Stockholm-based Norrsken launches €57 million fund to support early-stage impact startups

Norrsken, an impact ecosystem that supports entrepreneurs working on solutions to global challenges, has launched Norrsken Evolve, a €57 million fund aimed at investing in early-stage, impact-driven companies across Europe. The new fund is a rebrand and expansion of Norrsken Accelerator, which since 2021 has supported 80 startups. Based in Stockholm, the organisation also runs hubs in Kigali, Barcelona and Brussels, and since its founding by Klarna co-founder Niklas Adalberth it has raised more than $700 million across several funds.

Norrsken Evolve is led by General Partners Johan Attby, Alex Bakir and Rebecka Löthman Rydå. The fund follows on from Norrsken Accelerator, which since 2021 has supported 80 startups. Each selected company will receive €250,000 in initial funding, twice the amount offered under the previous programme, with the possibility of follow-on investment. Alongside funding, startups will join in-person sprints designed to provide scale-up guidance from experienced founders, investors and operators.

Investors in the fund include Saminvest, the European Investment Fund, and SmartCap Green Fund, supported by the EU’s NextGenerationEU initiative. Other contributors include tech founders, family offices and Skaala, the investment firm of Taavet Hinrikus and Sten Tamkivi. Norrsken Evolve will also expand its activities to Kasvuhoone, a new tech hub in Tallinn, Estonia.

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 flourished, world-changing business.”

Since its launch, Norrsken Accelerator has offered a support model that includes an in-person programme with a Net Promoter Score (NPS) of 100. Norrsken Evolve aims to invest in 20 to 30 companies each year, with a focus on areas such as biotechnology, renewable energy, logistics, security and health technology.

Funda Sezgi, co-CEO of the Norrsken Foundation and co-founder of 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.”

The first portfolio companies have also been announced:

• Aiomics: AI backbone transforming Europe’s medical documentation into actionable intelligence.
• Atmospheric AI: AI for the material world, improving transparency in global supply chains.
• Bubble Robotics: Underwater robotic constellations for infrastructure, ecosystems and climate resilience.
• Chain Bioreactor: Affordable, scalable 3D-printed bioreactors.
• FION Energy: Smart industrial battery storage systems for maximum energy savings.
• Humla: Wearable AI platform enabling hands-free use of medical applications.
• Jälle Technologies: Upcycling battery waste into lithium and graphene-like materials.
• New Dawn Bio: Biotech enabling the production of wooden products thousands of times faster than natural growth.
• Super6: Supercapacitor technology for high-power, clean energy applications.
• TetraxAI: AI-powered platform for faster and less risky energy transition infrastructure development.

With this fund, Norrsken aims to increase support for founders working on sustainability and resilience in Europe.

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