Norrsken Foundation has introduced Norrsken Evolve, a new €57 million pre-seed fund designed to support startups at the crossroads of impact, resilience, and scalability.
The fund targets early-stage entrepreneurs across Europe focused on sustainability, deeptech, and infrastructure essential for the continent’s long-term resilience.
This initiative is a natural progression from the Norrsken Accelerator, the foundation’s early-stage program started in 2021. Norrsken Evolve will provide €250,000 in initial capital, double the previous standard, while also allowing follow-on investments in top-performing companies.
The fund is led by General Partners Johan Attby, Alex Bakir, and Rebecka Löthman Rydå. Its limited partners (LPs) include prominent institutional backers such as Saminvest, the European Investment Fund, and SmartCap Green Fund (backed by the EU’s NextGenerationEU program), along with notable private investors including Taavet Hinrikus and Sten Tamkivi’s firm, Skaala.
The launch coincides with a period of macroeconomic uncertainty across Europe’s tech ecosystem. Despite a decline in VC investment, impact-focused funds, especially those at the pre-seed and seed stages, demonstrate resilience, driven by the EU’s green agenda and emphasis on deeptech and industrial sustainability.
“With Europe facing environmental, geopolitical, and financial challenges, many feel disheartened. Yet there is an emerging wave of pioneers…with groundbreaking solutions. We want to support these founders,” said Rebecka Löthman Rydå, General Partner at Norrsken Evolve.
The fund incorporates intensive, in-person “sprints” to assist early-stage founders in critical phases of product and company development. This hands-on approach is complemented by access to Norrsken’s broad network of mentors, operators, and investors.
“When we launched Norrsken Accelerator four years ago, our mission was clear: to build a pipeline of emerging impact-tech unicorns… We’ve proven the model works. Now, with the €57m Norrsken Evolve fund… we’re doubling down,” said Funda Sezgi, co-CEO of Norrsken Foundation and co-founder of the original Accelerator.
The fund plans to invest in 20–30 companies annually, with a thematic emphasis on renewable energy, healthtech, robotics, AI infrastructure, biotech, and advanced materials.
Norrsken Evolve’s initial ten portfolio companies, announced at the fund’s launch, reflect this broad focus:
- Aiomics – AI engine converting Europe’s medical documentation into actionable data
- Atmospheric AI – Platform making global supply chains transparent through physical-world AI
- Bubble Robotics – Underwater robotics for infrastructure, ecosystems, and climate resilience
- Chain Bioreactor – 3D-printed bioreactors for scalable biotech manufacturing
- FION Energy – Smart industrial battery storage to cut energy costs
- Humla – Wearable AI platform for hands-free clinical use
- Jälle Technologies – Battery waste