Four venture funds and a number of angel investors originating in the Connect BAN investor network in Rogaland, are all together around Nivel in this early-stage investment, in order to accelerate further growth in the Norwegian govtech startup. Nivel delivers software that helps cities get the best out of new micromobility services through dynamic, digital regulation.
- This gives us good speed into 2022, says CEO and co-founder Harald Sævareid. He is one of four partners in the company that was founded in 2019.
- In 2021, we demonstrated that we could help Bergen get its electric scooters in order with our digital regulation tool - and that we could scale the tool to other cities such as Sarpsborg and Ålesund, says co-founder Mathias Molden.
Nivel is now focusing on signing the first contracts in Europe and is receiving great interest in the solution. Everyone recognises the problems with e-scooters that are not regulated, and when they understand that Nivel can help cities get the best out of these new modes of transport, the commitment increases.
Elisabeth Øvstebø from the Stavanger-based VC fund Link Venture Capital, took early a seat on the board, and has been instrumental in the fact that both they and other venture funds such as Vyrd and GC Rieber GROWIT have contributed with six figured investments (EUR). ProVenture also entered early with a convertible loan. These are long-term investors and who are also ready to participate in upcoming rounds of investments.
- These entrepreneurs have achieved an incredible amount in a short time, have paying customers and have a great understanding of the market in which they operate, she says.
- Investors from all over the Norwegian West Coast are involved in this investment, and we look forward to following and supporting this journey, says Janicke Allers from Gefyl Invest.
She joins as several investors in the investor network Connect BAN, together with Sprettert, Finefront Invest, Stortind Holding, Soleklar Holding, 3 Sverd Invest, Oroco and Baker, Bon & Skrabe.
Sindre Kvalheim from VYRD also joins the board:
We have considered several investment cases along the coast over the past year. In Nivel we have found founders with implementation ability, expertise and a product we have great faith in. We see great potential for this product both nationally and internationally, also beyond the regulation of electric scooters.
Nivel has already committed resources to support further expansion and in the future will actively look for competent people in data analysis, backend development, digital marketing and sales to Europe.
We have loads of new functionality on the road map, which we will develop in close collaboration with cities and operators, through 2022 and beyond, says Sævareid.