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.

177
Investors mapped
1233
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 177 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.

LU Ventures

University Venture EntitySE

LU Ventures is Lund University's venture builder and corporate investment arm, founded in 1999, that co-invests equity and builds spinouts with researchers across deep tech and life science. Its portfolio spans semiconductors, robotics, connectivity, medtech and pharma, and includes exits such as SAGA Diagnostics, acquired by Roche.

Backed:Alixlabs, NordAmps, Xenergic, Cognibotics, BeammWave, MxWaves, PluvioFlow, Microdentify, Gaetir, Cyclicor, Elonroad, Spec-Imaging, Medbeat, CarpoNovum, Stairway Medical, MedVasc, Uman Sense, Suturion, Bionamic, Aligned Bio, Dx4Life, Reccan Diagnostics

Kost Capital

Investment CompanySE

Kost Capital is a Copenhagen-based venture capital fund investing in early-stage European companies across the food and bioeconomy sector, backed by Denmark's export and investment fund EIFO as sole limited partner. It writes pre-seed and seed checks of 250k to 1M euros into ingredients, nutrition platforms and enabling process technologies, working alongside its sister venture studio Kost Studio.

Backed:Orbisk

Tesi

Venture CapitalFI

Finnish government-owned investment company supporting sustainable economic growth through equity investments in Finnish companies.

Backed:Sisu Auto, Haltian, Oura

Kvanted Ventures

Venture CapitalFI

Early-stage venture capital firm investing in hardware, software and service companies for the industrial value chain, with focus on industrial automation, sustainability and supply chain resilience.

Backed:QMill, Resoniks, Fractory, Unbound Potential, Euler3D

Snö Ventures

Venture CapitalNO

SNÖ Ventures is an Oslo-based early-stage VC investing in Nordic founders across software, gaming and consumer tech, with Peter Thiel as a strategic partner in its USD 100 million fund. Its one hardtech position is Nordic Air Defence, a drone interceptor maker it backed in 2024.

Backed:Nordic Air Defence

Verdane

Venture CapitalSE

Verdane is a European growth equity investor founded in 2003 and headquartered in Oslo, with offices in Stockholm, Copenhagen, Helsinki, London, Berlin and Munich. It backs tech-enabled and sustainable businesses across digitalisation and decarbonisation, with majority or minority positions in single companies or portfolios. It has made more than 200 investments and runs dedicated decarbonisation funds (Edda III at EUR 1.1 billion, Idun II at EUR 700 million). Hardtech exposure is a minority of the portfolio and is concentrated in energy technology and industrial technology (for example Muegge, r2p-Group, The Packaging Group, Dansk Gummi Industri, Factbird, Aptomar, Resman and Smartmotor), alongside a large software, marketplace and consumer book.

Backed:Muegge, r2p-Group, The Packaging Group, Dansk Gummi Industri, Factbird, Smartbox Group, Aptomar, Resman, Smartmotor, Re-Match

Nordic Foodtech VC

Venture CapitalFIDK

Early-stage venture capital firm investing in deep foodtech across the Nordics and Baltics, backing startups building new technologies for food and agriculture.

Backed:NPHarvest, Kuva Space

Zenith VC

Venture CapitalSE

Zenith VC (Zenith Group AB) is a Stockholm based venture capital firm founded in 2015/2016 by Tommy Jacobson and Caroline Cronstedt. It backs early stage, post revenue Nordic B2B software companies with capital, network access and hands on operational support.

Backed:Minut

DigitalWell Ventures

Venture CapitalSE

DigitalWell Ventures is a Nordic accelerator and incubator, founded in 2020 and headquartered in Karlstad, Sweden, that supports early-stage digital health, welfare and cybersecurity startups across the Nordic and Baltic region rather than operating as a traditional direct-investment fund.

Backed:Oculaudio

LiU Invest

University Venture EntitySE

LiU Invest is the investment company within LiU Holding, owned by Linköping University. It backs early-stage companies commercializing research and student projects from the university, typically investing up to 500,000 SEK per round, and works alongside sister companies LEAD (incubator) and Unitalent.

Backed:Agricam AB, ArgusEye, Cellfion, Dazoq, Epishine, Fluolink, HPViCo, Ligna Energy AB, LunaMicro, MIMSI Materials, Nano Textile Solutions, Polar Light Technologies, Quantum Beam Optics, Radar Reticence, Sindri Labs, Sonicflora, SweGaN, VOC Diagnostics, Westra Materials, SeaPattern

Vasa Angels

Angel networkSE

Vasa Angels is a Gothenburg-based business angel investment vehicle connected to GU Ventures, co-investing with the state-owned Saminvest and around 22-24 business angels in pre-seed and seed rounds sourced from GU Ventures' incubator.

Backed:NSS Water, Nanolyze

Linbo Invest

Investment CompanySE

Linbo Invest is a Stockholm-based, family-owned investment company run by Johan and Lars Wiklund. It backs early and growth-stage private and public companies, mostly software and health, with an occasional hardtech bet.

Backed:Epishine

The ecosystem

ALL 1233 COMPANIES →

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

Rapid Dimension

ProductManufacturing & Industrial TechSE

Rapid Dimension builds industrial 3D printers and a digital warehouse solution that combines additive manufacturing with bio-based and recycled materials for circular, on-demand production.

Linköping Science Park

EnablerScience ParkSE

Supports tech companies and startups through networking and development programs.

Peafowl Sol

ProductEnergy & GridSE

Peafowl Sol develops transparent solar cells using plasmonic nanoparticles, aiming to integrate solar energy harvesting into various surfaces.

Mobile Industrial Robots (MiR)

ProductRobotics & AutomationDK

MiR develops and manufactures autonomous mobile robots (AMRs) that automate internal transport and material handling for manufacturing, logistics and healthcare facilities.

Eneryield

ProductEnergy & GridSE

Provides AI-based fault prediction and analytics

Swedco (Sweco Group)

SupplierServices & EngineeringSE

Provides architecture and engineering consultancy services for sustainable urban development.

Refurbed

ProductConsumer HardwareINTL

Refurbed offers refurbished electronic devices, including smartphones, laptops, and tablets, promoting sustainable consumption through circular economy practices.

Innovationsföretagen

EnablerIndustry OrganizationSE

Industry organization representing consulting and architectural firms in Sweden.

Enrad AB

ProductManufacturing & Industrial TechSE

Enrad develops and manufactures eco-friendly refrigeration units and heat pumps, using a patented control system paired with a modular liquid cooling unit to cut energy consumption in commercial cooling systems.

Realfiction

ProductConsumer HardwareDK

Realfiction develops mixed reality solutions, including holographic displays for retail and events, enhancing customer engagement.

Element One Energy

ProductHydrogen & FuelsNO

Element One Energy (EoneE) develops high-efficiency electrolyzer and fuel cell systems based on Proton Exchange Membrane (PEM) technology to make green hydrogen a competitive decarbonized energy carrier.

IQM Quantum Computers

ProductSemiconductors & PhotonicsComputing & ConnectivityFI

IQM builds full-stack superconducting quantum computers, offering both on-premise systems and cloud access to enterprises, research institutions, and high-performance computing centers.

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 podcast

ALL 37 EPISODES →

Conversations with the founders and funders of Nordic hardtech.

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

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EP 30

Per Brickstad – Transparent & the Quest for Timeless Tech

#30. The Quest for Timeless Tech Per Brickstad , founder and chief designer at Transparent , joins us in our 30th episode – a milestone worth noting. Transparent is on a mission to become the world’s first circular tech brand, building modular and upgradable audio gear that challenges consumer electronics’ throwaway logic. From a Stockholm design studio to a global hardware company, this is the st

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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

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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 2

Pär Hedberg och Sting: Startupmaskinen som aldrig stannar

#2. Startupmaskinen som aldrig stannar Pär Hedberg , grundare av inkubatorn Sting , gästar podden och delar insikter från 20 år i svensk startupfront. Vi pratar om varför deeptech kräver en annan sorts investerare, hur man skapar tillväxtbolag i serie och varför varje team behöver någon som gillar fakturering. Sting har sedan starten 2001 blivit en av Europas mest respekterade inkubatorer, med röt

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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 33

Leo Ballesteros – Atonemo & When to Ignore the Market (At First)

#33: When to Ignore the Market (At First) Leo Ballesteros , founder of Atonemo , joins the podcast to share a brutally honest take on what it actually takes to build a consumer hardware company from scratch. From feature overload to ruthless simplification, this episode is about learning by doing. Every single day. Atonemo is building consumer electronics at the intersection of hardware, software

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EP 19

Jonas Genchel och Zparq: Poddmotorn från KTH som ska driva nästa marina skifte [SWE]

#19. Poddmotorn från KTH som ska driva nästa marina skifte Jonas Genchel , vd och medgrundare av Zparq , gästar podden och berättar hur bolaget utvecklar elektriska poddmotorer från grunden – med egenutvecklad drivlina, styrsystem och batteriteknik. Ambitionen är att göra båtbranschen tystare, grönare och smartare. Zparq föddes ur forskning på KTH och har sedan starten 2020 byggt ett team, säkrat

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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

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EP 6

Karin Ebbinghaus – Från bilbana till elväg: så elektrifierar Elonroad transportsektorn [SWE]

#6. Från bilbana till elväg: så elektrifierar Elonroad transportsektorn Karin Ebbinghaus , vd på Elonroad , gästar podden och berättar om hur bolaget transformerar sättet vi laddar elfordon – från stationär laddning till dynamiska elskenor som ger energi medan fordonet rullar. Det är en berättelse om hur ett experiment i Lego blev ett bolag med CE-märkta produkter, internationella kunder och ambit

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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

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EP 37

Lisa Eriksson (KTH Innovation) – Building Europe’s Deeptech Pipeline

37. Building Europe’s Deeptech Pipeline Lisa Eriksson , Head of KTH Innovation and CEO of KTH Ventures , joins the Nordic Hardtech Podcast to discuss what it takes to turn world-class research into venture-backed companies. KTH Innovation supports hundreds of founders, researchers and students every year, helping transform ideas into startups across fields such as AI, energy, semiconductors, life

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Insights

ALL INSIGHTS →

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

INSIGHT

Less is More: How Flic Pushed the Button on Scalable Hardware

How Flic turned a simple Bluetooth button into a profitable, VC-free global hardware business.

READ →
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

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 →
INSIGHT

The Hardtech Christmas List: What Nordic Founders Really Want

A December reflection on the unglamorous but essential conditions Nordic hardtech founders actually need to keep building.

READ →
INSIGHT

From Cockpit to Cap Table: Inside Nordic Defense Tech

A fighter pilot turned VC explains why defense tech founders validate with the wrong people.

READ →
INSIGHT

Glasses to ashes: why AR, VR and AI wearables keep failing: until they don’t

A decade of failed AR, VR and AI wearables shows execution, not vision, is hardtech's hardest problem.

READ →
INSIGHT

Geography Is Back On The Map

Eight Nordic hardtech firms show that staying close to factories and industry can be a competitive edge, not a limit.

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INSIGHT

The EU–US Trade Deal has Landed – Why the Nordic Hardtech Ecosystem Must Act Now

A 15% tariff just hit Nordic exports to the US. Here’s why it’s a wake-up call for hardtech — and what we must do next.

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INSIGHT

Human-in-the-Loop: The Economics of Staying in Control

Argues Nordic automation succeeds by keeping humans in the loop, turning oversight into a strategic economic advantage over full autonomy.

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INSIGHT

The Validation Economy

Donut Lab's battery claims show how independent validation itself becomes strategic currency in deep hardware.

READ →
INSIGHT

Under the Surface: How the Nordic Blue Hardtech Wave Is Rising

Nordic hardtech founders are turning to the ocean, building autonomous dredging robots, tidal kites and subsea sensors to drive a new blue economy.

READ →
INSIGHT

Nordic Hardtech x Lightbringer: IP just got interesting!

Tired of slow, expensive patents? Lightbringer flips the script. Discover how AI-driven IP can help you protect ideas, raise capital, and build real leverage.

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.