This prominent non-profit foundation from Sweden announces an oversubscribed first close and rebrands as a part of its evolution since 2020.

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Stockholm-based Norrsken Foundation, a non-profit foundation focused on solving the world’s greatest challenges, has rebranded its accelerator to Norrsken Evolve.

Additionally, the firm announced that it has completed an oversubscribed first close of a €57M pre-seed fund led by General Partners Johan Attby, Alex Bakir, and Rebecka Löthman Rydå.

The LPs include Saminvest, the European Investment Fund, and SmartCap Green Fund (funded by the EU’s NextGenerationEU), alongside leading tech founders and family offices.

Skaala, the investment firm of Taavet Hinrikus and Sten Tamkivi, has joined as an LP.

Norrsken Evolve will expand programming to Kasvuhoone (the new Nordic hub for tech in Tallinn, Estonia).

The announcement comes over a month after committing €300M to invest in European startups using “AI for good.”

Next chapter of Norrsken Accelerator

Norrsken Evolve is the next step of Norrsken Accelerator, active since 2021 with 80 investments to date.

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 scale-up guidance from Norrsken’s seasoned team and network of world-leading founders, investors and operators.

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 flourishing, world-changing business.”

The first portfolio companies announced today include: 

  • Aiomics: Transforming Europe’s medical documentation into actionable intelligence through AI
  • Atmospheric AI:  Utilising AI for the material world, making global supply chains transparent
  • Bubble Robotics: Underwater robotic constellations powering infrastructure, ecosystems, and climate resilience
  • Chain Bioreactor: Working on an affordable and scalable 3D-printed bioreactor
  • FION Energy: Developing 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: Working on battery waste upcycled into lithium and graphene-like materials
  • New Dawn Bio: Bio-tech growing final form wooden products, 10,000x faster than with trees.
  • Super6: Developing supercapacitor technology to unlock high-power, clean energy use
  • TetraxAI: An AI-powered platform for faster and less risky energy transition infrastructure development

Norrsken Evolve: Solving the world’s greatest challenges

Founded in 2016 by Niklas Adalberth, Norrsken Evolve aims to solve some of the world’s most pressing challenges. 

It has created a global impact ecosystem where founders can find the knowledge, capital, and network they need to make saving the world their business.

The foundation runs Norrsken House in Sweden and Norrsken House in Kigali, East Africa’s largest hub for startups. 

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 €57M 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.”