Oslo

Funding into Oslo startups has grown nearly tenfold over the past five years, reaching $433M in 2025. With $244M raised in the first 9 months of 2026, the full year is on track to land at $325M, a -25% change versus 2025. The chart below shows annual funding totals; the latest year is annualised from observed-to-date data and represents the renderer's projection, not a closed quarter.

Yearly totals mask the quarter-by-quarter rhythm. The chart below shows Oslo startups funding raised in each of the last 21 complete quarters through Q3 2026. All bars are actual closed-quarter sums, no projections, no in-progress quarters.

Oslo's share of Norwegian venture capital tracks how much of Norway's startup capital lands in this market. In 2016, Oslo startups accounted for 63.6% of Norwegian VC funding; by 2026 the share had reached 60.4%. The chart below splits each year's total Norwegian VC funding into Oslo on the bottom and the rest of the market on top.

How capital deployed into Oslo startups is split across round sizes. In the trailing four quarters, 0% of capital landed in scaleup ($100M+) rounds, 56% in breakout ($15–100M), and 44% across startups (under $15M). Each panel below stacks the canonical sub-bands across Q3 2022 → Q3 2026.

The most active investors in Oslo startups ranked by the number of disclosed VC rounds they've participated in. Antler leads with 96 rounds, followed by StartupLab at 71. The table shows the top ten with their firm type, the rounds they've joined and the companies they've backed here (follow-on rounds make the first larger), and headquarters.

Two views of leadership in Oslo startups: the most-funded companies all-time on the left, and the hottest companies right now by Dealroom Signal on the right. Total-funding figures include all capital sources tracked by Dealroom (VC plus grants, project finance, and other instruments). Signal is Dealroom's live growth ranking, these are the firms with the strongest recent momentum across team, timing, growth, and completeness.

In 2026 Q1-3 (year to date), the largest VC rounds in Oslo startups reveal where capital is consolidating. The table below lists the 15 biggest rounds by amount, with date, company, round type, and lead investors; rounds without a public amount sit at the bottom with the amount left blank. Exits sit in the Unicorns & Exits section.

Oslo startups have minted 12 unicorns to date. Dealroom defines a unicorn as a company that has reached a $1B+ valuation or exit (verified and manually reviewed; other lists use different criteria, this is ours). Of those, 1 is a decacorn at a $10B+ valuation: Visma. The ecosystem also counts 16 thoroughbreds: companies generating $100M+ in revenue (a separate lens from unicorns, with some overlap). The chart below shows the cumulative count climbing each year, with the line tracking new unicorns minted in that year, peaking at 4 in 2020. On exits, the sector has produced 106 tracked exits since 2019 representing $16.1B in disclosed value. Notable exits in the data include Visma ($12.2B, 2020), followed by Kahoot! ($1.7B, 2023), Kahoot! ($500M, 2019).

Entrepreneurship is a power law. Of every Oslo startup founded, only a fraction attract venture capital, and far fewer climb each successive funding level. This funnel traces VC-backed Oslo startups from first cheque through to the rarest valuation outcomes. Mouth figures are annual means (2010–2024); pool stages count VC-backed companies founded since 1990 by total funding.