Our investments

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Hive is a Physical AI company building the intelligence layer for industrial machines — a "silicon brain" that lets excavators, wheel loaders, forklifts and haulers perceive, decide and act as one coordinated system. Rather than requiring new equipment, Hive retrofits the fleet a customer already owns, installed in days, so operators move out of the cab and into a control room while the machine handles the work.

Every deployed machine hour feeds a single reinforcement loop, so capability compounds across every machine and every site. Hive is founded by Christoffer Jørgensvaag, who previously co-founded Red Rock Solutions, building autonomous remote lifting for marine and offshore environments, acquired by Ocean Infinity in 2021.

Initial Investment:

2026

Status:

Hive

An AI brain making heavy industrial machinery autonomous
Co-investors:
Veriten, SuperSeed, Nysnø

Parahelp builds AI support agents that resolve customer issues end-to-end — not just answer questions, but take action.

The product is two agents working together. The Customer Agent handles complex issues across email, live chat and Slack, securely using the company's own tools to actually resolve them. The Internal Agent builds, tests and continuously improves the Customer Agent from plain-language instructions, so support teams configure their agent by chatting rather than by filling in decision trees. If a tool has an API, it can be connected. Teams go from connecting their context sources to a live agent within hours.

Parahelp is used by some of the fastest-moving companies in software, including Bolt, Cursor, Replit and Framer, and is SOC 2 Type II audited and GDPR compliant, with no model training on customer data.

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Initial Investment:

2022

Status:

Parahelp

An AI support agent that resolves issues, not just answers
Co-investors:
Alt Capital, Y Combinator, Hidden Capital, Perplexity Fund, Paul Graham, byFounders VC, Hanabi and more

Stendr is a Norwegian defence technology company building an AI-native platform for the rapid development and deployment of defence software and hardware.

The nature of warfare has changed. Drones are cheap, autonomous, and everywhere, and defence systems built for a previous era cannot keep pace. Stendr is developing AI-driven multi-sensor technology embedded in cost-efficient hardware platforms — full-stack, vertically integrated, with AI at the core — to find drones, track them, and give defenders the information to act, fully sovereign to Europe. The initial focus is drone defence.

Stendr is founded by Aleksander Leonard Larsen, co-founder of Sky Mavis, which he built to a $3 billion valuation with its Axie Infinity platform. He is joined by Robin Alexander Holm Pedersen (CTO) and Markus Leonhard Hansen (Head of Hardware).

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Initial Investment:

2026

Status:

Stendr

A vertically integrated, AI-native platform for drone defence
Co-investors:
Rainfall Ventures, ACME Capital, Sisyphus, Antler, StartupLab, Off Piste, Andøya Ventures

Riff builds AI agents that take on the operational work behind every order — quoting, procurement, planning, logistics — and replan the moment something changes. Rather than drafting suggestions, the agents act on a customer's real data through deterministic, controlled tools inside guardrails the customer's own team defines, so the same input produces the same auditable result every time.

The team comes out of Cognite, Norway's first unicorn, where they ran large-scale industrial digitalisation programmes and have been building autonomous agents since 2023.

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Initial Investment:

2022

Status:

Riff

AI agents that handle the work behind every order
Co-investors:
Northzone, Global Founders Capital, Maki.vc, Sondo, Ilkka Paananen

Sanna is an accounting firm with the technology built in: complete accounting powered by AI, at a fixed price, quality assured by authorised accountants.

Every company in the world is required by law to keep books, file annual accounts and report taxes. Demand is set by statute rather than by budgets, which makes this one of the largest service industries there is, and it is still priced and delivered by the hour. The work itself is what software could not do before: unstructured documents that have to be read, judged, mapped to the right code and reconciled. Rules-based tools never got there. AI can.

Sanna does not sell software to accountants. Sanna is the accounting firm, which means it captures the full gain from what AI takes off the table. That shows up directly in the price, a fixed fee instead of an hourly rate.

Initial Investment:

2026

Status:

Sanna

AI-native accounting, quality assured by authorised accountants
Co-investors:
Alliance Venture, Wave Ventures, Sondo

Enode is building the orchestration layer for the next grid — one platform for energy retailers and the teams that trade on their behalf. It connects assets, giving retailers a single integration to the electric vehicles, chargers, batteries, solar inverters and heat pumps their customers already own, and coordinates them to one plan: raising self-consumption, hitting time-of-use rates and shifting load to the cheapest hours.

Homes can then be aggregated into dispatchable flexibility, turning thousands of households into a single tradeable resource. The platform is deliberately composable rather than a finished product, so retailers build only the parts that differentiate them and rely on Enode for the connectivity and control underneath.

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Initial Investment:

2021

Status:

Enode

A platform for energy retailers to orchestrate home energy assets
Co-investors:
Creandum, Y Combinator, Lower Carbon Capital, The Box Group

Starflow is building a platform that brings solar panels, home batteries, EV chargers and the grid together as one system. At the core is a smart hybrid inverter designed to be the central control unit of the modern home, monitoring, managing and optimising energy use automatically.

Advanced hardware paired with an open software architecture lets the system adapt to each home in real time — lowering energy bills, making storage worthwhile, and pulling everything into one intuitive interface. Easy to install, built to last, and ready for the energy needs of tomorrow.

Starflow is founded by Jonas Helmikstøl, co-founder of Easee, together with Ola Stengel and Nikolai Konopelko.

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Initial Investment:

2024

Status:

Starflow

The control unit for solar, storage and EV charging at home
Co-investors:
Contrarian Ventures, Sondo Capital

Space Lab is aiming to become Norway's first orbital launch service provider, developing reusable rockets that give Norway and Europe sovereign access to space. Its rocket, Draken, is designed to launch from the ocean rather than a fixed launch pad — removing the ground infrastructure that constrains where and how often anyone can reach orbit, and drawing on offshore and high-risk operational expertise that already exists in Norway from oil and gas.

Space Lab is founded by Daniel Cau Varming and Jørgen Narmo Hammervold, who have together designed, built and launched four rockets from the Norwegian coast. Their ambition is to turn Norwegian engineering and offshore operational culture into hardware that flies and competes globally.

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Initial Investment:

2024

Status:

Space Lab

Reusable rockets launched from Norwegian waters
Co-investors:
StartupLab

Nansen is "The Backbone for Blockchain Data" that empower crypto investors and teams with onchain insights to make informed decisions. Nansen's market leading analytics tool combines on-chain data with a massive and constantly growing, proprietary database containing millions of wallet labels.

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Initial Investment:

2020

Status:

Nansen

A blockchain analytics tool empowering investors with on-chain insights
Co-investors:
Andreessen Horowitz (a16z), Accel, Tiger Global, Coinbase Ventures, GIC, imToken Ventures, Mechanism Capital, SCB 10X
Company
Co-investors
Initial Investment
Status
Otovo
A marketplace for installation of solar panels
Co-investors
StartupLab, Bakken & Bæck, Nysnø, Axel Johnson Group, and more
Initial Investment
2016
Exited 2021, IPOed
2016
Spring
An investment and fundraising platform for early stage web3 projects
Co-investors
Global Founders Capital, Kraken Ventures, Weekend Fund, Snö Ventures, Avlok Kohli
Initial Investment
2022
2022
Pistachio
A SaaS to prevent human cyber risk
Co-investors
Signals Venture Capital, J12 Ventures, Idékapital, and more
Initial Investment
2022
2022
Fairsight
A SaaS for unbiased talent recruiting
Co-investors
Sondo, Futurum Ventures
Initial Investment
2023
2023
Nomono
A portable podcast kit for studio-quality recordings anywhere
Co-investors
Spintop Ventures, SINTEF Venture, Schibsted Ventures, and more
Initial Investment
2020
2020
Oivi
An AI-camera to identify eye-diseases
Co-investors
Arali Ventures, StartupLab, and more
Initial Investment
2020
2020
Nabobil
A P2P car rental platform
Co-investors
Initial Investment
2017
Exited 2019 to GetAround
2017
Convier
A financial risk monitoring software
Co-investors
StartupLab
Initial Investment
2022
2022
Orca
Navigation software for the modern boater
Co-investors
Stephan Schambach, We Are Human Venture, and Atomico Angel Programme
Initial Investment
2020
2020
Preppio
A B2B software company
Co-investors
Initial Investment
2019
2019
360 Logistics
A fulfillment-as-a-service provider
Co-investors
Dovetail
Initial Investment
2022
2022
Alva
A tool for property insights, including market values and sales data
Co-investors
Bakken & Bæck
Initial Investment
2016
Exited 2019
2016
Smoc
A B2B software company
Co-investors
Initial Investment
2020
2020
Joymo
A hardware/software company
Co-investors
Investinor, Blommenholm, Startuplab
Initial Investment
2018
2018
Age Labs
A bioinformatics company
Co-investors
Aleap, Bakken & Bæck
Initial Investment
2019
2019

Success Stories

Shifter
–
08.04.21

Oda

Early Investors in Oda Achieve 17x Return on Their Investment

TechCrunch
–
25.07.2019

Nabobil

SoftBank-backed Getaround acquires Norwegian car rental startup

Techcruch
–
22.09.25

Tise

eBay Acquires Tise, Further Strengthening its Consumer-to-Consumer Expertise

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