Norrsken Evolve launches 57-million-euro fund to support European impact technology startups
18 August 2025
The Norrsken Foundation has launched a new pre-seed investment fund, Norrsken Evolve, with a total size of 57 million euros. The fund focuses on startups operating “at the intersection of impact, resilience, and scalability”.
Fond keskendub tulevikutehnoloogiatele
Norrsken Evolve invests in early-stage founders across Europe who are developing solutions in sustainability, deep tech, and infrastructure that are critical to Europe’s long-term resilience. The fund focuses on renewable energy, health tech, robotics, AI infrastructure, biotechnology, and next-generation materials – sectors that venture capital often avoids due to their long development cycles.
“At a time when Europe is in the midst of environmental, geopolitical, and financial turmoil, many feel demotivated. But a new wave of pioneers with groundbreaking solutions is emerging. We want to support these founders,” said Rebecka Löthman Rydå, Managing Partner at Norrsken Evolve.
The fund offers more initial capital
The new initiative is a natural evolution of the Norrsken Accelerator program, which the fund launched in 2021. Norrsken Evolve now provides initial capital of 250 000 euros, twice the standard offer of the previous accelerator program. In addition, the fund can make follow-on investments in the best-performing companies.
The fund is managed by general partners Johan Attby, Alex Bakir, and Rebecka Löthman Rydå. Its limited partners (LPs) include high-profile institutional backers such as Saminvest, the European Investment Fund, and the SmartCap Green Fund (backed by the EU's NextGenerationEU programme), as well as notable private investors, including Taavet Hinrikus and Sten Tamkivi's company Skaala.
Intensive “sprints” to support founders
The fund is structured around intensive, personalized “sprints” designed to support early-stage founders during the most critical phases of product and company development. This hands-on approach is combined with access to Norrsken’s extensive network of mentors, operators, and investors.
“Kui käivitasime Norrsken Acceleratori neli aastat tagasi, oli meie missioon selge: luua tulevaste mõjutehnoloogia ükssarvikute torustik… Oleme tõestanud, et mudel töötab. Nüüd, 57 miljoni euro suuruse Norrsken Evolve fondiga… me kahekordistame panust,” ütles Funda Sezgi, Norrsken Foundationi kaasasutaja ja algse kiirendiprogrammi kaasasutaja.
Esimesed portfelliettevõtted juba valitud
The fund invests in 20–30 companies per year. Norrsken Evolve’s first ten portfolio companies, unveiled alongside the fund’s debut, reflect its broad thematic focus:
•Aiomics – an AI engine that turns European medical documentation into a usable dataset
•Atmospheric AI – a platform that makes global supply chains transparent using physical-world AI
•Bubble Robotics – underwater robotics for infrastructure, ecosystems, and climate resilience
•Chain Bioreactor – 3D-printed bioreactors for scalable biotech production
•FION Energy – nutikas tööstuslik akusalvestus energiakulude vähendamiseks
•Humla – kantav tehisintellekti platvorm käed-vabad kliiniliseks kasutamiseks
•Jälle Technologies – a battery waste recycling startup
•New Dawn Bio – kasvatab puidu alternatiivmaterjale 10 000 korda kiiremini kui puud
•Super6 – high-power supercapacitor technology for clean energy applications
The fund is also expanding its operations to Tallinn, Estonia, where it will operate at Kasvuhoone, a recently launched technology hub that is expected to become a center for Nordic innovation.
This new investment fund arrives at a time when Europe's technology ecosystem is grappling with broader macroeconomic uncertainty. Although venture capital investment across the continent has declined in recent quarters, impact-focused funds—particularly at the pre-seed and seed stages—have shown relative resilience, supported by the EU's green agenda and strategic emphasis on deep tech and industrial sustainability.
Uus Vaade OÜ — we give your home a fresh and clean look
250.00€
Ida-Viru maakond, Eesti
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
