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1. TRACXN MONTHLY REPORT
MAY 2021
NORWAY TECH

2. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
2
Norway Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 6
Top Funded Business Models - last 1 year 7
New Analyst Picks 8
Acquisitions 9
Recent News 10

3. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Norway Tech Snapshot – May 2021
Norway Tech: Snapshot – May 2021
Note : "Investors" refers to "Institutional Investors" only
3
$156M
2
Overall Geo Stats
2
4
4
6
3
Funding Rounds $ Invested Analyst Picks
Cognite Upgraded
to UNICORN
New Investors
TCV
EQT Ventures
Series A+ rounds Active Investors IPOs Acquisitions
StormGeo#@
Redox#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Lysaker
(1 Rounds, $150M)
Oslo
(1 Rounds, $6.1M)
Trondheim
(1 Rounds, $6.1M)
$150M - Series B
Cognite (2016, Lysaker, $225M)
$6.1M - Seed
Vev (2017, Oslo, $6.6M)
- Series A
APIM Therapeutics (2009, Trondheim,
$3.6M)
Skyfall Ventures
(1 Investments)
TCV
(1 Investments)
Sagene Tech Ventures
(1 Investments)
EQT Ventures
(1 Investments)
Digital Twin
Cognite
Manufacturing Tech
Oil & Gas Tech
Tech for Digital Publishers
Vev
Market Size
Companies Covered 2,229
Funded Companies 782
Total Funding $3.1B
Funding in last 12 months $1.3B
Top Exits
IPOs 36
Acquisitions 220
Company Stage
Unicorns 1
Soonicorns 8
Minicorns 51
Editor Picks 252
Series A+ 178
Series C+ 49
Acqui-Hires -
Deadpooled 136
Top Cities
Oslo (282 Rounds, $2.0B)
Trondheim (54 Rounds, $110M)
Top Investors
Investinor (52 Investments)
StartupLab (36 Investments)

4. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Norway Tech as of May 2021
Norway Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (May 2021)*
Cognite
(2016, Lysaker, $225M)
$150M - Series B TCV
Vev
(2017, Oslo, $6.6M)
$6.1M - Seed EQT Ventures
*Shows only the lead Investors

5. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Norway Tech in May 2021
Norway Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
EARLY STAGE
$150.0M - Series B
Cognite (2016, Lysaker, $225.0M)
Provider of AI-based production data analysis software
TCV
EARLY STAGE
Series A
APIM Therapeutics (2009, Trondheim, $3.6M)
Develops anti-cancer therapies potentiating
chemotherapy induced responses in cancer cells
SEED STAGE
$6.1M - Seed
Vev (2017, Oslo, $6.6M)
SaaS-driven interactive content creation platform
EQT Ventures, Skyfall Ventures, Sagene Tech Ventures

6. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Investors
List of New Investors in Norway Tech in May 2021
Norway Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
TCV
180 portfolio companies | Tech-companies focused private equity investment
firm
Cognite
Provider of AI-based production data analysis software
$150M Series B
EQT Ventures
100 portfolio companies | Tech focused stage agnostic VC firm investing
primarily in Europe
Vev
SaaS-driven interactive content creation platform
$6.11M Seed

7. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
7
Rank Business Model $ Funding # Rounds Top Funding Round
1 -- Oil and Gas Analytics Software $225M 2 Cognite | $150M | Series B
2 -- Construction Project Management Software $54.0M 1 Volue | $54.0M | Series C
3 -- Grid Management Solutions $54.0M 1 Volue | $54.0M | Series C
4 -- Sustainable Recirculating Aquaculture Systems $49.3M 2 Proximar Sea.. | $49.3M | Series C
5 -- Gamification Based Learning $26.0M 1 Attensi | $26.0M | Series B
6 ▲3 Valvular Disorder Treatment Devices $18.5M 1 CardioMech | $18.5M | Series A
7 -- eSports Player Organizations $17.6M 1 Omaken Sports | $17.6M | Series B
8 -- Autoimmune Disorders Drugs $13.2M 1 Arxx Therapeutics | $13.2M | Seed
9 -- Portfolio Management Solution for Wealth Managers $12.6M 2 Exabel | $9.0M | Seed
10 -- Video Conferencing Software $12.0M 1 Whereby | $12.0M | Series A

8. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
New Analyst Picks
Interesting Companies identified by Analysts in Norway Tech in May 2021
Norway Tech: Analyst Picks
8
Upgraded to UNICORN
Cognite (2016, Lysaker, $75.0M, Series A)
Provider of AI-based production data analysis software
TCV,Acceland
Added to Editor's Pick
Mer (2020, Kristiansand, Unfunded)
Operator of electric vehicle charging stations
Added to Editor's Pick
Think Outside (2017, Bergen, Undisclosed, Series A)
Provider of a ground-penetrating radar-based imaging
solution for various industries
Farmhouse Capital, Butterfly Ventures, GoHub and 3
other Investors
Added to Editor's Pick
Serca Pharmaceuticals (2018, Lysaker, Unfunded)
Developer of a drug for myocardial infarction and heart
failure
Sarsia Seedand
Added to Editor's Pick
Adonis (2020, Etne, Unfunded)
Cloud-based HR and payroll management solution for
enterprises
Added to Editor's Pick
Verified (2012, Oslo, Unfunded)
Electronic signing and authentication solutions

9. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Acquisitions
List of Acquisitions in Norway Tech in May 2021
Norway Tech: Acquisitions
9
Acq. Date Company Acquirer Deal Size
10 May 2021
StormGeo(1997, Bergen)
Provider of decision support for weather sensitive operations
Alfa Laval $435.3M
12 May 2021
Redox(2004, Averoey)
Provider of of disinfection solutions to the fishing and aquaculture
industry
Bluefront Equity $18.1M
21 May 2021
Landax(1990, Hamar)
Quality Management Health compliance
ornsoftware.com $11.4M
26 May 2021
Ryde Technology(2019, Oslo)
App-based electric scooter sharing platform
Equip Capital

10. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Recent News (1/2)
Recent News in Norway Tech in May 2021
Norway Tech:News
10
Exit News
.
● Kahoot picks up Clever for $500m in latest acquisition Silicon Republic
.
● EQT Private Equity to sell StormGeo to Alfa Laval EQT
.
● Elopak aims for IPO in June DairyReporter
.
● DNB Bank ASA: extension of the acceptance period for the recommended
voluntary offer from DNB Bank ASA for the... GlobeNewswire
.
● Bluefront Equity acquires Norwegian firm Redox Unquote
.
● Alfa Laval further supports marine industry’s decarbonization efforts with the
acquisition of StormGeo europawire.eu
.
● Ørn acquires Landax, adding NOK 21 million of ARR and 540 new customers
mfn.se
.
● LINK Mobility is going global PR Newswire
.
People News
.
● Norwegian biometrics company Zwipe launches in the MENA region ITP
● Tove Anderson to succeed Stefan Ranstrand as Tomra Systems president and
CEO foodbev.com
.
● IDEX Biometrics Announces New Chief Commercial Officer FindBiometrics
.
● IDEX Biometrics Appoints Catharina Eklof as Chief Commercial Officer
GlobeNewswire

11. Norway Tech - May 2021 Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Explore more on Tracxn
Explore more about Norway Tech on Tracxn Platform
Norway Tech: Explore more on Tracxn Platform
11
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Norway
AI Companies in Norway
Fintech Companies Norway
Consumer Digital in Norway
Company Due Diligence
Detailed profile of Cognite
Competitors of
Cap Tables of
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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