Innovation Norway fuels Auk's growth

The company has almost 200,000 customers worldwide, with exports accounting for 84 per cent of sales. It is growing rapidly and increased its revenue from NOK 40 million in 2023 to NOK 248 million in 2025. The company expects strong growth this year too. Its largest market is the US, followed by the UK and Scandinavia.

Taking root and growing worldwide

Auk will use the loans to build up inventory and support international growth. The company currently holds stock in five countries. Auk prioritises local, sustainable materials, including Norwegian raw aluminium, German timber such as pine and walnut, and bioplastics from Europe. The packaging is plastic-free and recyclable.

'Auk is a fascinating Norwegian product featuring proprietary technology and high-quality design. The company targets customers looking for a premium product who are willing to pay for it. We believe this is the right strategy for a Norwegian scaleup, and we are delighted to help fund its continued growth,' says Håkon Haugli, CEO of Innovation Norway.

Auk CEO Didrik Dimmen is delighted with the funding from Innovation Norway: ‘Growth capital is in short supply in Norway, but the loans we receive from Innovation Norway are a bright spot. The application process was quick, the terms were straightforward, and the funding has been a tremendous help to Auk at a critical stage in our scaleup journey.’

Guarantee from the European Investment Fund (EIF)

We have granted Auk Eco an innovation loan of NOK 22 million, with a 50 per cent guarantee from the EIF, and an innovation loan of NOK 8 million, with an EIF guarantee covering 70 per cent of the amount.