Norrsken Foundation, the Stockholm-based non-profit founded by Niklas Adalberth, has rebranded its accelerator as Norrsken Evolve and announced the first close of an oversubscribed €57 million pre-seed fund.
The fund is led by General Partners Johan Attby, Alex Bakir, and Rebecka Löthman Rydå, with LPs including the European Investment Fund (EIF), Saminvest, SmartCap Green Fund, and Skaala (the investment firm of Wise founder Taavet Hinrikus and Sten Tamkivi), alongside family offices and tech founders.
Launched in 2021, the accelerator has made 80 early-stage investments to date. With the rebrand, Norrsken Evolve will expand programming to Kasvuhoone in Tallinn, a new Nordic tech hub. The initiative follows the firm’s €300M commitment to “AI for good” investments earlier this year.
Backing founders from idea to impact
Norrsken Evolve will back 20–30 companies per year, offering €250K upfront funding and an in-person sprint program designed to accelerate scale-up. Founders will gain access to the global network of operators, investors, and impact leaders.
“With Europe in the midst of environmental, geopolitical and financial turmoil, many feel demoralised,” said Löthman Rydå. “But a rising wave of pioneers are tackling these challenges head-on with groundbreaking solutions. We want to champion them with the capital and support to evolve their ideas into world-changing businesses.”
The first cohort of portfolio companies includes:
- TetraxAI – AI platform for accelerating energy transition infrastructure
- Aiomics – AI transforming Europe’s medical documentation into actionable intelligence
- Atmospheric AI – supply chain transparency through AI for the material world
- Bubble Robotics – underwater robotic constellations for infrastructure and climate resilience
- Chain Bioreactor – scalable, 3D-printed bioreactors
- FION Energy – industrial battery storage for energy cost savings
- Humla – wearable AI platform for medical practitioners
- Jälle Technologies – upcycling battery waste into lithium and graphene-like materials
- New Dawn Bio – biotech growing wooden products 10,000x faster than trees
- Super6 – supercapacitor technology for high-power clean energy
Advertisement
Strengthening global impact ecosystem
Founded in 2016, the non-profit firm has built an international impact network with Norrsken House in Stockholm and Norrsken House Kigali, East Africa’s largest startup hub.
Funda Sezgi, co-CEO of Norrsken Foundation, said:
“When we launched the accelerator, the mission was clear: build a pipeline of impact-tech unicorns. With the €57M Norrsken Evolve fund and a world-class team, we’re doubling down – backing the most promising startups driving global resilience and sustainability.”
