About NorSun
NorSun is a company based in Oslo (Norway) founded in 2005. It operates as a Direct-to-Consumer (D2C). NorSun has raised $100.34 million across 11 funding rounds from investors including Nordea, DNB and Enova. The company has 228 employees as of December 31, 2021. NorSun offers products and services including Mono-Crystalline Silicon Wafers and Mono-Crystalline Silicon Ingots. NorSun operates in a competitive market with competitors including NexWafe, Hanwha, Pennar, Daqo New Energy and Otovo, among others.
- Headquarter Oslo, Norway
- Employees 228 as on 31 Dec, 2021
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Norsun As
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Annual Revenue
$20.95 M (USD)-41as on Dec 31, 2023
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Net Profit
$-13.68 M (USD)-153as on Dec 31, 2023
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EBITDA
$-17.08 M (USD)-166as on Dec 31, 2023
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Total Equity Funding
$100.34 M (USD)
in 11 rounds
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Latest Funding Round
$8.5 M (USD), Series C
Aug 17, 2023
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Investors
Nordea
& 10 more
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Employee Count
228
as on Dec 31, 2021
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Products & Services of NorSun
NorSun offers a comprehensive portfolio of products and services, including Mono-Crystalline Silicon Wafers and Mono-Crystalline Silicon Ingots. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
High efficiency wafers are supplied to solar manufacturers.
Silicon ingots are produced for solar energy applications.
Funding Insights of NorSun
NorSun has successfully raised a total of $100.34M across 11 strategic funding rounds. The most recent funding activity was a Series C round of $8.5 million completed in August 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 11
- Last Round Series C — $8.5M
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First Round
First Round
(10 Mar 2009)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2023 | Amount | Series C - NorSun | Valuation |
investors |
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| Jun, 2021 | Amount | Grant - NorSun | Valuation |
investors |
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| Jun, 2019 | Amount | Debt – Conventional - NorSun | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in NorSun
NorSun has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include Nordea, DNB and Enova. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm investing in tech sectors
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Founded Year | Domain | Location | |
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Offers long-term investments in projects that reduce emissions and promote green shifts.
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Founded Year | Domain | Location | |
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Develops and implements technologies in renewable energy and advanced materials.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by NorSun
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - NorSun
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Norsun Comparisons
Competitors of NorSun
NorSun operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as NexWafe, Hanwha, Pennar, Daqo New Energy and Otovo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Solar PV wafers are manufactured and supplied to cell producers.
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| domain | founded_year | HQ Location |
Manufacturer of solar cells, modules, and other related components
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| domain | founded_year | HQ Location |
Precision-engineered products and building solutions are manufactured.
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| domain | founded_year | HQ Location |
Polysilicon and silicon wafers are manufactured for solar applications.
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| domain | founded_year | HQ Location |
Homeowners are connected to solar panel installers via a marketplace.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Norsun
Frequently Asked Questions about NorSun
When was NorSun founded?
NorSun was founded in 2005 and raised its 1st funding round 4 years after it was founded.
Where is NorSun located?
NorSun is headquartered in Oslo, Norway. It is registered at Oslo, Oslo, Norway.
Who is the current CEO of NorSun?
Erik Lokke Ower is the current CEO of NorSun.
Is NorSun a funded company?
NorSun is a funded company, having raised a total of $100.34M across 11 funding rounds to date.
How many employees does NorSun have?
As of Dec 31, 2021, the latest employee count at NorSun is 228.
What is the annual revenue of NorSun?
Annual revenue of NorSun is $20.95M as on Dec 31, 2023.
What does NorSun do?
NorSun, a Norwegian solar energy company, is focused on the production of high-performance mono-crystalline silicon ingots and wafers for the global solar energy industry. Dedicated to sustainable production, high-efficiency n-type wafers are manufactured with a certified low carbon footprint. Established as a supplier to tier-one cell manufacturers, operations are conducted with an emphasis on clean energy solutions for a sustainable future.
Who are the top competitors of NorSun?
NorSun's top competitors include NexWafe, Pennar and Astronergy.
What products or services does NorSun offer?
NorSun offers Mono-Crystalline Silicon Wafers and Mono-Crystalline Silicon Ingots.
Who are NorSun's investors?
NorSun has 11 investors. Key investors include Nordea, DNB, Enova, Innovasjon Norge, and European Union.