Observed Signal · Aug 24, 2026 · Funding · Source: EU-Startups · Impact: 1/5 · Sentiment: Positive
Norway's RunwayVC Reaches €40 Million First Close for Fund II
Norwegian early-stage venture capital firm RunwayVC has secured a €40 million first close for its second fund, Fund II, targeting pre-seed to Series A startups in northern Europe. The fund focuses on industrial AI, software, robotics, and autonomous systems. Backed by continuing cornerstone investor Aker, Fund II has also secured commitments from new limited partners (LPs) including Halliburton, Aker BP, Aker Solutions, KLP, and Investinor, alongside several industrial families. Fund II plans to make approximately 20 investments over the next three to five years, typically committing between NOK 5 million and NOK 10 million initially. The fund has already completed its first two investments, backing Minerva Humanoids and physical AI company HIVE Autonomy.
Details a venture capital fund raising €40 million to invest in industrial AI, robotics, and automation; has low direct impact on the primary advertising technology sector, but tracks AI-related investment trends.
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Key Takeaways & Evidence Grounding
- RunwayVC achieved a €40 million first close for Fund II to invest in industrial AI, robotics, and automation.
- Aker acts as the cornerstone investor, joined by new LPs Halliburton, Aker BP, Aker Solutions, KLP, and Investinor.
- The fund plans to complete approximately 20 investments over the next three to five years.
- Initial investments will typically range from NOK 5 million to NOK 10 million.
- The fund has already deployed capital into Minerva Humanoids and HIVE Autonomy.
Connected Companies & Entities
2 Entities mapped“New LPs in Fund II include Halliburton, Aker BP and Aker Solutions, alongside KLP, Norway’s largest pension company, and state-owned Investi...”
“Through companies such as Cognite and Nscale, we have seen how new technology creates opportunities and value when combined with deep indust...”
Ontology Mapping & Concepts
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