We invest in Nordic founders with global ambitions

We believe that the most successful companies of our time will be the ones solving real problems. The entrepreneurs that improve the way we live in a scalable way, will create long term profit as well as increase environmental and social sustainability.

We invest in exceptional early-stage tech companies founded by entrepreneurs with global ambitions. We believe that investing in a founder is a mutual partnership, and we know that building great and valuable companies takes time.

We are a Nordic venture capital firm run by experienced venture capitalists, operators and founders that helped create billion-dollar companies.

The latest

23 August 2024

ShiftX sold to Ardoq

Ardoq has acquired ShiftX, representing a full exit for Alliance VC after first investing in 2020.

See ShiftX blog post and Shifter article for more information.

11 July 2024

Medal has raised $13M at $333M valuation

Medal is using the new funds to invest in Highlight, a newly unveiled cross-platform desktop app that acts as a contextual AI assistant for users, and new AI capabilities for the core game video platform.

See the founder announcement on X and Techcrunch article.

4 July 2024

Alliance leads Versiro's seed round

Versiro, a startup providing real-time multi-market decision support for electrical power assets, just announced its €2.3M seed round led by Alliance VC with participation from Johannes Teyssen, Sondo Capital, angels and existing investors. We are thrilled to back the founders and company on the mission to enable flexibility and help integrate renewables into the grid.

See coverage by Tech Funding NewsEU-StartupsStartup Rise EUArcticStartupHandelsblatt (🇩🇪) and Shifter (🇳🇴), as well as our Medium article.

3 July 2024

Steep raises €4M seed round


Steep, makers of a modern analytics platform, has raised a €4 million seed round from Connect Ventures, Inventure, Alliance VC, Greens, and Antler.

See company announcement and articles in Tech.eu and Breakit (🇸🇪).

15 February 2024

Alliance leads investment in Ciloo

Ciloo, a software company with Dutch and Norwegian roots, has closed its first funding round led by Alliance VC, joined by quality angels, to fuel its mission to transform internal eCommerce for global enterprises. By facilitating a shift from centralized mass production to local and on-demand production on its platform, Ciloo is set to redefine how companies manage internal eCommerce, promising substantial reductions in carbon emissions, enhanced brand control, and lower costs.

See company announcement and Shifter article.

14 February 2024

AlexisHR has been acquired by Simployer

AlexisHR has announced that it is joining forces with the Simployer Group. This move is about alignment of mission and the ability to serve customers even better with the combined HR innovation and expertise.

See company announcement and articles from Breakit, Shifter and Finansavisen.

18 January 2024

Alliance VC invests in Hemi Health

Hemi Health, a pioneering digital healthcare company dedicated to making a meaningful impact on the lives of millions by addressing the pressing issue of headaches and migraine, has raised a €2.1M pre-seed round from Crowberry Capital, Alliance VC, Sondo Capital Sequoia Scout and Founders. The announcement comes as Hemi launched in Denmark.

See Shifter article (🇳🇴).

11 January 2024

1X has raised a $100M Series B

The AI and robotics company, producing androids to benefit society and meet the world’s labor demand, has raised a $100M Series B. The new capital will be utilized to bring to market 1X’s second generation android, NEO, a bipedal humanoid built for the consumer market.

See company announcement and TechCrunch, Sifted and Finansavisen articles.

12 September 2023

Mjuk has raised a €2.5M equity round

Mjuk has raised €2.5M to continue to build their furniture re-commerce marketplace that helps furniture brands minimize waste and consumers find the best prices. Alliance VC participated in an investor syndicate including Trind VC, Superhero Capital, Lifeline Ventures and angel investors.

See articles from EU-Startups, ArcticStartup and Tech Funding News.

6 September 2023

Stine Mølgaard Sørensen joins Alliance VC as partner

Stine Mølgaard Sørensen, a Danish entrepreneur and angel investor, is joining Alliance VC as partner. Stine is based in Copenhagen, Denmark, and was co-founder and COO of the health-tech startup Radiobotics. With Stine on board Alliance VC will be better positioned to serve the Danish startup ecosystem and have a footprint in four of the five Nordic countries.

See Medium story.

16 August 2023

Alliance co-leads €1M round in Deckmatch

Deckmatch raised a €1M pre-seed round for the mission to improve the investment process for both investors and founders using AI. Alliance co-led the round with Skyfall Ventures and a great group of international angels joined the syndicate.

See articles by TechCrunchTech Funding News and Shifter (🇳🇴,$) for more details.

27 April 2023

Bits Technology has raised €4M seed round

Bits Technology announced a €4M seed round that will help the company further its mission of reshaping how future fintech products are built. The round was led by Unusual Ventures. Fin Capital also participated with investors from the fall's pre-seed round, Alliance VC, Cherry Ventures, Forward VC and Greens Ventures.

See company blog and articles from Di Digital (🇸🇪) and Tech.eu.

24 March 2023

Alliance joins $23.5M round in X1 led by OpenAI

1X, a company producing androids capable of human-like movements and behaviors, has raised a $23.5M round led by Sam Altman / OpenAI and Tiger Global with a syndicate including Alliance, Sandwater, Skagerak Capital and a strong set of angels.


Check out our blog, 1X blog, Tech.eu, Shifter (🇳🇴), Finansavisen (🇳🇴, $) and Wired.

22 March 2023

Alliance invests in Two’s €18M Series A

Two, a company on a mission to fix b-commerce with BNPL for B2B, has raised a €18M Series A led by Shine Capital. Alliance also investing in the round together with Antler, Sequoia Capital, Day One Ventures, LocalGlobe and Sondo Capital.

Check out articles by TechCrunch, Sifted and Shifter (🇳🇴).

13 March 2023

APEXX has closed $25M Series B

APEXX, delivering a truly global Payment Orchestration Layer built for enterprise customers, has announced its Series B round of $25M. The round was led by MMC Ventures and included new and existing investors. Alliance participated in the round to continue a strong relationship. 

Check out coverage by Finextra.

2 February 2023

Kvist has raised 17 MNOK seed round

Kvist Solutions, a provider of digital solutions for environmental certifications in construction, has raised a 17 MNOK seed round led by ArkwrightX and DNB Ventures to accelerate its roll-out. Alliance led the pre-seed round a year ago and followed-on in the seed round.

Check out Shifter article (in 🇳🇴).

19 January 2023

Blog post: A True Partner for Founders

There is a lot of talk these days about VC funds being “founder friendly”. An investor being “founder friendly” is not only an attractive proposition for startups, it is attractive for investors too. At Alliance VC, we have a strong bias for action over words. Let us look at the actions we have taken to ensure this.

Read full blog post.

17 January 2023

Equlity Check has raised $1.6M equity round

Equlity Check, a company helping organisations create more equal workplaces for all, has raised a new $1.6M equity round. Alliance VC co-invested with Unconventional Ventures and other investors in the round.

See article in Shifter.no for more (in Norwegian)

30 November 2022

TouchNetix has raised 120 MNOK ($12M) funding round

TouchNetix, a rapidly growing, global leader in next generation human machine interface (HMI) semiconductor chips and sensor modules, today announced a 120 MNOK ($12M) funding round, where Alliance Venture participated. TouchNetix provides intuitive and safety-enhancing user experiences for touchscreens and smart touch surfaces.

See media coverage and company announcement.

11 October 2022

Steep raises €1M pre-seed round co-led by Alliance

Steep, the next-generation analytics platform powered by design, has raised €1M a pre-seed round co-led by Alliance and Inventure and participation from The Nordic Web Ventures, Antler, Greens and a list of well-known angel investors. Steep‘s new funding will facilitate the company’s plans to accelerate its product launch across European and US markets, continue product development and recruit key hires.

Check out articles from Tech.eu, TFN, Shifter (🇳🇴) and founder announcement.

29 September 2022

Alliance invests in Ripe's $2M pre-seed round

Stockholm-based Ripe has raised a$2M pre-seed round to power the product-led economy. Ripe makes it easy for companies to respond immediately to their best customers, in-product, by coupling together key data sources and turn data into revenue. Alliance co-invested with Earlybird Venture Capital in the round.

See TechCrunch article and company blog for more info.

13 September 2022

Xeneta announces new $80M investment

Xeneta has raised an additional $80M in funding led by Apax Digital with participation from existing investor, Luxor Capital (Lugard Road Capital). This funding highlights the value of data in the ocean shipping and air cargo market.

See TechCrunch article and company blog for further details.

8 September 2022

Alliance invests in Bits Technology's pre-seed round

Bits Technology has closed a €1M pre-seed funding round to rethink and ultimately reshape how global fintechs build financial services. The round was led by Cherry Ventures with Alliance Venture, Forward VC and Greens Ventures also joining the round.

See company announcement, as well as articles in Tech.eu and Di Digital (🇸🇪).

5 September 2022

Ark Kapital raises another €15M of equity

Ark Kapital has raised another €15M from new (like Annika Falkengren and Timo Soininen) and existing (LocalGlobe, Creandum, Hjalmar Winbladh, Jacob de Geer, Patrick Söderlund and others) investors.

Alliance is happy to participate and increase our investment, as Oliver Hildebrandt, Henrik Landgren, Axel Bruzelius and the team are building a modern, data-driven lender to companies with predictable revenue.

See coverage in Shifted.

13 July 2022

Aquabyte closes $25M Series B funding

Aquabyte, which uses computer vision and AI to give fish farms unprecedented insight into the health, growth, and sustainability of their fish, today announced the completion of its Series B round of $25M. The round was led by SoftBank Ventures Asia. Existing investors NEA, Costanoa Ventures, ArcTern Ventures, Struck Capital and Alliance Venture participated in the round.

Check out coverage by Dagens Næringsliv (🇳🇴,$) & press release.

12 June 2022

Alliance co-leads $4.8M seed round in Globus.ai

Globus.ai, a staffing AI company, has raised a $4.8M seed round co-led Alliance Venture and Scale Capital, as it ramps up presence in the UK and prepares for further expansion. Globus is growing rapidly by enabling customers to process more vacancies by automating time-consuming and manual recruitment and staffing processes.

Check out coverage by Tech Funding News and Finansavisen (🇳🇴,$) + press release.

8 June 2022

Shoreline Wind lands $7.5M funding round

The wind energy SaaS leader has secured a $7.5M funding round led by Ecosystem Integrity Fund (EIF), with Ferd Capital and Blue Bear Capital participating in the syndicate. The funding will support rapid scaleup, accelerate market expansion and increase the company’s unique scenario modeling capabilities. 

See company announcement for further details.

17 May 2022

Helppy raises €3M seed fund

A new model of home care is emerging – Finnish care platform Helppy raises €3M to expand to Europe from Alliance Venture.

Helppy has developed a neighborhood care model, empowered by tech, as a new alternative to elderly home care. The model, utilizing platform logistics, allows for more personal care, full transparency and higher productivity than the traditional route-based shift worker model. The company has proven its concept in Finland and is now expanding its operations to multiple European countries.

Read full article at Eu-Startups.com

25 April 2022

Mjuk raises €4M in its second funding round

Mjuk, the rapidly growing second-hand furniture marketplace has raised €4 million from Allliance Venture and Lifeline Ventures in its second funding round. The funding will mainly be used for product development and to support growth in the Nordics ahead of a wider European expansion.

See Di.se article.

29 March 2022

Ark Kapital raises €165M seed round

ArK Kapital has raised €165 million (€150 million in debt funding and €15 million in equity), now providing Stockholm with an entrant into the game of alternative funding options for startups.

See Tech.eu article.

24 March 2022

Unleash raises $14M Series A

Unleash is scaling its open source feature management platform in the U.S. and Europe. The platform provides enterprise developer teams greater flexibility and control over data leading to faster, higher quality, and the most secure feature management and deployment. The new round was led by Spark Capital with Alliance joining a strong investor syndicate.

See TechCrunch article, company blog post and press release.

7 February 2022

IndyKite has raised $8M and launched platform

IndyKite has raised $8M in a new seed round led by Molten Ventures with participation from Alliance Venture and SpeedInvest, coinciding with the launch of the new identity platform, IndyKite.id.

See company announcement, Tech.eu article and our Medium post.

15 December 2021

Medal.tv has raised a total of $60M in new funding

This includes a $45M Series C led by OMERS Ventures, shortly following a previously unannounced $15M Series B from Makers Fund, Horizons Ventures and Dune Ventures. Alliance Venture participated in both rounds. The company also announced further acquisitions.

See coverage from VentureBeat, Finansavisen (Norw./$) and Shifter (Norw.)

14 December 2021

Superside has raised a $30M funding round

The round was co-led by Prosus Ventures and Lugard Road Capital, with Slack Fund and Acequia Capital also participating. The funding follows a hugely impressive period of efficient and strong growth, and landing an equally impressive list of premium clients.

See TechCrunch article.

13 December 2021

Alliance Venture leads pre-seed round in Kvist Solutions

This was a 5.5 MNOK ($600k) round, where other investors included StartupLab and Vater. Kvist is on a mission to make the building and construction industries more sustainable, and has shown great early customer value and traction.

See Shifter article (in Norw.)

11 December 2021

Novelda has raised a 400 MNOK ($45M) funding round

The funding round enables Novelda to accelerate growth, product development and strengthen its position as the global leader in UWB sensing. The round was oversubscribed and included Tier 1 institutional investors joining existing investors.

See Medium post from Novelda.

7 December 2021

Arundo Analytics has raised $15M (136 MNOK) in a new equity round

Further details about the round have not been disclosed.

See Finansavisen article (Norw. / $)

21 October 2021

Alliance Venture co-leads $2.5M round in IndyKite

We are excited to join Lasse Andresen & the whole IndyKite team on the mission to change the digital identity space - again! Today the company came out of stealth and announced its $2.5M funding round co-led by Alliance Venture and SpeedInvest.

See our Medium post and coverage by Tech.eu, Finansavisen (Norw.) & Shifter (Norw.).

8 September 2021

Henrik Torstensson joins as Partner in Stockholm

We are very happy to welcome Henrik to the team!

Previously Henrik was the CEO of Lifesum and an executive at Spotify and Stardoll, as well as an angel investor in TeamTailor, Fishbrain, Videoplaza and others.

Read more at Dagens Industri and Shifter.


5 August 2021

Swarm64 acquired by ServiceNow

ServiceNow has announced the acquistion of Swarm64 to enable a more effective and efficient data management across many different use cases to execute complex, high-speed data analytics at a mass scale. We are proud to have been the first investor in Swarm64. Congratulations to both ServiceNow and the team!

See announcement from from ServiceNow.

5 August 2021

Alliance Venture leads Equality Check’s seed round

Equality Check is on a mission to help organizations improve their Diversity & Inclusion performance. Alliance Venture is excited to lead EC's seed round

See article in DN (in Norwegian).

24 June 2021

Sanity raises $39M Series B led by ICONIQ

Sanity.io today announced its Series B round led by ICONIQ and joined by Lead Edge Capital. Alliance participated in the round with existing co-investors Threshold and Heavybit.

Check out company announcement, TechCrunch article and coverage in DN.no (in Norw.)

17 June 2021

Alliance Venture invests in TouchNetix’ $11.5M Series A

TouchNetix, the rapidly growing provider of next-generation human-machine interface (HMI) chips and sensor modules, has raised an $11.5M Series A to accelerate its global expansion plans. Alliance Venture invested in the round and is excited to back an exceptional team and company. Congratulations to Vegard Wollan, Gaute Myklebust and team for reaching another important milestone! See article and press release.

17 June 2021

Xeneta has raised Series C funding of $28.5M

Xeneta, the leading ocean and air freight rate benchmarking platform and container shipping index, today announced the successful close of its $28.5M Series C. The funding was led by New York-based Lugard Road Capital, with participation from existing investors Creandum and Investinor. Lugard Road will join Xeneta’s earlier investors Smedvig Capital, Point Nine Capital and Alliance Venture, bringing the total raised by Xeneta to $49M. See articles in Shifter (Norw.) and press release.

8 June 2021

Oda reaches unicorn status

Oda just announced a secondary transaction at company valuation of $ 1.2 billion, on the back of its $ 265 million Softbank/Prosus-led round in April. This means that Oda is now a unicorn!

Read more at Medium

30 April 2021

Alliance Venture leads MSEK 15 round in &Repeat

Excited to join &Repeat in their quest to make takeaway packaging better for the environment.

Read the full story in DI Digital

8 April 2021

Softbank and Prosus lead $265M round in Oda

Congrats to Softbank and Prosus for partnering with a world-class team and amazing company - Oda (formerly Kolonial.no). It has truly been a great journey since Alliance Venture lead the seed round, and it has just begun...

Read the full story in Techcrunch

8 March 2021

Nordic Capital new investor in Boost.ai

Nordic Capital comes in as new lead investor in Boost.ai – welcome! See press release here and article in Norwegian here.

Well done and congratulations to Lars and team for an impressive journey so far. Onwards and upwards!

4 December 2020

Alliance Venture leads MSEK 12 investment in Alexis HR

The investement in the HR data platform marks Alliance first investment in Sweden.

Read more at Breakit (in Swedish).

16 November 2020

Alliance Venture leads ShiftX’ MNOK 15.3 Seed round

Alliance is joined by Skagerak Maturo and prominent angels Ståle Løvbukten, co-founder of Questback and Admincontrol, and Evan Weaver, co-founder of Fauna Inc.

For more info, please see Finansavisen article and Shifter coverage, both in Norwegian, or ShiftX medium post (in english).

15 October 2020

Sanity raises USD 9.3 million A-round led by Threshold Ventures

Alliance Venture participate together seed-round co-lead Heavybit and with prominent new angel investors such as Ev Williams. Please see Techcrunch article and company blog post for more.

20 August 2020

Aquabyte raised 10M USD

Portfolio company Aquabyte raised 10M USD from ArcTern Ventures and existing investors.

Read more (in Norwegian)

3 August 2020

Follow-on investments all-time high

H1 2020 ended up being an all-time high for follow-on investment in the Alliance Venture portfolio. Eight companies raised a total of 479 MNOK (approx. 50 MUSD). Six of the funding rounds have already been announced, Apexx Global, Shoreline, Aprila Bank, Boost.ai, Novelda and poLight, while two deals are not yet public.

Read more

11 June 2020

Apexx raised $8 million Series A

London-based payments platform APEXX Global has raised an $8 million Series A from new and existing investors, including Forward Partners, MMC and Alliance Ventures

Read more at tech.eu

2 June 2020

Launching Alliance Venture Delta

We are very happy and proud to be able to close a sizable early-stage venture fund in the midst of the COVID-19 outbreak. This will enable us to invest in a very challenging time for the startup ecosystem. And though this post is written while most of us are still in lock-down it is our firm belief that we as a society will fight through these difficult times.

Read more

1 April 2020

Responsible investing during the COVID-19 crisis

Now is the time for investors to prove themselves as great long-term partners to entrepreneurs and that it’s not just a marketing gimmick.

Read more.

9 October 2019

FPGA inventor Xilinx invests in Swarm64

Swarm64, the leader in FPGA-accelerated database management solutions, today announced that Xilinx, the FPGA inventor, has invested in Swarm64. The two companies will work together to deliver high-performance analytic databases that are easy to deploy and scale at a lower total cost of ownership (TCO) than existing solutions in the market.

See press release.

8 October 2019

Megacool acquired by Medal.tv

Medal.tv, the largest short-form video clip sharing platform in gaming, has today announced the acquisition of Megacool.co, the mobile game clipping and sharing startup (an Alliance Venture portfolio company).

See article and blog post.

9 September 2019

Superside, a new Alliance Venture win-win investment

Providing opportunity for global design talent to serve and impact Enterprises.

Read more

6 September 2019

New investment in Superside

Superside, provider of hassle-free design services for enterprise teams, just raised a 3.5 MUSD funding round. Alliance Venture participated in the round with Freestyle Capital, High Alpha Ventures, and Y Combinator.

See TechCrunch article.

4 September 2019

Alliance Venture co-leads seed round in Sanity.io

Sanity.io has raised a 2.4 MUSD seed round led by Heavybit and Alliance Venture joined by a group of angel investors from the developer community. Sanity delivers a Structured Content Platform for modern developers. See announcement and article from DN. (Norwegian)

4 May 2019

Confessions of a reality TV VC bad guy

I’d like to congratulate the team of LeadX, Smart Innovation Norway, and Nordic Media Lab on the documentary miniseries from their recent…

Read more

20 March 2019

Alliance Venture invests in Altua

Altua, the developer of Grunt – the tool that gives PowerPoint users superpowers, announced a new funding round of 16 MNOK (1.9 MUSD) to take Grunt to market. Alliance Venture, a new investor, joined the syndicate of existing investors. See article from Finansavisen (in Norwegian).

13 March 2019

Xeneta raises 70 MNOK (8.2 MUSD) in new funding

Xeneta, the leading freight price benchmarking and market intelligence platform, has raised a new funding round of 70 MNOK (8.2 MUSD) led my Investinor. Existing shareholders Smedvig Capital, Creandum, Alliance Ventures, and Alden participated in the funding round. See announcement from Investinor.

21 February 2019

Novelda secures 15 MUSD in growth funding for its XeThru radar sensor business

Novelda, a developer and supplier of adaptive smart sensors, has closed a USD 15 million funding round to further develop and take the XeThru radar sensor technology into high volume applications. Alliance Venture participated in the round led by Investinor. See the company’s announcement.

11 February 2019

Digesting impressions from SaaStr Annual 2019

I have been a SaaStr fan and follower of the SaaStr community and best practices for years, yet I attended my first SaaStr Annual last week. The conference prides itself on “actionable advice and learnings to help grow SaaS businesses from $0 to $100M ARR”.

Read more

28 September 2018

PoLight announces successful IPO raising 130 MNOK

poLight ASA today announced the successful completion of its initial public offering (IPO). The first day of trading of the company’s shares on the Oslo Stock Exchange is expected to be Monday 1 October 2018 under the ticker OSE: PLT. In the offering poLight has raised 130 MNOK in new funds. See the company’s announcement.

14 August 2018

“Why are you here?”

… is probably the most frequent question I get, when I explain who I am and what I do. This is not a hostile question or bullying tactic, but simply an indication of genuine curiosity and some confusion.

Read more

9 February 2018

Boost.ai secures 5 MUSD Series A investment from Alliance Venture

Boost.ai, provider of the world’s most robust virtual assistant platform, announced today the closing of a new round of financing from Alliance Venture. Boost.ai has developed the world’s most robust natural language processing (NLP) algorithms. These algorithms enable virtual assistants built on the James® platform to respond to customer enquiries quickly, efficiently and with unrivaled accuracy. The financing will be used to strengthen the technical and commercial teams within boost.ai, and to support expansion beyond the Nordics. See article (in Norwegian).

30 January 2018

Aquabyte raises 3.5 MUSD seed funding; aims to transform fish farming through computer vision and machine learning

Aquabyte, a startup applying computer vision and machine learning models to dramatically optimize fish farming efficiency, today announced a 3.5 MUSD Seed Round of funding co-led by Costanoa Ventures and New Enterprise Associates (NEA) with participation from Alliance Venture, Princeton University and other investors. See press release, Forbes article and Shifter article (Norw).

25 January 2018

Arundo Analytics raises 25MUSD Series A funding to bring large-scale machine learning into asset-heavy industries

Arundo Analytics, a software company powering advanced analytics in heavy industry and Alliance Venture portfolio company, announced today an initial closing of 25 MUSD on its Series A financing round. To date, the company has raised over $32.5 million since its founding in 2015. “This investment is a validation of the product and market strategy our team pursued over the last two years,” said Tor Jakob Ramsøy, CEO of Arundo. See article.

7 January 2018

Swarm64 raises 12.5 MUSD Series B round led by Intel Capital

Alliance Venture portfolio company, Swarm64 – an enabler of real-time analytics for high velocity and big data – has raised 12.5 MUSD Series B round led by Intel Capital. The funding will be used to strengthen Swarm64’s position as a global leader in FPGA-based accelerators for relational databases. Alliance Venture participated in the round. See press release in English and article in Norwegian.

3 January 2018

Aprila Bank has raised 170 MNOK (20 MUSD) in funding

Alliance Venture invested early alongside FJLabs and was later joined by several reputable Norwegian investors. Aprila delivers a fully automated on-the-spot financing solution for SMEs with an innovative distribution model. The solution will address the SME funding gap through a seamless integration with established ERP solutions and accounting services. See article in Norwegian.