In a groundbreaking move, the Stockholm-based Norrsken Foundation has pledged €300 million ($348 million) to support European startups leveraging artificial intelligence (AI) for positive societal impact. Announced on June 25, 2025, this initiative aims to address pressing global challenges in areas such as climate, health, education, food security, and societal well-being.
Founded in 2016 by Klarna co-founder Niklas Adalberth, Norrsken Foundation has established itself as a key player in impact investing. Through its venture capital arm, Norrsken VC, the foundation manages over $1 billion in assets across various funds, focusing on startups that combine innovation with purpose.
The €300 million commitment is specifically earmarked for 'AI for good' projects, highlighting the transformative potential of AI beyond mere productivity gains. Agate Freimane, General Partner at Norrsken VC, emphasized, 'AI is not just another productivity boost, it's a real chance to fix what truly matters.'
This investment positions Norrsken as a leader in fostering ethical and impactful AI development in Europe. The foundation aims to back startups that are at the forefront of solving critical issues, ensuring that technological advancements contribute to a sustainable and equitable future.
With Europe emerging as a hub for AI innovation, Norrsken’s funding is expected to catalyze growth in the sector, attracting more talent and resources to impact-driven projects. The initiative also underscores the growing importance of aligning technology with societal benefits, a trend gaining traction among investors and entrepreneurs alike.
As Norrsken rolls out this substantial fund, the global startup ecosystem watches closely, anticipating the ripple effects of this investment in shaping the future of AI. European startups now have a unique opportunity to scale their solutions and make a tangible difference in the world.
Maria Lourdes
