Northzone

Northzone is a venture capital firm founded in 1996 and based in London, with offices in New York, Oslo, and Stockholm. It invests in technology-enabled companies across healthcare, software, hardware, artificial intelligence, semiconductors, blockchain, and gaming, spanning early-stage and multi-stage opportunities. The firm emphasizes connections by helping portfolio companies access customers, partners, and talent on an international scale. Northzone has backed notable founders of Spotify, Avito, iZettle, Klarna, and Hopin, reflecting a history of building category-defining businesses. The firm maintains a Nordic and European footprint while operating globally, and has raised substantial capital, including over €1.5 billion in funds.

Alex Agureev

Associate

Torleif Ahlsand

General Partner

Tomas Bennich

Venture Partner

Nick Boesel

Associate

Justin Cooke

Venture Partner

Pascual Cortes-Monroy

Vice President

Dominik Esen

Vice President

Markus Gleim

Principal

Harriet Hamblin

Associate

Jackson Heddy

CFO

William Jilltoft

Associate

Aaron Liu

Vice President

Sanjot Malhi

Partner

Naseem Moumene

Associate

Michelle Nacouzi

Principal

Sarah Nöckel

Vice President

Hans Otterling

Partner

Elena Pantazi

Partner

Pär-Jörgen Pärson

Partner

Deepka Rana

Principal

Maxine Rior

Principal

Wendy Xiao

Partner

Jessica Schultz

Partner

Lena Stocker

Associate

Bjorn Stray

Partner

Tellef Thorleifsson

Founding Partner

Pieter-Jan Van Haute

Vice President

Paula Weber

Associate

Jeppe Zink

Partner

Past deals in Scandinavia

Tana

Series A in 2025
Tana is a software development company founded in 2020 and based in Oslo, Norway. The company has created an online work platform aimed at transforming the way individuals, teams, and computers collaborate. This innovative platform allows users to convert raw notes into actionable tasks, bugs, and follow-ups, streamlining information retrieval. By presenting data in a graphical format, Tana helps clients eliminate the need for traditional files and folders, enabling more efficient access to critical information for decision-making and follow-ups.

Anyfin

Series C in 2023
Anyfin is a Stockholm-based fintech that provides a loan refinancing platform. The service enables users to refinance existing loans by taking a photo of loan statements and using consumer data and artificial intelligence to assess terms and potential savings. By reducing reliance on intermediaries, the platform aims to secure lower interest costs for borrowers without extending repayment periods. Founded in 2017, Anyfin focuses on helping customers improve their financial situation from Sweden.

Einride

Series C in 2022
Einride AB, established in 2016, specializes in sustainable freight transportation. Headquartered in Stockholm, Sweden, with additional offices in Gothenburg and Palo Alto, the company manufactures electric trucks, known as Einride Pods, for road freight. These vehicles are designed for autonomous operation, reducing emissions and enhancing safety. Einride also offers digital platforms for clients to plan, order, and track shipments, providing real-time data and insights. Notably, Einride became the first company to operate an autonomous, electric freight vehicle on a public road in 2019.

Depict

Series A in 2022
Founded in Stockholm, Sweden in 2019, Depict is developing an AI-driven platform that enhances e-commerce product recommendations using advanced neural networks and computer vision. It analyzes real-time shopper behavior to provide actionable insights on product performance, helping fashion and retail businesses improve customer engagement and drive sales.

Matsmart

Series C in 2021
Matsmart Scandinavia AB is an online platform based in Skogås, Sweden, that specializes in selling surplus food products at discounted prices. Founded in 2014 by Karl Andersson, Erik Södergren, and Ulf Skagerström, the company addresses the issue of food waste by offering items that may otherwise be discarded due to packaging changes, approaching expiration dates, or other factors. Matsmart has successfully expanded its operations to Norway and Finland, achieving significant growth in the process, with recurring revenues reaching SEK 200 million. In 2017 alone, the company managed to save 2,022 tonnes of food from being wasted, providing suppliers with a viable outlet for their surplus inventory while promoting sustainability in the grocery sector.

Anyfin

Series B in 2021
Anyfin is a Stockholm-based fintech that provides a loan refinancing platform. The service enables users to refinance existing loans by taking a photo of loan statements and using consumer data and artificial intelligence to assess terms and potential savings. By reducing reliance on intermediaries, the platform aims to secure lower interest costs for borrowers without extending repayment periods. Founded in 2017, Anyfin focuses on helping customers improve their financial situation from Sweden.

Einride

Series B in 2021
Einride AB, established in 2016, specializes in sustainable freight transportation. Headquartered in Stockholm, Sweden, with additional offices in Gothenburg and Palo Alto, the company manufactures electric trucks, known as Einride Pods, for road freight. These vehicles are designed for autonomous operation, reducing emissions and enhancing safety. Einride also offers digital platforms for clients to plan, order, and track shipments, providing real-time data and insights. Notably, Einride became the first company to operate an autonomous, electric freight vehicle on a public road in 2019.

Labster

Series C in 2021
Labster is a company that develops an innovative platform for virtual laboratory simulations, aiming to enhance science education through technology. Founded in 2011 in Copenhagen, Denmark, Labster offers a scalable online platform primarily focused on biotechnology education. Its virtual labs utilize advanced mathematical algorithms to create immersive, 3D learning environments that include molecular animations, quiz questions, and theoretical background. This interactive format allows students to engage in open-ended investigations and experiment with scientific concepts in a gamified context. Labster's solutions have been shown to significantly improve learning outcomes compared to traditional methods while also reducing educational costs. The company is committed to making life science education more accessible and effective on a global scale.

Tana

Seed Round in 2021
Tana is a software development company founded in 2020 and based in Oslo, Norway. The company has created an online work platform aimed at transforming the way individuals, teams, and computers collaborate. This innovative platform allows users to convert raw notes into actionable tasks, bugs, and follow-ups, streamlining information retrieval. By presenting data in a graphical format, Tana helps clients eliminate the need for traditional files and folders, enabling more efficient access to critical information for decision-making and follow-ups.

Depict

Seed Round in 2020
Founded in Stockholm, Sweden in 2019, Depict is developing an AI-driven platform that enhances e-commerce product recommendations using advanced neural networks and computer vision. It analyzes real-time shopper behavior to provide actionable insights on product performance, helping fashion and retail businesses improve customer engagement and drive sales.

Labster

Venture Round in 2020
Labster is a company that develops an innovative platform for virtual laboratory simulations, aiming to enhance science education through technology. Founded in 2011 in Copenhagen, Denmark, Labster offers a scalable online platform primarily focused on biotechnology education. Its virtual labs utilize advanced mathematical algorithms to create immersive, 3D learning environments that include molecular animations, quiz questions, and theoretical background. This interactive format allows students to engage in open-ended investigations and experiment with scientific concepts in a gamified context. Labster's solutions have been shown to significantly improve learning outcomes compared to traditional methods while also reducing educational costs. The company is committed to making life science education more accessible and effective on a global scale.

Matsmart

Venture Round in 2019
Matsmart Scandinavia AB is an online platform based in Skogås, Sweden, that specializes in selling surplus food products at discounted prices. Founded in 2014 by Karl Andersson, Erik Södergren, and Ulf Skagerström, the company addresses the issue of food waste by offering items that may otherwise be discarded due to packaging changes, approaching expiration dates, or other factors. Matsmart has successfully expanded its operations to Norway and Finland, achieving significant growth in the process, with recurring revenues reaching SEK 200 million. In 2017 alone, the company managed to save 2,022 tonnes of food from being wasted, providing suppliers with a viable outlet for their surplus inventory while promoting sustainability in the grocery sector.

HappyOrNot

Series B in 2019
HappyOrNot Ltd. is a Finnish company founded in 2009, headquartered in Tampere, Finland, with a global presence that includes offices in the US, UK, Germany, France, Netherlands, and Singapore. The company specializes in instant customer and employee satisfaction analytics, utilizing its signature 'Smiley' feedback system. HappyOrNot offers a range of wireless point-of-experience devices, including the Smiley Terminal, Smiley Touch, Web Smileys, and Smiley Wall, which collect and analyze feedback from various sectors such as retail, transportation, healthcare, and education. With over 25,000 Smiley Terminals deployed worldwide, the company has gathered nearly a billion responses from more than 4,000 clients in 117 countries. HappyOrNot's services enable organizations to visualize feedback on a four-point scale, allowing them to make informed adjustments to enhance customer experience and employee satisfaction.

Anyfin

Series A in 2019
Anyfin is a Stockholm-based fintech that provides a loan refinancing platform. The service enables users to refinance existing loans by taking a photo of loan statements and using consumer data and artificial intelligence to assess terms and potential savings. By reducing reliance on intermediaries, the platform aims to secure lower interest costs for borrowers without extending repayment periods. Founded in 2017, Anyfin focuses on helping customers improve their financial situation from Sweden.

Kitab Sawti

Private Equity Round in 2019
Kitab Sawti AB is a Swedish company established in 2016 that specializes in producing and distributing audiobooks and podcasts in Arabic. Based in Stockholm, the company has developed a mobile application that provides Arabic speakers with access to audiobooks, facilitating the discovery and enjoyment of Arabic literature. The platform collaborates with authors, publishers, and libraries to obtain exclusive copyrights, thereby promoting the reading and appreciation of Arabic literary works on a global scale. By offering features that allow users to easily find, play, and control their listening experience, Kitab Sawti aims to enhance the accessibility of Arabic literature and foster a greater understanding of the Arabic language. As of July 2020, Kitab Sawti operates as a subsidiary of Storytel AB.

Labster

Series B in 2019
Labster is a company that develops an innovative platform for virtual laboratory simulations, aiming to enhance science education through technology. Founded in 2011 in Copenhagen, Denmark, Labster offers a scalable online platform primarily focused on biotechnology education. Its virtual labs utilize advanced mathematical algorithms to create immersive, 3D learning environments that include molecular animations, quiz questions, and theoretical background. This interactive format allows students to engage in open-ended investigations and experiment with scientific concepts in a gamified context. Labster's solutions have been shown to significantly improve learning outcomes compared to traditional methods while also reducing educational costs. The company is committed to making life science education more accessible and effective on a global scale.

Trustpilot

Series E in 2019
Trustpilot operates a global review platform that enables consumers to discover and share reviews of businesses across various categories. It facilitates direct engagement between consumers and companies, fostering trust and improvement in services. Established in 2007, Trustpilot has grown to employ over 700 people across offices in Copenhagen, London, New York, Denver, Berlin, Melbourne, and Vilnius.

Kitab Sawti

Venture Round in 2018
Kitab Sawti AB is a Swedish company established in 2016 that specializes in producing and distributing audiobooks and podcasts in Arabic. Based in Stockholm, the company has developed a mobile application that provides Arabic speakers with access to audiobooks, facilitating the discovery and enjoyment of Arabic literature. The platform collaborates with authors, publishers, and libraries to obtain exclusive copyrights, thereby promoting the reading and appreciation of Arabic literary works on a global scale. By offering features that allow users to easily find, play, and control their listening experience, Kitab Sawti aims to enhance the accessibility of Arabic literature and foster a greater understanding of the Arabic language. As of July 2020, Kitab Sawti operates as a subsidiary of Storytel AB.

Anyfin

Series A in 2018
Anyfin is a Stockholm-based fintech that provides a loan refinancing platform. The service enables users to refinance existing loans by taking a photo of loan statements and using consumer data and artificial intelligence to assess terms and potential savings. By reducing reliance on intermediaries, the platform aims to secure lower interest costs for borrowers without extending repayment periods. Founded in 2017, Anyfin focuses on helping customers improve their financial situation from Sweden.

Zervant

Series B in 2018
Founded in 2010, Zervant is a leading European provider of online invoicing platforms tailored for micro enterprises. Its platform integrates payment services and financial products to streamline business operations.

Matsmart

Venture Round in 2018
Matsmart Scandinavia AB is an online platform based in Skogås, Sweden, that specializes in selling surplus food products at discounted prices. Founded in 2014 by Karl Andersson, Erik Södergren, and Ulf Skagerström, the company addresses the issue of food waste by offering items that may otherwise be discarded due to packaging changes, approaching expiration dates, or other factors. Matsmart has successfully expanded its operations to Norway and Finland, achieving significant growth in the process, with recurring revenues reaching SEK 200 million. In 2017 alone, the company managed to save 2,022 tonnes of food from being wasted, providing suppliers with a viable outlet for their surplus inventory while promoting sustainability in the grocery sector.

HappyOrNot

Series A in 2017
HappyOrNot Ltd. is a Finnish company founded in 2009, headquartered in Tampere, Finland, with a global presence that includes offices in the US, UK, Germany, France, Netherlands, and Singapore. The company specializes in instant customer and employee satisfaction analytics, utilizing its signature 'Smiley' feedback system. HappyOrNot offers a range of wireless point-of-experience devices, including the Smiley Terminal, Smiley Touch, Web Smileys, and Smiley Wall, which collect and analyze feedback from various sectors such as retail, transportation, healthcare, and education. With over 25,000 Smiley Terminals deployed worldwide, the company has gathered nearly a billion responses from more than 4,000 clients in 117 countries. HappyOrNot's services enable organizations to visualize feedback on a four-point scale, allowing them to make informed adjustments to enhance customer experience and employee satisfaction.

Labster

Series A in 2017
Labster is a company that develops an innovative platform for virtual laboratory simulations, aiming to enhance science education through technology. Founded in 2011 in Copenhagen, Denmark, Labster offers a scalable online platform primarily focused on biotechnology education. Its virtual labs utilize advanced mathematical algorithms to create immersive, 3D learning environments that include molecular animations, quiz questions, and theoretical background. This interactive format allows students to engage in open-ended investigations and experiment with scientific concepts in a gamified context. Labster's solutions have been shown to significantly improve learning outcomes compared to traditional methods while also reducing educational costs. The company is committed to making life science education more accessible and effective on a global scale.

Matsmart

Venture Round in 2017
Matsmart Scandinavia AB is an online platform based in Skogås, Sweden, that specializes in selling surplus food products at discounted prices. Founded in 2014 by Karl Andersson, Erik Södergren, and Ulf Skagerström, the company addresses the issue of food waste by offering items that may otherwise be discarded due to packaging changes, approaching expiration dates, or other factors. Matsmart has successfully expanded its operations to Norway and Finland, achieving significant growth in the process, with recurring revenues reaching SEK 200 million. In 2017 alone, the company managed to save 2,022 tonnes of food from being wasted, providing suppliers with a viable outlet for their surplus inventory while promoting sustainability in the grocery sector.

Matsmart

Venture Round in 2016
Matsmart Scandinavia AB is an online platform based in Skogås, Sweden, that specializes in selling surplus food products at discounted prices. Founded in 2014 by Karl Andersson, Erik Södergren, and Ulf Skagerström, the company addresses the issue of food waste by offering items that may otherwise be discarded due to packaging changes, approaching expiration dates, or other factors. Matsmart has successfully expanded its operations to Norway and Finland, achieving significant growth in the process, with recurring revenues reaching SEK 200 million. In 2017 alone, the company managed to save 2,022 tonnes of food from being wasted, providing suppliers with a viable outlet for their surplus inventory while promoting sustainability in the grocery sector.

iZettle

Series D in 2016
iZettle AB is a financial technology company based in Stockholm, Sweden, that specializes in mobile payment services and applications designed for small businesses and entrepreneurs. Founded in 2010, it revolutionized the industry with the introduction of the first mini chip card reader, enabling businesses to accept card payments through smartphones and tablets. iZettle offers a range of products, including the iZettle Card Reader Lite and an application compatible with iOS and Android devices, which facilitate payment processing, business management, sales analytics, and customer engagement. The company serves a diverse clientele across several countries, including Sweden, Norway, Denmark, Finland, the United Kingdom, Germany, Spain, Mexico, the Netherlands, and Brazil. As of 2018, iZettle operates as a subsidiary of PayPal Holdings, Inc.

Zervant

Series A in 2016
Founded in 2010, Zervant is a leading European provider of online invoicing platforms tailored for micro enterprises. Its platform integrates payment services and financial products to streamline business operations.

Outfittery

Series E in 2016
Outfittery is an online personal shopping service designed specifically for men, aiming to simplify the shopping experience. The company employs personal style experts who curate two to three outfits for customers based on their individual preferences and personalities, utilizing a selection from various top fashion brands. After an initial online interaction and an optional phone consultation, customers receive a selection of clothing items tailored to their style. The service is free, with customers only paying for the items they choose to keep. Outfittery updates its inventory regularly to feature the latest offerings from interesting men's fashion brands and popular designers worldwide. As a pioneer and market leader in curated shopping for men in Europe, Outfittery operates in eight countries, including Germany, Austria, and the Netherlands.

Supponor

Series B in 2016
Supponor is a sports media and technology company that transforms traditional perimeter advertising in live sports broadcasts through its innovative DBRLive technology. By replacing physical advertisements with virtual, targeted digital content, Supponor ensures that viewers see pitch-side promotions relevant to their specific audiences. The company focuses on three main areas: managing the DBRLive platform, enhancing the value of sports rights holders' advertising inventory, and providing brands with targeted marketing opportunities in the sports sector. Headquartered in the UK, Supponor's operations teams collaborate with local partners at sporting events worldwide. Additionally, its research and development team in Espoo, Finland, continually refines the underlying technology to expand its capabilities and create added value for clients and partners. The company is privately held and backed by management, private investors, and venture capital funds.

Matsmart

Venture Round in 2015
Matsmart Scandinavia AB is an online platform based in Skogås, Sweden, that specializes in selling surplus food products at discounted prices. Founded in 2014 by Karl Andersson, Erik Södergren, and Ulf Skagerström, the company addresses the issue of food waste by offering items that may otherwise be discarded due to packaging changes, approaching expiration dates, or other factors. Matsmart has successfully expanded its operations to Norway and Finland, achieving significant growth in the process, with recurring revenues reaching SEK 200 million. In 2017 alone, the company managed to save 2,022 tonnes of food from being wasted, providing suppliers with a viable outlet for their surplus inventory while promoting sustainability in the grocery sector.

iZettle

Series D in 2015
iZettle AB is a financial technology company based in Stockholm, Sweden, that specializes in mobile payment services and applications designed for small businesses and entrepreneurs. Founded in 2010, it revolutionized the industry with the introduction of the first mini chip card reader, enabling businesses to accept card payments through smartphones and tablets. iZettle offers a range of products, including the iZettle Card Reader Lite and an application compatible with iOS and Android devices, which facilitate payment processing, business management, sales analytics, and customer engagement. The company serves a diverse clientele across several countries, including Sweden, Norway, Denmark, Finland, the United Kingdom, Germany, Spain, Mexico, the Netherlands, and Brazil. As of 2018, iZettle operates as a subsidiary of PayPal Holdings, Inc.

Spotify

Series G in 2015
Spotify offers a digital music-streaming service, providing on-demand access to songs across various devices. It enables users to search and discover music collections, build playlists, share music via social networks, and receive personalized recommendations based on listening history.

Trustpilot

Series D in 2015
Trustpilot operates a global review platform that enables consumers to discover and share reviews of businesses across various categories. It facilitates direct engagement between consumers and companies, fostering trust and improvement in services. Established in 2007, Trustpilot has grown to employ over 700 people across offices in Copenhagen, London, New York, Denver, Berlin, Melbourne, and Vilnius.

Outfittery

Series C in 2015
Outfittery is an online personal shopping service designed specifically for men, aiming to simplify the shopping experience. The company employs personal style experts who curate two to three outfits for customers based on their individual preferences and personalities, utilizing a selection from various top fashion brands. After an initial online interaction and an optional phone consultation, customers receive a selection of clothing items tailored to their style. The service is free, with customers only paying for the items they choose to keep. Outfittery updates its inventory regularly to feature the latest offerings from interesting men's fashion brands and popular designers worldwide. As a pioneer and market leader in curated shopping for men in Europe, Outfittery operates in eight countries, including Germany, Austria, and the Netherlands.

Vionlabs

Seed Round in 2015
Vionlabs AB is a technology company based in Stockholm, Sweden, with an additional office in Barcelona, Spain, specializing in digital ecosystems for carriers, cable networks, and Internet providers in Scandinavia, Europe, and the Middle East. The company has developed an advanced video discovery platform that leverages artificial intelligence to enhance content discovery and user engagement. Its solutions include MMDb, an app for discovering music through movies, and a digital ecosystem for online viewing and distributing films and TV shows, notably in collaboration with Tele 2 in Sweden and Latvia. Vionlabs' AI-driven technology employs deep scene-by-scene content analysis, enabling clients to implement a recommendation engine that personalizes the viewing experience. This innovation has made Vionlabs a trusted partner for major players in the media and entertainment industry, optimizing content workflows and improving viewer experiences across various platforms.

AllUnite

Series A in 2014
Founded in Copenhagen in 2013 by Esben Elmoe and Kasper Gevaldig, AllUnite is a global advertising technology platform that empowers advertising companies and media agencies to effectively measure, forecast, and target audiences. It specializes in out-of-home audience measurement, providing hardware and technology for data collection, processing, and analysis.

Spotify

Secondary Market in 2014
Spotify offers a digital music-streaming service, providing on-demand access to songs across various devices. It enables users to search and discover music collections, build playlists, share music via social networks, and receive personalized recommendations based on listening history.

iZettle

Series C in 2014
iZettle AB is a financial technology company based in Stockholm, Sweden, that specializes in mobile payment services and applications designed for small businesses and entrepreneurs. Founded in 2010, it revolutionized the industry with the introduction of the first mini chip card reader, enabling businesses to accept card payments through smartphones and tablets. iZettle offers a range of products, including the iZettle Card Reader Lite and an application compatible with iOS and Android devices, which facilitate payment processing, business management, sales analytics, and customer engagement. The company serves a diverse clientele across several countries, including Sweden, Norway, Denmark, Finland, the United Kingdom, Germany, Spain, Mexico, the Netherlands, and Brazil. As of 2018, iZettle operates as a subsidiary of PayPal Holdings, Inc.

Boomlagoon

Series A in 2014
Boomlagoon is a mobile game development company based in Helsinki, Finland, known for its team of industry veterans from notable gaming companies such as Rovio, Remedy, and Housemarque. The company specializes in creating character-driven, free-to-play multiplayer games across various platforms. With a strong emphasis on diverse gameplay mechanics and engaging player experiences, Boomlagoon has garnered multiple Editor's Choice awards and has achieved global recognition for its innovative titles.

Footway

Series A in 2014
Footway is a Swedish-based online retailer specializing in shoes.

mCASH

Series A in 2014
mCASH is a Norwegian startup company that has developed a unique payment service. It's based on a new infrastructure connecting banks, merchants and consumers for instant smart mobile payments. mCASH increases revenue for banks, enables multi channel sales and data services for merchants while providing an award winning user experience.

Settle Group

Series A in 2014
Settle Group invented mobile payments in the Nordics, was awarded a patent for mobile payments in 2011 in Norway, and launched the first mobile payment service in Norway. After selling a license for its technology, and the client base of the Norwegian service to the leading Norwegian banks, which today run this as the national mobile payment standard adopted by 80% of the population, Settle Group internationalize its technology and formed the Settle network. Similar to the services known as Alipay, PayTM, Venmo, Zelle, etc. Settle enables people and companies to pay, get paid, manage their money, and grow their businesses using a mobile payment app. Settle Group is licensed to provide financial services in Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden, in accordance with its e-money license #108654 issued by the Norwegian Financial Supervisory Authorities.

Trustpilot

Series C in 2014
Trustpilot operates a global review platform that enables consumers to discover and share reviews of businesses across various categories. It facilitates direct engagement between consumers and companies, fostering trust and improvement in services. Established in 2007, Trustpilot has grown to employ over 700 people across offices in Copenhagen, London, New York, Denver, Berlin, Melbourne, and Vilnius.

Mojn

Secondary Market in 2014
Mojn Ltd. is a company based in Copenhagen, Denmark, that specializes in enhancing e-commerce communication through personalized email marketing. Founded in 2013, Mojn offers a platform that integrates with existing email service providers to deliver targeted email campaigns to specific user segments. Its technology allows e-commerce businesses to re-engage potential customers who have created accounts but have not completed purchases by sending tailored emails based on user profiles and viewed products. In December 2015, Mojn became a subsidiary of LiveIntent Inc., further expanding its capabilities in the realm of personalized marketing solutions.

Trustpilot

Series B in 2012
Trustpilot operates a global review platform that enables consumers to discover and share reviews of businesses across various categories. It facilitates direct engagement between consumers and companies, fostering trust and improvement in services. Established in 2007, Trustpilot has grown to employ over 700 people across offices in Copenhagen, London, New York, Denver, Berlin, Melbourne, and Vilnius.

iZettle

Series B in 2012
iZettle AB is a financial technology company based in Stockholm, Sweden, that specializes in mobile payment services and applications designed for small businesses and entrepreneurs. Founded in 2010, it revolutionized the industry with the introduction of the first mini chip card reader, enabling businesses to accept card payments through smartphones and tablets. iZettle offers a range of products, including the iZettle Card Reader Lite and an application compatible with iOS and Android devices, which facilitate payment processing, business management, sales analytics, and customer engagement. The company serves a diverse clientele across several countries, including Sweden, Norway, Denmark, Finland, the United Kingdom, Germany, Spain, Mexico, the Netherlands, and Brazil. As of 2018, iZettle operates as a subsidiary of PayPal Holdings, Inc.

Trustpilot

Series A in 2011
Trustpilot operates a global review platform that enables consumers to discover and share reviews of businesses across various categories. It facilitates direct engagement between consumers and companies, fostering trust and improvement in services. Established in 2007, Trustpilot has grown to employ over 700 people across offices in Copenhagen, London, New York, Denver, Berlin, Melbourne, and Vilnius.

Asetek

Venture Round in 2009
Asetek designs, develops and markets liquid cooling solutions for data centers, servers, workstations, gaming and high-performance PCs. Its patented all-in-one liquid cooling technology has more than 1.3 million units deployed. The company aims to reduce power use, greenhouse gas emissions and acoustic noise while delivering maximum performance for OEMs and channel partners globally; its cooling technologies are also available to DIY and enthusiast builders through Intel and other brands. Asetek operates across three segments: liquid cooling, data center and SimSports, with most revenue historically from liquid cooling; it serves international markets in Asia, Europe and the Americas. Headquartered in San Jose, California, it maintains offices in Denmark, China and Taiwan.

Innotech Solar

Venture Round in 2009
Innotech Solar delivers high quality solar modules with the best value for money. In an innovative laser-based process, Innotech Solar maximizes electricity production by optimizing various types of solar cells. ITS strives to make use of 100% of the raw materials for energy generation. Our modules combine environmental friendliness, durability, and an outstanding price-performance-ratio. Innotech Solar was established in 2008 as a spin-off from REC (Renewable Energy Corporation ASA). 5 years later the company has 120 employees and has established an international presence with factories in Germany, Sweden and Hong Kong, sales offices in Munich, Shanghai and California, and headquarter in Narvik, Norway.

Tobii

Series B in 2009
Tobii, established in 2001, is a Swedish technology company specializing in eye-tracking solutions. It offers hardware and software products that enable the detection of eye orientation, facilitating applications such as eye-controlled interfaces, design testing, and medical diagnostics. Tobii supplies these solutions directly and also provides platforms and components to original equipment manufacturers (OEMs) for integration into their products. The company operates through three business units: Tobii Dynavox (assistive communication technology), Tobii Pro (behavioral research solutions), and Tobii Tech (eye-tracking components and platforms). With a global presence, Tobii generates a significant portion of its revenue from the United States.

Innotech Solar

Series A in 2008
Innotech Solar delivers high quality solar modules with the best value for money. In an innovative laser-based process, Innotech Solar maximizes electricity production by optimizing various types of solar cells. ITS strives to make use of 100% of the raw materials for energy generation. Our modules combine environmental friendliness, durability, and an outstanding price-performance-ratio. Innotech Solar was established in 2008 as a spin-off from REC (Renewable Energy Corporation ASA). 5 years later the company has 120 employees and has established an international presence with factories in Germany, Sweden and Hong Kong, sales offices in Munich, Shanghai and California, and headquarter in Narvik, Norway.

Playdo

Venture Round in 2008
Playdo AB is a creative gaming studio based in Stockholm, Sweden, founded in 1999. The company specializes in developing online games for young players, focusing on social multiplayer experiences. Its flagship offering, Spineworld, is a massively multiplayer online game that emphasizes safety and security standards. Playdo's platform provides both 2D and 3D virtual world games, catering to a diverse audience while ensuring a secure gaming environment for users.

Wiral Internet Group

Series B in 2008
Wiral Internet Group AB develops and owns Web applications. It also owns PriceRunner, a price-comparison site; and TestFreaks, a consumer product review site, which aggregates and presents data on specific products from professional reviews, user reviews, video reviews, blogs, and forums. In addition, the company has ownership interest in Buzzador, a word-of-mouth marketing company. Wiral Internet Group AB was founded in 2006 and is based in Stockholm, Sweden.

Spotify

Series A in 2008
Spotify offers a digital music-streaming service, providing on-demand access to songs across various devices. It enables users to search and discover music collections, build playlists, share music via social networks, and receive personalized recommendations based on listening history.

Supponor

Series A in 2008
Supponor is a sports media and technology company that transforms traditional perimeter advertising in live sports broadcasts through its innovative DBRLive technology. By replacing physical advertisements with virtual, targeted digital content, Supponor ensures that viewers see pitch-side promotions relevant to their specific audiences. The company focuses on three main areas: managing the DBRLive platform, enhancing the value of sports rights holders' advertising inventory, and providing brands with targeted marketing opportunities in the sports sector. Headquartered in the UK, Supponor's operations teams collaborate with local partners at sporting events worldwide. Additionally, its research and development team in Espoo, Finland, continually refines the underlying technology to expand its capabilities and create added value for clients and partners. The company is privately held and backed by management, private investors, and venture capital funds.

Norstel

Venture Round in 2008
Norstel AB, established in 2005 and headquartered in Norrköping, Sweden, specializes in the research, development, and manufacturing of silicon carbide (SiC) substrates and epitaxial layers. These products, including conductive and semi-insulating SiC substrates, are designed for high-performance semiconductors used in power and high-frequency electronics. Norstel serves both domestic and international customers, operating as a subsidiary of STMicroelectronics N.V. since 2019.

GoHello

Venture Round in 2007
Speakanet A/S is the Award winning technology company behind GoHello. The company was founded in 2001 in Copenhagen, Denmark, by two Telecoms specialists who realised that the mobile telecommunications sector was both stagnant yet ready for massive disruption. The company is headquartered in Copenhagen, Denmark, with staff in London, UK and Prague, Czech Republic. The company was hailed best Start-up in Ernst & Young's prestigious Entrepreneur Of The Year (2005) competition.

ChapDrive

Venture Round in 2007
ChapDrive is a venture technology company located in Trondheim, Norway. ChapDrive offers a gearless technology for wind turbines based on a patented high efficiency hydraulic drivetrain with high-voltage synchronous generator. ChapDrive’s solution has no mechanical gearbox, no frequency converter, no transformer and no permanent magnets. Benefits are lower top weight, fewer critical components and improved reliability leading to reduced capital expenditure and operating expense and thus reduced cost of energy. ChapDrive has installed, optimized and operated two wind turbines with hydraulic transmission to verify the business potential of the concept. With a strong management team and a staff of 20 competent and dedicated employees ChapDrive is now entering the stage of the commercialization where it is ready to invite partners to finalize development of commercial products and offer the wind industry a unique solution to existing challenges. ChapDrive has its headquarter and workshop in Trondheim, Norway, a test site at Valsnes close to Trondheim, a subsidiary in Silkeborg, Denmark and a representation in Hong Kong, China.

T-VIPS

Series B in 2007
T-VIPS AS is a technology company based in Oslo, Norway, specializing in video transport solutions for the Internet Protocol (IP) transport markets. Founded in 2004, T-VIPS develops a comprehensive suite of products designed for live broadcast signal transport. Its offerings include video gateways, processing and multiplexing processors, monitoring and switching devices, and IPTV forward error correction inserters. The company also provides a web-based management solution for remote monitoring and control of contribution and distribution over IP networks. T-VIPS serves various applications, including broadcast contribution, studio-to-studio media exchange, primary distribution from TV play-out to transmitters, and live event coverage. Additionally, the company offers support services such as technical training, network planning, and integration services, catering to the needs of terrestrial networks, mobile TV, and IPTV. T-VIPS has a subsidiary in Greenwich, Connecticut, further extending its reach in the video transport industry.

Interse

Venture Round in 2007
Interse A/S is a software company that serves the consulting, legal, tax and auditing, life science and biotech, defense and high-tech, public sector, and investment banking industries. It offers iBox, which models and classifies metadata, as well as operates as metadata and free text search and navigation engine. The company's solutions include iBox enterprise search for free text, metadata, synonyms, hierarchies and relations in repositories; iBox SharePoint solution for enhancing collaboration and information re-use in SharePoint; and iBox enterprise classifier, an integrated metadata management and classification tool that provides metadata across enterprise-wide systems. Interse operates in Europe and North America. Interse A/S is based in Copenhagen, Denmark

Appear Networks

Series B in 2006
Appear Networks is an enterprise mobility software company based in Kista, Sweden, founded in 2001 by Xavier Aubry. The company specializes in providing tools for prototyping, developing, integrating, launching, and operating end-to-end mobile solutions. Its flagship product suite, Appear IQ, includes a mobile application development platform that manages the entire application lifecycle, from user management to deployment, troubleshooting, and reporting. The company also offers services such as consulting, training, app design, integration, and testing. Appear's products enable users to create enterprise app stores for employees, contractors, and business partners, as well as develop application ecosystems tailored to specific industries. Additionally, Appear Networks provides context-aware software infrastructure that enhances standard wireless data networks, facilitating the delivery of multimedia content to mobile users.

Asetek

Venture Round in 2005
Asetek designs, develops and markets liquid cooling solutions for data centers, servers, workstations, gaming and high-performance PCs. Its patented all-in-one liquid cooling technology has more than 1.3 million units deployed. The company aims to reduce power use, greenhouse gas emissions and acoustic noise while delivering maximum performance for OEMs and channel partners globally; its cooling technologies are also available to DIY and enthusiast builders through Intel and other brands. Asetek operates across three segments: liquid cooling, data center and SimSports, with most revenue historically from liquid cooling; it serves international markets in Asia, Europe and the Americas. Headquartered in San Jose, California, it maintains offices in Denmark, China and Taiwan.

The Qt Company

Series B in 2005
Qt Group Oyj is a software company headquartered in Espoo, Finland, that specializes in developing, productizing, and licensing software development tools under both commercial and open-source licenses. The company offers a robust framework of libraries and tools, known as Qt, which enables developers to create applications and user interfaces for desktop, embedded, and mobile platforms. Qt is widely utilized in various sectors, including consumer electronics, automotive, industrial automation, and healthcare, serving clients across over 70 industries globally. In addition to its development framework, Qt Group provides professional services such as consulting, training, and technical support, helping customers optimize their software solutions. With a presence in multiple countries, including Germany, the United States, Japan, and China, the company supports a large community of developers worldwide, enhancing the versatility and reach of its technology.

T-VIPS

Venture Round in 2005
T-VIPS AS is a technology company based in Oslo, Norway, specializing in video transport solutions for the Internet Protocol (IP) transport markets. Founded in 2004, T-VIPS develops a comprehensive suite of products designed for live broadcast signal transport. Its offerings include video gateways, processing and multiplexing processors, monitoring and switching devices, and IPTV forward error correction inserters. The company also provides a web-based management solution for remote monitoring and control of contribution and distribution over IP networks. T-VIPS serves various applications, including broadcast contribution, studio-to-studio media exchange, primary distribution from TV play-out to transmitters, and live event coverage. Additionally, the company offers support services such as technical training, network planning, and integration services, catering to the needs of terrestrial networks, mobile TV, and IPTV. T-VIPS has a subsidiary in Greenwich, Connecticut, further extending its reach in the video transport industry.

Norstel

Venture Round in 2005
Norstel AB, established in 2005 and headquartered in Norrköping, Sweden, specializes in the research, development, and manufacturing of silicon carbide (SiC) substrates and epitaxial layers. These products, including conductive and semi-insulating SiC substrates, are designed for high-performance semiconductors used in power and high-frequency electronics. Norstel serves both domestic and international customers, operating as a subsidiary of STMicroelectronics N.V. since 2019.

Funcom

Venture Round in 2004
Funcom is a video game development company based in Oslo, Norway, with additional offices in the United States, China, Switzerland, and Canada. The company specializes in creating and publishing massively multiplayer online games, including popular titles such as Age of Conan, Anarchy Online, and The Secret World. In addition to its online offerings, Funcom also develops offline games like The Park, Hide and Shriek, Dreamfall, and The Longest Journey. By providing a diverse range of gaming experiences across multiple platforms, Funcom aims to engage players with various genres and live gaming experiences.

NextGenTel

Venture Round in 2002
NextGenTel is a Norwegian telecommunications provider offering mobile and broadband services to businesses and consumers. It operates a nationwide IP-based broadband network, being the second largest supplier of broadband services in Norway.
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