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1. TRACXN TOP BUSINESS MODELS REPORT
March 03, 2022
NORWAY TECH

2. Norway Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
NorwayNorway Tech Funding Overview 3
Top Funded Business Models 4
One Pagers 8
Appendix 39
2

3. Norway Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Funding in last 1 year
3
Logistics Tech $277M
Oil & Gas Tech $150M
Energy Storage Tech $131M
Cryptocurrencies $77.4M
Sensors $44.7M
HRTech $40.7M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Skyfall Ventures
Frontline Ventures
Sarsia Seed
2
1
1
Early
Stage
Investinor
Coatue
Verdane
3
2
2
Late
Stage
SoftBank Vision Fund
Insight Partners
Creandum
2
1
1
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Oda
(2013, Oslo)
$265M - Series C
Gelato
(2007, Oslo)
$240M - Series D
Cognite
(2016, Lysaker)
$150M - Series B
EnergyNest
(2011, Asker)
$131M - Series D
Dune Analytics
(2018, Oslo)
$69.4M - Series B
Novelda
(2004, Oslo)
$44.7M - Series D
Neat
(2019, Oslo)
$30.0M - Series A
Xeneta
(2012, Oslo)
$28.5M - Series C
Attensi
(2012, Oslo)
$26.0M - Series B
imove
(2018, Bergen)
$22.3M - Series A
Cytovation
(2001, Bergen)
$20.0M - Series A
Memory
(2013, Oslo)
$14.0M - Series B
Oslo (69%)
Lysaker (13%)
Asker (11%)
Bergen (4%)
Trondheim (1%)
Others (2%)

4. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (1/4)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1<> 0 Digital Twin Modelling Software $150M 2 Cognite | $150M | Series B Link
2<> 0 Oil and Gas Analytics Software $150M 2 Cognite | $150M | Series B Link
3▲5 Human Presence Detection Sensors $44.7M 1 Novelda | $44.7M | Series D Link
4-- Gamification Based Learning $26.0M 1 Attensi | $26.0M | Series B Link
5-- Electric Car Subscriptions $22.3M 1 imove | $22.3M | Series A Link
6▲4 Drugs for Multiple Cancer Types $20.0M 1 Cytovation | $20.0M | Series A Link
7-- Aesthetic Medicines $20.0M 1 Cytovation | $20.0M | Series A Link
8-- Project Time Tracking Software $14.0M 1 Memory | $14.0M | Series B Link
9-- Autoimmune Disorders Drugs $13.2M 1 Arxx Therapeutics | $13.2M | Seed Link
10-- Secure Communication $12.0M 1 Whereby | $12.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (2/4)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11-- Video Conferencing $12.0M 1 Whereby | $12.0M | Series A Link
12-- Video Conferencing $12.0M 1 Whereby | $12.0M | Series A Link
13▲1 Social Shopping Networks $11.0M 1 Tise | $11.0M | Series B Link
14-- Sports Team Management Software $11.0M 1 Spond | $11.0M | Series B Link
15-- Cross Device Ad Network $9.0M 1 Cavai | $9.0M | Series A Link
16▼11 Sustainable Recirculating Aquaculture Systems $7.5M 1 AquaCon | $7.5M | Series A Link
17▲5 Music Artist Software Suite $6.4M 1 Nomono | $6.4M | Seed Link
18-- Website Builders $6.1M 1 Vev | $6.1M | Seed Link
19-- White Label Content Publishing Apps $6.1M 1 Vev | $6.1M | Seed Link
20-- Website Builder $6.1M 1 Vev | $6.1M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (3/4)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲9 Construction Field Collaboration Software $3.5M 1 Bygr | $3.5M | Series A Link
22-- Supercomputers $3.4M 1 Iagon | $3.4M | Seed Link
23-- White Label Wallet Solutions $3.0M 1 MeaWallet | $3.0M | Seed Link
24▲10 Life Sciences Research Services $2.7M 1 Vectron Bioso.. | $2.7M | Series A Link
25-- B2B Farm Produce Marketplaces $2.3M 1 Dagens | $2.3M | Seed Link
26-- B2B Farm Produce Marketplace $2.3M 1 Dagens | $2.3M | Seed Link
27▲17 Energy Demand Response Management Solutions $2.2M 1 Enode | $2.2M | Seed Link
28▲11 BIM Authoring Software $1.9M 2 laiout | $1.2M | Seed Link
29-- Protein Microfluidics Instruments $1.2M 1 ClexBio | $1.2M | Seed Link
30-- Microbial Genomics $1.2M 1 Bio-Me | $1.2M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (4/4)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Arrhythmia Diagnostic Tests $172K 1 Cardinor | $172K | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (2/4)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
11-- Video Conferencing $12.0M 1 Whereby | $12.0M | Series A Link
12-- Video Conferencing $12.0M 1 Whereby | $12.0M | Series A Link
13▲1 Social Shopping Networks $11.0M 1 Tise | $11.0M | Series B Link
14-- Sports Team Management Software $11.0M 1 Spond | $11.0M | Series B Link
15-- Cross Device Ad Network $9.0M 1 Cavai | $9.0M | Series A Link
16▼11 Sustainable Recirculating Aquaculture Systems $7.5M 1 AquaCon | $7.5M | Series A Link
17▲5 Music Artist Software Suite $6.4M 1 Nomono | $6.4M | Seed Link
18-- Website Builders $6.1M 1 Vev | $6.1M | Seed Link
19-- White Label Content Publishing Apps $6.1M 1 Vev | $6.1M | Seed Link
20-- Website Builder $6.1M 1 Vev | $6.1M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (3/4)
9
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲9 Construction Field Collaboration Software $3.5M 1 Bygr | $3.5M | Series A Link
22-- Supercomputers $3.4M 1 Iagon | $3.4M | Seed Link
23-- White Label Wallet Solutions $3.0M 1 MeaWallet | $3.0M | Seed Link
24▲10 Life Sciences Research Services $2.7M 1 Vectron Bioso.. | $2.7M | Series A Link
25-- B2B Farm Produce Marketplaces $2.3M 1 Dagens | $2.3M | Seed Link
26-- B2B Farm Produce Marketplace $2.3M 1 Dagens | $2.3M | Seed Link
27▲17 Energy Demand Response Management Solutions $2.2M 1 Enode | $2.2M | Seed Link
28▲11 BIM Authoring Software $1.9M 2 laiout | $1.2M | Seed Link
29-- Protein Microfluidics Instruments $1.2M 1 ClexBio | $1.2M | Seed Link
30-- Microbial Genomics $1.2M 1 Bio-Me | $1.2M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

10. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (4/4)
10
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Arrhythmia Diagnostic Tests $172K 1 Cardinor | $172K | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (2/4)
11
Rank Business Model $ Funding # Rounds Top Funding Round Details
11-- Video Conferencing $12.0M 1 Whereby | $12.0M | Series A Link
12-- Video Conferencing $12.0M 1 Whereby | $12.0M | Series A Link
13▲1 Social Shopping Networks $11.0M 1 Tise | $11.0M | Series B Link
14-- Sports Team Management Software $11.0M 1 Spond | $11.0M | Series B Link
15-- Cross Device Ad Network $9.0M 1 Cavai | $9.0M | Series A Link
16▼11 Sustainable Recirculating Aquaculture Systems $7.5M 1 AquaCon | $7.5M | Series A Link
17▲5 Music Artist Software Suite $6.4M 1 Nomono | $6.4M | Seed Link
18-- Website Builders $6.1M 1 Vev | $6.1M | Seed Link
19-- White Label Content Publishing Apps $6.1M 1 Vev | $6.1M | Seed Link
20-- Website Builder $6.1M 1 Vev | $6.1M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (3/4)
12
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▲9 Construction Field Collaboration Software $3.5M 1 Bygr | $3.5M | Series A Link
22-- Supercomputers $3.4M 1 Iagon | $3.4M | Seed Link
23-- White Label Wallet Solutions $3.0M 1 MeaWallet | $3.0M | Seed Link
24▲10 Life Sciences Research Services $2.7M 1 Vectron Bioso.. | $2.7M | Series A Link
25-- B2B Farm Produce Marketplaces $2.3M 1 Dagens | $2.3M | Seed Link
26-- B2B Farm Produce Marketplace $2.3M 1 Dagens | $2.3M | Seed Link
27▲17 Energy Demand Response Management Solutions $2.2M 1 Enode | $2.2M | Seed Link
28▲11 BIM Authoring Software $1.9M 2 laiout | $1.2M | Seed Link
29-- Protein Microfluidics Instruments $1.2M 1 ClexBio | $1.2M | Seed Link
30-- Microbial Genomics $1.2M 1 Bio-Me | $1.2M | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Norway Tech - Top Funded Business Models - last 1 year (4/4)
13
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Arrhythmia Diagnostic Tests $172K 1 Cardinor | $172K | Seed Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Cognite (2016, Lysaker)
$150M - Series B - May 2021
Cognite (2016, Lysaker)
Undisclosed - Series B - Feb 2022
Digital Twin Modelling Software -
Norway
01
14
Back to index
Digital Twin (Aker Solutions)
(# Cos: 15 | $227M)
Development Tools (Cevia Digital)
(# Cos: 2 | $225M)
Modelling (Cognite)
(# Cos: 2 | $225M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$150M (▲100%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$225M
1
-
2
1
Cognite
(2016, Lysaker, $225M)
Cevia Digital
(2020, Asker)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

15. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Cognite (2016, Lysaker)
$150M - Series B - May 2021
Cognite (2016, Lysaker)
Undisclosed - Series B - Feb 2022
Oil and Gas Analytics Software - Norway
02
15
Back to index
Oil & Gas Tech (Aker Solutions)
(# Cos: 109 | $376M)
Tech for Vertically Integrated Players
(Prediktor)
(# Cos: 8 | $230M)
Analytics (Cognite)
(# Cos: 2 | $225M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$150M (▲100%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$225M
1
-
2
1
Cognite
(2016, Lysaker, $225M)
C2FTX
(2016, Langhus)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Human Presence Detection Sensors -
Norway
03
16
Back to index
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$44.7M (▲277%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$83.6M
1
-
1
1
Sensors (IDEX)
(# Cos: 32 | $140M)
Industry Applications (Disruptive Technologies)
(# Cos: 13 | $92.7M)
Smart Infrastructure (ComLight)
(# Cos: 2 | $83.6M)
Human Presence Detection
(Novelda)
(# Cos: 1 | $83.6M)
Novelda
(2004, Oslo, $83.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Novelda (2004, Oslo)
$44.7M - Series D - Dec 2021

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Attensi (2012, Oslo)
$26.0M - Series B - Apr 2021
Gamification Based Learning - Norway
04
17
Back to index
HRTech (Questback)
(# Cos: 97 | $159M)
LMS (Attensi)
(# Cos: 12 | $103M)
Gamification Based (Kahoot)
(# Cos: 2 | $99.6M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$26.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$99.6M
2
1
2
1
Kahoot
(2012, Oslo, $67.3M)
Attensi
(2012, Oslo, $32.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Electric Car Subscriptions - Norway
05
18
Back to index
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$22.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$22.3M
1
-
1
1
Electric Vehicles (Think Global)
(# Cos: 56 | $174M)
Vehicle as a Service (Zvipp)
(# Cos: 15 | $24.9M)
Cars (Move About)
(# Cos: 3 | $24.9M)
Subscription (imove)
(# Cos: 1 | $22.3M)
imove
(2018, Bergen, $22.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
imove (2018, Bergen)
$22.3M - Series A - Jul 2021

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Cytovation (2001, Bergen)
$20.0M - Series A - Jan 2022
Drugs for Multiple Cancer Types -
Norway
06
19
Back to index
Oncology (BerGenBio)
(# Cos: 28 | $247M)
Drugs (Nordic Nanovector)
(# Cos: 20 | $247M)
Diversified (Targovax)
(# Cos: 15 | $161M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$20.0M (▲137%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$161M
12
4
15
2
Targovax
(2010, Lysaker, $5.8M)
BerGenBio
(2007, Bergen, $74.1M)
Cytovation
(2001, Bergen, $23.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Cytovation (2001, Bergen)
$20.0M - Series A - Jan 2022
Aesthetic Medicines - Norway
07
20
Back to index
Dermatology (Arctic Bioscience)
(# Cos: 5 | $23.6M)
Drugs (Coegin Pharma)
(# Cos: 3 | $23.6M)
Aesthetics (Cytovation)
(# Cos: 1 | $23.6M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$20.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$23.6M
1
-
1
0
Cytovation
(2001, Bergen, $23.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Memory (2013, Oslo)
$14.0M - Series B - Jun 2021
Project Time Tracking Software -
Norway
08
21
Back to index
Product Management Tools (Safran)
(# Cos: 19 | $26.0M)
Product Development (Timely)
(# Cos: 17 | $26.0M)
Time Tracking (Memory)
(# Cos: 6 | $26.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$14.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$26.0M
3
-
6
1
Memory
(2013, Oslo, $20.0M)
Timely
(2013, Oslo, $6.0M)
Busy
(2017, Fornebu)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

22. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Arxx Therapeutics (2019, Oslo)
$13.2M - Seed - Mar 2021
Autoimmune Disorders Drugs - Norway
09
22
Back to index
Immunology (Genetic Analysis)
(# Cos: 4 | $13.2M)
Drugs (Coegin Pharma)
(# Cos: 2 | $13.2M)
Autoimmune Diseases (Arxx
Therapeutics)
(# Cos: 1 | $13.2M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$13.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$13.2M
1
-
1
1
Arxx Therapeutics
(2019, Oslo, $13.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Whereby (2013, Maloy)
$12.0M - Series A - Mar 2021
Secure Communication - Norway
10
23
Back to index
Cybersecurity (Signicat)
(# Cos: 47 | $51.3M)
Data Security (Whereby)
(# Cos: 12 | $12.0M)
Secure Communication (Pexip)
(# Cos: 7 | $12.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$12.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$12.0M
4
-
7
1
Pexip
(2012, Lysaker)
Whereby
(2013, Maloy, $12.0M)
Videxio
(2010, Lysaker)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Whereby (2013, Maloy)
$12.0M - Series A - Mar 2021
Video Conferencing - Norway
11
24
Back to index
Enterprise Video (Whereby)
(# Cos: 4 | $42.0M)
Video Communication (Huddly)
(# Cos: 4 | $42.0M)
Video Conferencing (Pexip)
(# Cos: 4 | $42.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$12.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$42.0M
3
-
4
2
Pexip
(2012, Lysaker)
Huddly
(2013, Oslo, $30.0M)
Whereby
(2013, Maloy, $12.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Video Conferencing - Norway
12
25
Back to index
Meeting (Vrex)
(# Cos: 2 | $12.0M)
Video Conferencing (Whereby)
(# Cos: 1 | $12.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$12.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$12.0M
1
-
1
1
Whereby
(2013, Maloy, $12.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Whereby (2013, Maloy)
$12.0M - Series A - Mar 2021

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Social Shopping Networks - Norway
13
26
Back to index
Social Commerce (Aiutrix)
(# Cos: 2 | $25.0M)
Social Network for Shopping (Tise)
(# Cos: 1 | $25.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$11.0M (▲57.1%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$25.0M
1
-
1
1
Tise
(2014, Oslo, $25.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tise (2014, Oslo)
$11.0M - Series B - Jul 2021

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Spond (2003, Oslo)
$11.0M - Series B - Sep 2021
Sports Team Management Software -
Norway
14
27
Back to index
Sports Tech (TriEye)
(# Cos: 57 | $40.4M)
Sports IT (RankedIn)
(# Cos: 15 | $17.0M)
Team Management (Spond)
(# Cos: 7 | $17.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$11.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$17.0M
1
-
7
1
Spond
(2003, Oslo, $17.0M)
ITeasmSport
(2012, Lillesand)
Rubic
(2014, Hamar)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Cavai (2018, Oslo)
$9.0M - Series A - Aug 2021
Cross Device Ad Network - Norway
15
28
Back to index
AdTech (Cxense)
(# Cos: 21 | $12.0M)
Ad Network (ThumbAD)
(# Cos: 6 | $9.6M)
Cross-Device (Cavai)
(# Cos: 5 | $9.0M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$9.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$9.0M
2
-
5
1
Cavai
(2018, Oslo, $9.0M)
Webtraffic
(2009, Oslo)
PlugRush
(2007, Bergen)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
AquaCon (1996, Oslo)
$7.5M - Series A - Oct 2021
Sustainable Recirculating Aquaculture
Systems - Norway
16
29
Back to index
Aquaculture Tech (Stingray)
(# Cos: 59 | $66.3M)
Sustainable Farming (Proximar Seafood)
(# Cos: 8 | $56.9M)
Recirculating Aquaculture Systems
(RAS) (AquaCon)
(# Cos: 7 | $56.9M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$7.5M (▼84.7%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$56.9M
4
-
7
1
AquaCon
(1996, Oslo, $7.5M)
Proximar Seafood
(2015, Bergen, $49.3M)
Nordic Aquafarms
(2013, Fredrikstad)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Nomono (2019, Trondheim)
$6.4M - Seed - Aug 2021
Music Artist Software Suite - Norway
17
30
Back to index
Music Tech (beat.no)
(# Cos: 25 | $15.9M)
Music Artist IT (Soundrop)
(# Cos: 11 | $15.6M)
Diversified (Nomono)
(# Cos: 1 | $9.2M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$6.4M (▲127%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$9.2M
1
-
1
0
Nomono
(2019, Trondheim, $9.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Website Builders - Norway
18
31
Back to index
Application Development Tools (Neptune Software)
(# Cos: 19 | $18.5M)
Website Builders (Vev)
(# Cos: 3 | $6.6M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$6.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.6M
1
-
3
1
Vev
(2017, Oslo, $6.6M)
TENRIX Dynify
(2010, Notteroy)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Vev (2017, Oslo)
$6.1M - Seed - May 2021

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
White Label Content Publishing Apps -
Norway
19
32
Back to index
Tech for Digital Publishers (Linkpulse)
(# Cos: 9 | $6.6M)
White Label Mobile App (Vev)
(# Cos: 1 | $6.6M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$6.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.6M
1
-
1
1
Vev
(2017, Oslo, $6.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Vev (2017, Oslo)
$6.1M - Seed - May 2021

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Website Builder - Norway
20
33
Back to index
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$6.1M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$6.6M
1
1
5
1
MarketingTech (Confirmit)
(# Cos: 75 | $30.2M)
Marketing Optimization (Solid Media Group)
(# Cos: 10 | $6.6M)
Conversion Rate Optimization
(TargetEveryOne)
(# Cos: 9 | $6.6M)
Website Builder (Vev)
(# Cos: 5 | $6.6M)
Vev
(2017, Oslo, $6.6M)
TargetEveryOne
(2009, Oslo)
Beard & Fedora
(2015, Land)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Vev (2017, Oslo)
$6.1M - Seed - May 2021

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Construction Field Collaboration
Software - Norway
21
34
Back to index
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$3.5M (▲221%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.6M
2
-
4
1
Construction Tech (Imerso)
(# Cos: 59 | $99.2M)
Project Management (Volue)
(# Cos: 29 | $71.0M)
Field Management (Checkd)
(# Cos: 11 | $4.6M)
Collaboration (Streambim)
(# Cos: 4 | $4.6M)
Suite (Bygr)
(# Cos: 4 | $4.6M)
Bygr
(2018, Bergen, $4.6M)
Streambim
(2012, Lysaker)
Fonn
(2016, Fonnes)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bygr (2018, Bergen)
$3.5M - Series A - Apr 2021

35. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Supercomputers - Norway
22
35
Back to index
High Performance Computing (Fabriscale)
(# Cos: 2 | $3.4M)
Supercomputers (Iagon)
(# Cos: 1 | $3.4M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$3.4M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.4M
1
-
1
1
Iagon
(2017, Hamar, $3.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Iagon (2017, Hamar)
$3.4M - Seed - Jun 2021

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
MeaWallet (2013, Sandvika)
$3.0M - Seed - Apr 2021
White Label Wallet Solutions - Norway
23
36
Back to index
Payments (Settle)
(# Cos: 34 | $69.2M)
Enablers (Zwipe)
(# Cos: 9 | $49.9M)
Wallets (MeaWallet)
(# Cos: 1 | $5.2M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$3.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$5.2M
1
-
1
0
MeaWallet
(2013, Sandvika, $5.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Vectron Biosoluti.. (2008, Trondheim)
$2.7M - Series A - Jun 2021
Life Sciences Research Services - Norway
24
37
Back to index
Life Sciences Platforms and Tools (ClexBio)
(# Cos: 31 | $11.5M)
Research Services (Biosergen)
(# Cos: 20 | $3.6M)
Diversified (Age Labs)
(# Cos: 16 | $3.6M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$2.7M (▲208%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$3.6M
7
-
16
0
Age Labs
(2017, Oslo, $876K)
Biosergen
(2004, Trondheim)
Vectron Biosolutions
(2008, Trondheim, $2.7M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplaces -
Norway
25
38
Back to index
B2B E-Commerce (TradingFoe)
(# Cos: 18 | $2.3M)
Marketplace (Dagens)
(# Cos: 1 | $2.3M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$2.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
1
-
1
0
Dagens
(2020, Oslo, $2.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dagens (2020, Oslo)
$2.3M - Seed - Mar 2021

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplace -
Norway
26
39
Back to index
Online Grocery (Oda)
(# Cos: 17 | $329M)
Marketplace (Dagens)
(# Cos: 1 | $2.3M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$2.3M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
1
-
1
0
Dagens
(2020, Oslo, $2.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Dagens (2020, Oslo)
$2.3M - Seed - Mar 2021

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Enode (2020, Oslo)
$2.2M - Seed - Jul 2021
Energy Demand Response Management
Solutions - Norway
27
40
Back to index
Smart Grid (eSmart Systems)
(# Cos: 18 | $100M)
Utility Management (Greenbird)
(# Cos: 8 | $13.1M)
Demand Response Management
(Enode)
(# Cos: 2 | $2.3M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$2.2M (▲1635%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$2.3M
1
-
2
0
Enode
(2020, Oslo, $2.3M)
Exarge
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
BIM Authoring Software - Norway
28
41
Back to index
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$1.9M (▲400%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$2.2M
3
-
7
0
Construction Tech (Volue)
(# Cos: 59 | $99.2M)
Design Tools (CoBuilder)
(# Cos: 17 | $27.2M)
BIM and 3D Modelling (Spacemaker)
(# Cos: 16 | $27.2M)
Authoring (Novapoint)
(# Cos: 7 | $2.2M)
Novapoint
(1988, Sandvika)
Parallelo
(2019, Oslo, $1.0M)
laiout
(2021, Oslo, $1.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
laiout (2021, Oslo)
$1.2M - Seed - Jan 2022
Parallelo (2019, Oslo)
$650K - Seed - Oct 2021

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
ClexBio (2020, Oslo)
$1.2M - Seed - Jul 2021
Protein Microfluidics Instruments -
Norway
29
42
Back to index
Life Sciences Platforms and Tools (Age Labs)
(# Cos: 31 | $11.5M)
Instruments (Genovision)
(# Cos: 6 | $8.0M)
Protein Microfluidics (ClexBio)
(# Cos: 1 | $1.2M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$1.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2M
1
-
1
0
ClexBio
(2020, Oslo, $1.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Bio-Me (2016, Oslo)
$1.2M - Seed - Jul 2021
Microbial Genomics - Norway
30
43
Back to index
Genomics (Genetic Analysis)
(# Cos: 18 | $2.0M)
Applied Genomics (Age Labs)
(# Cos: 12 | $2.0M)
Microbial Genomics (Bio-Me)
(# Cos: 1 | $1.2M)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$1.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.2M
1
-
1
0
Bio-Me
(2016, Oslo, $1.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
Recent Funding Rounds
Cardinor (2015, Oslo)
$172K - Seed - Mar 2021
Arrhythmia Diagnostic Tests - Norway
31
44
Back to index
Cardiac and Vascular Disorders (CardioMech)
(# Cos: 15 | $26.9M)
In-Vitro Diagnostics (Medistim)
(# Cos: 2 | $922K)
Arrhythmia (Cardinor)
(# Cos: 1 | $922K)
Taxonomy
$ Invested in last 1 year in Norway
Tech
Key Stats
# Funding Rounds in last 1 year in
Norway Tech
$172K ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$922K
1
-
1
0
Cardinor
(2015, Oslo, $922K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Norway Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Norway Tech - Top Business Models Report
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