TRACXN MONTHLY REPORT
SEPTEMBER 2021
NORWAY TECH

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies 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
Acquisitions 8
Recent News 9

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Norway Tech Snapshot – September 2021
Norway Tech: Snapshot – September 2021
Note : "Investors" refers to "Institutional Investors" only
3
$53.0M
5
Overall Geo Stats
8
5
13
7
6
Funding Rounds $ Invested Analyst Picks
Oda!@#
New Investors
Aeternum Capital
NorgesGruppen
Series A+ rounds Active Investors IPOs Acquisitions
Oceanbolt#@
Moment#@
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Oslo
(5 Rounds, $50.5M)
Fornebu
(1 Rounds, $2.5M)
$30M - Series A
Neat (2019, Oslo, $41M)
$11.0M - Series B
Spond (2003, Oslo, $17.0M)
$9.6M - Series A
N2 Applied (2010, Oslo, $9.6M)
$2.5M - Seed
Unleash (2015, Fornebu, $2.5M)
GIC
(1 Investments)
Norges Bank Investment
Management
(1 Investments)
Zoom
(1 Investments)
Frontline Ventures
(1 Investments)
Consumer Electronics E-
Commerce
Neat
Sports Tech
Spond
Crop Tech
N2 Applied
DevOps
Unleash
Market Size
Companies Covered 2,352
Funded Companies 778
Total Funding $3.2B
Funding in last 12 months $1.3B
Top Exits
IPOs 30
Acquisitions 209
Company Stage
Unicorns 3
Soonicorns 5
Minicorns 57
Editor Picks 276
Series A+ 171
Series C+ 42
Acqui-Hires 2
Deadpooled 128
Top Cities
Oslo (283 Rounds, $2.1B)
Trondheim (55 Rounds, $113M)
Top Investors
Investinor (50 Investments)
StartupLab (35 Investments)

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of Norway Tech as of September 2021
Norway Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (September 2021)*
Neat
(2019, Oslo, $41.0M)
$30.0M - Series A Zoom
Spond
(2003, Oslo, $17.0M)
$11.0M - Series B Verdane
N2 Applied
(2010, Oslo, $9.6M)
$9.6M - Series A Blue River Invest
Unleash
(2015, Fornebu, $2.5M)
$2.5M - Seed Firstminute Capital
*Shows only the lead Investors

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds
List of Funding Rounds in Norway Tech in September 2021
Norway Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
PE
Inspera (1999, Oslo)
Web-based assessment platform for K-12 and higher
education
CGE Partners
LATE STAGE
Series D
Visma (1996, Oslo, $198.1M)
Cloud based enterprise resource planning software
Norges Bank Investment Management, Aeternum
Capital, Vind, GIC, Intermediate Capital Group
EARLY STAGE
$9.6M - Series A
N2 Applied (2010, Oslo, $9.6M)
Provider of technology to produce nitrogen fertilizers
NorgesGruppen, Blue River Invest, Holta Invest, Carl
Hansson
EARLY STAGE
$11.0M - Series B
Spond (2003, Oslo, $17.0M)
Provider of a social activities planning and discovery
platform
Verdane
EARLY STAGE
$30.0M - Series A
Neat (2019, Oslo, $41.0M)
Private label brand of audio & video systems
Zoom
SEED STAGE
$2.5M - Seed
Unleash (2015, Fornebu, $2.5M)
Cloud based feature management solutions provider
Firstminute Capital, Frontline Ventures, Marten
Mickos, Nicolas Dessaigne

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
New Investors
List of New Investors in Norway Tech in September 2021
Norway Tech: List of New Investors
6
Investor Company Info Round Amount Round Name
Aeternum Capital
1 portfolio companies | Real estate fund focused on value-added strategy
Visma
Cloud based enterprise resource planning software
Undisclosed Series D
NorgesGruppen
1 portfolio companies | NorgesGruppen
N2 Applied
Provider of technology to produce nitrogen fertilizers
$9.59M Series A
Firstminute Capital
58 portfolio companies | Micro venture capital firm focused on seed
investments
Unleash
Cloud based feature management solutions provider
$2.50M Seed
Norges Bank Investment Management
1 portfolio companies | Sovereign Wealth Fund of Norway
Visma
Cloud based enterprise resource planning software
Undisclosed Series D
Vind
1 portfolio companies | Infrastructure fund focused on shipping investments
Visma
Cloud based enterprise resource planning software
Undisclosed Series D
Blue River Invest
1 portfolio companies | Blue River Invest l Home
N2 Applied
Provider of technology to produce nitrogen fertilizers
$9.59M Series A
CGE Partners
4 portfolio companies | Private equity fund focused on multiple sectors
Inspera
Web-based assessment platform for K-12 and higher education
Undisclosed PE
Frontline Ventures
86 portfolio companies | European early stage venture capital firm
Unleash
Cloud based feature management solutions provider
$2.50M Seed

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies 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 -- Digital Twin Modelling Software $225M 2 Cognite | $150M | Series B
2 -- Oil and Gas Analytics Software $225M 2 Cognite | $150M | Series B
3 -- Construction Project Management Software $54.0M 1 Volue | $54.0M | Series C
4 -- Grid Management Solutions $54.0M 1 Volue | $54.0M | Series C
5 -- Sustainable Recirculating Aquaculture Systems $49.3M 2 Proximar Sea.. | $49.3M | Series C
6 -- Gamification Based Learning $26.0M 1 Attensi | $26.0M | Series B
7 -- Electric Car Subscriptions $22.3M 1 imove | $22.3M | Series A
8 -- Social Shopping Networks $18.0M 2 Tise | $11.0M | Series B
9 -- eSports Player Organizations $17.6M 1 Omaken Sports | $17.6M | Series B
10 -- Time Tracking $14.0M 1 Memory | $14.0M | Series B

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in Norway Tech in September 2021
Norway Tech: Acquisitions
8
Acq. Date Company Acquirer Deal Size
01 Sep 2021
Oceanbolt(2019, Oslo)
Provider of cloud-based software to provide marine tracking data
Veson Nautical
13 Sep 2021
Moment(2011, Oslo)
Cloud-based project management software provider
Monterro
24 Sep 2021
Prisguiden(1998, Oslo)
Online price tracking platform offering multi-category products
PriceRunner
30 Sep 2021
Oddsen.nu(2001)
Online platform offering soccer betting tips
B90 Holdings $5.1M
30 Sep 2021
Safran(1997, Stavanger)
Risk analysis software solutions provider
JDM Technology Group

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in Norway Tech in September 2021
Norway Tech:News
9
Exit News
.
● Signicat Acquires Electronic Signing Provider, Dokobit PR Newswire
.
● JDM Technology Group Acquires Risk Assessment and Project Management
Software Maker Safran PRWeb
.
● Ince supports longstanding client's expansion Insider Media
.
● Kahoot! Completes Acquisition Of Leading US K-12 EdTech Learning Platform
Clever AiThority
.
● Norwegian SaaS company Moment acquired by Monterro and expands abroad
Mynewsdesk
.
People News
.
● Avacta Hires Oncology Drug Developer As Therapeutics Cso Morningstar
.
● Nordic Nanovector Appoints Experienced Pharmaceutical Business Leader Erik
Skullerud as Chief Executive Officer PR Newswire

Norway Tech - September 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about Norway Tech on Tracxn Platform
Norway Tech: Explore more on Tracxn Platform
10
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 Oda
Competitors of Gelato
Cap Tables of Cognite
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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