Norrsken Evolve has raised
a €57 million fund to invest in early-stage, impact-driven companies across Europe. The new fund is a rebrand and expansion of Norrsken Accelerator, which has supported 80 startups since 2021.
Institutional investors in the fund include
SmartCap Green Fund, supported by the EU's NextGenerationEU initiative, Saminvest, and the European Investment Fund. Other contributors include tech founders, family offices, and Skaala. Norrsken Evolve will also expand its activities to Kasvuhoone, a new tech hub in Tallinn, Estonia.
“Norrsken Evolve supports our mission of strengthening the ecosystem for early-stage green technology companies in Estonia and across the region,” said
Smartcap’s CEO Sille Pettai. “We are especially pleased that Norrsken Evolve is expanding to Estonia, and among the first investments in their portfolio there is
Jälle Technologies – an Estonian deeptech startup that is building novel battery recycling solutions with global growth potential.”
Spearheaded by partners Rebecka Löthman Rydå, Johan Attby, and Alex Bakir, Norrsken Evolve invests in European founders and visionaries who are working on sustainability and resilience in Europe.
Norrsken Evolve aims to invest in 20 to 30 companies annually, with a focus on areas such as biotechnology, renewable energy, logistics, security, and health technology.Rebecka Löthman Rydå, General Partner at Norrsken Evolve, says: "With Europe in the midst of environmental, geopolitical, 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 flourishing, world-changing business."
For more information, read
Smartcap's blog.