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

Firi is the largest cryptocurrency exchange in the Nordics, built on the premise that crypto investing should be safe, simple and local. Customers open an account with Vipps, verify with BankID or MitID, and buy, sell, save or stake through the app in their own currency and language.

Firi was the first exchange registered with and governed by the Financial Supervisory Authority of Norway when crypto was regulated in 2019, and has treated regulatory standing as a product feature ever since rather than an obstacle to work around.

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Initial Investment:

2020

Status:

Firi

The leading crypto currency exchange in the Nordics
Co-investors:
Schibsted Ventures, The Factory

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

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

Cybret AI is building the next generation of cybersecurity infrastructure for a world where attacks are increasingly carried out by AI-powered, autonomous systems.

Traditional security tools rely on static rules, alerts, and human intervention — an approach that struggles to keep up as threats evolve faster and learn autonomously. Cybret AI is taking a fundamentally different approach, developing autonomous security systems that can understand complex attacks, reason across environments, and respond in real time, with humans providing oversight rather than acting as bottlenecks.

Cybret AI is operating as a focused research and development lab, building foundational infrastructure for the next era of cyber defense — where AI is required to defend against AI.

Initial Investment:

2025

Status:

Cybret AI

Autonomous cybersecurity for an AI-driven threat landscape
Co-investors:
Visionaries Club, Inception Fund, Wave Ventures, FR8

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
Company
Co-investors
Initial Investment
Status
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
Naer
A VR application for workshops
Co-investors
Startuplab
Initial Investment
2022
2022
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
Capeesh
A B2B language learning solution
Co-investors
Brighteye Venture, Tidligfasefondet
Initial Investment
2019
2019
Filmgrail
A B2B2C software company
Co-investors
Initial Investment
2018
2018
Age Labs
A bioinformatics company
Co-investors
Aleap, Bakken & Bæck
Initial Investment
2019
2019

Success Stories

Finansavisen
–
04.10.2024

Firi

The Nordic Region's Largest Crypto Exchange with 300K+ Customers

Techcruch
–
22.09.25

Tise

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

TechCrunch
–
25.07.2019

Nabobil

SoftBank-backed Getaround acquires Norwegian car rental startup

Shifter
–
08.04.21

Oda

Early Investors in Oda Achieve 17x Return on Their Investment

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