Sandwater

Sandwater is a venture capital firm established in 2021 and based in Oslo, Norway. The firm focuses on accelerating ambitious companies that aim to create meaningful impacts. Sandwater primarily targets venture funding opportunities within the Nordic region, seeking to support businesses that align with its mission of fostering innovation and driving positive change.

Torkel Engeness

Investor

Morten E. Iversen

Partner

Morten Korsveien

Investor

Kristian Melhuus

Partner

Tom Even Mortensen

Investor

10 past transactions

Cytovation

Venture Round in 2025
Cytovation AS is a privately-held biotech company located in Bergen, Norway, focused on developing innovative treatments for dermatological diseases. The company specializes in a synthetic peptide known as CyPep-1, which employs a novel mechanism of action to stimulate the immune system, allowing it to recognize and eliminate tumors. This approach aims to provide effective therapies for benign skin tumors as well as various forms of malignant skin cancers, including cutaneous warts. Through its unique treatment strategy, Cytovation is committed to advancing patient care in the field of dermatology.

Enduro Genetics

Series A in 2025
Enduro Genetics is a technology provider that specializes in enhancing large-scale fermentations through its proprietary synthetic biology technology. The company focuses on improving the performance of fermentation processes by developing a genetic plugin technology that is free of antibiotic resistance genes. This innovation allows for higher yields by enriching spontaneous high producers within the fermentation population, facilitating the production of complex or cellular inhibit products by addressing strain instability. By maximizing the performance of cells derived from production strains, Enduro aims to bolster the competitiveness of both current and future green bioproduction initiatives.

XO Life

Venture Round in 2024
XO Life operates a digital platform that facilitates patient education, engagement, and monitoring. It offers services such as real-time treatment tracking, patient feedback analysis, and insights exchange between patients and pharmaceutical companies. The platform aims to enhance medication adherence, improve patient outcomes, and foster better communication between patients and healthcare providers.

CardioSignal

Series A in 2024
CardioSignal develops innovative solutions for detecting heart diseases. Its flagship product is a mobile application certified as a medical device for atrial fibrillation detection, built on over a decade of research.

1X

Secondary Market in 2024
1X designs and develops humanoid robots to operate in the physical world. Its robots enable security, retail, logistics, and healthcare companies to deploy safe, capable, and affordable robots to work alongside their employees.

FarmInsect

Series A in 2023
FarmInsect GmbH, established in 2019 and headquartered in Bergkirchen, Germany, specializes in automated insect breeding systems. The company develops machines and IoT solutions that enable regional farmers to rear insects on-site for use as animal feed, primarily for chickens, pigs, and fish. This sustainable approach aims to replace imported soy or fishmeal with locally produced protein feed, thereby enhancing the efficiency of animal husbandry while reducing environmental impact.

ClimateView

Series A in 2023
Founded in Stockholm, Sweden in 2017, ClimateView develops a SaaS platform empowering public sector entities to make data-driven climate transition decisions. Its software collects and organizes climate data, enabling systematic modeling of political, economic, and energy shifts across cities, regions, and nations.

1X

Series A in 2023
1X designs and develops humanoid robots to operate in the physical world. Its robots enable security, retail, logistics, and healthcare companies to deploy safe, capable, and affordable robots to work alongside their employees.

Evyon

Seed Round in 2022
Evyon is a Norwegian company established in 2020. It specializes in repurposing discarded electric vehicle (EV) batteries into high-quality, affordable, and plug-and-play battery energy storage systems. Evyon's proprietary hardware and Battery Cloud ecosystem facilitate this conversion, enabling residential and commercial clients to reduce battery waste and contribute to a circular economy.

Nofence

Series A in 2022
Nofence is a Norwegian ag-tech company that has developed a patented virtual fencing system for livestock management. The system uses solar-powered GPS collars to define pastures via smartphone or tablet, enabling real-time monitoring and notifications. This innovative solution aims to enhance global food security by optimizing land use and increasing pasture productivity.
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