Top 12 Agritech Venture Capital Investors in the Nordics
Top 12 Agritech Venture Capital Investors in the Nordics
The agritech venture capital industry in the Nordics is rapidly evolving, driven by a surge of innovation and sustainability efforts. Companies operating here focus on enhancing agricultural productivity through technology, robotics, and biotechnology, catering to both local and global markets. From precision farming to plant-based food production, these businesses are tackling pressing challenges like climate change and food security. In recent years, interest in sustainable practices has attracted significant investment, positioning the Nordics as an influential hub for agritech advancements, ultimately shaping the future of food production and distribution.
The Nordic region is home to a range of agritech venture capital investors, including venture capital and corporate firms. Spanning from Denmark to Finland and Sweden, these investors vary in size and focus, with many fostering innovative companies in the agritech sector. In 2024, they collectively engaged in numerous deals that emphasize their commitment to sustainability and economic growth. Notable firms like Novo Holdings and EQT Group show how fresh capital is flowing into agritech investments, which are crucial for future agricultural advancements.
Top 12 Agritech Venture Capital Investors in the Nordics
1. Novo Holdings
- Website: novoholdings.dk
- Type: Venture Capital
- Headquarters: Hellerup, Denmark
- Founded year: 1999
- Headcount: 51-200
- Number of deals in 2024: 45
- LinkedIn: novo-a-s
Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and primarily invests in life science companies at various stages of development. The firm provides capital and strategic support to enhance healthcare solutions. Recently, Novo Holdings has expanded its investment portfolio to include agritech-related ventures. Notably, it led a funding round for Chromologics, a biotech company that specializes in natural food colorants, raising a total of €12.6 million to accelerate commercialization of its products. Additionally, Novo Holdings invested in AgNext, which raised approximately $7.96 million in a venture round in June 2024, further solidifying its presence in the agritech sector. These transactions highlight Novo Holdings' commitment to supporting innovation in both life sciences and agritech.
2. EQT Group
- Website: eqtgroup.com
- Type: Private Equity
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1994
- Headcount: 1001-5000
- Number of deals in 2024: 30
- LinkedIn: eqt-partners
EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT invested in FoodHack, which secured a $1.1M pre-seed investment aimed at launching an investment platform for sustainable food technology. This investment reflects EQT's engagement in the food and agritech sectors. Additionally, EQT has made significant acquisitions in life sciences and renewables, indicating a broad investment strategy that includes but is not limited to agritech.
3. Finnfund
- Website: finnfund.fi
- Type: Corporate
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 1980
- Headcount: 51-200
- Number of deals in 2024: 7
- LinkedIn: finnfund
Finnfund is a not-for-profit development financier and impact investor based in Helsinki, Finland, founded in 1980. The organization focuses on creating sustainable futures by investing in companies that address global development challenges, particularly in developing countries. Finnfund provides investment and advisory services to promote economic growth and sustainability across various sectors. Notably, Finnfund has been involved in transactions that support agricultural initiatives, such as their investment in Proximity Finance, which aims to support farmers in Myanmar by providing loans. This investment highlights Finnfund's commitment to enhancing agricultural productivity and financial access in developing regions. Additionally, their backing of other financial institutions like Advans Microfinance Network and Uhuru Investment further demonstrates their engagement in sectors that can indirectly benefit agritech by fostering economic growth and supporting small and medium enterprises in agriculture-related fields.
4. Yara Growth Ventures
- Website: yaragrowthventures.com
- Type: Venture Capital
- Headquarters: Oslo, Oslo, Norway
- Founded year: 2021
- Headcount: 1-10
- Number of deals in 2024: 4
- LinkedIn: yara-growth-ventures
Yara Growth Ventures is a venture capital firm based in Oslo, Norway, founded in 2021. The firm specializes in investing in innovative startups and funds within the agriculture and clean hydrogen sectors. Yara Growth Ventures aims to provide financial support and strategic guidance to help businesses in these industries develop and scale their solutions. They leverage an extensive network to facilitate advancements in sustainable agriculture and energy. Notable transactions include a $40 million Series B investment in Apollo Agriculture, a $49 million Series B investment in Jai Kisan, and participation in a $27 million Series B funding round for Agrolend. Additionally, they invested in Tarfin, a Turkey-based agritech company, in a pre-Series B bridge round to enhance offerings for farmers and expand into new markets. These investments highlight Yara Growth Ventures' active role in the agritech sector.
5. Katapult
- Website: katapult.vc
- Type: Venture Capital
- Headquarters: Oslo, Oslo, Norway
- Founded year: 2017
- Headcount: 11-50
- Number of deals in 2024: 8
- LinkedIn: katapult-accelerator
Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. In 2022, Katapult made significant investments in agritech, including GrowAgric, which raised $150,000 in non-equity assistance, and Crop2Cash, which secured funding in a pre-seed round. They also supported Rural Farmers Hub with a $200,000 seed round and Afrikamart with another $150,000 in seed funding. In 2023, they invested in Solar Materials, further showcasing their diverse portfolio while maintaining a notable presence in the agritech sector.
6. Swedfund International
- Website: swedfund.se
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1979
- Headcount: 51-200
- Number of deals in 2024: 6
- LinkedIn: swedfund-international
Swedfund International is a public entity based in Stockholm, Sweden, founded in 1979, that focuses on development finance aimed at reducing poverty through sustainable investments in developing countries. The organization supports small and medium enterprises and public sector projects, enhancing access to essential services and promoting economic growth. In 2024, Swedfund made a notable investment in Apollo Agriculture, providing USD 10 million to support the expansion of initiatives that empower small-scale farmers in Kenya, enabling them to adopt sustainable practices and improve food security. Additionally, Swedfund was involved in a significant funding round for AgDevCo, raising $85 million, which further illustrates its commitment to fostering sustainable agricultural development. Through these transactions, Swedfund demonstrates its active role in the agritech sector, mobilizing private capital and providing technical assistance to enhance agricultural productivity and sustainability.
7. Heartcore Capital
- Website: heartcore.com
- Type: Venture Capital
- Headquarters: Copenhagen, Denmark
- Founded year: 2007
- Headcount: 11-50
- Number of deals in 2024: 17
- LinkedIn: heartcorecapital
Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and emphasizes building long-term relationships with entrepreneurs. In 2022, Heartcore participated in a notable investment in Gourmey, a French cultivated meat startup, which raised €48 million in a Series A round, marking it as the largest Series A round for a cultivated meat startup globally. This investment reflects Heartcore's interest in innovative food technologies within the agritech sector. Additionally, they have been involved in various other sectors, but their engagement with Gourmey highlights their potential relevance in agritech.
8. Almi
- Website: almi.se
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1994
- Headcount: 201-500
- Number of deals in 2024: 7
- LinkedIn: almi-ab
Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions relevant to the agritech sector, including investments in Plantvation, which secured SEK 5.8 million in funding, and Big Akwa, a land-based trout producer that raised funds through a combination of equity sales and loans. Almi's participation in these funding rounds demonstrates their engagement in the agritech industry, making them a significant player in this space.
9. NOON Ventures
- Website: noon-ventures.com
- Type: Venture Capital
- Headquarters: Copenhagen, Denmark
- Founded year: 2020
- Headcount: 1-10
- Number of deals in 2024: 1
- LinkedIn: noon-ventures
NOON Ventures is a venture capital firm based in Copenhagen, Denmark, founded in 2020. The firm focuses on providing investment capital to startups and businesses, helping them grow and develop their operations. In 2024, NOON Ventures participated in a seed round for Agrobiomics, raising approximately $4.3 million, which highlights their engagement in the agritech sector. Additionally, they led a funding round for Enduro Genetics, a biotech company, indicating their interest in innovative technologies that may intersect with agricultural applications. Their primary customers are businesses seeking funding to scale their ventures, and their investment strategy includes a focus on sectors that can drive significant growth, including agritech.
10. Kale United
- Website: kaleunited.com
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2018
- Headcount: 1-10
- Number of deals in 2024: 2
- LinkedIn: kaleunited
Kale United is a corporate investment firm based in Stockholm, Sweden, founded in 2018. The firm specializes in sustainable food production through impact investments, particularly in plant-based and foodtech companies. Kale United aims to support individual and institutional investors who are interested in promoting a plant-based lifestyle while achieving financial returns. Notably, they participated in a seed funding round for Vevolution, a London-based vegan startup growth and investment platform, which raised $330,000 to enhance technology, expand its portfolio, and support the plant-based and cellular agriculture industries. This transaction highlights Kale United's commitment to investing in innovative solutions within the agritech space, reinforcing their relevance in this sector.
11. Sandwater
- Website: sandwater.com
- Type: Venture Capital
- Headquarters: Oslo, Oslo, Norway
- Founded year: 2021
- Headcount: 1-10
- Number of deals in 2024: 3
- LinkedIn: project-sandwater
Sandwater is a venture capital firm based in Oslo, Norway, founded in 2021. The firm focuses on investing in innovative companies that address global challenges through sustainable technologies. They provide capital, strategic advice, and access to a network of resources to help these companies scale effectively. Sandwater primarily targets European startups in the technology and sustainability sectors. Notably, they led a Series A funding round for FarmInsect, a German insect technology company, which raised $8.48 million in October 2023. This investment highlights their engagement in the agritech sector, as insect technology plays a significant role in sustainable agriculture. Additionally, they participated in the Series A funding for Enduro Genetics, further showcasing their interest in innovative solutions that may intersect with agricultural advancements.
12. Propagator Ventures
- Website: propagator.vc
- Type: Venture Capital
- Headquarters: Oslo, Oslo, Norway
- Founded year: 2018
- Headcount: 1-10
- Number of deals in 2024: 1
- LinkedIn: propagator-ventures
Propagator Ventures is a venture capital firm based in Oslo, Norway, founded in 2018. The firm specializes in investing in early-stage companies that are pioneering breakthrough science and engineering innovations. While their primary focus is on high-tech sectors such as AI, quantum computing, and robotics, they have also made significant investments in agritech-related companies. Notably, they acquired an 11.7% minority stake in Saga Robotics, a company that is transforming farming through robotics. This investment reflects their commitment to supporting technologies that enhance agricultural practices and improve efficiency in the farming sector. Propagator Ventures provides venture capital management services and support to help these companies scale their transformative technologies, indicating a broad interest in innovative solutions across various industries, including agritech.
Agritech Venture Capital Insights: Key Investors in the Nordics
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Novo Holdings | Hellerup, Denmark | 51-200 | 1999 | 45 |
| EQT Group | Stockholm, Stockholm, Sweden | 1001-5000 | 1994 | 30 |
| Finnfund | Helsinki, Uusimaa, Finland | 51-200 | 1980 | 7 |
| Yara Growth Ventures | Oslo, Oslo, Norway | 1-10 | 2021 | 4 |
| Katapult | Oslo, Oslo, Norway | 11-50 | 2017 | 8 |
| Swedfund International | Stockholm, Stockholm, Sweden | 51-200 | 1979 | 6 |
| Heartcore Capital | Copenhagen, Denmark | 11-50 | 2007 | 17 |
| Almi | Stockholm, Stockholm, Sweden | 201-500 | 1994 | 7 |
| NOON Ventures | Copenhagen, Denmark | 1-10 | 2020 | 1 |
| Kale United | Stockholm, Stockholm, Sweden | 1-10 | 2018 | 2 |
| Sandwater | Oslo, Oslo, Norway | 1-10 | 2021 | 3 |
| Propagator Ventures | Oslo, Oslo, Norway | 1-10 | 2018 | 1 |
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