“Private capital is the lifeblood of Start-ups like The Coring Company. Providing not just financial support, but also knowledge and network to young companies is crucial in the early phases of business development.”
Frida Vonstad – CEO
Investors
The Coring Company has attracted a diverse range of investors for our funding rounds. These include angel investors, industry-related investors, employees, and international VC funds.
We have secured over NOK 120 million in funding since our founding in 2019.
Focusing on critical products for multiple markets and rapid international expansion, we have introduced investors to a startup that is pushing boundaries in Norway.
The Coring Company has prioritized finding investors who support and understand its vision.
The Coring Company currently has over 100 investors, including all its employees. The employees, including founders, have contributed more than NOK 10 million so far.
Key investors in each investment group are TRK Group (Trond Riiber Knudsen), Teako Minerals, and R3i Capital.
TRK Group
TRK Group is an Oslo-based Active Ownership Firm, founded by long-term McKinsey Senior Partner Trond Riiber Knudsen. TRK Group aims to catalyze growth for promising entrepreneurial ventures across three particularly exciting domains: Disruptive Technologies, Digital Service Transformation, and Emerging Africa.
Angel investors (also known as business angels) are individuals who provides capital to businesses. Angel investors usually invest in the very beginning of a start-up, before larger investment firms come to the table.
The Coring Company currently has over 60 angel investors, with many arranged in a pooling agreement behind the founder.
TEAKO Minerals
Teako Minerals is Norway’s largest mineral exploration company.
They target several minerals like copper, cobalt, zinc, and molybdenum.
Their total landholding in Norway is now 7.282 km2
Teako’s vision is “To drive the European energy transition and secure supply”.
Industrial investors are industry players in the relevant market segment investing in relevant technology for their own future. An industrial investor usually sees the investment as an investment in the future available technology for their company.
The Coring Company has currently 6 industrial investors.
R3i Capital
R3i invests in emerging technologies to transform the planet for impact
They invest globally in highly scalable IP-based emerging technology companies with a tangible ESG product impact and artificial intelligence advantage.
Venture investors or Venture Capital (VC) is a form of private equity provided by firms or funds to startups, early-stage, and emerging companies.
The Coring Company currently has 3 VC funds on the cap-table.
Previous investment rounds and valuation
The Coring Company is focused on creating value for its shareholders and has demonstrated substantial value growth throughout all investment rounds. Four out of six investment rounds were closed within two weeks.
The next financing round, Series A, is estimated to commence in 2026.
Series A round is currently planning to raise 25-50 million USD.
These funds will be used for the continued commercialization of the company’s products, targeting the global mining industry.
Please contact us to learn more about planned investment rounds.
Corporate Governance
As a basis for its conduct of corporate governance, the company uses the national Norwegian code of practice for corporate governance, as prepared by a working group consisting of representatives of the major organizations involved, owners, issuers, and the stock exchange.
By practicing good corporate governance, the Company aims at securing appropriate division of roles between shareholders, the Board of Directors, and the Senior Management, thereby contributing to reduced business risk and better shareholder value over time. The Board of Directors and the Senior Management annually evaluate the principles of corporate governance and how they are implemented in the Group.
The company is committed to high ethical standards in its business dealings to ensure that the integrity of its employees and the organization is maintained. Corporate social responsibility for the company is an extension of the way the company conducts its business and is described in the Code of Conduct.