A land of endless sunsets, northern lights and home to more than 50,000 islands and fjords, Norway has always been a paradise for nature lovers. But now, it is also becoming a paradise for technicians.
Norway is home to one of the most vibrant starter ecosystems in the Nordic countries. In the first half of 2018, the country raised $ 185.8 million in investments, a total increase of 76.3% compared to the first half of 2017. If you compare this to a 2.2% increase across the Nordic region, it is clear that the Norwegian technology scene is an explosive rhythm.
Young start-ups in Norway play a key role in the transition of the economy to a technology-driven future. With the full support of the government and the monarchy, the start-up scene for Norway should be on everyone's radar.
Choosing the hottest young people in Europe
In collaboration with the payment technology company Adyen, we started looking for the most promising new startups based on their performance, growth and potential. The top five in each country will join Tech5, a community of the most fashionable young technology companies in Europe and Israel. Newcomers this year will then join us at the exclusive conference Founders' Day (May 8) and TNW Conference (9-10 May) in Amsterdam.
Today, we highlight Norway. We conducted our research, consulted our advisory consortium of 100 investors, influencers, entrepreneurs and experts from across Europe and selected the five most recent Norwegian transformations.
Find out who Norway's most popular young viewers are:
Look no further, you have found your new (artificially) intelligent assistant! Boost.ai offers a conversational artificial intelligence developed especially for companies. It was founded in 2016 by brothers Lars and Hadle Selsås and Henry Vaage Iversen. Since then, they have raised more than $ 5 million and signed contracts with more than 90 major Scandinavian organizations, such as Nordea, Telenor, DNB, Telia and Santander Bank. Today, the company employs more than 70 ambitious technicians for the same purpose: to provide conversational artificial intelligence to large organizations, transforming their customer experience through chatting.
timely is a time tracking system based on AI and ML (machine learning) that allows employees to easily track the activity they are working on, creating instant and accurate time sheets. Currently, more than 4,300 companies use it in 160 countries. It was founded in 2013 by Mathias Mikkelsen and started until 2016, when he raised his first million dollars. The Timely team then appealed to two investors (SNÖ Ventures and 500 Startups) who helped them to take the next steps. In October 2018, they raised an additional $ 5 million in an investment round led by Concentric and Investinor, with the participation of existing investor SNÖ Ventures, with whom they plan to double their team, refine the intelligence model artificial and accelerate international growth.
If you want to know exactly what you pay to the shipping companies to send your freight around the world and how your rates compare to the market, Xeneta is the platform for you. Xeneta is the main index of price comparison for sea and air freight and shipping market surveillance. It aims to transform the maritime transport and logistics sector by making it more transparent. Xeneta's transportation index includes more than 85 million contracted fares and covers more than 160,000 global trade routes. So far, the company has been named Gartner's "2016 Startup of Norway 2016", Gartner's "Cool Supplier 2018" in Supply Chain Execution Technologies, and raised more than $ 20 million. Xeneta continues to grow exponentially with recent commercial expansions in the United States and Germany, which are among the largest global enterprise customers, such as Unilever, Lenovo, Nestle, Electrolux.
Kolonial.no uses technology to bring supermarkets to your door. Now, I know what you think, just another shop / supermarket app, but the team behind Kolonial.no have taken a big step forward in developing their own logistics system, both for picking and distributing grocery products to their customers. Their native and personalized application for iOS and Android allows you to buy recipes and races in no time. You can even choose a menu for the week and all your purchases will be easily made for you via the app. The average customer earns more than 60 hours a year while shopping online. Kolonial.no has already raised more than 70 million dollars, making it the most valuable start in Norway.
I'm pretty sure if Kahoot was there when I was in high school, I would have liked the class more. Oslo's online learning platform has made significant progress with its edtech platform, which is fun and customizable for all ages and all levels. They have even started using technology for business to help integrate employees and make training sessions much more fun and interactive. In October 2018, they not only received $ 15 million in Series B financing, they also managed to get an additional investment cycle from Disney. in December, bringing the overall value of the company to just over $ 375 million.
Is your startup looking for financing and new clients? Come to TNW 2019. Startup rates start at only 299 euros and come with a ton of benefits to help you grow.
By Jana Zane and Andrea Hak
This is part of a series of selection of the most prominent young technology companies in all of Europe. Every day we cover a new country. Discover the most popular young technology companies Belgium, la France, Spain, Portugal, Italy, The Netherlands, Ireland, Norway, Denmark, Sweden, Estonia, Finland, Poland, United Kingdom, Israel, Germany, Austria, Switzerland, Hungary and a combined selection of other European countries.
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