Investors / Norway / Sandwater
Sandwater
Venture capital · Oslo, Norway · Europe
Sandwater is a venture capital firm that invests in early-stage companies and supports them through scaling. It manages €400M in assets and typically makes initial investments of €2M to €10M, leading or joining rounds.
Invests inAI & Machine LearningIndustrial & ManufacturingHealthcare & Biotech
In its own wordsresource efficiencyenergy transitionproductivityresiliencedeep techartificial intelligence
Your fit with Sandwater
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See how your round matches what it backs, point by point.
Or find every investor that fitsSandwater lists 20 checked portfolio companies on its own site and is named in 5 funding rounds, 3 of them as lead. Its most frequent entry is Series A, 60% of the companies with a known first round. Its largest themes are AI & Machine Learning (29%), Industrial & Manufacturing (18%) and Healthcare & Biotech (18%). 41% of its companies are based in Norway. It invests most often alongside Alliance VC, 115K and 2050.
Counts come from funding rounds that name Sandwater, complete from mid-2025: earlier rounds appear only when they were reported later. Round amounts and full round histories are on Fundup AI.
Round figures show recent activity, not Sandwater's whole history. Rounds on record name 5 companies; its own site lists 20. Funding rounds are complete from mid-2025, so counts and the yearly trend undercount a firm that invested before then. The portfolio, themes and places come from its own site and are not affected.
Entry stage
share of companies by the stage of its first roundShow as a table
| Value | |
|---|---|
| Pre-seed | 0% |
| Seed | 20% |
| Series A | 60% |
| Series B | 20% |
| Growth | 0% |
Activity by year
rounds it joined, last 10 yearsShow as a table
| Total | Rounds it led | |
|---|---|---|
| '17 | 0 | 0 |
| '18 | 0 | 0 |
| '19 | 0 | 0 |
| '20 | 0 | 0 |
| '21 | 0 | 0 |
| '22 | 0 | 0 |
| '23 | 0 | 0 |
| '24 | 0 | 0 |
| '25 | 1 | 0 |
| '26 | 4 | 3 |
Investor profile
percentile among all firmsShow as a table
| Measure | Percentile of all firms | Value |
|---|---|---|
| Portfolio size | 51th | 20 companies |
| Recent activity | 82th | 4 rounds in 12 months |
| Early stage | 58th | 20% of entries at pre-seed or seed |
| Evidence | 95th | 25% of companies confirmed by a round |
| Sector focus | 50th | 29% in its largest sector |
| Reach | 93th | 9 countries |
Investment themes
share of its checked companiesThis firmAll checked companies
Show as a table
| This firm | All checked companies | |
|---|---|---|
| AI & Machine Learning | 29% | 18% |
| Industrial & Manufacturing | 18% | 7% |
| Healthcare & Biotech | 18% | 15% |
| Education | 12% | 7% |
| Robotics & Hardware | 9% | 1% |
| Climate & Energy | 3% | 1% |
| Enterprise Software | 3% | 8% |
| Fintech | 3% | 12% |
Invests most often with
firms sharing its portfolio companies
Amazon Industrial Innovation Fund
1Show as a table
| Share | |
|---|---|
| Alliance VC | 2 |
| 115K | 1 |
| 2050 | 1 |
| AQAL Capital | 1 |
| Alven | 1 |
| Amazon Industrial Innovation Fund | 1 |
| Bayern Kapital | 1 |
| Breakthrough Energy Ventures | 1 |
Its portfolio companies
where they are based, and what their own sites showSite status
- Site answers20100%
- No longer answers00%
- Points to another company00%
- Parked or sold domain00%
A site that stops answering three checks in a row is counted as no longer answering; that is not proof of closure. A site that points to another company is often an acquisition.
Co-investor network
who it backs companies with, and who they back togetherCompare Sandwater head to head
portfolio size, rounds, entry stages, themes and the companies both backvs Amazon Industrial Innovation Fund1 shared company→Three or more firms at once: portfolio overlap.
Funds
from public registers and its siteRecent portfolio activity
when companies last raised with Sandwater| Date | Company | Stage |
|---|---|---|
| 6 Jul 2026 | Series A Led | |
| 2 Jul 2026 | Series A Led | |
| 13 May 2026 | Series A Led | |
| 7 Apr 2026 | Seed | |
| 17 Sept 2025 | Series B |
Round details for Sandwater
Amounts, full round histories and every co-investor in Sandwater's rounds are on Fundup AI. VCinfo covers investors and their portfolios.
Portfolio
20 companies checked against their own sites| Company | What it does | Themes | First round with it | Evidence |
|---|---|---|---|---|
| The company produces home robots. | Robotics & Hardware | Portfolio page | ||
| ALVA Industries develops and manufactures next-generation electric motor technology for various industries. | Industrial & ManufacturingAI & Machine Learning | Jul 2026Series A | Page + round | |
| The company develops and operates biogas and fertilizer plants, utilizing its own reactor technology to produce green energy, biofertilizer, and other products. | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| CardioSignal develops a medical device on a smartphone to detect signs of atrial fibrillation | Healthcare & Biotech | Portfolio page | ||
| Local governments use the ClimateView Platform to plan, execute and track effective climate action across their jurisdictions. | EducationClimate & Energy | Portfolio page | ||
| CMR Surgical develops and engineers surgical robots, including the Versius Plus, for robotic-assisted surgery. | Healthcare & Biotech | Portfolio page | ||
| CurifyLabs develops and provides automated compounding systems for pharmacies to create personalized medicines | Healthcare & BiotechRobotics & Hardware | Jul 2026Series A | Page + round | |
| Cytovation creates transformative medicines for patients with cancer by guiding and stimulating the immune system to recognize and eradicate tumors. | Healthcare & Biotech | Portfolio page | ||
| Enduro Genetics provides bioproduction technology to improve large-scale fermentations for its partner companies | Healthcare & Biotech | Portfolio page | ||
| Filics develops autonomous transport solutions for existing industrial and intralogistics environments. | Industrial & ManufacturingRobotics & Hardware | Portfolio page | ||
| Grunt provides a chart and data layer for AI-built business presentations | AI & Machine LearningEnterprise Software | Portfolio page | ||
| Hallgruppen supplies temporary and permanent buildings and structures worldwide | Industrial & ManufacturingReal Estate & Construction | Portfolio page | ||
| Mantle8 explores and develops natural hydrogen resources using geology, geophysics, and geochemistry data. | EducationIndustrial & Manufacturing | May 2026Series A | Page + round | |
| The company provides virtual fencing for livestock. | AI & Machine LearningAI & Machine Learning | Sept 2025Series B | Page + round | |
| Powall creates powerful powders for batteries, fuel cells, electrolysers and more using nanocoatings | Industrial & ManufacturingEducation | Portfolio page | ||
| Salient Energy makes zinc-ion batteries to store and deliver clean electricity | EducationIndustrial & Manufacturing | Portfolio page | ||
| Soil Capital helps farmers and companies participate in regenerative agriculture for food system resilience and climate action | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| Standard Bio creates valuable biochar based products from bio-waste streams in agriculture and forestry | AI & Machine LearningAI & Machine Learning | Portfolio page | ||
| Wrepit provides financial reporting software for CFO teams | FintechSpace & Defense | Portfolio page | ||
| XO Life provides digital product and therapy support solutions for patients and connects them with experts and pharmaceutical companies | Healthcare & Biotech | Apr 2026Seed | Page + round |
About this data
site last read 5 Nov 2026- Site
- sandwater.com
- Last read
- 5 Nov 2026
- Watching since
- 5 Nov 2026
- Rounds since
- 17 Sept 2025
- Companies checked
- 20
Rates come from what VCinfo has observed since observation_start. Firms tend to remove companies that closed, so early rates understate reality. A company leaving a portfolio page does not mean it closed or exited. An unreachable site means our checks failed, nothing more.
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