The Deep View: AI for Good …. Startups and solving real problems

Posted on July 1, 2025 by michelleclarke2015
AI for Good: $348M fund backs startups solving real problems
Source: Midjourney v7
Sweden’s Norrsken Foundation is investing $348 million in European startups using AI to address major global issues, including climate change, health, food, education and social impact. The new fund is one of the largest in Europe dedicated to AI-for-good ventures, aiming to redirect innovation toward solving what matters most.
Founded in 2016 by Klarna co-founder Niklas Adalberth, Norrsken now manages over $1 billion in assets across multiple impact-focused investment vehicles. The foundation’s venture arm believes most AI companies are still optimizing ads and inboxes instead of addressing human challenges.
As Agate Freimane, General Partner at Norrsken VC, puts it: “AI is not just another productivity boost, it’s a real chance to fix what truly matters.”
Where the money’s going
Startups using AI to improve climate, health, food, education and society$348 million earmarked specifically for AI-for-good projects. Part of a larger $1 billion impact fund network under Norrsken’s umbrellaBuilt to help early-stage ventures scale meaningful solutions Aimed at shifting AI away from ad clicks and toward real-world progress
Why this matters: While AI funding is booming, with over $80 billion in VC deals last quarter alone, most startups still focus on ad tech and SaaS efficiencies. Norrsken’s move is a shift toward purpose-built AI, aiming to unlock real-world benefits for underserved communities and overlooked global issues.
Freimane is blunt about the stakes: “Artificial intelligence is the most powerful tool humanity has ever created. Yet, so far we are mainly using it to optimise clicks and automate emails.”
This fund wants to change that.

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About michelleclarke2015

Life event that changes all: Horse riding accident in Zimbabwe in 1993, a fractured skull et al including bipolar anxiety, chronic fatigue …. co-morbidities (Nietzche 'He who has the reason why can deal with any how' details my health history from 1993 to date). 17th 2017 August operation for breast cancer (no indications just an appointment came from BreastCheck through the Post). Trinity College Dublin Business Economics and Social Studies (but no degree) 1997-2003; UCD 1997/1998 night classes) essays, projects, writings. Trinity Horizon Programme 1997/98 (Centre for Women Studies Trinity College Dublin/St. Patrick's Foundation (Professor McKeon) EU Horizon funded: research study of 15 women (I was one of this group and it became the cornerstone of my journey to now 2017) over 9 mth period diagnosed with depression and their reintegration into society, with special emphasis on work, arts, further education; Notes from time at Trinity Horizon Project 1997/98; Articles written for Irishhealth.com 2003/2004; St Patricks Foundation monthly lecture notes for a specific period in time; Selection of Poetry including poems written by people I know; Quotations 1998-2017; other writings mainly with theme of social justice under the heading Citizen Journalism Ireland. Letters written to friends about life in Zimbabwe; Family history including Michael Comyn KC, my grandfather, my grandmother's family, the O'Donnellan ffrench Blake-Forsters; Moral wrong: An acrimonious divorce but the real injustice was the Catholic Church granting an annulment – you can read it and make your own judgment, I have mine. Topics I have written about include annual Brain Awareness week, Mashonaland Irish Associataion in Zimbabwe, Suicide (a life sentence to those left behind); Nostalgia: Tara Hill, Co. Meath.
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