Top Startups / January 28, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Norwegian Startups To Watch in 2022

Norway can sometimes be overlooked as a destination and popular ecosystem for startups, however, this shouldn't be the case. The capital city of Oslo has more than 50 spaces for innovation alone and Norwegian startups are rapidly growing. This is largely due to the active role that the Norwegian government takes with innovation, regularly investing in new startups within the country. Combine these factors with good education and finance opportunities within the country and you have an ideal location for top startups to flourish.


1. Abelee

Year Founded: 2017

HQ: Oslo, Norway

Size: 11-50

Founders: Ola Snøve

Abelee is a Norwegian startup that was founded in 2017 and is currently headquartered in Oslo, Norway. The company provides data-driven risk management solutions to the financial sector, utilizing advanced data and technology to create deeper strategies and more effective solutions to manage risk.

Since the business was founded, it has been successful in raising startup funding to help it grow. So far, the business has managed to raise a total of 70 Million Krone, which was provided by Aker Solutions.

2. Simp

Year Founded: 2015

HQ: Bergen, Norway

Size: 11-50

Founders: Tor Henning Endresen

Simp is a Norway startup that was founded in 2015 and is currently based in the city of Bergen in the country. The company provides a social media marketing and guest WiFi network solution. These solutions help customers to get onto the WiFi of their clients and then direct these customers over to their social media platforms for improved customer retention.

Since the business was founded in 2015, it has managed to raise a total of 7 Million Krone to further the goals and aspirations of the company. This investment was achieved by two investors and it is very likely that they will see more investment in the future.

3. TicketCo

Year Founded: 2013

HQ: Bergen, Norway

Size: 11-50

Founders: Carl-Erik Michalsen Moberg, Kåre Bottolfsen

TicketCo is a a Norwegian startup that was founded in 2013 and is currently based in the city of Bergen in Norway. The company provides an online platform for event organizers that allows those in Norway, Sweden and the UK. Their platform makes it easy to buy and sell tickets online for virtual events. The overall aim is to make sure that event organizers and customers can easily manage the events.

TicketCo has managed to raise a large amount of startup funding since it was founded, with the company raising a total of $11.8 Million. This funding was achieved through two rounds of funding, with one in 2018 and the other being in 2019.

4. Unloc

Year Founded: 2017

HQ: Oslo, Norway

Size: 11-50

Founders: August Flatby, Kris Riise

Unloc is a Norway startup that was founded in 2017 and is currently based in the capital city of the country. The company operates an app where users can digitally store all of their keys and use their devices to unlock a variety of different doors. This makes things more convenient for users, as they're not spending a long time fishing around for their keys in their pockets.

Unloc has achieved a good amount of startup funding since it was originally founded. This investment has come from a group of five investors, who collectively pledged a total of $7.2 Million- this was achieved across four separate rounds of funding.

5. GrepS

Year Founded: 2017

HQ: Oslo, Norway

Size: 1-10

Founders: Gunnar Bergersen, Heidi Frost Eriksen, Steiner Haugen

GrepS is a Norwegian startup that was founded in 2017 and is currently headquartered in the country's capital city. The team provides training and development tools for software engineers by utilizing advanced technology to create an authentic analysis of the skills of various software engineers. This allows managers to identify areas for improvement and to upskill their teams to meet their goals.

The company has managed to raise a decent amount of funding since it was founded, with the Norwegian government's own investment fund backing the project, along with another investment firm. Across a single round of funding, the business has managed to successfully raise a figure of 4 Million Krone.

6. Movi

Year Founded: 2014

HQ: Oslo, Norway

Size: 11-50

Founders: Anders Lassen, Eike Rösner, Espen Bjarnø, Lars-Erik Ravn, Morten Fornes

Movi is a Norway startup that was founded in 2014 and is currently based in Oslo, Norway. The company specializes in AI technology and product services. The company's main product is its advanced video player, which other companies can use to rival the video quality of major players in the game like Netflix, Amazon and Disney.

Since the business was founded, it has successfully managed to raise a total of $1.8 Million to further fund its growth and development. This investment was achieved from nine investors, a large number of these being angel investors from a single funding round.

7. AIMS Innovation

Year Founded: 2011

HQ: Oslo, Norway

Size: 11-50

Founders: Marius Wergeland Storsten

AIMS Innovation is a Norwegian startup that was founded in 2011 and is currently based in Oslo, Norway. The company provides advanced tools for monitoring the performance of applications, which allows IT professionals to rapidly identify when a problem has occurred, what is causing the problem to occur and eventually, how it can be completely fixed. This technology is easy to understand and does not require advanced training to use.

Since the business was founded, it has succeeded in achieving startup funding. This funding came to the tune of $2.5 Million across a single round of venture funding. This round took place in 2017 and the company has not received any investment since then.

8. Ably Medical

Year Founded: 2015

HQ: Oslo, Norway

Size: 11-50

Founders: Arve Voldsund, Cato Alexander Bjørkli, Jørn Refsnæs, Kjell Are Furnes

Ably Medical is a Norwegian startup that was founded in 2015 and is currently based in the city of Oslo in Norway. The company provides solutions for preventative healthcare, such as an advanced hospital bed that can provide monitoring and mobility to customers, along with contactless monitoring devices which can be added to most medical appliances. This makes healthcare less reactionary.

Since the company was founded in 2015, it has achieved funding to assist with its growth and development. This investment has come in the form of $6.2 Million in startup funding. This money was brought in by a single investor across four rounds of funding.

9. GroGro

Year Founded: 2018

HQ: Oslo, Norway

Size: 1-10

Founders: Malin Bruset, Rania Guirguis

GroGro is a Norway startup that was founded in 2018 and is currently based in Oslo, Norway. The company provides parents with healthy prepared foods and meals for both kids and babies. The business was founded by a qualified nutritionist and their offering makes it easier for parents to get kids the foods and nutrients that they need to grow up healthily.

Since the business was founded, it has successfully managed to raise a total of $850,000 in startup funding to further its growth and development. This investment came from a pair of investors over two different rounds of funding.

10. Nisonic

Year Founded: 2017

HQ: Trondheim, Norway

Size: 1-10

Founders: Jan Biti

Nisonic is a Norwegian medical startup that was founded in 2017 and is headquartered in Trondheim, Norway. The company designs and develops technological solutions that make it easier for doctors to monitor and diagnose a patient with increased intracranial pressure in a non-invasive and accurate manner, which has not been consistently achieved.

Since the business was founded, it has been successful in raising startup funding. As it stands, three investors have put their money behind the company. This was achieved through a single round of funding and the company managed to raise a figure of 16 Million Krone from that round.

11. Fuse

Year Founded: 2011

HQ: Oslo, Norway

Size: 11-50

Founders: Anders Lassen, Morten Fornes

Fuse is a Norwegian startup that was founded in 2011 and is currently based in Oslo, Norway. The company provides a solution for app designers and developers, the main aspects of the process that are improved by the company are user experience, which closes the gap between a functional prototype and the fully finished product.

Since the company was founded, it has received an impressive amount of startup funding. So far, three investors have put their money into the business across four rounds of funding. This has allowed the business to raise a collective total of $18.3 Million to further the company's growth and product development.

12. Correlate

Year Founded: 2015

HQ: Oslo, Norway

Size: 1-10

Founders: Halvor Kalve

Correlate is a Norwegian startup that was founded in 2015 and is currently headquartered in the capital city of the country. The company provides a tool that allows businesses to map out, share, control and create a visualization across an organization's own cloud drives. This makes the process of collaboration much easier and less complicated as a whole.

Since the business was founded, it has successfully managed to secure some startup funding. This funding was achieved through a 2017 venture round and the company managed to successfully secure a total of 8.6 Million Krone during that round.

13. Hjemmelegene

Year Founded: 2017

HQ: Oslo, Norway

Size: 11-50

Founders: Christian Hager, Raman Bhatnagar, Vegard Vik

Hjemmelegene is a Norwegian startup that was founded in 2017 and is currently based in Oslo, Norway. The company provides an app-based solution that allows patients to book an appointment with a doctor from the comfort of their own homes. They can also get help with prescriptions, consultations and referrals all for a fixed fee to avoid the dreaded doctor's waiting room.

Since the business was founded, it has secured an impressive amount of investment. This investment was achieved through a single investor across three separate rounds of funding. In total, the company has managed to raise a figure of 30.5 Million Krone.

14. LastCall

Year Founded: 2018

HQ: Oslo, Norway

Size: 1-10

Founders: Pouria Ruhi

LastCall is a Norway startup that was founded in 2018 and is currently based in the capital city, Oslo. The company provides an avenue for customers and event-goers to find and be notified of last-minute tickets for a variety of different events. The company also allows users to get these last tickets at discount prices, which is great considering the prevalence of ticket scalpers and resellers.

Since the company was founded, it has secured investment from the Norwegian government in three separate funding rounds. The result of this funding is that the company has managed to raise a total of 4.1 Million Krone.

15. Picterus

Year Founded: 2015

HQ: Trondheim, Norway

Size: 11-50

Founders: Anders Aune, Gunnar Vartdal, Lise Randeberg

Picterus is a Norwegian medical startup that was founded in 2015 and is currently based in Trondheim, Norway. The company has created a new smartphone app that allows for the screening of newborn children with jaundice. This affliction kills more than 100,000 newborns across the globe every year and having an easy-to-use method for early screening will help to save the lives of children across the world.

Since the business was founded, its mission to provide low-cost screening has caught the attention of investors. As it stands, the company has received outside investment from two sources across six rounds of funding. This funding has allowed the company to raise a figure of $3 Million.

16. Playpulse

Year Founded: 2017

HQ: Oslo, Norway

Size: 11-50

Founders: Erling Magnus Solheim, Kristoffer Hagen, Stian Weie

Playpulse is a Norway startup that was founded in 2017 and is currently based in the city of Oslo. The company aims to make workouts more exciting by creating a home exercise game, whereby if you pedal faster, your character goes faster. This interactive method of home workouts help to make it more fun for the average person and will help them to reach their fitness goals faster.

Since the company was founded, it has gone through two rounds of startup funding. These two rounds of funding have allowed the business to raise a figure of $2.3 Million to further its growth and development.

17. Age Labs

Year Founded: 2017

HQ: Oslo, Norway

Size: 1-10

Founders: Espen Riskedal, Karl Trygve Kalleberg

Age Labs is a Norwegian biotechnology startup that was founded in 2017 and is currently based in Oslo, Norway. The company aims to reduce the overall costs of medication by providing early diagnostics tools for the diagnosis of age-related diseases, along with a range of other solutions.

The business has received investment from two sources since it was founded, which has allowed the company to raise a total of $2 Million to further its research and development. This investment was achieved over two separate rounds of funding.

18. Airtight

Year Founded: 2016

HQ: Oslo, Norway

Size: 11-50

Founders: Alf Edvard Helseth, Bjornar Lie, Erik Lundby, Pal Kvalheim, Per Magne Helseth

Airtight is a building maintenance startup that was founded in Norway and currently operates out of Oslo. The business helps to manage buildings by providing monitoring, measuring and testing solutions to keep track of any leaks within a building. Early identification of such leaks is critical to ensuring that the building is not damaged and that there is minimal disruption for anyone inside the building.

The company has managed to raise a figure of 2.5 Million Euros in startup funding from a single round of grant funding, provided by the European Union. It is likely that we will see this company get more funding for growth and development in the future.

19. Outtt

Year Founded: 2012

HQ: Oslo, Norway

Size: 1-10

Founders: Erlend Eggen, Espen Oldeman Lund, Mari Mathews

Outtt is a Norway startup that was founded in 2012 and is currently based in the country's capital city. The company plans to make the outdoors more accessible by facilitating the sharing of knowledge, for things like trail discovery, finding new activities to do on these trails and providing offline maps for their users.

As it stands, the company has gone through a single round of startup funding and this has allowed the business to raise a total of 4 Million Krone to further its growth and the development of its platform.

20. Aprila Bank

Year Founded: 2016

HQ: Oslo, Norway

Size: 11-50

Founders: Arild Spandow, Israr Khan, Kjetil Barli, Per Christian Goller

Aprila Bank is a Norwegian startup that was founded in 2016 and is currently based in Oslo, Norway. The company has a banking license in the country and uses this to provide financing to SMEs across Norway and has connections with more than 100,000 of these businesses through a variety of integrated systems.

Since the business was founded, it has raised a mammoth amount of startup funding. The business has received funding from five different investors, across four separate rounds of funding and this has allowed them to raise 244 Million Krone since being founded.

21. SemmeVei

Year Founded: 2016

HQ: Oslo, Norway

Size: 1-10

Founders: Rasmus Myklebust

SammeVei is a Norwegian startup that was founded in 2016 and is currently headquartered in Oslo, Norway. The company provides one of the most popular ridesharing apps in Norway and is working towards the development of the autonomous urban commute of the future within Norway itself, joining the likes of Uber in this mission.

The Norwegian government has been very supportive of the company, providing funding across two separate rounds. These funding rounds have culminated in the business raising a total of 4.4 Million Krone, with these rounds taking place in 2017 and 2018 respectively.


FAQs

How Much is Invested in Norway?

According to statistics, it has been shown that Venture Capital investment in Norway reached a figure of $1.8 Billion in 2021. By comparison, Sweden reached $8.1 Billion and the UK reached $34.9 Billion.

What are the Strongest Sectors in Norway?

The main startup sectors in Norway are SaaS, with many tech companies focusing on this avenue. Furthermore, PropTech has taken a massive step forward within Norway. Fitting in with the country's oil wealth, Norway is also rapidly becoming known for its clean energy startups.

What Causes Startups in Norway to Fail?

There are a number of challenges that Norwegian startups face and one of these is a lack of access to angel-level funding. Furthermore, there can be some difficulties for startups to attract and retain talent, which can make it difficult to succeed in the market and attracting foreign talent can be even more difficult within the country.

Top Norwegian Startups To Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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