LPs include institutional investors Saminvest, the European Investment Fund, and SmartCap Green Fund, funded by the European Union NextGenerationEU; as well as leading tech founders, and family offices. Taavet Hinrikus and Sten Tamkivi’s investment firm Skaala joins the LP base, and Norrsken Evolve will expand programming to Kasvuhoone (the new Nordic hub for tech in Tallinn, Estonia). Norrsken Evolve will use the capital to invest in early-stage impact-driven companies and run in-person sprints with their founders.

The new fund is an evolution of Norrsken Accelerator, a fund that has been running since 2021 and has invested in 80 startups. It aims to annually invest in 20-30 companies in their initial phases of development, providing each with up-front capital of €250k. Founders will then join an in-person sprint, during which they receive scaleup guidance from Norrsken’s seasoned team and network of world-leading founders, investors, and operators.

Norrsken Evolve has a strong focus on European resilience and sustainability, backing founders driving positive global change through sustainable innovations in areas such as biotechnology, movement of goods, renewable energy generation and storage, security, bio, and healthtech.

Rebecka Löthman-Rydå, General Partner at Norrsken Evolve, says: “With Europe in the midst of environmental, geo-political and financial turmoil, many feel demoralised. Yet there is a rising wave of pioneers in the fields of science and technology who have the vision to tackle the severe challenges we face head on with groundbreaking solutions. We want to champion these founders by providing them with the capital and support needed to evolve their seedling of an idea into a fully flourished, world-changing business.”

 Funda Sezgi, Co-CEO, Norrsken Foundation and Co-Founder, Norrsken Accelerator, says: “When we launched Norrsken Accelerator four years ago, our mission was clear: to build a pipeline of emerging impact-tech unicorns and support founders at the moments that matter most. We’ve proven the model works. Now, with the €57 million Norrsken Evolve fund and a world-class team behind it, we’re doubling down – backing the most promising startups tackling global resilience and sustainability challenges with capital, expert guidance, and connection to the broader Norrsken ecosystem.”

The first portfolio companies have been announced:

• Aiomics: AI backbone transforming Europe's medical documentation into actionable intelligence
• Atmospheric AI: Al for the material world, making global supply chains transparent
• Bubble Robotics: underwater robotic constellations powering infrastructure, ecosystems, and climate resilience
• Chain Bioreactor: affordable and scalable 3D-printed bio-reactors
• FION Energy: smart industrial battery storage systems for maximum energy cost savings
• Humla: wearable, embedded platform enabling frictionless, hands-free use of AI capabilities for medical practitioners
• Jälle Technologies: battery waste upcycled into lithium and graphene-like materials
• New Dawn Bio: biotech growing final form wooden products, 10,000x faster than with trees
• Super6: revolutionising supercapacitor technology to unlock high-power, clean energy use
• TetraxAI: AI-powered platform for faster and less risky energy transition infrastructure development

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