About Northislet
Northislet is a venture capital firm founded in 2017. It is primarily based out of Stockholm, Sweden. As of Oct 2024, Northislet has invested in 20 companies. It primarily invests in Seed round in Sweden based startups. Its investments are spread across a wide range of sectors from Life Sciences to High Tech and Enterprise Applications. Most recently it participated in the $***** Seed round of AAX Biotech Overall, Northislet portfolio has seen 5 IPOs and 1 acquisition including key companies like Saga Diagnostics, OssDsign and Spago Nanomedical. A lot of funds co-invest with Northislet, with names like Lauxera Capital Partners sharing a substantial percentage of its portfolio. Northislet has team of 2 people including 2 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Rounds of Entry
Seed & Series B
Portfolio Acquisitions
Portfolio Soonicorns
Northislet's List of Top Investments
Northislet has a portfolio of 20 companies. Their most notable investments are in AAX Biotech and Spotin.Their portfolio spans across Sweden, Malta, Norway and 1 more locations. They have invested in Life Sciences, High Tech, Enterprise Applications and 11 other sectors, across stages such as Seed, Series B stages. Here is the list of top investments by Northislet:Provider of tests for detection and analysis of circulating tumor DNA. It uses next-generation sequencing and proprietary algorithms to detect the presence of cell-free tumor DNA in the blood. The products include SAGAsafe, SAGAsign, and SAGAseq to detect mutations and to measure the therapeutic effect. In addition, the company also provides services for the analysis of gene and chromosomal mutations.
Key facts about Saga Diagnostics
- Founded Year: 2016
- Location: Morrisville (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2022
- Stage: Acquired
- Total Funding till date: $17.9M
- Employee Count: 80 as on Sep 30, 2026
- Investors: Hadean Ventures, EIC Fund and 11 Others
- Latest Funding Round: Series A, Jun 29, 2021, $*****
- Highlight: Acquired
2. OssDsign
Developer of regenerative 3D-printed orthopedic implants for craniofacial bone defects and trauma. Its implants incorporate a proprietary calcium phosphate-based material composition, reinforced by titanium, and CAD-based manufacturing and design. It uses 3D printing technologies to produce implants using materials like titanium combined with cured ceramic tiles. Its products have applications in the reconstruction of facial bone after trauma, tumor resection or growth retardation due to irradiation, and the repair of hereditary facial defects such as paranasal augmentation in cleft patients and correction of hemifacial microsomia.
Key facts about OssDsign
- Founded Year: 2011
- Location: Uppsala (Sweden)
- Stage: Public
- Total Funding till date: $19.7M
- Employee Count: 47 as on Sep 30, 2026
- Investors: SEB, Eiffel Investment Group and 10 Others
- Latest Funding Round: Post IPO, Jun 04, 2025, $*****
- Highlight: Public
3. BioLamina
BioLamina is a biotechnology company that manufactures full-length human recombinant laminins for primary and stem-cell culture applications. The company's product portfolio includes recombinant laminins as cell culture matrices for specific uses like pluripotent stem cell culture, early epithelial development and differentiation, and kits with multiple laminins for screening the most appropriate matrix for specific cell types.
Key facts about BioLamina
- Founded Year: 2008
- Location: Sundbyberg (Sweden)
- Stage: Series B
- Total Funding till date: $18.2M
- Employee Count: 116 as on Sep 30, 2026
- Investors: Bure Equity, European Investment Bank and 5 Others
- Latest Funding Round: Conventional Debt, Apr 17, 2026, $*****
- Highlight: Editors' Pick
4. Encare
Provider of web-based software platform for perioperative care to surgical clinics. The company's solution offers surgical clinics to implement and maintain Enhanced Recovery after Surgery (ERAS), a clinical care protocol to improve surgical care in perioperative care. It's software components include ERAS protocol for perioperative care, ERAS audit system for surgeries, ERAS implementation tool, and ERAS tool for comparisons of outcomes.
Key facts about Encare
- Founded Year: 2009
- Location: Stockholm (Sweden)
- Stage: Series A
- Total Funding till date: $4.88M
- Employee Count: 36 as on Aug 31, 2026
- Investors: Nolsterby Invest, Northislet and 2 Others
- Latest Funding Round: Series A, May 29, 2023, $*****
- Highlight: Editors' Pick
5. NEOGAP
Developer of radiopharmaceuticals for the treatment of cancer. The company has pTTL cell therapy product, which targets neoantigens by using proprietary PIOR and patented EpiTCer technologies, targeting neoantigens using immune cells from cancer patients as starting material.
Key facts about NEOGAP
Northislet's Year-on-Year Investment Trends
Northislet has invested in 20 companies over the last 5 years, with an average of 0 new investment annually in the last 5 years. Its most recent first time investment was in AAX Biotech.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 1 | 0 | 1 |
2022 | 0 | 0 | 0 |
2021 | 1 | 0 | 1 |
Northislet's Investments by Stage
Northislet has made 2 investments in Seed stage with an average round size of $1.25M and 1 investment in Series B stage with an average round size of $18.2M.Stage of entry | No. of Investments |
|---|---|
Seed | 2 |
Series B | 1 |
Note: We have considered here, only first round of investments
Northislet's Investments by Sector
Northislet has a diverse portfolio, with companies operating in the Life Sciences, Enterprise Applications, High Tech and Retail. Notably, it has invested in 19 Tech companies, 17 Enterprise (B2B) companies, 8 Software companies and at least 3 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Life Sciences | 2 |
Enterprise Applications | 1 |
High Tech | 1 |
Retail | 1 |
Note: We have considered here, only first round of investments
Northislet's Investments by Geography
Northislet has made most investments in Sweden (3).Northislet's recent investments
Northislet has not made any investment in 2026 so far.Here are the most recent investments by Northislet:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 02, 2024 | Sweden | Seed | 1338 | [+2] | |
Sep 12, 2023 | Sweden | Series B | 4394 | ||
Jun 09, 2021 | Sweden | Seed | 4793 | - |
IPOs and Publicly Listed companies in Northislet's Portfolio
5 of Northislet's portfolio companies have become public. OssDsign got listed on the Stockholm Stock Exchange (STO), in May 2019 and Intervacc got listed on the Nordic and Baltic regions (NASDAQ OMX).Here are Northislet's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 24, 2019 | - | - | 1050 | |
Apr 07, 2017 | - | - | 2491 | |
Nov 16, 2007 | - | - | 9373 | |
Dec 30, 2005 | - | - | 4093 | |
- | - | - | 7187 |
Acquired companies in Northislet's Portfolio
1 company from Northislet's portfolio has been acquired. The most recent acquisition was Saga Diagnostics in Apr 2026 by Foundation Medicine for $*****.Here are Northislet's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Apr 16, 2026 | - | - | 1094 |
Team profile of Northislet
Northislet has a team of 2 members including 2 Partners located in United Kingdom and Sweden. Northislet's team does not sit on the board of any company as of now.Co-investors of Northislet
Over the past 5 years, 8 investors have co-invested in Northislet's portfolio companies. This includes funds and angels.
- Invested before Northislet: Europa and HHS have invested in rounds before Northislet. There is 1 company where Europa has invested before Northislet and 1 company where HHS has invested before Northislet.
- Top Co-investors of Northislet: 5 investors entered a company along with Northislet. These include investors like Lauxera Capital Partners (1 company).
- Invested after Northislet: European Investment Bank (1 company) is the only investor which has invested in Northislet's portfolio after their investments.
Recent News related to Northislet
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AAX Biotech Secures Funding to Drive Technology Development and ExpansionCision•Oct 02, 2024•AAX Biotech, KI Holding, Northislet, Phase2Phase
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BioLamina Raises €17M in FundingFinSMEs•Sep 12, 2023•BioLamina, Lauxera Capital Partners, Bure Equity, Northislet
