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
Uptime Announces Annual Outage Analysis Report 202613.5.2026 13:02:00 EEST | Press release
Uptime Institute today announced the release of its 8th Annual Outage trends report, an ongoing series from Uptime Institute Intelligence analyzing IT service resiliency. Outage prevention continues to be a central focus for data center operators as demand growth, AI-driven workloads and power constraints reshape risk profiles. As design and operations improve, operators must still navigate greater system complexity, grid instability, deeper interdependencies and evolving external threats. The 8th Annual Outage Analysis 2026 report analyzes recent data on the causes, frequency and consequences of IT and data center outages. For the fifth consecutive year, Uptime Intelligence Research suggests that outage frequency on a per-site basis is declining. However, the pace of improvement has slowed compared to previous years and approximately 1 in 10 note their last outage had serious or severe impacts. In publicly reported outages, external infrastructure failures are becoming more prominent.
MTU Maintenance Lease Services Invests in TRecs to Digitalise Engine Transition Management13.5.2026 11:05:00 EEST | Press release
MTU Maintenance Lease Services B.V. (“MLS”), the engine leasing and asset management arm of MTU Maintenance, today announced a strategic minority investment in TRecs (trecs.aero). TRecs is a platform digitalising Open Item List (OIL) management across the engine lifecycle, from initial technical review through transitions, shop visits, and beyond. Terms of the transaction are kept confidential. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513682497/en/ Through its deployment of TRecs, MLS moves further into its leading role in moving the engine leasing industry toward a cloud-based, collaborative standard designed specifically for leasing and asset management customers. MLS will use the platform across the engine lifecycle, from the initial technical review of acquired or leased-in engines through end-of-lease documentation and task tracking for lease returns, shop visits, and asset transitions, in a centralised, real-t
NIPPON KINZOKU Strengthens Promotion of "L-Core" as an Eco-Product: Functional Stainless Steel Achieving High Conductivity via Surface Modification13.5.2026 11:01:00 EEST | Press release
NIPPON KINZOKU CO., LTD. (TOKYO: 5491) (Headquarters: Minato-ku, Tokyo) is proud to announce the strengthened promotion of "L-Core," a functional stainless steel that utilizes proprietary surface modification technology to achieve extremely low contact resistance while maintaining the inherent corrosion resistance of stainless steel. We have repositioned L-Core as a strategic "Eco-Product" to support sustainable manufacturing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513728897/en/ While conventional stainless steel excels in corrosion resistance due to its "passive film," this same film typically acts as an electrical insulator. Consequently, components requiring conductivity have traditionally relied on high-cost nickel (Ni) plating or conductive tapes. L-Core solves this challenge by making the passive film itself conductive. This breakthrough ensures high conductivity in the material alone, streamlining the manuf
Hermes Reply Presents Brick Cognitive, the Agentic Operating System for Manufacturing13.5.2026 11:00:00 EEST | Press release
Hermes Reply, the Reply Group company specialized in digital transformation for manufacturing, presents Brick Cognitive, the new agentic operating system designed to bring AI to the centre of industrial operations. A natural extension of Brick Reply, Reply’s next-generation MES/MOM platform, Brick Cognitive introduces a model in which factory systems no longer simply execute and monitor operations, but isable to interpret what is happening, correlate events and guide action across production, quality, maintenance and planning. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260513981153/en/ Brick Reply, Reply’s next-generation MES/MOM platform, Brick Cognitive introduces a model in which factory systems no longer simply execute and monitor operations, but is able to interpret what is happening, correlate events and guide action across production, quality, maintenance and planning. In production environments, data and processe
MC Advances Supply Chain Transformation with Blue Yonder Cognitive Solutions13.5.2026 11:00:00 EEST | Press release
MC, the retail division of Sonae and a leading player in Portugal’s grocery market and health, wellness, and beauty retail across the Iberian Peninsula, has selected Blue Yonder Cognitive Solutions for Allocation and Replenishment to advance its supply chain transformation. With more than 400 stores across multiple formats, MC operates major supermarkets and hypermarkets such as Continente, along with convenience stores, health and wellness shops, and online grocery services. Blue Yonder’s advanced artificial intelligence (AI) and machine learning (ML) enabled solutions will help the company improve visibility into demand forecasting. The new solutions will be implemented by Blue Yonder Services. “The grocery retail sector is adapting to a period of significant change, underlining the need for more agile operations across the supply chain. We needed end-to-end visibility and faster, more accurate inventory planning to address demand uncertainty while prioritizing our business goals,” s
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