Stockholm-based VC Norrsken Evolve has closed a €57 million pre-seed fund, offering €250,000 initial checks and long-term follow-on support to European startups driving sustainability and resilience.
- Founded in 2021 as an accelerator, Norrsken Evolve has since grown into a full-fledged VC fund. The fund targets startups transforming energy, manufacturing, logistics, construction, food, healthcare, information security, democracy, and climate resilience.
- Each year, it screens over 3,000 startups, invests in around 20, and maintains a highly selective acceptance rate below 0.7%.
- To date, Norrsken Evolve has supported 80 companies, with 75% going on to secure follow-on funding from top global investors. Its program focuses on mentorship, growth, and founder development.
- The fund provides €250,000 upfront per startup, long-term follow-on funding capacity, a world-class in-person sprint program, and access to an advisory network.
- The fund has already invested in 10 startups, including:
- Aiomics: Uses AI to turn Europe’s medical documentation into actionable intelligence.
- Atmospheric AI: Applies AI to the material world, making global supply chains transparent.
- Bubble Robotics: Develops underwater robotic constellations to support infrastructure, ecosystems, and climate resilience.
- Chain Bioreactor: Creates affordable, scalable 3D-printed bio-reactors.
- FION Energy: Provides smart industrial battery storage systems for maximum energy cost savings.
- Humla: Offers a wearable, embedded platform enabling hands-free AI use for medical practitioners.
- Jälle Technologies: Upcycles battery waste into lithium and graphene-like materials.
- New Dawn Bio: Uses biotech to grow final-form wooden products 10,000x faster than natural trees.
- Super6: Advances supercapacitor technology to enable high-power, clean energy applications.
- TetraxAI: AI-powered platform for faster and lower-risk energy transition infrastructure development.
- Norrsken Evolve is backed by Saminvest AB, the European Investment Fund, SmartCap Green Fund, Skaala, and several European tech founders and family offices.
"The next decade will be defined by how we adapt, transform, and evolve. With Norrsken Evolve, we want to make sure the right founders lead the way. Let’s evolve the future together," General Partner at Norrsken Evolve, Rebecka Löthman Rydå, commented.
