The first quarter of 2025 showcased a vibrant investment landscape for Norwegian startups, with a variety of companies across multiple sectors securing funding. From AI-driven solutions to sustainable technologies, the deals reflect Norway’s diverse and innovative entrepreneurial ecosystem. Below is a detailed overview of the startups and their investment rounds in Q1 2025.

Key Deals and Startups

Kezzler, a B2B software services company specializing in supply chain traceability, raised $26.4 million from DNV Ventures, Investinor, and Tomra. Tana, another B2B SaaS player, secured $14 million from Alliance Venture, Firstminute Capital, Lightspeed Venture Partners, Northzone, and Tola Capital. Huddly, focused on hardware and telecom, brought in $13.84 million, though specific investors were not disclosed.

In the AI and big data space, Kosli raised $10 million from a consortium including Deutsche Bank, Fortino Capital Partners, and Heavybit Inc., targeting DevOps security. Metric, operating in ecommerce and online marketing analytics, secured $8.28 million from Altitude Capital, Kvantia, chess grandmaster Magnus Carlsen, and others. Catchwise, blending AI with agriculture and mobile tech, raised $1.29 million from Dreamcraft Ventures, HL Invest AS, and several angel investors.

Financial services startups also saw activity. Stack by me, a multi-model platform (affiliates, B2B, B2C retail) in financial services and social networking, raised $946.58k from Folkeinvest AS and Stian Rustad. SmartOrg, a B2B SaaS fintech, secured $1.23 million from J.B. Ugland and Andreas Skalleberg, while Spense, focused on mobile financial services, raised $893k from Gjensidige and Venditio & Co. FinFly, a marketplace and affiliate-driven fintech, attracted an undisclosed amount from investors including Aase Settevik and Trond Riiber Knudsen.

Sustainability and Construction

Reduzer, addressing energy efficiency in construction and real estate, raised $1.79 million from Construct Venture AS, Momentum Partners, and Futurum Ventures. Kvist Solutions, also in construction and real estate with a social responsibility angle, secured $1.32 million from DNB, Ferd Capital, and Kiilto Ventures. Installer, a SaaS platform for the construction marketplace, raised $4 million from Brighteye Venture, PropTech1 Ventures, and others.

Hardware and Health

Avisomo, combining agriculture, hardware, and manufacturing, raised $3.52 million, while Tidewave, in health services and manufacturing, secured $827.2k. Hili, a marketplace spanning financial services and real estate, brought in $1.32 million, with investors undisclosed.

Other Notable Rounds

Nomadic Drone, operating in airline, automotive, and energy sectors, raised $1.6 million from Outlander VC and Asia2G Capital. Telescope, an AI-driven real estate SaaS, secured $3.85 million from Dreamcraft Ventures, OBOS, and Scale Capital. Oceanbox, focused on agriculture and competitive intelligence, raised $1.34 million from Futurum Ventures and Ichthus Venture Capital. Visoid, an AI-powered interior design SaaS, secured $728.7k from Antler, StartupLab Founders, and OBOS.

Smaller rounds included Sirken ($114.4k from StartupLab Founders and Møller Eiendom) in construction and ecommerce, and Newbringer ($446.5k from Reex and Verd Investering) in advertising and gaming. Several startups, such as Wirescan, Noteless, Unlisted, Naardic, SiriNor, Vev, and Marketer, secured funding with amounts undisclosed, reflecting a mix of competitive intelligence, health services, and online marketing ventures.

Investor Highlights

Local investors like StartupLab Founders, OBOS, and Futurum Ventures appeared frequently, backing companies like Chargitect ($446.5k), Receipts ($1.78 million), and Installer. International players, including Adara Ventures (Wirescan), Deutsche Bank (Kosli), and Lightspeed Venture Partners (Tana), also participated, alongside prominent angels like Magnus Carlsen and Trond Riiber Knudsen.

Conclusion

The Q1 2025 investment activity in Norwegian startups highlights a broad spectrum of innovation, from AI and fintech to sustainable construction and hardware. With both domestic and global investors engaged, these deals underscore Norway’s dynamic role in the Nordic tech scene, supporting companies poised for growth across various industries.

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