The Norwegian tech ecosystem has experienced significant growth and development in recent years, fueled by a combination of factors including government support, access to capital, a highly educated workforce, and a culture of innovation.
Supported by those different initiatives, as the ecosystem matures, Norwegian startups are increasingly making an impact both on the local economy and the global stage.
Today we bring you the list of 10 Norwegian startups you should have on your radar in 2024.
Visma
Visma is a leading provider of mission-critical software solutions in Europe, specializing in cloud-based business management software, automation, and consultancy services.
With a strong focus on streamlining processes and enhancing efficiency, Visma offers solutions tailored to various industries, including finance, accounting, HR, and logistics.
The company's innovative technologies empower businesses of all sizes to optimize their operations, improve decision-making, and drive growth.
Industry: Software
Amount raised in 2023: €3B
Axactor
Axactor is a European debt management company that specializes in acquiring and managing non-performing loans (NPLs) and distressed assets.
With operations across several European countries, Axactor offers comprehensive debt collection services, debt purchasing, and receivables management solutions to financial institutions, creditors, and other organizations.
Leveraging advanced analytics and technology, Axactor helps its clients optimize debt recovery processes and maximize the value of their portfolios. The company is known for its expertise in handling complex debt situations and it's commitment to delivering results for its stakeholders.
Industry: Fintech
Amount raised in 2023: €200M
Otovo
Otovo is a renewable energy company that focuses on making solar energy accessible and affordable for homeowners.
Based in Norway, Otovo offers end-to-end solutions for residential solar panel installations, including design, financing, installation, and maintenance.
The company utilizes innovative technology and streamlined processes to simplify the transition to solar power, enabling homeowners to reduce their electricity bills and contribute to a more sustainable future.
Industry: Cleantech
Amount raised in 2023: €160M
Freyr
Freyr is a renewable energy company based in Norway that specializes in the development and operation of solar and wind energy projects.
The company focuses on sustainability and innovation, and works to accelerate the transition to clean energy by providing reliable and cost-effective renewable energy solutions.
Through its efforts, Freyr aims to contribute to the reduction of greenhouse gas emissions and the promotion of a more sustainable energy future.
Industry: Cleantech
Amount raised in 2023: €100M
Scatec
Scatec is a global renewable energy company, specializing in the development, construction, and operation of solar, wind, and hydroelectric power plants.
The company focuses on delivering clean and affordable energy solutions to drive sustainable development and combat climate change. Their integrated approach covers the entire project lifecycle, from initial development and financing to construction and long-term operation.
Through partnerships and investments, Scatec works to expand renewable energy capacity worldwide, contributing to the transition towards a more sustainable and low-carbon energy system.
Industry: Energy
Amount raised in 2023: €96M
Kongsberg Digital
Kongsberg Digital is a leading provider of digital solutions for industries such as maritime, energy, and utilities.
The company specializes in developing advanced software and digital platforms that enhance efficiency, safety, and sustainability across various sectors.
Kongsberg Digital's offerings include simulation, automation, analytics, and cloud-based services, empowering organizations to optimize operations, reduce costs, and make data-driven decisions.
Industry: Software
Amount raised in 2023: €84M
Morrow Batteries
Morrow Batteries is a company dedicated to the development and production of sustainable and high-performance battery solutions.
With a focus on electric vehicles (EVs) and energy storage systems, Morrow Batteries aims to accelerate the transition to a carbon-neutral future by providing reliable and environmentally friendly energy storage solutions. The company is committed to advancing the capabilities and accessibility of electric mobility and renewable energy integration.
Industry: Energy
Amount raised in 2023: €70M
Wattif EV
Wattif EV is a company dedicated to accelerating the adoption of electric vehicles (EVs) through innovative charging solutions and technology integration.
The company specializes in developing smart charging infrastructure and software platforms that optimize EV charging processes for individuals, businesses, and municipalities.
By offering scalable and user-friendly solutions, Wattif EV aims to address the challenges of EV charging accessibility, efficiency, and grid integration, thus facilitating the widespread adoption of electric transportation and contributing to a cleaner and more sustainable future.
Industry: Transportation
Amount raised in 2023: €48.6M
Wastefront
Wastefront is a company focused on converting waste into valuable resources through advanced recycling technologies, specialising in converting end-of-life tires into high-quality products such as liquid hydrocarbons, carbon black, and steel.
The company aims to address environmental challenges associated with tire disposal while simultaneously creating sustainable solutions for the production of valuable materials.
Wastefront’s approach promotes circular economy principles by reducing waste, minimizing environmental impact, and contributing to the development of a more sustainable and resource-efficient future.
Industry: Cleantech
Amount raised in 2023: €38.5M
Hystar
Hystar is a company dedicated to advancing hydrogen technology and infrastructure for a sustainable future.
Based on its innovative electrolysis technology, Hystar focuses on producing green hydrogen, which is generated from renewable energy sources such as wind or solar power. This clean energy solution offers a promising alternative to fossil fuels, particularly in sectors such as transportation, industry, and energy storage.
By promoting the widespread adoption of green hydrogen, Hystar aims to contribute to the decarbonization of various sectors and mitigate the impacts of climate change.
Industry: Semiconductor
Amount raised in 2023: €24.2M
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