Hardtech investors in Norway

Alliance VC (Alliance Venture) is a Nordic early-stage venture capital firm founded in 2001, with partners on the ground in Oslo, Stockholm, Copenhagen and Helsinki, backing Nordic founders with global ambitions. While its current thesis centers on applied AI and software, its portfolio includes verified hardtech bets such as 1X Technologies (humanoid robotics) and Aquabyte (computer-vision hardware for fish farming), and it is actively deploying its newly closed Alliance Nordic III fund.

Backed 1X Technologies (Halodi Robotics), Aquabyte

Global early-stage venture capital firm with a dedicated always-on residency model in the Nordics, investing from day zero through Series C.

Backed Evyon (battery storage from repurposed EV batteries)

Bring Ventures is the corporate venture arm of the Norway Post Group, investing in early-stage companies focusing on sustainability and digitization within logistics and related sectors.

Equinor Ventures is the Stavanger, Norway-based corporate venture capital arm of Equinor, investing since 1991 in early-phase and growth companies developing renewable energy, low-carbon and energy-transition technologies, with a portfolio concentrated in Europe and North America.

Backed RayGen, Hysun, Oxford PV, EcoLectro, Beyonder, Corvus Energy

Eviny Ventures is the ~50 MEUR corporate venture capital arm of Norwegian energy utility Eviny, based in Bergen, investing from Seed to Series A in startups accelerating the electrification and energy transition across the Nordics and northern Europe, with roughly 20 portfolio companies and 3 exits to date.

Backed Heimdall Power, Zinus, Really!, Cartesian, Photoncycle, Tequs

Norway's state-owned instrument for grants, loans and guarantees to innovative companies, spanning early oppstartstilskudd startup grants through billion-kroner risk loans for battery gigafactories under the green industrial push. In 2025 it deployed 9.4 billion NOK across grants, loans and guarantees, with rolling applications year round.

Backed Evyon, Beyonder, Morrow Batteries, Vianode, Cenate, Freyr Battery

Norway’s largest venture investor, providing growth capital to tech companies with international potential.

Backed Onio, Numascale, poLight

Katapult is an Oslo-based impact investment platform founded in 2015 by Tharald Nustad, now spanning venture funds, accelerators and a foundation. Its dedicated ocean arm, Katapult Ocean, has made 90 investments in blue economy startups working on transportation, circularity, ocean data, energy and food and water.

Backed Zeabuz, Bound4Blue, Evoy, Flocean, Desolenator, Sand to Green

Kongsberg Innovation is a Norwegian, Kongsberg-based business incubator and early-stage investor backed by Kongsberg Gruppen, Kongsberg Automotive, Equinor, TechnipFMC, Siemens Energy and other industrial owners. It runs the Kongsberg Pre-Seed Fund, typically investing 1 to 2 million NOK in first equity rounds in Norwegian B2B deep tech startups across maritime, ocean tech, energy transition, advanced manufacturing and industrial digitalisation.

Backed Applied Autonomy, Kitemill, Kongsberg Ferrotech, N2 Applied, Distributed Ship Surveillance, ProfMOF

State-owned Norwegian climate investment company, headquartered in Stavanger and owned by the Ministry of Trade, Industry and Fisheries, backing hardtech and climate technology companies and funds.

Backed Morrow Batteries, Hystar, Cenate, Alva Industries, Lace Lithography

Early-stage VC fund, tech hub and industry software alliance based in Fornebu (Lysaker), Norway, investing $100k to $3m at pre-seed and seed into data-centric industrial technology that makes heavy industry more efficient, resilient and sustainable.

Backed Sonair (patented 3D ultrasonic sensor hardware for robot autonomy)

Sandwater is an Oslo based venture capital firm investing in early stage companies developing novel solutions in climate, energy and healthcare.

Backed 1X Technologies (humanoid robotics), Nofence (virtual fencing hardware), Evyon (second life battery storage), Antec Biogas (plug flow reactors), Filics (warehouse robotics), CardioSignal (cardiac digital biomarker device)

Corporate venture capital arm of SINTEF, one of Europe's largest independent research organizations. Commercializes IP and spins out deep tech ventures from SINTEF and NTNU research, investing through successive seed and early-stage funds (SINTEF Venture III through VI).

Backed Sonair, Cartesian, Hystar, MoreScope, Mia Health, poLight

SNÖ Ventures is an Oslo-based early-stage VC investing in Nordic founders across software, gaming and consumer tech, with Peter Thiel as a strategic partner in its USD 100 million fund. Its one hardtech position is Nordic Air Defence, a drone interceptor maker it backed in 2024.

Backed Nordic Air Defence

Norway's leading incubator, accelerator and early-stage investor for tech startups, based in Oslo and Bergen, investing through its Founders Fund vehicle.

Backed Photoncycle (solid hydrogen seasonal energy storage hardware), Huddly (AI camera hardware), reMarkable (e-paper tablet hardware), Sensibel (MEMS sensor hardware)