Funded Energy Startups in Norway
The disclosed-round sizes in this Norway energy list show a wide spread, with BW Energy raising the largest disclosed amount at $400M on 2025-03-28.
The disclosed-round sizes in this Norway energy list show a wide spread, with BW Energy raising the largest disclosed amount at $400M on 2025-03-28. That single figure sits far above the rest of the disclosed amounts visible here (for example, Arva at $48M on 2024-03-01 and Hexagon Purus at $77M on 2023-03-01 are much smaller, while multiple entries land in the $2M–$12M range).
Geographically, the entries cluster strongly around Oslo: Photoncycle (Oslo, 2026-03-04, $17M), ONiO (Oslo, 2025-06-18, $6M), Ocean Oasis (Oslo, 2024-08-28, $7M), Over Easy Solar (Oslo, 2023-12-13, $870K), Kyoto Group (Oslo, 2023-06-22, $7M), Aqualung Carbon Capture (Oslo, 2023-02-22, undisclosed), NEL Hydrogen (Oslo, 2022-10-04, $6M), Skyfri (Oslo, 2022-07-08, $5M), and Hyon (Oslo, 2022-01-21, $6M). Stage reporting is also skewed toward missing or non-standard labels: five of 24 rows use “Series Unknown,” and two rows list “undisclosed” amounts, including BW Energy’s “Series Unknown” label ($400M) and Deep Wind Offshore (2023-09-07, undisclosed). Rounds span 2021-06-01 (Heaten) through the most recent date 2026-03-04 (Photoncycle).
Most recent rounds
24 shownRelated listings
Frequently asked
What are the size extremes in these Norway energy rounds, and how does the largest disclosed amount compare?
BW Energy’s $400M round on 2025-03-28 is the largest disclosed amount on the page. The smallest disclosed amount is $400K for Photoncycle’s Pre-Seed? (No) actually the smallest disclosed amount shown is $400K for Over Easy Solar at $870K (2023-12-13) is not smallest; the smallest is $500K for Lithium367 (2025-04-01). Overall, $400M dwarfs the next-largest disclosed rounds like Hexagon Purus at $77M (2023-03-01) and Arva at $48M (2024-03-01).
Are there any clear city concentrations, based on where rounds are located?
Oslo dominates the list: it appears across multiple entries including Photoncycle (2026-03-04, $17M), ONiO (2025-06-18, $6M), Ocean Oasis (2024-08-28, $7M), Kyoto Group (2023-06-22, $7M), NEL Hydrogen (2022-10-04, $6M), Skyfri (2022-07-08, $5M), and Hyon (2022-01-21, $6M). Outside Oslo, Stavanger/Rogaland shows repeated activity as well (Installer at $4M on 2025-03-04; Remora Robotics at $3M on 2023-08-21; ECOsubsea at $12M on 2023-10-03; among others).
How do the most recent rounds cluster by time in this dataset’s visible window?
There is a tight recent cluster in early-to-mid 2025 and early 2026: Photoncycle closes 2026-03-04 ($17M) and ONiO follows on 2025-06-18 ($6M), while multiple 2025 rounds appear in the spring window (BW Energy on 2025-03-28 for $400M; Installer on 2025-03-04 for $4M; Lithium367 on 2025-04-01 for $500K). This concentrates a substantial share of the 24 rows toward 2025 rather than evenly across 2021–2026.
Does stage labeling concentrate in a particular set of categories, or is it evenly spread?
Stage labels are not evenly distributed: “Series Unknown” appears in five of 24 rows (including BW Energy on 2025-03-28 at $400M; Ocean Oasis on 2024-08-28 at $7M; and Kyoto Group on 2023-06-22 at $7M). Disclosed rounds with explicit stages include Seed/Pre-Seed and a smaller number of named later stages such as Series B (ECOsubsea at $12M on 2023-10-03) and Series A (Photoncycle at $17M on 2026-03-04 and ONiO at $6M on 2025-06-18).
Are there outliers worth flagging beyond the single largest disclosed dollar amount?
Yes: undisclosed amounts create comparability gaps alongside the largest round. Deep Wind Offshore is marked 2023-09-07 with an undisclosed amount, while Aqualung Carbon Capture is 2023-02-22 with undisclosed amount as well. In contrast, the size distribution includes very small disclosed rounds like Lithium367 at $500K (2025-04-01) and Kitemill at $2M (2022-12-12), which sit orders of magnitude below BW Energy’s $400M.
What is the temporal edge of the dataset, and what does it imply about recency?
The most recent round date shown is 2026-03-04 for Photoncycle ($17M), while the oldest round date shown is 2021-06-01 for Heaten ($3M). With 24 rows spanning roughly four and a half years, the presence of multiple 2022–2025 closings (for example, NEL Hydrogen on 2022-10-04 at $6M; Glint Solar on 2022-06-12 at $3M; and BW Energy on 2025-03-28 at $400M) suggests sustained activity rather than a single short-lived wave.
Know which startups just got funded. Every week.
Fresh funding rounds, new companies, and the sectors moving fastest — in your inbox every Monday morning.
Free. Sent every Monday. Unsubscribe anytime.