Burnt Island Ventures
Assembly Line
Nysnø invests in the Norwegian Water Technology Company Flocean
Flocean, a pioneer in subsea desalination technology, has successfully closed its Series A funding round, raising 90 million NOK. The round was led by Burnt Island Ventures, Nysnø Climate Investments and Freebird Partners, with additional support from Norway- and U.S.-based energy and ocean industry investors.
The funding round positions Flocean to expand globally. By deploying its patented technology, the company will offer a sustainable and robust solution to freshwater scarcity.
With expertise from its parent company, FSubsea, which has installed over 70 deep-water pumps, Flocean is well-positioned to deliver sustainable, scalable, and reliable solutions for freshwater supply. It is great to see that expertise from Norway’s oil and gas industry can be applied to address a global challenge with new Norwegian technology, Johannessen adds.
Generative AI startup TeamSolve raises seed round, backed by SGInnovate and Burnt Island
TeamSolve, a startup developing robust and operationally-deployable AI solutions for the industrial and utilities sectors, announced that it has completed a US$2.5m seed round anchored by SGInnovate and Burnt Island Ventures, a US-based early-stage venture fund for water entrepreneurs.
Founded in 2022, TeamSolve has developed a generative AI-powered Co-Pilot designed for industrial operators. The solution is a knowledge twin that provides an accurate, real-time view of asset health, making crucial information readily accessible to frontline workers for safer and more efficient problem-solving. Additionally, it supports managers by improving planning for asset renewals and crew dispatch.