Are you wondering what we are looking for? What your company can expect both before and after an investment? 
If so, 

If we see a good fit with our mandate we will start analyzing your company, solution or technology in depth. Our investment process involves detailed scrutinization of various elements of the proposed investment prospect. This  includes technology robustness, market relevance and potential value - and 

 A positive outcome of the in-depth analyses could potentially lead to an initial investment from Sarsia.

Sarsia take a long-term perspective when it comes to financing, and prospects are supported through progressive rounds of capitalisation.

A typical first round of investment will be on the order of 2-5 million NOK, for a 10% to 40% ownership stake. If we see ambition and dedication, a realistic development plan and a credible team combined with innovative research or technology, the total investment from Sarsia can, in time, reach 30–40 million NOK.

When we invest, we try our utmost to "get it right first time". This can only take place as a group effort between us and yout team. Working together, we map out a company's development plan, defining the company’s goals and creating a realistic plan for a profitable and sustainable business through a close, respectful collaboration with the company's management. We are active within the various companies in our portfolio, always retaining a position on the board. Our goal is to ensure best decisions being made on the path towards value inflecting milestones ultimately giving a profitable and sustainable business.

Approach

Fresh water is added as part of the feeding process by means of a vacuum-system. The technology is currently being verified in several fish breeding plants, and will potentially increase efficiency and reduce the need for specialized fish feed.

Seafarm Solutions AS

CD47 is a well-validated target - over expressed across many cancer types – solid and hematological

CD47 over expression correlates with poor progression free survival and overall survival prognosis

Addresses on cology opportunities with significant unmet medical needs.

Breast, Lung, Prostate, Bladder, Cervical, Colo-rectal, Head & Neck, Melanoma, Glioblastoma, Lymphoma, Acute, LymphoblasticLeukemia, , Acute, MyeloidLeukemia

Caedo Oncology

The company is now represented outside Norway within the UK, Sweden, US, Ireland and France focusing on its Mole Scanning Service.

ScreenCancer AS

Increases asset utilization and makes sea logistics strategically more relevant, with cargo owners and fright forwarders the primary beneficiaries.

Facilitates transport of cargo in smaller consignments and with greater scheduling flexibility, without increasing overall transportation costs.

Improves communication and transparency between companies in the transportation chain.

Aims to reduce systemic waste allowing lower freight prices for the industry and increased profitability for ship operator.

Aims to reduce emissions by increasing efficiency, ship utilization and reducing ballast runs, as well as providing the cargo owners with tools to choose the most energy efficient routes/ships available.

Keelspot

SERCA Pharmaceuticals AS develops a therapeutic agent for the restriction of IRI based on a new therapeutic strategy. The small molecule candidate acts in a cardioprotective manner to restrict IRI during reperfusion after acute myocardial infarction.

SERCA Pharmaceuticals

Sea-Hawk Navigation AS has developed a revolutionary new radar technology with a performance that defines a new standard in the radar industry. Sea-Hawk’s radar technology delivers a clear and reliable overview of all the objects on the surface even under difficult weather conditions. The system can detect both sea surface and persons in the water even in rough seas and heavy rain. Sea-Hawk can also detect very small objects at high speed and can therefore improve warning capabilities to a new level where it can be relied upon as a real-time monitoring.

Sea-Hawk Navigation AS

The Sailbuoy offers the capabilities of an unmanned surface vehicle which can be used as a new generation system for in-situ near-surface data collection at sea.

Field proven to stay for months at sea, it navigates the oceans autonomously, using only wind power for propulsion and sun power for electronics - transmitting back data at regular intervals. It can be used for a wide variety of ocean applications. From measuring ocean and atmospheric parameters to tracking oil spills or acting as a communication relay station for subsea instrumentation.

Long endurance - capable of navigating for several months at sea

Modular payload accommodating a large variety of sensors

User friendly in deployment, recovery and control

Presents little risk to exiting installations and vessels

Offshore Sensing AS was established in 2014 as a spin-off from Christian Michelsen Research. The technology was developed at CMR since 2005 and is now available as a commercial product.

Offshore sensing 

The drug targets the PCNA/APIM stress switch, a novel intervention point controlling cellular stress responses (e.g. DNA Damage Response). The approach is based on research from the University of Science and Technology, NTNU, Trondheim, and allows for the potentiation of the action of >25 clinical drugs across multiple cancer indications. ATX-101, the company’s current lead, has shown strong preclinical proof-of-efficacy in preclinical models of bladder, breast, multiple myeloma, AML and prostate cancer in combination with several anti-cancer drugs.

APIM Therapeutics AS

The company is a world leader in the use of tools based on Computational Fluid Dynamics (CFD) for wind energy and has over the years established a strong client base including the leading actors in wind power technology. Windsim’s products and technology directly increases the client’s energy production and profits, which explains why it has become one of the central technologies in development and monitoring of wind turbine parks.

Windsim AS

Through our operations and research and engineering, we aim at developing products, services and solutions that optimize performance and reduce cost.

Soiltech

Nykode is a leader in the rapidly developing field of individualized cancer neoantigen vaccines and is using the Nykode technology to generate best-in-class therapeutics to treat cancers with a high unmet medical need. Nykodes front runner program (VB10.16) is a therapeutic DNA vaccine against HPV16 induced pre-malignancies and malignancies.

Nykode

The most common inborn metabolic failure: Incorrect folding of PAH enzyme which results in insufficient phenylalanine degradation. Untreated, this can cause severe brain damage. The condition has been screened by a simple blood test at birth since 1967. Approximately 50,000 are diagnosed with the condition in the western world. Pluvia is addressing a substantial unmet medical need in a vulnerable patient group with very limited alternative options. The company is working with a novel target with the potential to help a large subset of patients, as stand-alone and add-on therapy.

Pluvia

The technology enables flow and fraction metering to be installed on standard process piping without any disturbance to the process. The meters has the accuracy and functionality characterizing in-line flow meters combined with the low cost and mechanical integrity obtained by clamp-on installation. This will reduce the cost of installation of such a meter with more than 90%. One of the first pilot installations is on fuel lines of ships to enable increased fuel control, more efficient operation and less use of fuel and reduced release of greenhouse gasses.

Xsens AS

Knowledge about where the fish are and conditions at different depths gives an unique insight in production. SeaSmarts patented wireless drone measures a complete profile of the cage ever hour, 24/7 for six months on a single battery. Just put it in the cage – it’s that simple.

SeaSmart

The Platform offers full transparency on bid-offer spreads and deals done. The Elcert contracts are cleared via Nasdaq Commodities. GOs are traded in EUR, CHF, DKK, GBP, NOK, SEK.

Green Power Hub

The fluid developed by SonoClear® has acoustic properties similar to brain tissue. This simple property, simulating the damping of acoustic waves in brain tissue, allows SonoClear to effectively eliminate image artifacts in resection cavities. At the final part of the operation when the image quality is most important SonoClear removes uncertainties and enhances the ultrasound image quality so that surgeons can trust the images they see and make better decisions.

SonoClear

Trisense delivers Monitoring-as-a-Service for process plants, with a particular focus on predicting corrosion under insulation (CUI). The technology is certified at the highest TRL level, and ready for full-scale rollout. The battery life of the ex-certified sensors is 15 years+, and they communicate wirelessly with 4G/5G so there is no need for additional infrastructure. In addition, they have a simple and patented attachment that makes installation significantly less expensive than other solutions. 

The value creation if you can postpone costly process plant maintenance through monitoring of corrosion is huge , and correspondingly the enviromental and climate effect is substantial due to both fewer dangerous incidents and also kilometers of pipes and insulation that you do not have to discard at each plant.

Trisense AS

Zooms in on the voice the user wants to hear – «hear what you see».

Use wireless transmittion of high quality sound (ear buds).

OculAudio

The instrument uses changes in skin conductivity as an indicator of perceived pain. Such pain measurements are relevant in medical treatment of humans under anaesthesia, for post-operative monitoring, for the prematurely born and for those with chronic pain. It is similarly applicable in veterinary medicine. The product is fully developed and commercially available.

Medstorm Innovation AS

Ranked as #1 of all (100) electricity retailers by the customers at Bytt.no 

PDS2 payment license which opens for new services and simplicity

One of the fastest growing power suppliers in the Norwegian market

Elekt and Strømpriser app can be used, independent of power supplier, to easily master and optimize electricity usage and cost

Elekt

NAIT is caused by tissue incompatibility between a mother and her child and causes severe illness and often mortality in newborns. The planned treatment will be administered as a single dose injection to the mother immediately after delivery and the treatment has the potential to prevent development of NAIT in subsequent pregnancies. The technological basis of Prophylix Pharma comes from research at The University Hospital of North Norway and Ullevål University Hospital. Sarsia Seed is invested in Prophylix Pharma AS through a co-investment with the seed fund Norinnova Invest AS and Trond Mohn Foundation.

Prophylix Pharma assets were medio 2019 acquired by RallyBio Inc, a special purpose US Pharma company for the development of drugs targeting rare diseases, teamed up with an excellent and experienced team of managers and drug developers, and financed with 145 m$ by Pivotal bioVenture Partners, Viking Global Investors , TPG Capital, F-Prime Capital, Tekla Capital Management, Solasta Ventures, Fairview Capital, Mitsui & Co., 5AM Ventures, Canaan Partners, New Leaf Venture Partners and Connecticut Innovations. RallyBio expects to be entering clincal trials in Germany late 2020.

Details regarding deal financials will not be disclosed, however under the terms of the agreement, Prophylix has received an upfront payment, is eligible for development milestones, a percentage of the value of a PRV(Priority Review Voucher), and single to low double digit tiered royalties on a substantial sales volume.

Prophylix Pharma AS

Flow Computing is a pioneering startup based in Helsinki, Finland enabling the next generation of energy efficient CPU performance for the most demanding applications, such as locally-hosted AI and general-purpose parallel computing. Capable of being integrated into any current or pending design architecture or process geometry, Flow provides a revolutionary acceleration that is usable in standard products to enable “CPU 2.0”-levels of throughput and eliminating the need for expensive GPU acceleration of CPU instructions.

This revolutionary performance leap is achieved using the company’s patented Parallel Processing Unit (PPU) licensable architecture and compiler ecosystem - enabling developers to choose their preferred ratio of raw performance for new apps vs. maintaining legacy code and application compatibility when required. Flow's groundbreaking architecture also turbocharges embedded systems and data centers, for uses such as edge and cloud computing, AI clouds, multimedia codecs across 5G/6G, autonomous vehicle systems, military-grade computing and more.

Participants in Flow’s pre-seed round in addition to Sarsia include Butterfly Ventures (lead VC - Finland), FOV Ventures (Finland/UK), Stephen Industries (Finland), and Superhero Capital (Finland). Flow Computer has been part of VTT LaunchPad, a science-based spin-off incubator in Finland, and was founded by Timo Valtonen (CEO), Dr. Martti Forsell (CTO) and Jussi Roivainen.

Flow Computing

Qbee.io provides a simple, secure and scalable IoT device management solution that any team can implement quickly. Qbee is a complete fleet management enabling remote access, over-the-air updates, automatic configuration, security and more. By using qbee, companies can expect huge cost-savings in reducing time-to-market, competence needs, operational costs and security risks.

Qbee

The Heimdall Sensor platform an analytics allows utilities to monitor physical parameters of live high voltage powerlines. This enables control of the grid and high value analytics. Heimdall Power enabled dynamic line rating may increase the capacity of power lines of up to 60% with no further investment.

Heimdall Power AS

The output from PaCRTool-system can be used as a biomarker with the ability to improve the clinical outcome in heart failure patients​

Pacertool

Calluna Pharma is developing first-in-class therapies designed to defeat chronic inflammation and fibrosis at the source. Calluna's innovative therapeutic approach targets upstream amplifiers of disease offering potential applicability across a diverse array of medical conditions. Calluna Pharma is a clinical stage company driven by a commitment to improve patient outcomes in areas where existing treatments are sub-optimal.

Calluna Pharma

Coegin Pharma AS develops a new therapeutic approach to modulate cPLA levels in patients with certain forms of cancer and Chronic Kidney Disease.

Coegin pharma

Cetasol’s iHelm solution delivers energy reduction of 10-25%.

The solution offers unique data-based digital twin modeling of vessels

Maritime sustainability is more relevant than ever, with operations needing to consider this to future-proof their operations. Given the tightening regulatory landscape and increasingly ambitious IMO an EU objectives, optimizing energy utilization becomes imperative.

Cetasol was founded to resolve these problems. Ethan Faghani, Cetasol’s founder, previously held the position of Chief Engineer of AI and automation at Volvo Penta. Identifying fluctuations attributable to human factors, he realized that by mitigating these variances, fuel savings of 10-25% were attainable. The intelligent decision support platform iHelm was born, and given its brand-independent nature, Cetasol emerged as an independent startup in 2020.

Cetasol

Enua Charge is a detachable EV charger that can be connected to any wall mount from Enua. This gives end-users the ability to charge where they want, for example at the cabin, in the garage, at work or on the house wall. 

This way users can build charging infrastructure that suit their needs regardless if they are charging in private homes, multi dwelling housing or in the work place.

The charger is very easy to install, saving time for installers.

Enua 

The Company is a world leader in understanding the essential role of AXL kinase in mediating aggressive disease, including immune evasive, drug resistant, metastatic solid and haematological cancers. BerGenBio’s lead product, bemcentinib (BGB324), is a selective, potent and orally bio-available small molecule AXL inhibitor in several company-sponsored Phase II clinical trials in major cancer indications, including numerous investigator-sponsored trials. Bemcentinib is currently the only selective AXL inhibitor in clinical development. BerGenBio is also developing a companion diagnostic test to identify patient subpopulations most likely to benefit from treatment with bemcentinib. The company is also developing a diversified pre-clinical pipeline of drug candidates, including BGB149, an anti-AXL monoclonal antibody.

BerGenBio ASA

Top performance among Norwegian Early Stage Venture funds

Two of the most valuable early stage venture backed companies in Norway. 

Theories, hypotheses and research are rooted in ambition. Clear goals, systematic hard work and dedication create results. Sarsia focus on technologies that can improve the quality of life, society and reduce negative impact on nature. Sarsia creates value by linking good solutions and science with competent capital. We thrive on change, and dare to take risks to create value. This has made us one of the best performing VC firms in the Nordic countries.

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