Proventure Management

ProVenture Management AS is a venture capital firm specializing in seed stage and early stage investments. The firm prefers to invest in energy, oil and gas technology, marine and material technology, process and medical technology, as well as information and communication technology. It typically invests in companies based in Norway. It seeks co-investors for its portfolio companies at an early stage and prefers being a lead investor in the first phase. ProVenture Management AS was founded in 2006 and is located in Trondheim, Norway with an additional office in Stavanger, Norway.

Tom Arnoy

Senior Partner

Ane Christophersen

Investment Manager

SS

Sylvi Saure Finsrud

Investment Manager

FH

Frederik Hvistendahl

Senior Partner

Ingvar Katmo

Partner

Geir Ove Kjesbu

Senior Partner

Borgar Ljosland

Senior Partner

David Lysne

Managing Partner

Herbjørn Skjervold

Senior Partner

35 past transactions

Wanda.space

Seed Round in 2020
Wanda.space is a technology and logistics start-up delivering space as a service.

Wanda.space

Seed Round in 2022
Wanda.space is a technology and logistics start-up delivering space as a service.

Fjell Subsea Products

Venture Round in 2014
Fjell Subsea Products are experts in the design, manufacture and testing of cost efficient and standardized quality products.

Arctic Silicon Devices

Series B in 2008
Low power ADCs and AFEs in 20-125MHz range. Applications: Ultrasound, Wireless communication, Instrumentation The company is based in Tiller, Norway.

Emtek

Seed Round in 2008
Emtek

Secustream Technologies

Seed Round in 2007
Secustream Technologies AS provides digital rights enforcement solution that prevents reverse engineering and piracy. It offers SecuShow, a software solution for home PCs, setup boxes, and mobile phones. The company’s security platform serves Hollywood and content providers protecting digital rights with an electronic enforcement system. It serves digital media content creators and providers, such as Hollywood home video distributors, IPTV service providers, and online gaming providers. Secustream Technologies AS was founded in 2006 and is based in Trondheim, Norway. As of May 13, 2008, Secustream Technologies AS operates as a subsidiary of Conax AS.

Verdande Technology

Venture Round in 2010
Verdande Technology formerly Volve AS develops products and services for the re-use of knowledge. There core technology is based on the principle of case based reasoning; a process of solving new problems, based on the solutions of similar past problems, and has applications across industries

My Voice

Venture Round in 2020
My Voice Ai Limited develops a SDK incorporating a voice biometrics platform called ACV (Acoustic Correlates of Voice Quality) with the source filter model of speech communication. The company’s services include biometric vehicle access, smart homes, digital keys based on user’s biometric attributes, ride-sharing authentication, and in-vehicle payments. The company was founded in 2016 and is based in London, United Kingdom.

Active DSP

Seed Round in 2008
Active DSP AS is a company delivering timesaving DSP software tools for use in the program development for microcontrollers and digital singal processors, and in testing and monitoring stages of programs. Our software is based on RS-232 communication and supports C2000 and MSP430 processors from Texas Instruments. The company is based in Trondheim Norway, and the technology behind is developed by the two founders Jarl Karlsen and William Gullvik which both has close relationships with the Norwegian University of Science and Technology, NTNU.

Encap

Seed Round in 2013
Encap AS offers desktop authentication solutions. The company provides two-factor authentication and legally binding digital signatures for secure applications. It caters to banking institutions, technology integrators, and financial institutions. Encap AS was founded in 2008 and is based in Fornebu, Norway.

Seabed Separation

Venture Round in 2015
Seabed Separation offers services of topside and subsea separation of water with reduced capital and operational expenses.

ZXY Sport Tracking

Venture Round in 2010
ZXY Sport Tracking is a wearable sports performance technology that includes videos, features, and product information. It delivers a sport analysis system combining application-specific 3D graphic software engines and a hardware sensor platform for soccer environments. Its system enables automated tracking and storage of the situations at the sport ground with no need for human and manual support. ZXY Sport Tracking is a Norway-based company that was founded in 2002 and the company was acquired by ChyronHego on April 6, 2014.

GasSecure

Seed Round in 2009
GasSecure develops a wireless infrared hydrocarbon gas detector for industrial applications. It also develops technology solutions that provide wireless explosion protection in the oil, gas, and other industries. The company specializes in MEMS-based low-power gas detection and safe wireless communication. GasSecure was acquired by Drager USA in March 2015. GasSecure was founded by Knut Sandven and Hakon Sagberg in 2008.

VISAVI Technology

Venture Round in 2019
VISAVI Technology AS is a spin-off company from the Institute for Energy Technology (IFE) and NTNU Research Centre of Integrated Operations. The company was founded in 2014 by Øystein Veland and Gisle Andresen. They are experts on advanced visualization and collaboration design for complex organizations from world-leading research communities. VISAVI provides LivePlan, a software solution related to optimization of operation and maintenance primary for the energy and process industry. The LivePlan solution has been funded and developed in collaboration with industry leaders.

Wireless Safety

Seed Round in 2008
Wireless Safety AS engages in developing wireless safety keys for leisure boats. It offers CoastKey, a wireless remote control that acts as an in-dock immobilizer, engine start/stop remote controller, and remote engine tilter to lift or lower the power unit from/into the water. The company’s unit also performs various safety functions by acting as an engine kill switch, worn round the pilot's neck, which switches off the engine in two seconds of the pilot falling into the water and activates a flashing light on the CoastKey to aid recovery in darkness. Its CoastKey’s killkord engine function stops on pilot’s fall overboard, and starts directly from the on-board control unit at the time of rescue; and engine immobilizer function deactivates when the ignition is switched on, and activates when the ignition is switched off. The company’s CoastKey’s start and tilt engines function prevents re-start of already running engines; key units function is connected to the boat ignition system close to the pilot area, and starts from the lock unit by entering a pin-code; and installation function installs various engines. Wireless Safety AS was founded in 2004 and is based in Tofte, Norway.

SnapTV AS

Venture Round in 2008
SnapTV AS develops, builds, operates, and maintains advanced digital infotainment systems. The company offers an IPTV solution that helps small and medium sized network operators to offer TV services, including live TV, live radio, HDTV, messaging, electronic program guide, program recording, movie rental, and more. Its solution also supports PayTV models, such as a la carte subscriptions, tiered channel packages, pay per recorder quota, and pay-per-view. The company also offers operation and maintenance services, including system monitoring, software and hardware maintenance programs, and technical assistance. SnapTV AS offers its solutions through global alliances partners and regional value-added resellers worldwide. It serves Fortune 500 companies in maritime, offshore, hospitality, healthcare, and education markets. The company was founded in 2005 and is based in Oslo, Norway with sales, operation, and maintenance partners worldwide. As of December 20, 2016, SnapTV AS operates as a subsidiary of NSSLGlobal Ltd.

Verdande Technology

Venture Round in 2006
Verdande Technology formerly Volve AS develops products and services for the re-use of knowledge. There core technology is based on the principle of case based reasoning; a process of solving new problems, based on the solutions of similar past problems, and has applications across industries

OptoSense AS

Seed Round in 2007
OptoSense AS develops and sells micro-optical sensors for gas detection and measurement applications. The company offers CO2 sensors, VAV regulators, and demand controlled ventilation products. It sells its products to OEMs worldwide. The company was founded in 1998 and is based in Oslo, Norway.

CUPP Computing

Seed Round in 2013
Cupp Computing AS is a computer hardware and security company, established in Bergen, Norway in 2005. Cupp Computing announced The Punk This Module during Computex 2011, allowing a user to switch between a x86 processor and a ARM processor, using the same peripheries Cupp Computing acquired Yoggie Secerety systems in 2011 , it was a mobile security vendor, specializing in data protection.

Verdande Technology

Seed Round in 2007
Verdande Technology formerly Volve AS develops products and services for the re-use of knowledge. There core technology is based on the principle of case based reasoning; a process of solving new problems, based on the solutions of similar past problems, and has applications across industries

Arctic Silicon Devices

Seed Round in 2007
Low power ADCs and AFEs in 20-125MHz range. Applications: Ultrasound, Wireless communication, Instrumentation The company is based in Tiller, Norway.

Ace Oil Tools AS

Venture Round in 2015
Ace Oil Tools AS provides stop collars for the protection of control lines. It offers stop collar for elevators; and ratchet collars. The company was founded in 2012 and is based in Randaberg, Norway.

Numascale AS

Series A in 2009
Numascale AS develops computer system interconnect technology that allows computer system vendors to build big data analytics appliances for enterprise servers. It offers NumaQ, a terascale in-memory analytics appliance for running data analytics workload in-memory; NumaQ R Appliance, a statistical programming language and environment that provides R with the memory it needs for massive data set computations; MonetDB, a column-store database integrated with R for a database centric analytics platform; and in-memory analytics appliance for running data analytics workload in-memory. The company was founded in 2008 and is based in Oslo, Norway. Numascale AS operates as a subsidiary of Dolphin Group ASA.

Cimon Medical

Series A in 2020
Cimon Medical AS develops and manufactures ultrasound blood-flow monitoring devices. The company offers NeoDoppler device, which provides direct, non-invasive, and continuous monitoring of blood-flow in the brain of premature or critically ill babies. The company was incorporated in 2019 and is based in Trondheim, Norway.

New Index

Seed Round in 2007
New Index offers electronic whiteboards for the audio and video industries, where the sensor is located by the data projector. In the sensor unit, a small camera chip captures the pen's movements, allowing pointing operations and any writing or drawing to appear on the screen. It utilizes pattern recognition and identification of special optical patterns made by the pen. New Index was founded in 2003 and the company was acquired by Epson on September 1, 2011.

Conoptica AS

Venture Round in 2011
Conoptica AS develops and manufactures production and quality control systems for the wire, cable, and tube industry. It markets systems for processes involving drawing die, shaped die, enameling die, wire/rod/bar, plug/pin/needle, and cable insulation. In addition, the company provides wire manufacturing hardware and software solutions that it markets under brand names such as EO-Frame CU4, CU5, CU10, CU20, Automatic Die Feeder, and Supervisor. Conoptica was founded in 1985 and is based in Klæbu, Norway.

Scale Protection AS

Venture Round in 2017
Scale Protection AS provides scale management solutions. The company develops well instrumentation and analysis tools for scale management and prevention of scale deposition in oil producing wells. Its products and services include scale monitoring, such as bulk scale analysis and downhole scale monitoring; and squeeze placement, modeling, and advisory and testing services. The company was founded in 2010 and is based in Harstad, Norway.

Aptomar

Seed Round in 2007
Aptomar is a leading provider of Integrated Field Monitoring sensors, systems and services for the oil and gas industry. The company focuses on protecting the safety and integrity of people, the environment and assets by managing; 24/7 oil spill detection and combating, surveillance and security as well as search and rescue in close cooperation with Industry. Aptomar is located in Trondheim, Norway, with further offices in Houston, USA, and Rio de Janeiro, Brazil. Using proprietary technology and commercially available sensors, Aptomar merges remotely monitored sensor data into a single display, and distributes it to create a real time common operating picture. Experienced operators interpret the combined sensor data and intervene when necessary to alert and support the offshore operator in case of incident. In 2014– as a response to numerous oil companies who want the industry to take a broader, more systematic approach to field monitoring – Aptomar established a new maritime control center in Trondheim, Norway. The center is called Aptomarin. Aptomarin combines 24/7 competence and monitoring capacity, with robust detection and an efficient and controlled emergency response management. Aptomarin consists of master mariners and professionals with extensive maritime and nautical competence.

Cinevision

Seed Round in 2007
Cinevision

Dynamic Rock Support

Seed Round in 2009
Dynamic Rock Support provides industrial safety and cost savings products for underground mines. It offers concrete structures, concrete transport, and lifting and underground logistics. Dynamic Rock Support was founded in 2008 and is headquartered in Trondheim, Sor-Trondelag.

Sorbwater Technology AS

Venture Round in 2010
Sorbwater Technology AS provides solutions to clean Produced Water and Slop Water for the Oil & Gas industry. Their technologies will also be applicable to other markets as mining, petrochem refining, shipping, pulp & paper etc. However, Sorbwater has chosen to focus on the Upstream Oil & Gas market. They work to save groundwater resources and minimize harmful discharge, at the same time as saving treatment costs for their clients. Sorbwater’s technology is a combination of patented, green chemistry and hardware – in the form of high performance separation equipment. Their solutions represent Best Available Technology. The company supplies and maintains compact treatment plants for onshore and offshore use. The technology has been tested and approved by several international oil companies. The company is backed by Sarsia Seed AS, Proventure Management AS, Sparebanken Vest and the Aquarion Group. Sarsia Seed AS and Proventure Management AS are both leading Norwegian, early stage, venture capital funds.

Xsens AS

Venture Round in 2017
Xsens AS develops non-invasive measurement systems for the oil and gas industry. Its measurement systems are used for the non-invasive installation on standard process pipes, as well as for process optimization, flow assurance, and integrity measurement. The company was founded in 2013 and is headquartered in Bergen, Norway.

Verdande Technology

Venture Round in 2012
Verdande Technology formerly Volve AS develops products and services for the re-use of knowledge. There core technology is based on the principle of case based reasoning; a process of solving new problems, based on the solutions of similar past problems, and has applications across industries