Nornir develops a decentralized AI networking invention called the Hive Collective that enables device-level machine learning for smart city and smart asset management use cases. Its technology aims to make devices self-reporting—indicating when they need replacement, who can replace them and when—supporting IoT, 3D models (BIM) and digital-twin workflows. The company positions its product for the rapidly growing smart city and smart-asset market and says autonomous systems will reduce costs and simplify administration. Nornir has been awarded the Seal of Excellence from the EU Horizon 2020 program and is part-financed with a loan from Innovation Norway. Following its recent financing commitment, Nornir plans to scale and implement an international go-to-market strategy.

Total raised

$34M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2021