Swedish investment firm Norrsken has committed €300 million from its venture capital, launcher and accelerator funds to support European start-ups developing artificial intelligence solutions for positive social impact.
The company announced on Wednesday that this capital will be directed towards addressing critical challenges across five key areas: climate change, healthcare, food systems, education and societal improvement.
In an official statement, Norrsken said: “Clean energy, healthcare, education and food systems represent the foundation for future trillion euro companies. These will be built by visionary engineers solving global challenges at scale.”
The investor highlighted that while AI has primarily been used for commercial applications like optimising online engagement and automating communications, its transformative potential remains largely unrealised. “We have barely scratched the surface of this technology’s capabilities. AI represents more than just enhanced productivity tools; it offers genuine opportunities to address humanity’s most critical issues,” the statement continued.
Norrsken emphasised that the most successful future investments will support AI applications targeting the world’s most urgent problems. The firm noted that AI start-ups have already secured over $110 billion in venture capital funding, representing approximately one third of total global VC investment.
The investment portfolio of Norrsken funds includes several AI focused enterprises such as Quadrivia, which specialises in AI enhanced clinical workflow optimisation; Submer, developer of advanced data centre cooling solutions; Evroc, builder of sovereign cloud infrastructure platforms; and Juna.ai, which focuses on industrial energy efficiency systems.
Norrsken highlighted specific achievements of its portfolio companies, noting that “Juna.ai enables heavy industry to significantly reduce its environmental impact through AI driven factory optimisation,” while “Quadrivia addresses healthcare system inefficiencies with AI clinical assistants that alleviate workload pressures without requiring unrealistic staffing expansion.”
The substantial funding commitment underscores Norrsken’s strategic focus on supporting technological solutions that combine commercial viability with meaningful social impact.
