Jul 10, 2023 — article

Telenor Amp and RunwayFBU invest in Shapemaker, valuing the startup at 117 MNOK


By Mari Wachelke

Shapemaker, an Oslo-based startup founded in 2021, is on a mission to revolutionize the civil design and analysis of telecommunications infrastructure. By automating the design process, Shapemaker dramatically reduces the time required for structural calculations, from weeks to minutes. This innovation aligns perfectly with the industry trend of separating passive infrastructure.

“We were thrilled by Shapemaker's ambitious international outlook and believe that their value proposition focusing on green and digital infrastructure resonates strongly in the market. Led by an exceptional team of entrepreneurs with a wealth of industry expertise, we are confident that Shapemaker possesses the ideal foundation to transform their robust product into profitable growth”, says Lisa Marie Nyvoll, Investment Manager at Telenor Amp.

In addition to Telenor's investment, existing investor RunwayFBU has also committed additional capital to support Shapemaker's growth.

"We've invested more than pro-rata, reflecting our firm belief in their process. Shapemaker stands out not just for its deep domain expertise and ability to secure large contracts, but for its knack for building a strong company culture and its commitment to insightful product development. Above all, what sets them, apart is their relentless drive to make the industry more efficient, sustainable, and resilient. It's not simply about innovation—it's about defining a new standard for the future, and it's a privilege to support them in this endeavor." says Sr. Partner and CTO at RunwayFBU, Sagar Chandna.

Shapemaker has successfully raised a total of 27 MNOK, which will be allocated towards further developing the product to serve large tower infrastructure portfolios and expand into other structures. These funds will also enable Shapemaker to execute their ambitious commercial plan and position the company for continued growth.

Telenor Amp’s first investment 
As one of Telenor Group's four business areas, Telenor Amp focuses on strategic investments in companies closely related to Telenor's core business.

“In the first quarter, Telenor Amp achieved a remarkable 25 percent revenue growth across the entire portfolio, a testament to the strong performance of our partner companies. We recognized the tremendous potential in Shapemaker early on, and we are excited to join them on their remarkable journey”, says Nyvoll.

“Our initial plan was to start fund raising this fall, but when the dialogue accelerated with Telenor the choice was easy. The strong brand within the industry, the founder friendly mentality and terms as well as the professionalism enables the perfect platform for growth” says Ingrid Sofie Øvrum Sem who was responsible for the investment from Shapemaker’s side.

From pilots to commercial agreements
Shapemaker's ability to convert paid pilot projects into permanent commercial agreements, including partnerships with companies like Telia Towers, showcases the market demand for their solution. 

"We are delighted to have Telenor as our strategic investor. Their expertise and reputation as a renowned mobile network operator in the Nordics and beyond will undoubtedly enhance our market potential and propel us towards surpassing our ambitious goals," says Balazs Kisfali, Co-founder of Shapemaker.

The partnership between Telenor, Shapemaker, and RunwayFBU marks an exciting chapter for all involved. Together, they aim to shape the future of telecommunications infrastructure design and analysis, driving efficiency and sustainable growth in the industry.

Read the article on DN


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