# Norrsken Evolve: portfolio, investments and team

> Norrsken Evolve is a vc firm based in Sweden. 40 investments on record, 21 in the last 12 months, latest Oct 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/norrsken-evolve (Millionrounds; every figure on the page links to its filing or article)

Sweden · [Investor](https://millionrounds.com/investors)

# Norrsken Evolve

Last cheque observed Oct 2026; 40 cheques on record.

Deploying now VC firm

Pre-seed Energy Manufacturing Logistics

Deploying now

**81%** of best year **21** **cheques in 12 months**, 40 on record

Since the last cheque **14** days **00** hrs **00** min **00** sec

Median round **$1.9M** Rounds led **0 of 40** Sole investor **10 rounds** Mostly in **Sweden, 24%**

Pitch Norrsken Evolve

## Norrsken Evolve highlights

- 01 21 cheques in the last 12 months
- 02 Mostly Pre-seed and Seed: 85% of its rounds
- 03 Sole investor in 10 rounds, median $946K

## What they do

> Norrsken Evolve invests in founders and visionaries who will redefine how we generate energy, rebuild manufacturing, move goods, construct buildings, produce food, treat our sick, secure our information, protect democracy, and safeguard our societies from climate disruption. From their own website

- **Type:** VC firm
- **Cheque size:** Not stated
- **Stages:** Pre-seed
- **Sectors:** Energy Manufacturing Logistics
- **Based in:** Stockholm, Sweden
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **40 appearances**

- **2026** 17 rounds
- **Oct** **[Matter Machine](https://millionrounds.com/company/matter-machine)** Pre-seed · GB · Tech Funding News **$5.3M** With 5 others
- **Aug** **[Velatir](https://millionrounds.com/company/velatir)** Series A · DK · Spintop Ventures **$5.8M** With 5 others
- **Aug** **[Volve](https://millionrounds.com/company/volve)** Seed · NO **$3.0M** With 3 others
- **Aug** **[Solinide Photonics](https://millionrounds.com/company/solinide-photonics)** Seed · SE **$4.7M** With 2 others
- **Aug** **[Motion](https://millionrounds.com/company/motion)** Pre-seed · US **$2.0M** Sole investor
- **Jul** **[Furbnow](https://millionrounds.com/company/furbnow)** Seed · GB · Future Planet Capital Regional **$3.3M** With 6 others
- **Jul** **[InfiniNode Technologies AB](https://millionrounds.com/company/infininode-technologies-ab)** Seed · SE **$2.3M** With 3 others
- **Jun** **[New Dawn Bio](https://millionrounds.com/company/new-dawn-bio)** Pre-seed · NL **$2.4M** With 1 other
- **May** **[BeChained](https://millionrounds.com/company/bechained)** Grant · US **$180K** With 1 other
- **May** **[Tolemy Bio](https://millionrounds.com/company/tolemy-bio)** Pre-seed · GB **$1.6M** With 2 others
- **Apr** **[Bubble Robotics](https://millionrounds.com/company/bubble-robotics)** Pre-seed · US **$5.3M** With 1 other
- **Apr** **[Spiral Hydrogen](https://millionrounds.com/company/spiral-hydrogen)** Pre-seed · NL **$3.1M** With 3 others
- **Feb** **[Vesiro](https://millionrounds.com/company/vesiro)** Seed · SE **$1.9M** With 2 others
- **Feb** **[Berget AI](https://millionrounds.com/company/berget-ai)** Pre-seed · SE **$2.5M** With 1 other
- **Feb** **[Velatir](https://millionrounds.com/company/velatir)** Pre-seed · DK **$1.6M** With 1 other
- **Jan** **[TetraxAI](https://millionrounds.com/company/tetraxai)** Pre-seed · ES **$1.4M** With 2 others
- **Jan** **[Recupere Metals](https://millionrounds.com/company/recupere-metals)** Seed · FR **$5.9M** With 2 others
- **2025** 19 rounds
- **Dec** **[NobodyWho](https://millionrounds.com/company/nobodywho)** Pre-seed · DK **$2.4M** With 1 other
- **Dec** **[FION Energy](https://millionrounds.com/company/fion-energy)** Pre-seed · DE **$1.6M** Sole investor
- **Nov** **[DREV](https://millionrounds.com/company/drev)** Seed · SE **$500K** With 1 other
- **Nov** **[Furbnow](https://millionrounds.com/company/furbnow)** Pre-seed · GB **$270K** With 1 other
- **Oct** **[Startbutton](https://millionrounds.com/company/startbutton)** Seed · US **$100K** With 2 others
- **Sept** **[Rye](https://millionrounds.com/company/rye)** Pre-seed · US **$1.2M** With 1 other
- **Aug** **[Clafiya](https://millionrounds.com/company/clafiya)** Venture **Undisclosed** With 2 others
- **Aug** **[New Dawn Bio](https://millionrounds.com/company/new-dawn-bio)** Pre-seed · NL **$250K** Sole investor
- **Aug** **[Chainreactor](https://millionrounds.com/company/chainreactor)** Pre-seed · PT **$292K** Sole investor
- **Aug** **[aiomics](https://millionrounds.com/company/aiomics)** Pre-seed · DE **$2.3M** Sole investor
- **Aug** **[Bubble Robotics](https://millionrounds.com/company/bubble-robotics)** Pre-seed · US **$4.1M** Sole investor
- **Aug** **[Atmospheric AI](https://millionrounds.com/company/atmospheric-ai)** Pre-seed · GB **$292K** Sole investor
- **Aug** **[Jälle Technologies](https://millionrounds.com/company/jalle-technologies)** Pre-seed · EE **$250K** Sole investor
- **Aug** **[Super6](https://millionrounds.com/company/super6)** Pre-seed · CA **$250K** Sole investor
- **Jun** **[Chpter](https://millionrounds.com/company/chpter)** Venture **Undisclosed** With 1 other
- **Jun** **[Engrate](https://millionrounds.com/company/engrate)** Seed · SE **$2.9M** Sole investor
- **Mar** **[Aerleum](https://millionrounds.com/company/aerleum)** Venture · FR **Undisclosed** With 4 others
- **Feb** **[AI-BOB](https://millionrounds.com/company/ai-bob)** Seed · SE **$2.1M** With 1 other
- **Jan** **[Beans](https://millionrounds.com/company/beans)** Seed · FR **$1.5M** With 1 other
- **2024** 3 rounds
- **Dec** **[Billboxx](https://millionrounds.com/company/billboxx)** Pre-seed · NG · Disrupt Africa **$1.6M** With 5 others
- **Jun** **[PryvX](https://millionrounds.com/company/pryvx)** Pre-seed · SE **$125K** With 1 other
- **Jun** **[BrainZell](https://millionrounds.com/company/brainzell)** Seed · SE **$1.5M** With 2 others
- **2023** 1 round
- **Dec** **[Power Life Science](https://millionrounds.com/company/power-life-science)** Series A · US **$12M** With 7 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The cheque

Pre-seed

Median round joined **$1.9M** the round, not its cheque Alone, median **$946K**

Led 0 of 40 rounds **0%**

- **Sole investor:** 10 rounds
- **Last cheque:** Oct 2026

Rounds by stage said on their site

- Pre-seed said *22*
- Seed *12*
- Venture *3*
- Series A *2*
- Grant *1*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Norrsken VC](https://millionrounds.com/fund/norrsken-vc) 4
- [Almi Invest](https://millionrounds.com/fund/almi-invest) 3
- [Antler](https://millionrounds.com/fund/antler) 3
- [CapitalT](https://millionrounds.com/fund/capitalt) 3
- [Chalmers Ventures AB](https://millionrounds.com/fund/chalmers-ventures-ab) 3
- [PSV](https://millionrounds.com/fund/psv) 2

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## Who they invest alongside

The investors most often in the same rounds as Norrsken Evolve. A count of rooms they were both in, not a relationship either has claimed.

[**Norrsken VC** Accelerator **4** rounds together](https://millionrounds.com/fund/norrsken-vc)[**Almi Invest** VC firm **3** rounds together](https://millionrounds.com/fund/almi-invest)[**Antler** VC firm **3** rounds together](https://millionrounds.com/fund/antler)[**CapitalT** VC firm **3** rounds together](https://millionrounds.com/fund/capitalt)[**Chalmers Ventures AB** VC firm **3** rounds together](https://millionrounds.com/fund/chalmers-ventures-ab)[**PSV** Venture studio **2** rounds together](https://millionrounds.com/fund/psv)[**SFC Capital** Angel network **2** rounds together](https://millionrounds.com/fund/sfc-capital)[**Techstars** VC firm **2** rounds together](https://millionrounds.com/fund/techstars)

## Recently backed

The latest companies Norrsken Evolve put money into.

[**Velatir** $5.8M · Aug 2026](https://millionrounds.com/company/velatir)[**Volve** $3.0M · Aug 2026](https://millionrounds.com/company/volve)[**Furbnow** $3.3M · Jul 2026](https://millionrounds.com/company/furbnow)[**New Dawn Bio** $2.4M · Jun 2026](https://millionrounds.com/company/new-dawn-bio)[**BeChained** $180K · May 2026](https://millionrounds.com/company/bechained)[**Tolemy Bio** $1.6M · May 2026](https://millionrounds.com/company/tolemy-bio)

## On podcasts

1 episode naming Norrsken Evolve in the title.

- [EU-Startups Podcast](https://millionrounds.com/podcasts/eu-startups) 6 Nov 2025 · 24 min Episode 143: Rebecka Löthman Rydå: General Partner at Norrsken Evolve – Building Resilient And Sustainable Europe Mentions [Norrsken Evolve](https://millionrounds.com/fund/norrsken-evolve) Apple PodcastsShow page

## Quick answers about Norrsken Evolve

### What does Norrsken Evolve invest in?

Norrsken Evolve invests most often at Pre-seed and Seed (85% of the rounds on record), in sectors such as Energy, Manufacturing and Logistics.

### How active is Norrsken Evolve?

40 investments on record, 21 of them in the last 12 months. The most recent was in Oct 2026.

### What has Norrsken Evolve invested in recently?

Its most recent investments on record: Matter Machine (Pre-seed, Oct 2026), Velatir (Series A, Aug 2026) and Volve (Seed, Aug 2026).

### How big are Norrsken Evolve's cheques?

The median round it joins is $1.9M.

### Does Norrsken Evolve lead rounds?

Rarely, if at all: none of its 40 investments on record names it as the lead.

### Where does Norrsken Evolve invest?

Most of the companies it backs are in Sweden (24%), the United States (18%) and the United Kingdom (13%).

### Is Norrsken Evolve investing now?

Yes: it is actively investing, with 21 investments in the last 12 months.

### Who does Norrsken Evolve invest alongside?

Most often Norrsken VC (4 rounds together), Almi Invest (3 rounds together) and Antler (3 rounds together).

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