Norrsken Foundation's €300 Million Bet on AI for Good: A New Dawn for Global Challenges
June 25, 2025, 6:50 pm
In a world grappling with monumental challenges, the Norrsken Foundation has thrown down a gauntlet. The Stockholm-based organization has committed €300 million to invest in European startups harnessing artificial intelligence (AI) to tackle pressing global issues. This initiative is not just a financial move; it’s a clarion call for a new era of technology—one that prioritizes humanity over mere profit.
The Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth in 2017, has always aimed to marry purpose with profit. Its latest venture is a bold step into the realm of “AI for good.” The foundation's funds will be drawn from its collective liquidity pool, which includes Norrsken VC, Accelerator, and Launcher. This money is earmarked for startups that align with the United Nations Sustainable Development Goals (SDGs), ensuring that investments are not only profitable but also impactful.
The foundation's commitment comes at a time when AI is often seen as a double-edged sword. On one side, it promises efficiency and innovation; on the other, it risks perpetuating existing inequalities and creating new problems. Norrsken recognizes this tension. In an open letter, they emphasized that while AI is a powerful tool, its current applications often fall short. Too much focus has been placed on optimizing clicks and automating mundane tasks. The real potential of AI lies in its ability to address fundamental human needs.
In 2024, AI startups attracted over €94.8 billion in venture capital, accounting for nearly one-third of all global VC investments. This surge signals a gold rush mentality, with investors eager to capitalize on the latest tech wave. However, Norrsken warns that this frenzy could lead to a familiar pitfall: the majority of today’s AI startups may not survive. History suggests that around 80% of them will fade away, leaving only those that tackle real-world problems and create lasting value.
Norrsken’s vision is clear. They believe the next wave of trillion-euro companies will not just be technologically advanced but will also address humanity’s most urgent challenges. This perspective is grounded in a simple yet profound idea: the biggest returns come from fixing the biggest problems. AI has the potential to revolutionize various sectors, from healthcare to agriculture, but only if it is directed toward meaningful solutions.
Consider the possibilities. AI can optimize energy grids, accelerate drug development, and detect illnesses at earlier stages. It can transform agriculture by reducing food waste and increasing efficiency. The potential applications are vast, yet many startups are still chasing the familiar paths of productivity hacks and convenience-driven tools. Norrsken aims to redirect this focus toward solving complex issues that have long been deemed too difficult or costly to tackle.
Startups within the Norrsken portfolio are already demonstrating the transformative power of AI. Companies like Juna.ai, Quadrivia, Submer, and Evroc are not just innovative; they are paving the way for a broader movement. These ventures are working to make heavy industries more efficient, streamline clinical workflows, and reduce the carbon footprint of AI infrastructure. They represent the early wave of a new paradigm—one where technology serves humanity rather than the other way around.
Norrsken’s approach is a reminder that the path to progress is not always linear. The foundation is acutely aware of the environmental fallout from past industrial growth. They urge caution, advocating for a philosophy of “move fast and fix things” rather than “move fast and break things.” This mindset is crucial as we navigate the complexities of AI and its implications for society.
The Norrsken Foundation’s commitment to AI for good is a beacon of hope in a landscape often dominated by short-term thinking. By investing in startups that prioritize sustainability and social impact, they are not just funding businesses; they are fostering a movement. This initiative could redefine the relationship between technology and society, creating a future where innovation is synonymous with responsibility.
As we stand on the brink of this new era, the stakes are high. The choices made today will shape the world of tomorrow. Norrsken’s €300 million investment is more than just capital; it’s a vision for a better future. It’s a call to action for entrepreneurs, investors, and society at large to harness the power of AI to address the challenges that matter most.
In conclusion, the Norrsken Foundation’s initiative is a bold statement in the face of uncertainty. It challenges the status quo and invites us to rethink our approach to technology. The foundation believes that with the right support, AI can be a force for good. It can solve problems that have long plagued humanity. As we move forward, let’s hope that this vision becomes a reality, paving the way for a brighter, more equitable future.
The Norrsken Foundation, founded by Klarna co-founder Niklas Adalberth in 2017, has always aimed to marry purpose with profit. Its latest venture is a bold step into the realm of “AI for good.” The foundation's funds will be drawn from its collective liquidity pool, which includes Norrsken VC, Accelerator, and Launcher. This money is earmarked for startups that align with the United Nations Sustainable Development Goals (SDGs), ensuring that investments are not only profitable but also impactful.
The foundation's commitment comes at a time when AI is often seen as a double-edged sword. On one side, it promises efficiency and innovation; on the other, it risks perpetuating existing inequalities and creating new problems. Norrsken recognizes this tension. In an open letter, they emphasized that while AI is a powerful tool, its current applications often fall short. Too much focus has been placed on optimizing clicks and automating mundane tasks. The real potential of AI lies in its ability to address fundamental human needs.
In 2024, AI startups attracted over €94.8 billion in venture capital, accounting for nearly one-third of all global VC investments. This surge signals a gold rush mentality, with investors eager to capitalize on the latest tech wave. However, Norrsken warns that this frenzy could lead to a familiar pitfall: the majority of today’s AI startups may not survive. History suggests that around 80% of them will fade away, leaving only those that tackle real-world problems and create lasting value.
Norrsken’s vision is clear. They believe the next wave of trillion-euro companies will not just be technologically advanced but will also address humanity’s most urgent challenges. This perspective is grounded in a simple yet profound idea: the biggest returns come from fixing the biggest problems. AI has the potential to revolutionize various sectors, from healthcare to agriculture, but only if it is directed toward meaningful solutions.
Consider the possibilities. AI can optimize energy grids, accelerate drug development, and detect illnesses at earlier stages. It can transform agriculture by reducing food waste and increasing efficiency. The potential applications are vast, yet many startups are still chasing the familiar paths of productivity hacks and convenience-driven tools. Norrsken aims to redirect this focus toward solving complex issues that have long been deemed too difficult or costly to tackle.
Startups within the Norrsken portfolio are already demonstrating the transformative power of AI. Companies like Juna.ai, Quadrivia, Submer, and Evroc are not just innovative; they are paving the way for a broader movement. These ventures are working to make heavy industries more efficient, streamline clinical workflows, and reduce the carbon footprint of AI infrastructure. They represent the early wave of a new paradigm—one where technology serves humanity rather than the other way around.
Norrsken’s approach is a reminder that the path to progress is not always linear. The foundation is acutely aware of the environmental fallout from past industrial growth. They urge caution, advocating for a philosophy of “move fast and fix things” rather than “move fast and break things.” This mindset is crucial as we navigate the complexities of AI and its implications for society.
The Norrsken Foundation’s commitment to AI for good is a beacon of hope in a landscape often dominated by short-term thinking. By investing in startups that prioritize sustainability and social impact, they are not just funding businesses; they are fostering a movement. This initiative could redefine the relationship between technology and society, creating a future where innovation is synonymous with responsibility.
As we stand on the brink of this new era, the stakes are high. The choices made today will shape the world of tomorrow. Norrsken’s €300 million investment is more than just capital; it’s a vision for a better future. It’s a call to action for entrepreneurs, investors, and society at large to harness the power of AI to address the challenges that matter most.
In conclusion, the Norrsken Foundation’s initiative is a bold statement in the face of uncertainty. It challenges the status quo and invites us to rethink our approach to technology. The foundation believes that with the right support, AI can be a force for good. It can solve problems that have long plagued humanity. As we move forward, let’s hope that this vision becomes a reality, paving the way for a brighter, more equitable future.