Nornir secures €30 Million capital commitment from Global Emerging Markets (GEM)
8.12.2021 01:09:00 EET | Business Wire | Press release
The Norwegian deep tech company Nornir, today announced a $30 Million investment commitment from GEM Global Yield LLC SCS (“GEM”), the $3.4 Billion, Luxembourg based, private alternative investment group that focuses on emerging markets with offices in Paris, Nassau (Bahamas) and New York.
Under the agreement, GEM will provide Nornir with a Share Subscription Facility of up to €30 Million for a 36 month term following the public listing of the Nornir common stock. Nornir will control the timing and maximum amount of each drawdown under the facility and has no minimum subscription obligation.
Nornir's unique “Hive Mind” network technology operates in the AI driven Smart City and smart asset management industry; which is one of the fastest growing markets in the world expected to reach $100 trillion in 2021. The industry is morphing into the Internet of Things (IoT) era which opens up new markets and opportunities where digital assets become intelligent and embedded into various additional representations like 3D models (BIM) and Digital Twins. One of the main benefits using Nornir’s machine learning infrastructure is that the device itself becomes “alive” and tells the system when it needs to be replaced, who can replace it and when. Autonomous systems will drastically reduce cost and simplify administration.
“With GEM’s investment, we will scale and implement our international go-to-market strategy. I’m very happy to see that our hard work is being materialized and I'm looking forward to further developing our services.” - says Paal Kristian Levang CEO, Nornir
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries from 5 continents.
GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum.
Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.
More company info at gemny.com.
About Nornir
Nornir is a technology provider offering state-of-the-art software tools for development of AI networks. The Hive Collective is a new decentralized AI networking invention by Nornir that gives lifelong mobility and dynamical value chain management.
Nornir’s main goal is to help new and well established businesses so they can quickly adapt to the fast growing AI market. Nornir has been awarded with the Seal Of Excellence from EU's Horizon 2020 program and is part-financed with a loan from Innovation Norway.
More company info at nornir.io.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211207006151/en/
Contact information
Paal Kristian Levang, CEO of Nornir
paal@nornir.io
+47 482 01 265
Download press material at nornir.io/press-and-media
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Xsolla Brings Direct-to-Consumer Commerce Expertise to Gamesforum Hamburg 2026 With Keynote and Panel Appearances9.6.2026 15:01:00 EEST | Press release
Xsolla, a global leader in video game commerce, today announced its participation in Gamesforum Hamburg 2026, taking place June 9–10, 2026, at NORD EVENT Panoramadeck in Hamburg, Germany. As an Exclusive Global Partner of the Gamesforum series, Xsolla will bring its direct-to-consumer commerce expertise to one of Europe's leading gatherings for mobile game growth and monetization, with Jane Startseva, Vice President of Business Development, EMEA, taking the stage across two sessions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260609166526/en/ Graphic: Xsolla Xsolla's presence in Hamburg underscores its role at the center of gaming's shift toward direct-to-consumer commerce: On June 9 at 10:00 AM, Jane joined Adam Smart, Global Director of Product – Gaming at AppsFlyer, for a 30-minute keynote titled "Web Shops and Attribution: Closing the Revenue Gap." As web shops cement their role as a primary monetization channel for
Duetti Expands Funding Offerings for Independent Artists With Two New Programs9.6.2026 15:01:00 EEST | Press release
Duetti Inc. (“Duetti” or the “Company”), the music company that partners with independent artists and songwriters to buy, manage, and market their catalogs, announces today a significant expansion of its funding offering. Artists can now sell their master recording tracks, or parts thereof, in as little as six months after release - substantially earlier than the company’s prior two-year threshold. Duetti is also launching its new Remix Program, which allows independent artists to create remixes, covers, and other derivative works from Duetti’s 30,000-track catalog (across both masters and compositions). In return, artists can receive upfront cash compensation, ongoing royalty % share, 0% distribution fees, and dedicated marketing support. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260609063445/en/ UNLOCKING VALUE, EARLIER THAN EVER Duetti is leveraging its proprietary AI-driven predictive models to materially lower the
The Open Group Releases OSDU® Data Platform Standard, Version 1.09.6.2026 15:00:00 EEST | Press release
The Open Group, the global vendor‑neutral technology consortium, today announced the release of the OSDU® Data Platform Standard, Version 1.0. The new standard establishes a stable, clearly defined baseline for data platform capabilities, supporting greater interoperability, consistency, and confidence across the energy industry. The OSDU Data Platform Standard, Version 1.0 is designed to help organizations better manage, access, and use enterprise data by reducing fragmentation and breaking down data silos. It provides a common framework for organizing and accessing data securely and efficiently, supporting improved collaboration, innovation, and decision‑making. Key benefits of the standard include interoperability by design, increased stability for application development and deployment, and a clear foundation for certification. Operators benefit from greater choice and reduced integration effort, independent software vendors can develop against a defined standard, and platform prov
Clearlake Completes Strategic Acquisition of Pathway Capital Management9.6.2026 15:00:00 EEST | Press release
Clearlake Capital Group, L.P. (“Clearlake” or the “Firm”), a global investment firm managing integrated platforms spanning private equity, liquid and private credit, and other related strategies, today announced the completion of its acquisition of Pathway Capital Management (“Pathway”), a global provider of private market solutions for institutional and wealth markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260609839186/en/ The strategic acquisition significantly expands Clearlake’s private markets platform, adding complementary capabilities and reinforcing its position as a leading diversified alternative asset manager. Founded in 1991, Pathway manages more than $95 billion in assets and brings a proven track record across private equity, private credit, infrastructure, secondaries and co-investments through customized private markets programs and multi-investor funds. The combination will bolster Clearlake’s priva
Watchmaker to Unveil New Technologies Addressing NGS Workflow Bottlenecks and Sequencing Accuracy Challenges at ESHG 20269.6.2026 15:00:00 EEST | Press release
Watchmaker Genomics, a leader in high-performance NGS workflow solutions, today announced it will unveil two new technologies at the European Society of Human Genetics (ESHG) 2026 conference, designed to address persistent bottlenecks in sequencing workflow scalability and amplification accuracy. The launches include the EquiPlex™ Normalization Kit, which simplifies library normalization using a novel Cas9-based approach, and Equinox® Prime Library Amplification Master Mix, engineered to improve indel accuracy in repetitive genomic regions while delivering superior amplification performance across sequencing applications. Built on Watchmaker’s expertise in protein engineering and integrated workflow design, the technologies reflect the company’s continued focus on solving real-world sequencing challenges that impact operational efficiency, scalability, and downstream data quality. “Sequencing workflows continue to grow in scale and complexity, but many of the core bottlenecks researche
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom