Industrial AI-focused RunwayVC hits €40M first close for second fund | Fundraising

Oslo-based RunwayVC has reached a first close of €40 million for its second fund focused on industrial AI, robotics, automation, and autonomous systems. The firm will back pre-seed to Series A startups, using the same industrial AI thesis that guided its earlier strategy, but now with capital beyond its original backer, Aker. New limited partners include Halliburton, Aker BP, Aker Solutions, KLP, Investinor, and several Norwegian industrial families, while Aker remains the principal LP. RunwayVC was founded in 2021 by Tor Bækkelund and Kjell Inge Røkke, and operates from Aker Tech House in Fornebu. Its Fund I launched with 300 million Norwegian kroner from Aker alone and has since supported 24 investments, 23 follow-on rounds, and two exits. Fund II is expected to support about 20 new investments over the next three to five years, including bets on Minerva Humanoids and HIVE.