlig og forutsigbar.
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Access 48,091 investors

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

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Innovation Norway
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Retail startups

Innovasjon Norge - vi gir lokale ideer globale muligheter

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Grant, Seed, Debt Financing
  • Geography: Norway, Romania, Sweden

Investor stats

  • Total investments: 84
  • Round size: Seed $118k–$3.6M; Grant $47k–$2M; Debt Financing $239k–$134M
  • Lead/follow: 48% lead, 52% follow

Portfolio highlights

  • Ofiniti — Ofiniti is a platform designed for businesses to streamline operations through digital maritime fuel distribution. Ofiniti's platform offers solutions that bridge the digital gap between fuel suppliers and consumers, improving the efficiency of marine fuel bunkering operations. Ofiniti works to enhance operational performance within themaritime sector by integrating technology into traditional industries.
  • Birdsview — We offer non-destructive AI-powered concrete assessment. Get precise structural insights with our 3D point cloud, optimize maintenance, and save costs.
  • Lace Lithography — Lace is building the patterning technology that will power the next 100 years of semiconductor manufacturing.
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Folkeinvest
VC Fund · Trondheim, Sor-Trondelag, Norway · 1 investments in Norway Retail startups

Folkeinvest AS er et digitalt verdipapirforetak som tilrettelegger for investering i oppstartsselskap.

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Investment focus

  • Industry: Manufacturing, Food and Beverage, Information Technology
  • Stage:Equity Crowdfunding, Seed, Pre-Seed
  • Geography: Norway, Sweden

Investor stats

  • Total investments: 15
  • Round size: Seed $410k–$720k; Equity Crowdfunding $101k–$2.7M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Auk — Auk creates a fully-automatic system that makes it easier to grow vegetables, salads and herbs at your own kitchen
  • AutoAgri — AutoAgri is devoted to the development and manufacturing of autonomous implement carriers. These vehicles are designed with agricultural use in mind, but only imagination limits possible applications.
  • Stack by.me — Stack by.me provides short video courses, and customers become part of a large community where they can follow friends, family, and an extended network. They also provide mutual funds and ETFs.
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Unbounded Capital
VC Fund · Austin, Texas, United States · 1 investments in Norway Retail 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, Seed, Pre-Seed
  • Geography: United States, China, Japan

Investor stats

  • Total investments: 19
  • Round size: Seed $10k–$1.1M; Pre-Seed $336k–$1.1M; Series A $10k–$14M
  • Lead/follow: 11% lead, 89% follow
  • Last fund: Likely still investing — raised $2.7M in 2023

Portfolio highlights

  • RF Labs — Track analytics, automate live streams, improve business operations. RF Poker is reinventing the way live poker is played and experienced.
  • 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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Persimmon Hill
VC Fund · 1 investments in Norway Retail 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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Be2be AS
VC Fund · Oslo, Oslo, Norway · 1 investments in Norway Retail startups

Human resources

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Investment focus

  • Industry: Retail, Grocery, E-Commerce
  • Stage:Angel
  • Geography: Norway

Investor stats

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

Portfolio highlights

  • ACT Cooperative Corporation AS — ACT is a mobile marketplace of marketplaces and a user-driver data-gathering tool. Consumers use user-collected data to make free and informed decisions when buying sustainable products — e.g. it helps them choose tomato A over tomato B because it was produced in a way that emitted less CO2.We believe that the biggest challenge we face today isfinding ways to collaborate at a massive scale. ACT provides a hands-on collaborative platform for gathering data and shifting large amounts of money to sustainable products without having to wait for old-fashioned systems to fall in place, e.g. wait for retailers or producers to integrate.
Show all investments...

Retail VC funding in Norway at a glance

Stats across 27 deals from 25 investors.

25
investors
in Norway Retail startups
27
deals
in Norway Retail startups
$465k
median round
in Norway Retail startups
36%
lead investors
lead at least one round
33%
Private Equity
most common funding stage

Access all 25 VC funds in Norway Retail startups.

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