Sandwater
Venture capitalOslo · Seed–Series B · 13 people tracked
Investment thesis
Sandwater invests in early-stage companies building solutions for the change the world needs. The firm draws on a Nordic ethos of collaboration and transparency, bringing commitment and a bold approach to helping founders grow. Its portfolio spans deep tech, climate and energy, robotics, health and life sciences, agtech, femtech, and defense, reflecting a broad focus on impactful technologies across the Nordics and Europe.
Source: firm website, verified Aug 3, 2026.
Team · 13 people
from the firm's website & curated & public directories
What they invest in
from 12 of 24 portfolio companiesAgTech ×3AI & Machine Learning ×3Cleantech ×3Climate Tech ×3Deep Tech ×3Energy ×3Hardware ×3Healthtech ×3
HQs:Norway×2Canada×1Germany×1Finland×1United Kingdom×1United States×1
Investments · 24 tracked
founders shown can be your intro pathHumanoid robotics company that launched NEO, a consumer humanoid robot.
1X is an AI and robotics company developing general-purpose humanoid robots for home and industrial use.
AI & Machine LearningConsumerHardwareRoboticsPalo Alto, US
Bernt Øyvind Børnich(CEO)Bernt Børnich(Founder)in
Co-investorsAlliance VCAlliance VentureSamsung NextSkagerak CapitalSprettertStarbridge Venture Capital Llc+8 more
Alva Industries develops electric motors and drive systems using a patented FiberPrinting production technology for ironless, slotless stator windings, offering compact torque motors such as SlimTorq and GearTorq.
Advanced ManufacturingAI & Machine LearningCleantechDeep TechHardwareRobotics
Co-investorsDRONE FUNDEmerald Technology Ventures AgNabtesco Technology VenturesNysnø Climate Investments
Bioenergy and biogas reactor company.
CardioSignal is a CE-marked Class IIb software-as-a-medical-device app that uses smartphone gyroscope and accelerometer sensors (gyrocardiography) to detect signs of atrial fibrillation in a one-minute measurement.
AI & Machine LearningDigital HealthMedical Devices
Juuso Blomster(CEO)
Co-investorsDigiTx Partners LLCInnovestor VenturesStart Capital
Accelerating cities' transition to net zero economies
CMR Surgical develops Versius, a small, modular, and portable surgical robot that enables hospitals and surgeons to perform minimal access (keyhole) surgery.
HealthtechMedical DevicesRobotics
Massimillano Colella(Chief Executive Officer)
Co-investorsCambridge Innovation CapitalLightrockSoftBank Vision FundWatrium
CurifyLabs develops an automated compounding system for pharmacies that uses robotics, GMP-manufactured excipient bases, and integrated quality control software to enable faster, safer preparation of customized medications.
Digital HealthHealthtechMedical DevicesHelsinki, FI
Charlotta TopeliusNiklas Sandler Topelius
Co-investorsHealthCapLifeline Ventures
Cytovation develops immunotherapy for cancer patients using novel peptide engineering to direct the immune system against solid tumors.
BiotechHealthtech
FarmInsect provides farmers with modular insect-rearing systems and a weekly young-larvae subscription to produce insect protein on-farm as part of a regional circular-economy cycle.
AgTechCircular EconomyFoodTech
Sandwater portfolio company (Series A).
Combining data transparency and visualization
Delivering temporary buildings and structures
Mantle8 is a natural hydrogen exploration company developing proprietary geoscience technology—including its GeoLogix prospect-generation algorithm and HOREX multiphysics imaging—to locate and quantify naturally occurring hydrogen resources.
CleantechClimate TechDeep TechEnergy
Emmanuel Masini(Founder)in
Co-investorsBreakthrough Energy VenturesKiko VenturesWind Venture
Nofence provides a virtual fencing system for livestock, using solar-powered GPS collars and a mobile app that let farmers set and adjust grazing boundaries, track animals, and receive alerts without physical fences.
AgTechHardwareIoT
Co-investorsClimate Innovation CapitalEuropean Circular Bioeconomy FundMomentum
Salient Energy manufactures zinc and manganese batteries for electricity storage, providing an alternative to lithium-ion with lower costs and reduced environmental impact from mining and manufacturing.
CleantechClimate TechEnergyNew MaterialsDartmouth, CA
Ryan Brown(Cofounder)
Co-investorsTechstarsVoLo Earth Ventures
Soil Capital runs a regenerative agriculture program that rewards farmers for carbon-storing practices, connecting them with companies seeking to reduce supply chain emissions and reach net zero.
AgTechClimate TechImpact & Social Good
Co-investorsRing Capital
Turbulent Flux develops flow simulation software focused on scalability, flexibility, and cost efficiency.
Deep TechEnergySaaSOslo, NO
Gjermund Weisz(Founder)
Health data/impact company behind the 'brite' product (formerly ImpactMonitor).
Portfolio news
latest coverage across their companiesAlva Industries · arcticstartup.com · Aug 20, 2026
CurifyLabs · mobihealthnews.com · Jul 7, 2026
Salient Energy · trysignalbase.com · Mar 24, 2026
1X Technologies · techstartups.com · Sep 24, 2025
Frequently asked questions
- How many investments has Sandwater made?
- Sandwater has 24 tracked investments.
- What stage does Sandwater invest at?
- Sandwater invests at the Seed, Series A, Series B stages.
- What is Sandwater's typical check size?
- Sandwater typically writes checks of $2.2M – $11M.
- What sectors does Sandwater focus on?
- Sandwater focuses on Advanced Manufacturing, AgTech, Biotech, Cleantech, Climate Tech, Construction Tech, Consumer, Deep Tech, Defense Tech, EdTech, Energy, Enterprise Software, FemTech, FoodTech, Healthtech, New Materials, PropTech, Robotics, SaaS, Sector Agnostic.
- Where is Sandwater located?
- Sandwater is headquartered in Oslo, NO.
- Does Sandwater lead rounds?
- Yes, Sandwater leads investment rounds.
- Who does Sandwater co-invest with?
- Sandwater most often shares deals with Breakthrough Energy Ventures, Innovestor Ventures, Lifeline Ventures, among 30 tracked co-investors.
Media · Podcasts & interviews
featuring the teamTom Even Mortensen | Building Sandwater, Investment Philosophy, Leadership & Culture | Vonheim #152
Christopher Vonheim · Tom Even Mortensen
Images
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