🇳🇴 Telenor Amp Partners with Shapemaker to Enhance Industry Innovation, Efficiency, and Sustainability

July 11, 2023
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Press release from Telenor

Telenor Amp invests in Shapemaker, an Oslo-based startup revolutionising telecom design through automation and advanced technologies. This strategic partnership drives innovation and may propel the industry into a new era of efficiency and sustainability.

Shapemaker is on a mission to revolutionise telecommunications infrastructure’s civil design and analysis. 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.

Ingrid Sofie Øvrum Sem, who was responsible for the investment from Shapemaker’s side, says, “Our initial plan was to start fundraising 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”.

Telenor Amp’s first investment

Telenor Amp was launched during last year’s Capital Markets Day as part of Telenor’s new strategy. The initiative represents a new division within the Telenor Group, in addition to Telenor Asia, Telenor Nordic, and Telenor Infrastructure. Telenor Amp focuses on strategic investments in companies closely related to Telenor’s core business.

Telenor Amp’s investment portfolio currently includes 16 companies, with a combined value ranging from 10 to 15 billion Norwegian kroner. This portfolio comprises a mix of start-ups as well as established companies such as Telenor Connexion, Telenor Linx, Telenor Maritime, Allente, and Carousell.

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

“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.

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 its ambitious commercial plan and position the company for continued growth.

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.

The partnership between Telenor and Shapemaker 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.


Originally published on 10 July.