Fossefall builds and operates so-called "AI-factories," data-center complexes that integrate infrastructure with advanced AI processing hardware. The company aims to scale to as much as 1,000 megawatts of capacity across Norway, Sweden, and Finland by 2030 and is currently evaluating more than 50 Nordic locations. Founded by four entrepreneurs roughly a year ago with an initial 20 million NOK, Fossefall has rapidly advanced its project pipeline and secured strategic advisers Arctic Securities and CBRE. Financially, the company completed a 500 million NOK Series A that values it at about 2.5 billion NOK post-money. Planned near-term projects include a data center in Fyresdal, Telemark, for which the Series A will help fund the equity share, while remaining proceeds will support development of the broader portfolio. The company has indicated it may pursue a Series B to further expand its AI-infrastructure platform.

Total raised

$56M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2026