About Norrsken Foundation
Norrsken Foundation is a venture capital firm founded in 2016. It is primarily based out of Stockholm, Sweden. As of Oct 2026, Norrsken Foundation is an active investor, having invested in 13 companies, with 1 new investment in the last 12 months. It primarily invests in Seed round in Sweden based startups. Its investments are spread across a wide range of sectors from Consumer to Enterprise Applications and High Tech. Most recently it participated in the $***** Seed round of Matter Machine Overall, Norrsken Foundation portfolio has seen 1 unicorn and 1 acquisition, namely ORDA and 1 COMMA 5°. A lot of funds co-invest with Norrsken Foundation, with names like Firstminute Capital sharing a substantial percentage of its portfolio. Norrsken Foundation has team of 38 people including 24 partners.Key Metrics
Team Members
Portfolio Sectors
Rounds of Entry
Seed, Series A & 1 more
Portfolio Acquisitions
Portfolio Unicorns
Deals in last 12 months
Norrsken Foundation's List of Top Investments
Norrsken Foundation has a portfolio of 13 companies, one of which is a Unicorn. Their most notable investments are in Agteria and Blykalla.Their portfolio spans across Sweden, Germany, Nigeria and 4 more locations. They have invested in Consumer, Enterprise Applications, High Tech and 15 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Norrsken Foundation:
1. Stitch
Provider of payment infrastructure for online and in-person transaction processing. This platform facilitates payment acceptance through gateways, point of sale terminals, and automated payout systems. It integrates with e-commerce applications to enable various payment methods and provides tools for transaction orchestration, reconciliation, and reporting. The system includes automated fraud detection mechanisms to evaluate transactions and manage payment operations across multiple channels.
Key facts about Stitch
- Founded Year: 2019
- Location: Cape Town (South Africa)
- Stage: Series B
- Total Funding till date: $109M
- Employee Count: 194 as on Sep 30, 2026
- Investors: Glynn Capital, QED Investors and 58 Others
- Latest Funding Round: Series B, Mar 25, 2025, $*****
- Highlight: Editors' Pick
2. ORDA
Provider of an online platform for restaurant management solutions. The platform offers point-of-sale, inventory management, business analytics, and others.
Key facts about ORDA
- Founded Year: 2020
- Location: Lagos (Nigeria)
- Stage: Acquired
- Total Funding till date: $4.5M
- Employee Count: 55 as on Aug 31, 2026
- Investors: Visa, FinTech Collective and 19 Others
- Latest Funding Round: Seed, Nov 07, 2024, $*****
- Highlight: Acquired
3. 1 COMMA 5°
Provider of integrated home energy systems. It offers solar panels, heat pumps, battery storage, and electric vehicle charging solutions. These components are interconnected and managed by artificial intelligence to optimize energy consumption and production, resulting in lower energy costs. The company also provides installation and maintenance services. A dynamic electricity tariff further reduces costs by leveraging times of low electricity prices.
Key facts about 1 COMMA 5°
- Founded Year: 2018
- Location: Hamburg (Germany)
- Annual Revenue: €10M - €50M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $687M
- Employee Count: 1,418 as on Sep 30, 2026
- Investors: BNP Paribas, G2 Venture Partners and 22 Others
- Latest Funding Round: Series C, Oct 12, 2026, $*****
- Highlight: Editors' Pick
4. Blykalla
Blykalla is a Swedish deep-tech startup that is developing and building small modular reactors to deliver clean, safe, and scalable base load power. They are at the forefront of technological innovation in the energy sector and are focused on industrializing leading research.
Key facts about Blykalla
- Founded Year: 2013
- Location: Stockholm (Sweden)
- Stage: Series C
- Total Funding till date: $73M
- Employee Count: 159 as on Sep 30, 2026
- Investors: Oxshott Capital, European Innovation Council and 14 Others
- Latest Funding Round: Series C, Dec 18, 2025, $*****
5. Cellcolabs
Key facts about Cellcolabs
- Founded Year: 2021
- Location: Solna (Sweden)
- Stage: Series A
- Total Funding till date: $37M
- Employee Count: 72 as on Aug 31, 2026
- Investors: Unruly Capital, Norrsken Foundation and 5 Others
- Latest Funding Round: Series A, Oct 26, 2025, $*****
Norrsken Foundation's Year-on-Year Investment Trends
Norrsken Foundation has invested in 13 companies over the last 8 years, with an average of 2 new investments annually in the last 5 years. As of Oct 2026, it has made 1 investment in this year. Its most recent first time investment was in Matter Machine and most recent follow-on round was in Blykalla.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 0 | 1 |
2025 | 0 | 0 | 0 |
2024 | 3 | 1 | 4 |
2023 | 2 | 0 | 2 |
2022 | 5 | 1 | 6 |
2021 | 1 | 1 | 2 |
2020 | 0 | 0 | 0 |
2019 | 0 | 1 | 1 |
2018 | 1 | 0 | 1 |
Norrsken Foundation's Investments by Stage
Norrsken Foundation has made 10 investments in Seed stage with an average round size of $3.36M, 2 investments in Series A stage with an average round size of $7.69M and 1 investment in Series C stage with an average round size of $156M.Stage of entry | No. of Investments |
|---|---|
Seed | 10 |
Series A | 2 |
Series C | 1 |
Note: We have considered here, only first round of investments
Norrsken Foundation's Investments by Sector
Norrsken Foundation has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, High Tech, Environment Tech and Food and Agriculture Tech. Notably, it has invested in 9 Tech companies, 5 Enterprise (B2B) companies, 5 Software companies and at least 3 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Consumer | 4 |
Enterprise Applications | 4 |
High Tech | 3 |
Environment Tech | 2 |
Food and Agriculture Tech | 2 |
Others | 18 |
Note: We have considered here, only first round of investments
Norrsken Foundation's Investments by Geography
Norrsken Foundation has made most investments in Sweden (5), followed by Germany where it has made 2 investments.Country | No. of Investments |
|---|---|
Sweden | 5 |
Germany | 2 |
Nigeria | 2 |
Rwanda | 1 |
South Africa | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Norrsken Foundation's recent investments
Norrsken Foundation has made 1 investments in 2026 so far - Matter Machine.Here are the most recent investments by Norrsken Foundation:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 12, 2026 | - | Seed | 9769 | [+4] | |
Dec 20, 2024 | Germany | Series C | 5994 | [+6] | |
Dec 11, 2024 | Nigeria | Seed | 3674 | [+2] | |
Apr 22, 2024 | Sweden | Series A | 9330 | [+2] | |
Mar 27, 2024 | Sweden | Seed | 5578 | - |
Unicorns in Norrsken Foundation's Portfolio
Norrsken Foundation has 1 unicorn in its portfolio - 1 COMMA 5°. The most recent unicorn in their portfolio is 1 COMMA 5° which became a unicorn in 2023, 1 years before Norrsken Foundation first invested in it.Here is a list of unicorns in Norrsken Foundation's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
58 | Provider of integrated home energy systems | 2018 | Hamburg | Series C | wchdjlc |
Acquired companies in Norrsken Foundation's Portfolio
1 company from Norrsken Foundation's portfolio has been acquired. The most recent acquisition was ORDA in Mar 2026 by Moniepoint for $*****.Here are Norrsken Foundation's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Mar 23, 2026 | Jan 18, 2022 | Seed | 4465 |
Team profile of Norrsken Foundation
Norrsken Foundation has a team of 38 members including 24 Partners and 1 Principal located in Sweden, Netherlands and 5 more locations. Norrsken Foundation's team sits on the board of 1 company.Here is a list of top team members in Norrsken Foundation:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Sweden | - | ||
Partner | - | - | ||
Partner | Stockholm | - | - | |
Partner | Barcelona | - | ||
Partner | Stockholm | - | ||
Partner | Sweden | |||
Partner | Kenya | - | ||
Partner | Stockholm | - | ||
Partner | Amsterdam | - | ||
Partner | Sweden | - |
Co-investors of Norrsken Foundation
Over the past 8 years, 141 investors have co-invested in Norrsken Foundation's portfolio companies. This includes funds and angels.
- Invested before Norrsken Foundation: Norrsken VC, Porsche Ventures and 18 others have invested in rounds before Norrsken Foundation. There are 2 companies where Norrsken VC has invested before Norrsken Foundation and 1 company where Porsche Ventures has invested before Norrsken Foundation.
- Top Co-investors of Norrsken Foundation: 66 investors entered a company along with Norrsken Foundation. These include investors like Firstminute Capital (2 companies).
- Invested after Norrsken Foundation: A total of 55 investors have invested in Norrsken Foundation's portfolio after their investments. Top Investors include Norrsken Launcher (2 companies), Ribbit Capital (1 company) and PayPal (1 company).
Recent News related to Norrsken Foundation
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Renasens secures €10M from Extantia and Norrsken Launcher for textile recycling pilot plant in EuropeTech Funding News•Mar 25, 2026•Renasens, Course Corrected, Extantia, Norrsken Foundation
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Barcelona-based Biorce closes €43.8 million Series A to accelerate AI-driven clinical trialsEU-Startups•Feb 02, 2026•Biorce, DST Global, Norrsken VC, YZR Capital and 6 others
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Terralayr raises €192 million for its German BESS flexibility platform.Energy-Storage•Jan 19, 2026•terralayr, Eurazeo, RIVE Private Investment, Osborne Clarke and 5 others
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Palantir alums using AI to streamline patent filing secure $20 million in Series A venture fundingDnyuz•Dec 17, 2025•Norrsken VC, Ankar, Atomico, Index Ventures and 8 others
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FION Energy secures €1.4 million pre-seed funding for KI-optimized battery systems, led by HTGF and Norrskenmajunke.com•Dec 10, 2025•Fion Energy, Norrsken Foundation, Housing Trust Group, Norrsken Evolve and 1 other
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EU-Startups Podcast | Episode 138: Rocío Alcocer Magirena, Managing Director of Norrsken BarcelonaEU-Startups•Oct 02, 2025•Norrsken Foundation
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Norrsken rebrands accelerator to Evolve; closes €57M pre-seed fundSilicon Canals•Aug 18, 2025•Norrsken Foundation
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Saminvest invests SEK 100 million in Norrsken Evolve, a new Swedish venture capital fund.Cision•Aug 18, 2025•Norrsken Foundation, Saminvest
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Sweden-based Flox Secures Nearly $1M In Seed FundingStartup Rise EU•Aug 07, 2025•Worldwildlife, Flox, Unusual Ventures, Boliden and 8 others
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Sunsave secures €130.5M to make solar affordable for UK homes with €0 upfront costSilicon Canals•Jul 21, 2025•IPGL, Sunsave, Credit Agricole CIB, Norrsken Foundation
