The Venture Codex

Led · Series A · May 2026

Muybridge develops a software-defined imaging platform that replaces traditional broadcast camera infrastructure with compact arrays of 4K sensors and GPU-powered systems to create virtual camera perspectives in real time. Its platform aims to reduce operational complexity and physical limitations of conventional broadcast production and enable deployment in environments where traditional camera systems are difficult to install. Over the past year the company completed deployments across a range of global sports properties, including European football leagues, the US Open and ATP Tour tennis, the NBA, NHL, PGA Tour golf, rugby and Premier Padel. Muybridge's commercial strategy emphasizes partnerships with technology providers, managed service providers and system integrators. The company also sees potential applications beyond sports in live entertainment, security infrastructure, physical AI and autonomous systems. The recent $16M Series A will fund international expansion, scaling of the commercial organisation, and further development of its imaging technology platform.

Led · Equity · Mar 2026

Heimdall Power develops and sells sensor balls designed to monitor and optimize electric power grids, with technology the company says can increase existing grid capacity by 20–40 percent. The solution has opened doors to the U.S. market and large grid-infrastructure support packages, and management is positioning the company to win multi‑million dollar contracts there. Heimdall has delivered systems to 50 customers in 21 countries, including state operators in Norway, Ireland and the U.K. The company has grown revenue at about 135 percent annually in recent years but remains unprofitable with an accumulated deficit exceeding NOK 200 million. Heimdall was valued at NOK 700 million in the latest financing, up from roughly NOK 500 million in 2021. The new capital is intended to scale operations and accelerate the path to expected profitability in 2027 or 2028.

Participated · Equity · Sep 2025

Oslo-based Sonair has built an acoustic detection and ranging (ADAR) sensor that emits high-frequency ultrasound and processes the returning echoes to create a three-dimensional map of nearby objects. The company positions its technology as a complementary alternative to LIDAR, arguing that filling a room with sound offers richer, more reliable depth data than a single laser sweep. Released earlier this year, the sensor outputs data in standard robotics formats, allowing straightforward integration with existing hardware and software stacks. Robotics manufacturers are already planning to embed the sensor in upcoming models, and industrial customers are using it to automatically shut down heavy machinery when people enter restricted zones. Sonair currently faces little direct competition in sonar-based robotic perception but anticipates new entrants as safety standards tighten. Management’s long-term vision is to make its sensor as ubiquitous as cameras in autonomous systems. Although no revenue or user figures were disclosed, the firm is entering a scale-up phase backed by fresh capital.

Participated · Equity · Aug 2025

Planktonic develops and produces CryoPlankton, a patented frozen feed used to feed larvae of fish and crustaceans. The company emphasizes high biosafety and improved larval survival rates. Its products are already used at more than 40 hatcheries across Europe, Asia and the Middle East. Planktonic is based in Trøndelag and plans to expand and upgrade production facilities in Trondheim. The firm is targeting growth in markets for major marine species, notably sea bass and sea bream.

Participated · Equity · Jul 2025

Two is an Oslo-based B2B payments platform founded in 2021 that provides instant upfront payments to sellers, flexible net terms for buyers, and AI-driven fraud prevention. Its fully productised infrastructure includes proprietary risk engines Frida and Delphi, a business onboarding solution, and embedded deferred payment features tailored for B2B transactions. The platform has been adopted by more than 200 merchants across the Nordics and Europe and has secured partnerships with Visa, ABN AMRO, Qliro, Avarda, and Wikinggruppen. Two projects more than 150% year-over-year growth in revenue and payment volume for 2025. The company reports rapid adoption across both large enterprises and SMEs and aims to deliver a consumer-like checkout experience for business buyers. The new capital will be used to scale the product and support expansion into the US and select Western European markets. Two builds a digital checkout for B2B net terms, turning paper-driven invoice processes into an instant online purchase flow that underwrites credit, verifies identity, and handles fraud risk. The product offers a no-code solution for small businesses and an API for medium and large merchants to integrate into existing order flows. Two says buyers can complete purchases and be onboarded as customers in about 30 seconds. The company launched its product in Q2 2021 and reports growing 243% quarterly since. Two was founded in 2020 and operates as a remote company with about 70 employees distributed worldwide. Financially, the company has raised a total of €28 million to date.