Opportunities in learning technology and Edtech
Norwegian edtech is growing fast and enjoying a good reputation internationally. In just a few years, the industry accounts for more than 80 Norwegian companies with edtech at its core and over 100 million users worldwide. Most Norwegian edtech is built on game-based solutions and big data that promote adaptive learning. To further the sector, Oslo Edtech Cluster is now an integrated part of ICT-Norway and supports the development, commercialization, and export of Norwegian educational technologies.
Norway has quickly and successfully adapted to homeschooling in a large part due to its highly digitalized school system. Norwegian companies are helping teachers and students to cope with the digital learning environment by offering online quizzes, eBooks, and new, digital teaching methods. Some edtech companies have seen the number of users increase more than tenfold.
Seventeen percent of all edtech investments in Europe go to the Nordics, according to Brighteye Ventures. In Norway, investments are at an all-time high with education as the third largest vertical measured in single investments made. It's not surprising as Norwegians have a track record as early adopters of new technologies. Also, easy access to decision makers makes Norway a good testing ground for edtech startups.
Three promising companies from Oslo:
- Attensi, an Oslo–based provider of a corporate Learning and Development (L&D) technology platform, raised €29.5m in funding. Backers included Lugard Road Capital, DX Ventures, and an existing shareholder Viking Venture. The company intends to use the funds to extend its presence in North America and Europe and to expand upon its product suite and technology platform in gamified simulations. So far, the company has delivered gamified simulation training in more than 100 countries in 20 languages. (Photo: Anne Lise Waal - Attensi)
- No Isolation is working to reduce loneliness and social isolation by developing warm technology. They are Oslo-based and have additional offices in London and Munich. They connect people through warm technology and knowledge-sharing regardless of technological skills. According to Dealroom data, No Isolation has funding of €8.8m.
- Kahoot! is a Norwegian game-based learning platform for skills training and professional development. They have over 50 million monthly active users monthly and offers services in 15+ languages. According to Dealroom, they have a total funding of €274m.
Dealroom Facts & Numbers
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Tonje ØrnholtHead of Investment