From million-kroner loans to billion-kroner growth: This funding accelerates Norwegian businesses

One of them is Zivid. The Oslo-based company is preparing to take a leading position in the global market with its unique Norwegian solution. Founded by two SINTEF researchers in 2015, the company has developed specialised cameras and software that enable robots to 'see' in 3D.

Zivid recently signed a contract with a global leader in robotics, which is expected to be worth NOK 1 billion over five years.

'Looking ahead to 2030, our goal is to lead the world in vision systems for robots that pick, sort and pack goods in warehouses,' says CEO Thomas Embla Bonnerud.

With 100 employees and revenue of NOK 100 million last year, they have undoubtedly come a long way. But as they see it, their journey has only just begun.

‘This is one of the hottest markets right now, and it is still in its infancy. There is no doubt that goods handling is moving towards “no hands”. Machine vision is the vital link between the physical and digital worlds. We will deliver tens of thousands of cameras of this kind,’ says Bonnerud.

In December, Zivid received a NOK 30 million growth loan – an innovation loan that gives companies more working capital to accelerate their growth in international markets. We have previously provided Zivid with startup funding, grants for technology development, innovation loans and competence-building services.

He points out that their products are 'deep tech', which require considerable time and resources to develop.

– That makes our funding opportunities absolutely essential.

Producing and delivering hardware also requires significant working capital.

‘We have to pay for the components long before we sell the products, we need to hold stock, and our customers have payment terms. The funding we receive from Innovation Norway for scaling and working capital allows us to use our equity in other ways that support future growth and success.’

Zivid builds on Norway's industrial heritage, with employees who have worked at Tandberg and other global companies. Design, software development and sales all take place in Norway, as does production, which has now moved back from Latvia.

'Norwegian companies can manufacture this type of hardware competitively. It is also secure and has a positive impact on Norwegian industry,' he points out.

In Innherred, Trøndelag, Berika is also preparing for growth. The company is building a new slaughterhouse that will improve both productivity and animal welfare. Construction began in 2024, and the new slaughterhouse will be ready during 2026.

'The new slaughterhouse has been made possible through joint financing from us and SpareBank 1 SMN, in partnership with Berg Eiendom,' says Vidar Kjesbu, Executive Chair of Berika.

They received NOK 40 million in low-risk loans and NOK 39 million in innovation loans in 2024.

‘All our partners have great confidence in the project. The new abattoir will safeguard farmers, employees and the agricultural sector, and represents a bold investment in the industry in the region,’ says Kjesbu.

Leon Bakkebø, EVP of Financing at Innovation Norway, highlights Zivid and Berika as strong examples of just how crucial our financing solutions are.

When Norwegian companies want to grow, adapt or innovate, they need more than good ideas. They also need fit-for-purpose funding, long-term partners and support to reduce risk. We are with you throughout the journey, from small steps to major breakthroughs.