The Nordic hardtech community

For everyone building hard things in the Nordics.

Hardtech is innovative, complex and physical. Nordic Hardtech exists so the people who build it, fund it and enable it can find each other.

175
Investors mapped
1190
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 175 INVESTORS →

Every Nordic investor with documented hardtech investments, plus the grants and public instruments that fund the other half of the road from lab to factory, with their deadlines.

Fairpoint Capital

Venture CapitalSE

Fairpoint Capital is a Stockholm-based early-stage venture capital firm, spun out of SEB Venture Capital's technology team, that makes minority investments (late seed to Series B) in Nordic B2B technology companies; it closed its second fund at $60M in 2024 and remains backed primarily by SEB.

Backed:Cognibotics, KISAB, Celerway, Software-defined camera portfolio company (name unconfirmed - flag for review)

Flat Capital

Investment CompanySE

Publicly listed Swedish investment firm, majority owner of Defensor Group, an industrial group built to become a leading player in the Nordic defense and security industry, with holdings including ArmaTech, SAFE4U, Zulu Marine, Novator Solutions and Crepitans. Also holds a stake in SpaceX.

Backed:Defensor Group, Crepitans, ArmaTech, SAFE4U, Zulu Marine, Novator Solutions, SpaceX

Alsteron

Investment CompanySE

Alsteron is a Stockholm-based, family-owned investment company founded in 2019 that focuses on the Scandinavian market, primarily investing in biotech, digital and technological innovation companies.

Backed:Echandia, CorPower Ocean, Wayout, Dirac Research

Tillväxtverket

Public FundingSE

Tillväxtverket is the Swedish Agency for Economic and Regional Growth, a government body that distributes EU structural funds, national grants and regional investment support to strengthen competitiveness and regional development across Sweden. It runs broad instruments such as regional investment aid, business-development checks and innovation support, open to companies in any sector, not a hardtech-specific fund with a public portfolio.

Backed:N/A

Innovestor

Venture CapitalFI

Innovestor is a Helsinki based venture capital firm founded in 2014, investing in early-stage technology and life science startups across the Nordic and Baltic regions through its Technology Fund, Life Science Fund and Angel CoFund, alongside a corporate venturing arm and a commercial real estate business.

Backed:Granarium Technologies, Bioretec, ZenRobotics, Amertate, Sooma Medical, Brinter, Uniogen (Abacus Diagnostica / Kaivogen / Labrox), Monidor, 9Solutions, SpinDrive, HVR Cardio, Chip Metrics, Linkker, LNGTainer, Dobbelganger, Cajo Technologies, SuperGround

Trio Impact

University Venture EntitySE

Trio Impact Invest is a Swedish deep-tech venture capital fund established by the holding companies of KTH, Karolinska Institutet, and Stockholm University, combining private and public capital, including EU regional development funding, to back early-stage, research-intensive companies in Sweden. As a newly formed vehicle it does not yet have a disclosed standalone portfolio; its track record so far sits with the founding university holding companies.

Backed:N/A

Investo Capital

Venture CapitalDK

Investo Capital is a Danish venture capital firm based in Aalborg, founded in 2018 and backed by NOVI Innovation and Heartland. It invests in early growth Danish tech companies across medtech, industry 4.0 and water tech, and takes an active board role in each company it backs.

Backed:TracInnovations, Tentoma, Create it REAL, VentriJect, Dryp, Nilroy

Climentum

Venture CapitalSE

European climate-focused VC investing in startups with measurable CO₂ reduction potential.

Backed:Jolt, Kärnfull, Qvantum

Investinor

Venture CapitalNO

Norway’s largest venture investor, providing growth capital to tech companies with international potential.

Backed:Onio, Numascale, poLight

Norrsken VC

Venture CapitalSE

Impact venture capital fund investing in startups solving the world's greatest challenges.

Backed:Heart Aerospace, Northvolt, Einride

Fåhraeus Startup and Growth

Venture CapitalSE

Fåhraeus Startup and Growth (FSG) is a Lund, Sweden-based venture capital fund focused on early-growth and expansion-stage life science and tech companies across the Nordics, with investments spanning MedTech, diagnostics, pharma, and deep tech.

Backed:Airsonett, Beamonics, SAGA Diagnostics, Promimic, Moroxite F, OssDsign, Iconovo, Trackpaw, Fidabio

Novax

Venture CapitalSE

Novax is the growth investment arm of the Axel Johnson Group, backing small and mid-sized companies across food, health, security and energy. It builds sector platforms such as Ingå (food ingredients), Bond Health Group (wellness) and, since 2024, AxSol, which invests in and scales renewable energy companies.

Backed:RCO Group, Nimly, RCO Security, Swedlock, NitroCapt

The ecosystem

ALL 1190 COMPANIES →

Who builds, supplies and enables hardtech across the Nordics, from garage startups to industrial giants. Browse by role, phase and vertical.

Peak Energy

ProductEnergy & GridINTL

Peak Energy focuses on advancing sodium-ion battery systems for renewable energy storage solutions.

ArcticStartup

EnablerIncubator & AcceleratorFI

ArcticStartup is an independent technology news outlet reporting on digital startups and growth entrepreneurship in the Nordic and Baltic countries.

Augere Medical

ProductHealth & MedtechNO

A medical technology platform intended to assist endoscopists by aiding the detection of adenomas, sessile serrated lesions, and hyperplastic polyps in the colon.

Hemsek AB

SupplierServices & EngineeringSE

Develops and manufactures electronic components and systems.

Neue

ProductEnergy & GridSE

We provide the self-powered infrastructure that finally makes energy data visible.

Autoliv Sverige AB

ProductMobility & TransportSE

Autoliv is the world's largest automotive safety supplier, developing and manufacturing protective systems such as airbags, seatbelts, and steering wheels for major automotive manufacturers globally.

OptiFreeze

ProductHealth & MedtechSE

Develops technologies to improve the quality and shelf life of food and plant-based products using vacuum infusion and pulsed electric fields.

NIBE Industrier

ProductClimate & EnvironmentManufacturing & Industrial TechSE

NIBE is a global group that develops and manufactures intelligent, energy-efficient indoor comfort solutions, including air and ground source heat pumps engineered with proprietary inverter technology.

European Spallation Source (ESS)

EnablerResearch InstitutionSE

A pan-European research infrastructure under construction outside Lund, Sweden, hosting the world's brightest neutron source for materials and fundamental science.

Mouser Electronics

SupplierDistribution & SupplyINTL

Distributes electronic components and semiconductors globally, serving engineers and procurement professionals with a vast inventory.

Victor Hasselblad AB

ProductConsumer HardwareSE

Manufactures high-end cameras and imaging equipment.

MyDefence

ProductDefence & SecurityAutonomous Systems & DronesDK

MyDefence is a Danish company developing radio frequency-powered counter-drone (C-UAS) products, including wearable, vehicle-mounted and perimeter systems, to detect and defeat unmanned aerial systems.

One sharp email, every two weeks.

Hardtech news from the Nordics and beyond, new raises, events worth travelling for, and the deadlines you should not miss.

Raising for something innovative, complex and physical? Apply in five minutes. We curate, and your round reaches the readers of the newsletter, including the investors on the map. The list is open for the first entries.

The podcast

ALL 37 EPISODES →

Conversations with the founders and funders of Nordic hardtech.

EP 14

Ramtin Massoumzadeh och Quandify: IoT som rinner rakt in [SWE]

#14. IoT som rinner rakt in Ramtin Massoumzadeh , vd och medgrundare av Quandify , gästar podden och berättar hur de byggt en patentskyddad, icke-invasiv vattenmätare – och tagit sig från KTH-labb till lönsam IoT-skala. Quandify utvecklar smart vattenmonitorering utan att riva rör. På några år har de växt till ett team på 20 personer, över 40 MSEK i omsättning och en teknik redo för internationell

LISTEN →
EP 1

Stefan Ytterborn och Cake: Från hype till haveri

#1. Från hype till haveri Stefan Ytterborn , grundare av elfordonsbolaget Cake , gästar premiäravsnittet av Hårdvarupodden (numer Nordic Hardtech Podcast). Vi pratar om hela bolagsresan – från vision och hype till konkurs – och om vad andra kan lära sig av en resa som gick snabbt, snyggt och slutade tvärt. Cake satte en ny standard för elfordon. Men att bygga hårdvara, skala globalt och finansiera

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EP 36

Monica Bellgran – Produktionsänglar & Sveriges bortglömda konkurrensfördel [SWE]

36. Produktionsänglar & Sveriges bortglömda konkurrensfördel Monica Bellgran , vicerektor för innovation vid Mälardalen Universitet och medgrundare av Produktionsänglar , gästar podden för att prata om en av hardtech-världens mest underskattade utmaningar: att gå från prototyp till produktion. Från industrialisering och leverantörskedjor till automation, AI och geopolitik förklarar hon varför så m

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EP 3

Ulrika Tornerefelt och Stella Futura: Från grön vision till laddad expansion [SWE]

#3. Från grön vision till laddad expansion Ulrika Tornerefelt , grundare av Stella Futura , gästar podden och berättar om resan från hållbarhetsrådgivning till att bygga ett snabbväxande energibolag. Från Västafrika till svenska stödtjänstmarknaden, och från idé till skalbar affärsmodell inom “battery as a service”. Vi pratar om lönsam expansion, affärsmodellering, finansieringsstrategier och hur

LISTEN →
EP 4

James Campion och TERASi: In i hjärtat av svensk deeptech

#4. In i hjärtat av svensk deeptech James Campion , grundare av TERASi, gästar podden och berättar hur det är att bygga ett deeptech-bolag i Sverige – med rötterna i forskning, blicken mot 6G och finansieringsgapet ständigt närvarande. Vi pratar om teknik, produkt, kapital och politik. Om att utveckla kommunikationssystem för nästa generations nätverk, och varför det ibland känns som att förklara

LISTEN →
EP 18

Stina Lantz och SISP: Så bygger vi ett starkare innovationssystem

#18.Så bygger vi ett starkare innovationssystem Stina Lantz , VD på SISP (Swedish Incubators and Science Parks), gästar podden och berättar om inkubatorernas och science parks roll i det svenska innovationssystemet. Med bakgrund som entreprenör, affärsutvecklare och programledare för Ignite Sweden har Stina jobbat med över 1300 startups. I dag leder hon SISP – en medlemsorganisation som samlar 63

LISTEN →
EP 35

Tomas Becklin – Teaching Infrastructure to Speak Animal with Flox

#35. Teaching Infrastructure to Speak Animal with Flox Tomas Becklin , CTO and co-founder of Flox , joins our podcast to explain how AI, acoustics and edge computing can reduce conflicts between wildlife and critical infrastructure. Flox builds systems that identify animals in real time and play sounds they instinctively understand, guiding behavior without fences, barriers or harm. In this conver

LISTEN →
EP 15

Ola Wassvik & Flatfrog: Att äga vägen till skalbarhet [SWE]

Ola Wassvik , medgrundare av Flatfrog , gästar podden och berättar hur bolaget tog en optisk multitouch-teknik från ett labb i Lund till en global marknad. I dag används Flatfrogs lösningar i allt från klassrum till styrelserum – men bakom framgången finns en annan avgörande faktor: patenten. Med över 300 patent i ryggen använde Flatfrog IP som ett strategiskt verktyg för att skydda sin teknik, sä

LISTEN →
EP 29

Johan Outinen – Elvy & the Energy Subscription Play: 15 Years of Heat, Trust and Risk [ENG]

#29. Elvy & the Energy Subscription Play: 15 Years of Heat, Trust and Risk Johan Outinen , CEO and co-founder of Elvy Energy , joins the pod to explain why households should lock in their energy for the next 15 years, and how simplicity can unlock the transition. Elvy Energy is rewriting the rules of home energy with flat-rate subscriptions that cover installation, insurance, maintenance, and even

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EP 20

Ted Elvhage: Rymdkapital & Expansion Ventures – The Nordic Case for Space [ENG]

Episode 20 – The Nordic Case for Space Ted Elvhage , founder of Rymdkapital and Expansion Ventures , joins us to talk spacetech, hardtech investing, and why Europe needs to catch up. From early bets like Pythom Space to advice for angel investors—this is a fast, sharp dive into one of hardtech’s most complex frontiers. Rymdkapital is a Sweden-based investment firm focused on early-stage spacetech

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EP 23

Linda Krondahl från Things: Från hype till handling – hur deeptech blir business [SWE]

Avsnitt 23. Från hype till handling – hur deeptech blir business Linda Krondahl , vd på Things och medgrundare till Ignite Sweden , gästar podden och berättar om sin resa från solenergiprojekt i Indien till att bygga ett nav för deeptech i Sverige. Det här är ett avsnitt om hur affärer slår visioner – och varför svenska storbolag måste vakna. Vi pratar om hur Things blev en katalysator för hardtec

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EP 12

Dora Palfi and imagi: From Neuroscience to Neon Pixels

Episode #12: From Neuroscience to Neon Pixels with imagi Dora Palfi , co-founder and CEO of edtech company imagi , joins the podcast to talk about building tools that make tech education more accessible, playful — and empowering, especially for girls. With a background in both neuroscience and computer science, Dora shares her journey from research to entrepreneurship, and how imagi is redefining

LISTEN →

Insights

ALL INSIGHTS →

What we have learned about building, scaling and funding hard things in the Nordics.

INSIGHT

When Hardware Meets Awesome

Johan Ronnestam argues hardtech brands need archetypes and cultural resonance, not just working tech, to survive AI-driven disruption.

READ →
INSIGHT

Vi är tillbaka – snart!

Efter en framgångsrik beta-period under våren, med massor av positiv feedback, så kommer Hårdvarupodden att återlanseras under hösten. Nya avsnitt inom kort! Vill du hjälpa till?

READ →
INSIGHT

Betting the House on 15-Year Subscriptions

Elvy Energy's CEO explains why flat-rate 15-year energy subscriptions could become the future default for households.

READ →
INSIGHT

Building Before You Ask for Permission

Atonemo's founder explains how reduction, timing and restraint shape consumer hardware development.

READ →
INSIGHT

The Hard Way: The Nordic Way

Nordic hardtech founders keep choosing complex, regulated, physical-world industries over easy, fast-scaling opportunities.

READ →
INSIGHT

Livepodd i Göteborg på Evertiq-mässan

Torsdag den 19 september besöker podden Evertiq-mässan i Göteborg för att intervjua två intressanta bolag live på scenen: Airolit och Frontside. Jag (Jonas) står även på mässgolvet för samtal.

READ →
INSIGHT

TALES FROM THE TECH HUB: HARDWARE EDITION på The Yard i Göteborg (2 april)

Välkommen till Göteborgs techarena "The Yard" på ett exklusivt event om hur man bygger hårdvarubolag.

READ →
INSIGHT

Karoly Szipka on Making Machines Talk: and Building a Business Around It

IPercept's founder explains how CNC diagnostics and machine data could save Europe's aging industrial expertise.

READ →
INSIGHT

Matter Over Code: The Nordic Path to Resilient Technology

Nordic hardtech founders are pioneering a material renaissance, shifting innovation from silicon and code to advanced physical materials.

READ →
INSIGHT

Built in Sweden? Only if you survive the manufacturing gap first

Monica Bellgran explains why Swedish hardware startups bring in industrialization too late and what that risks.

READ →
INSIGHT

Quantum That Counts: 10 Nordic Quantum Pioneers to Watch

A curated look at ten Nordic companies turning quantum research into commercial hardware and software.

READ →
INSIGHT

The Nordic Heat List: Ten Nordic Companies Turning Heat into Hardtech

Profiles ten Nordic companies turning industrial and household heat into hardtech-driven climate solutions.

READ →

Partners keep this open

The funding map, the podcast, the events and the newsletter are free for the whole ecosystem, made possible by partners who build Nordic hardtech with us.

LIGHTBRINGER

AI-driven patent filing for tech companies. Protect what you invent, at software speed.

OFFER: Free intro call with Lightbringer's patent team → LIGHTBRINGER.COM ↗
SISP

Swedish Incubators and Science Parks, the national infrastructure for innovation environments.

SISP.SE ↗
RECURO

Growth partner for tech and media companies, from strategy to execution.

RECURO.COM ↗
PARTNER WITH US

Kept accurate by the community

Anyone can suggest an investor, flag an error, or submit an event, a job or a raise. Every suggestion is checked and prepared before it goes live. Nothing publishes unreviewed.

One sharp email, every two weeks.

Hardtech news from the Nordics and beyond, new raises, events worth travelling for, and the deadlines you should not miss.