Innovation Norway

Innovation Norway is a government organization established in 2004, serving as a key instrument for fostering innovation and development within Norwegian enterprises and industries. The agency focuses on helping companies enhance their competitive advantage through various support mechanisms. By promoting innovation, Innovation Norway aims to strengthen the overall economic landscape of Norway, ensuring that businesses are equipped to thrive in a competitive global market.

Johan Bøe Bjørkevoll

Investment Director

Håkon Haugli

Chief Executive Officer

Per Niederbach

Director of Regions and Financing

Ola Smeby

Investment Director

Anita Krohn Traaseth

Chief Executive Officer

Hans Martin Vikdal

Director of Finance, Scorecards and Funds

Christian Wolff-Shelter

Investment Director

Past deals in Scandinavia

Intoto

Grant in 2022
Intoto is a Norwegian company specializing in real-time data collection from rivers and streams. It has developed a platform utilizing IoT technologies to enhance water management practices. This platform supports future planning and disaster prevention by forecasting river floods and addressing challenges in the aquaculture sector, such as preventing fish deaths. Additionally, Intoto aims to optimize the hydropower industry and improve overall water quality. By providing actionable insights, the company enables clients to make informed decisions regarding climate change and sustainable water resource management.

laiout

Pre Seed Round in 2022
We are a team of entrepreneurs tasked with reducing the time and frustration involved when designing early stage floor plans for large developments and existing properties. With support from world's biggest early-stage VC and several of our international future clients our team is helping to optimize this tedious architectural design phase saving up to 20 weeks of time while providing more and better solutions.

Circio

Grant in 2022
Targovax ASA is a clinical-stage immuno-oncology company based in Oslo, Norway, focused on developing oncolytic viruses and neoantigen cancer vaccines to treat challenging solid tumors. Its lead product, ONCOS-102, is currently undergoing Phase I/II clinical trials for various cancers, including mesothelioma, melanoma, peritoneal disease, and prostate cancer. Additionally, Targovax is advancing TG01, a cancer vaccine in Phase I/II trials for resectable pancreatic cancer, which aims to activate the immune system to target specific RAS mutations in cancer cells. The company collaborates with notable organizations, including Cancer Research Institute, Ludwig Cancer Research, and AstraZeneca, to enhance the development of its therapies. Targovax's innovative approach aims to induce robust immune responses by leveraging both helper and cytotoxic T-cell mechanisms, demonstrating potential for improved patient survival and favorable tolerability profiles. Established in 2010 by inventors from the Radium Hospital Research Foundation, Targovax is dedicated to addressing unmet medical needs in oncology.

Skyfri

Grant in 2021
Skyfri, founded in 2017, specializes in asset performance management software tailored for renewable energy plant owners. The company's platform leverages machine learning and a comprehensive library of operational algorithms to deliver actionable analytics, allowing users to identify and address performance issues automatically. By automating operations, maintenance, and asset management, Skyfri aims to enhance revenue generation and minimize downtime in production. The company is supported by prominent investors and boasts a management team with extensive experience in developing and managing renewable energy and technology ventures, including overseeing over 3GW of assets across Europe, Asia, and North America.

Oamly

Grant in 2021
Oamly is an online platform that simplifies home furnishing by providing personalized interior design solutions tailored to individual tastes and budget constraints. Its innovative algorithm generates complete design proposals along with curated purchase recommendations, making it easier for users to find and acquire furnishings that suit their needs. The platform allows users to seamlessly explore, select, and purchase items from various brands, enhancing the shopping experience. Additionally, Oamly fosters a community-driven approach by enabling users to share design projects and collaborate with friends and family. The business operates on an affiliate marketing model, earning fees from suppliers for transactions while remaining free for users. This scalable model minimizes risk by eliminating the need for inventory or shipping logistics, positioning Oamly as a user-friendly tool for transforming houses into dream homes.

laiout

Grant in 2021
We are a team of entrepreneurs tasked with reducing the time and frustration involved when designing early stage floor plans for large developments and existing properties. With support from world's biggest early-stage VC and several of our international future clients our team is helping to optimize this tedious architectural design phase saving up to 20 weeks of time while providing more and better solutions.

Völur

Grant in 2021
Völur optimizes meat value chains with the use of Artificial Intelligence. Its pioneering services enable a whole new set of possibilities that understands how your business works, predicts cause-effect outcomes, and makes real-time recommendations driven by the market demand.

Spiff

Debt Financing in 2021
Spiff is a new Norwegian savings app for everyone! Save together or alone, completely free. Most of us think of housing or retirement when talking about savings. It is also as much about the smaller things in everyday life. Certain things in life are difficult to achieve alone. Fortunately, it is easy to save on common goals when using Spiff. Sometimes it holds a monthly move. At other times it is cool to refer to some chronicles that hang and slang.

FREYR

Grant in 2021
FREYR AS focuses on the production and sale of battery cells for electric vehicles and energy storage in Europe and internationally. It also intends to develop other markets within the segments of marine transportation, aviation, and offshore oil; and operates 600 MW wind park in the municipalities of Rana and Nesna, Norway. The company is based in Mo i Rana, Norway.

Foody

Seed Round in 2020
Foody is powering the service getfood.no - the portal for online food orders. The tool helps restaurants and diners build a professional profile with take-away and dine-in order systems, menues, table-reservations and catering.

Wayd

Debt Financing in 2020
Wayd AS is a company based in Oslo, Norway, that specializes in developing an online mobile application for sharing photographs. Launched in 2019, the application allows users to explore images based on geographic locations and offers personalized photo suggestions. Additionally, it enables users to create friendship circles to track and share suggested moments with their connections. The application is accessible on both Android and iOS platforms, catering to a broad audience interested in photography and social sharing.

Plaace

Grant in 2020
Proptech company creating vibrant streets and cities by helping property owners choose and connect with the right concepts, at the right place, using the right data.

Foody

Pre Seed Round in 2020
get|FOOD is the fastest way to fully digitalize your restaurant. Online webshop, QR-based ordering from the table, online booking and participation on our aggregator page - getfood.no

Oivi

Grant in 2020
Oivi develops an easy and affordable AI-camera and platform that will identifies diabetic eye-disease. It allows retinal screening at primary care, creating awareness, and maintaining diabetic eye-health for all. The company has a multifaceted team with extensive knowhow on camera and software development. Oivi was founded on 2017 and is headquartered in Oslo, Norway.

Travelin.ai

Pre Seed Round in 2020
Business and Leisure travel no longer just exist in silos but are intertwined. Travelin.ai is the Next Generation Corporate Travel Management Platform which reflects the true way we live, work and travel.

Exabel

Seed Round in 2020
Exabel AS, founded in 2016 and based in Oslo, Norway, develops artificial intelligence solutions aimed at enhancing investment decisions. The company specializes in creating Exabel Intelligent Monitoring, an automated tool for finance professionals that utilizes advanced mathematical models and machine learning. By synthesizing information from traditional financial data, economic indicators, news, and social media, Exabel enables clients to gain insights through cross-analysis of diverse data sources. The firm's technology is built on a decade of historical data, providing real-time reports and sophisticated financial modeling. With a team of experienced engineers and entrepreneurs from various disciplines, Exabel aims to make cutting-edge AI technology accessible to investors worldwide.

Kör

Debt Financing in 2020
Kör lets users track their progress from practice driving to booking driving lessons and obtaining the driving license.

ScanReach

Grant in 2020
ScanReach is a maritime IoT company based in Bergen, Norway. The company mission of developing affordable and user-friendly live lifesaving technologies for vessels and offshore installations, in particular for Personnel On-Board (POB) Control.

Intoto

Grant in 2020
Intoto is a Norwegian company specializing in real-time data collection from rivers and streams. It has developed a platform utilizing IoT technologies to enhance water management practices. This platform supports future planning and disaster prevention by forecasting river floods and addressing challenges in the aquaculture sector, such as preventing fish deaths. Additionally, Intoto aims to optimize the hydropower industry and improve overall water quality. By providing actionable insights, the company enables clients to make informed decisions regarding climate change and sustainable water resource management.

Plaace

Grant in 2020
Proptech company creating vibrant streets and cities by helping property owners choose and connect with the right concepts, at the right place, using the right data.

Völur

Grant in 2020
Völur optimizes meat value chains with the use of Artificial Intelligence. Its pioneering services enable a whole new set of possibilities that understands how your business works, predicts cause-effect outcomes, and makes real-time recommendations driven by the market demand.

Oivi

Grant in 2020
Oivi develops an easy and affordable AI-camera and platform that will identifies diabetic eye-disease. It allows retinal screening at primary care, creating awareness, and maintaining diabetic eye-health for all. The company has a multifaceted team with extensive knowhow on camera and software development. Oivi was founded on 2017 and is headquartered in Oslo, Norway.

Nekkar

Grant in 2020
Nekkar ASA is a company based on an industrial philosophy utilizing smart design, digitalization and electrification to achieve higher efficiency and more sustainable solutions for multiple industries.

GrepS

Angel Round in 2019
GrepS is a Norway-based technology company that is developing an authentic skill analysis for software engineers. GrepS is designed to show teams, companies and individual developers where they stand. GrepS uses robust measurement models rooted in 15 years of empirical research in Simula Laboratory and the University of Oslo to objectively benchmark the skills of teams and individual software engineers.

Simp

Venture Round in 2019
SIMP Social WiFi is an innovative & smart social media marketing and guest network platform that visualize your social media to the broadest and invite your customers to like, check in or follow your business on selected media platform. Identify your target group and conduct an efficient and accurate marketing. Loyal clients create growth and increased revenue. In today’s super competitive market, digital marketing is the most valuable asset you can have when targeting returning customers. There is also enormous potential in a "drop-in-customer". We help you get the most out of the opportunity and also build an accurate database. Learn more about how we use social WiFi to make things happen for your business: http://www.simp.no/

Fonn Construction

Seed Round in 2019
Fonn Construction is a user-friendly management software for construction teams. Get your work done with every update at your fingertips.

Intoto

Grant in 2019
Intoto is a Norwegian company specializing in real-time data collection from rivers and streams. It has developed a platform utilizing IoT technologies to enhance water management practices. This platform supports future planning and disaster prevention by forecasting river floods and addressing challenges in the aquaculture sector, such as preventing fish deaths. Additionally, Intoto aims to optimize the hydropower industry and improve overall water quality. By providing actionable insights, the company enables clients to make informed decisions regarding climate change and sustainable water resource management.

SammeVei

Grant in 2018
Founded in 2016, SammeVei is the leading ridesharing app in Norway and working on developing a software for the urban commute of the autonomous future. Our ongoing campaigns with the leading public transportation operators connect us with thousands of users for peer to peer ridesharing via our mobile app. Big data analytics, machine learning and AI is our next step to develop a SaaS for autonomous, on demand urban mobility. Our vision is backed by the star investors and innovation grant. We believe in self-sufficient and connected communities for zero emission urban commute.

ePekebok

Venture Round in 2018
ePekebok AS develops a reading platform Lesemeister that gives students access to e-books from the Norwegian publishers. The platform enables readers get readpoints, read with and without sound, record and listen in own reading voice, and automatic reading log.

reTyre

Pre Seed Round in 2018
reTyre is a pioneering manufacturer of modular bicycle tires designed to enhance user experience and adaptability. The company's innovative zip-on technology allows users to change the tire tread in seconds without the need for tools, enabling quick adjustments to suit various surfaces and weather conditions, such as winter or off-road terrains. This versatile system is not limited to bicycles; it can also be applied to wheelchairs, strollers, scooters, and motorcycles. By integrating advancements from multiple industries, reTyre aims to set new standards in tire performance while significantly reducing emissions compared to traditional rubber tires. This approach not only meets market demands efficiently but also emphasizes a commitment to sustainability and environmental responsibility.

Oivi

Grant in 2018
Oivi develops an easy and affordable AI-camera and platform that will identifies diabetic eye-disease. It allows retinal screening at primary care, creating awareness, and maintaining diabetic eye-health for all. The company has a multifaceted team with extensive knowhow on camera and software development. Oivi was founded on 2017 and is headquartered in Oslo, Norway.

CarePacks

Seed Round in 2018
CarePacks AS, founded in 2016 and based in Kirkenes, Norway, specializes in the home delivery of healthy snack boxes. The company focuses on curating high-quality snack products that serve as healthier alternatives to traditional options. CarePacks prioritizes snacks with reduced levels of sugar, salt, additives, and calories, while ensuring that they remain flavorful and enjoyable. Through its commitment to providing nutritious choices, CarePacks aims to enhance both physical well-being and overall mood for its customers.

LastCall

Grant in 2018
Get notification about last call tickets to concerts, screenings and shows near you, and buy them to discounted prices.

Terp

Seed Round in 2018
Terp AS publishes e-books. The e-book products identifies a starting reading position, and then customizes the content to provide the fastest route to knowledge, depending on the reading progress. It offers textbooks and entertainment books. The company was founded in 2014 and is based in Skjold, Norway.

Disruptive Technologies

Venture Round in 2017
Disruptive Technologies AS develops Internet of Things solutions (IoT), an advanced network of devices and services that reinvents how users interact with the world around. Its IoT is made up of physical objects containing the technology that enables sensing and control via Internet. The company was founded in 2013 and is based in Bergen, Norway.

Alphabet King

Venture Round in 2017
The Alphabet King Reading Lab is an innovative, complete setup, teaching kids how to read and write within weeks without guidance from qualified teachers. The Reading Lab is installed and functional without access to the internet, login or the grid. The apps run on all platforms for both tablets and mobile phones.

N2 Applied

Funding Round in 2017
N2 Applied is a Norwegian technology company focused on innovative solutions for nitrogen fertilizer production directly on farms. Established in 2010 and headquartered in Oslo, the company has developed a method that allows livestock farmers to convert liquid organic substrates, such as manure and biogas digestate, into fertilizer by extracting nitrogen from the air. This process not only enhances the nitrogen content of the substrate but also mitigates ammonia loss and lowers greenhouse gas emissions. N2 Applied's technology promotes resource efficiency and cost savings for farmers by facilitating local fertilizer production, thus eliminating the need for long supply chains and reliance on fossil-based chemical fertilizers. The company's scalable system contributes to a circular farming model, offering additional benefits such as reductions in methane and ammonia emissions, as well as minimizing odors. N2 Applied operates a test center in Norway and has branches in the Netherlands and the UK, positioning itself within the realms of livestock farming, organic agriculture, and sustainable practices.

Cutters

Seed Round in 2016
Cutters is a Norway-based hair salon established in 2015 that provides efficient and high-quality haircuts for both men and women. The salon operates on a unique drop-in model, focusing on delivering haircuts in just fifteen minutes at a fixed price of 299 euros. While Cutters emphasizes efficiency and quality, it does not offer additional services such as hair washing, head massages, or coloring. The company aims to provide a streamlined experience centered solely on haircuts, utilizing skilled hairdressers to ensure customer satisfaction.

Museai

Grant in 2015
Museai offers a beautiful voice recorder which lets you capture your ideas in no-time. Finally it's super easy to organise your precious ideas with their brilliant archive system. Your creative moments are safely stored in the cloud with their seamless backup system. Develop and collaborate on each other's ideas with their super efficient sharing mechanisms.

Kybernesis

Seed Round in 2013
Developer of games set in an original post-apocalyptic cyberpunk setting. Kybernesis started out by building an original futuristic setting set after several natural disasters have ravaged the Earth. The goal is to build this setting into a Transmedia franchise that includes games, comics, series, movies, books and more. On the way to this goal, the developers at Kybernesis are now working on their first game, Wasteland Bar Fight!, for mobile devices. And are currently in pre-production of their highly anticipated concept, Corp Wars. Corp Wars will be an online social strategy game where players help rebuild the post-apocalyptic world by forming corporations. Everything the player designs and builds in this game can then be reused in future games. People have come to categorize the concept as Minecraft meets Civilization meets Sim City meets Dust 514. In Corp Wars one player can build a factory, see that another player competes with her factory and therefore issue a black ops mission to sabotage that factory. Players of a 3D First Person Stealth Shooter can then team up, accept the mission and enter the factory built and designed by that other player and try to get through his security and sabotage the factory. The results will then be sent back to the strategy game, updating the mission status.

Sjapper

Grant in 2013
Sjapper is a mobile application that makes it easy to find local products, events and exclusives in Kristiansand and South-Norway. Sjapper is by Phidu Labs, an independent game development company, developing games based on self-owned IP and contracting work for others. They are specialized in games for iPhone and Social Networks, and serious games for different industries.

Atbrox

Grant in 2010
Atbrox is a company focused on providing solutions for businesses through the application of open source technologies, search methodologies, big data, and cloud computing services. The company has participated in significant research projects, including the Envisage project on cloud computing and the Hyvar project within the Internet of Things, both funded by the European Union. Additionally, Atbrox engages in investment activities, contributing sweat equity or small amounts to innovative tech startups, particularly in Scandinavia and the United States. Their investment interests span various sectors, including artificial intelligence, deep learning, big data, education, emergency management, healthcare, and mobile technologies. By leveraging their expertise and research capabilities, Atbrox aims to address complex challenges faced by organizations in today's digital landscape.

Sjapper

Grant in 2010
Sjapper is a mobile application that makes it easy to find local products, events and exclusives in Kristiansand and South-Norway. Sjapper is by Phidu Labs, an independent game development company, developing games based on self-owned IP and contracting work for others. They are specialized in games for iPhone and Social Networks, and serious games for different industries.

Yast

Seed Round in 2008
Yast is a "Software as a service" company. The service at www.yast.com is an online time-tracking application The company focuses on userfriendly interfaces When launced as a beta-solution in november 2009, it got a massive response from testers all around the world thanks to good reviews in blogs like lifehacker, downloadsquad, makeuseof and web-workers daily.