Norway’s RunwayVC has locked in a €40 million first close for its second fund, signaling strong investor confidence in industrial technology startups across Europe. The Oslo-based firm, known for its sharp focus on hardware and deep tech, is now poised to back innovators transforming traditional industries.

Key facts

  • First close: €40 million
  • Fund name: RunwayVC Fund II
  • Focus: Industrial technology startups
  • Lead investors: Investinor, family offices

Fueling the next industrial revolution

RunwayVC isn’t chasing software unicorns. Instead, it’s betting on startups building tangible solutions—think robotics, energy efficiency, and smart manufacturing. These are companies that get their hands dirty, literally and figuratively, and they often need patient capital to scale.

Investor confidence remains strong

Despite economic headwinds, limited partners are still writing checks for funds with a clear thesis. Investinor, Norway’s state-owned investment vehicle, has thrown its weight behind RunwayVC again, alongside several family offices. That kind of backing speaks volumes about the firm’s track record and the sector’s potential.

What’s next for RunwayVC

With this first close secured, the team can start deploying capital into promising startups. Expect to see deals in the coming months, likely targeting seed and Series A rounds. For founders in industrial tech, this is welcome news—a specialist fund that understands their unique challenges and opportunities.