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
1192
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.

Volvo Cars Tech Fund

Corporate VentureSE

Volvo Cars Tech Fund is Volvo Cars' corporate venture arm, based in Sweden and active since 2018. It makes minority investments in early stage mobility and automotive technology companies, covering electrification, autonomous driving, digital mobility services and manufacturing or supply chain efficiency, giving Volvo Cars strategic access to the technology it backs.

Backed:Riiico, Altris, Niron Magnetics, Forciot, NEURA Robotics, Breathe Battery Technologies, Leadrive, Dcbel, StoreDot, Viospatia

Nordfas Invest AB

Investment CompanySE

Nordfas Invest AB is a Gullspång, Sweden based family investment company owned by the Lööf family. Its core holding is Partex Marking Systems, a global manufacturer of industrial wire, cable and component marking systems, and it has more recently backed the youth wellness app SoulBuddy.

Backed:Partex Marking Systems

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

Lifeline Ventures

Venture CapitalFI

Lifeline Ventures is a Helsinki-based, sector-agnostic early-stage venture capital firm founded in 2009. It invests from pre-seed through growth stages across deeptech, climate, health and consumer sectors, and closed a 400 million euro sixth fund in 2025 to keep backing founders from first check through scale.

Backed:Akkurate, Altum Technologies, Arctic Instruments, Calectra, Carbo Culture, CurifyLabs, Dispelix, Ductor, Elea & Lili, Enevo, Griffin Refineries, Helix Nano, HyCom Core, Hyperion Robotics, Iceye, Illutherm, Karsa, Koherent, Proteins.1, Solar Foods, P2X Solutions, Sulapac, Oura, Reduciner, TheStorage, Minima Processor, TILT Biotherapeutics

EUDIS BAMM

Public FundingINTL

EUDIS BAMM (Business Accelerator) is a public, non-dilutive funding and coaching instrument of the EU Defence Innovation Scheme, run by the European Commission's Directorate-General for Defence Industry and Space together with a Starburst-led consortium. It selects cohorts of 20 European (EU + Norway) defence-tech start-ups and scale-ups twice a year, giving each a €120,000 seed-financing voucher plus coaching, bootcamps and investor/end-user matchmaking.

Backed:3YOURMIND, Autoagri, Defensphere (Vegvisir), Edge Aerospace, Elwave, Fernride, Fiducial, Munich Quantum Instruments, Nanomade, Nautrik, Nordic Air Defence, Radical Builders, U-Space, UAB Luna Robotics, VoxelSensors, Zeabuz

Nefco

Public FundingINTL

Nefco, the Nordic Green Bank, is a Nordic-owned international finance institution founded in 1990 by the five Nordic governments and headquartered in Helsinki. It provides loan financing, EIF-backed guarantees and Nopef feasibility funding to Nordic SMEs scaling green, climate and environmental solutions internationally, alongside financing for municipal and public projects in Eastern Europe and beyond.

Backed:Bawat, MASH Makes, SolarLab, Racell, Aeromon, Coolbrook, Merus Power, Norsepower, Sulapac, Carbon Recycling International, DTE, Thor Ice Chilling Solutions, Automasjon og Data, Kube Energy, Kyoto Group, Norwegian Hydrogen, Elonroad, Sensative, TM Systems, Sterner, Emerald Geomodelling, Cycled Technologies

InnoEnergy (EIT InnoEnergy)

Public FundingInvestment CompanySEEUINTL

InnoEnergy is the EU-backed clean tech investor founded in 2010 by the European Institute of Innovation and Technology, headquartered in Eindhoven with a Swedish entity, KIC IE AB, in Stockholm. It holds equity stakes in 160+ active companies and has backed Nordic hardtech names including Minesto, CorPower Ocean and Northvolt, alongside battery, hydrogen and materials plays across Europe.

Backed:Minesto, Hardt Hyperloop, Verkor, CorPower Ocean, GravitHy, Skeleton Technologies, ecop, Northvolt, H2 Green Steel, Mine Storage, Vulcan Energy Resources, Euro Manganese, Prime Battery Technologies, Nevomo, Empyrio, Coat-it, Pure Battery Technologies, Basquevolt, Phynix, Phytonics, Heliup, iON-Energy, FertigHy, Holosolis, Solaqua, Zbox, Rivus Batteries, TaiSan, Nordluft, VolagHy, Energiot, ROSI, GeoLinks, Equinox Ocean Turbines, ElevenEs, Sunwafe, Stockholm Water Technology

Jinderman & Partners

Investment CompanySE

Jinderman & Partners is a Stockholm-based capital and knowledge hub for fast-growing companies in the Nordic market, guiding them through meetings with business angels, investor networks, venture capital firms and stock exchange listings. Most of its more than 50 portfolio companies are consumer, fintech and software plays, but the book also includes a handful of medtech hardware companies such as Chordate Medical, GPX Medical and Fluicell.

Backed:Chordate Medical, GPX Medical, Fluicell

SINTEF Venture

Corporate VenturePublic FundingNOEU

Corporate venture capital arm of SINTEF, one of Europe's largest independent research organizations. Commercializes IP and spins out deep tech ventures from SINTEF and NTNU research, investing through successive seed and early-stage funds (SINTEF Venture III through VI).

Backed:Sonair, Cartesian, Hystar, MoreScope, Mia Health, poLight, Nomono, Zivid

Kongsberg Innovation

Investment CompanyNO

Kongsberg Innovation is a Norwegian, Kongsberg-based business incubator and early-stage investor backed by Kongsberg Gruppen, Kongsberg Automotive, Equinor, TechnipFMC, Siemens Energy and other industrial owners. It runs the Kongsberg Pre-Seed Fund, typically investing 1 to 2 million NOK in first equity rounds in Norwegian B2B deep tech startups across maritime, ocean tech, energy transition, advanced manufacturing and industrial digitalisation.

Backed:Applied Autonomy, Kitemill, Kongsberg Ferrotech, N2 Applied, Distributed Ship Surveillance, ProfMOF, Vasshella Flexibles, REMB Technologies, Vinterfjord, Kyoto Group, Scale Protection, Electric Mobility Norway, Abalonyx, Cartesian, Tequs, Brudeli Green Mobility

KTH Ventures

University Venture EntitySE

Investment company affiliated with KTH Royal Institute of Technology, supporting commercialization of research and innovation. Formerly KTH Holding. Formerly KTH Ventures.

Backed:Simulair, Dappler Labs, Novatron

Sandwater

Venture CapitalNOEU

Sandwater is an Oslo based venture capital firm investing in early stage companies developing novel solutions in climate, energy and healthcare.

Backed:1X Technologies (humanoid robotics), Nofence (virtual fencing hardware), Evyon (second life battery storage), Antec Biogas (plug flow reactors), Filics (warehouse robotics), CardioSignal (cardiac digital biomarker device)

The ecosystem

ALL 1192 COMPANIES →

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

Airwatergreen

ProductManufacturing & Industrial TechSE

Airwatergreen AB is a Swedish air treatment company that offers energy-efficient dehumidification in all climates.

Nilar

ProductEnergy & GridSE

Develops and manufactures advanced nickel-metal hydride (NiMH) battery systems for energy storage applications.

Simplex Motion

ProductRobotics & AutomationSE

Simplex Motion develops integrated servomotors with compact design and high performance for motion control applications.

Atonemo

ProductConsumer HardwareSE

Atonemo builds the Streamplayer, a pocket-sized wireless streaming device that adds AirPlay, Google Cast and Bluetooth streaming to any existing speaker, amplifier or hi-fi system.

SU Inkubator

EnablerResearch InstitutionSE

Stockholm University's incubator supporting research-based startups and innovation.

Bulbitech

ProductHealth & MedtechNO

Bulbitech delivers AI-powered eye-tracking technology that screens for ophthalmological and neurological disorders.

Science Park Borås

EnablerScience ParkSE

Science Park Borås supports innovation in textiles, consumption, and societal development, fostering sustainable solutions.

Effee Group

SupplierManufacturing & Industrial TechEnergy & GridNO

Effee Group delivers innovative services and solutions in the induction heating space for onshore and offshore markets, including induction machine manufacturing and robotic welding for on-site repairs.

Sterner

ProductManufacturing & Industrial TechNO

Sterner Group AS is a Norwegian company that designs and delivers water treatment and recirculating aquaculture system (RAS) technology for aquaculture, drinking water, wastewater and maritime markets.

Lindholmen Science Park

EnablerScience ParkSE

Facilitates collaboration between industry, academia, and public sector in innovation projects.

Novatron Fusion Group

ProductEnergy & GridSE

Develops a novel fusion reactor design, aiming to create a new approach to sustainable energy generation.

Univrses

ProductRobotics & AutomationSE

Specializes in 3D computer vision and machine learning for autonomous systems and smart city applications.

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 13

Giovanni Fili från Exeger: att bygga ett imperium cell för cell [SWE]

#25. Att bygga ett imperium cell för cell Giovanni Fili , grundare och vd för Exeger , gästar podden och berättar hur bolaget tagit fram en helt ny typ av solcell – och byggt en fabrik runt visionen. Det här är berättelsen om hur svensk deeptech trotsar oddsen: från egenutvecklade nanopartiklar och patenterade elektroder till en fullt automatiserad fabrik mitt i Stockholm. Powerfoyle, Exegers ljus

LISTEN →
EP 32

Daniel Wentz – Greenely & the Rise of the Virtual Power Plant

#32. The Rise of the Virtual Power Plant Daniel Wentz , Chief Product Officer at Greenely , joins the podcast to unpack one of the most interesting shifts in consumer energy: the rise of home batteries, intelligent orchestration, and virtual power plants. With a background leading global connected-device software at Electrolux, he shares why trust and control are the foundation of any energy produ

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EP 34

Max Villman – From Cockpit to Cap Table: Inside Nordic Defense Tech

#34. From Cockpit to Cap Table: Inside Nordic Defense Tech Max Villman , former Swedish fighter pilot and now defense tech investor at Gungnir , joins the Nordic Hardtech Podcast for a grounded conversation on what really matters in modern defense innovation. With first-hand experience from the cockpit and deep exposure to today’s European and Ukrainian defense tech ecosystems, Max shares what fou

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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 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 21

Madelene Näslund: Business Region Gothenburg – Live from The Yard [ENG]

🤝 This episode is produced in collaboration with The Yard — a combined coworking space and machine hall for startups in Gothenburg. A unique workspace with industrial feeling. Check out their memberships or take a tour . Episode 21 – Gothenburg Rising: Where Legacy Meets Innovation Madelene Näslund from Business Region Gothenburg joins us to explore why the city is emerging as a leading Nordic har

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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 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 7

Claes Kjölhede och Airolit: Svensk hardtech ur ett drönarperspektiv

#7 Svensk hardtech ur ett drönarperspektiv Claes Kjölhede , vd på drönarbolaget Airolit , intervjuas live på Evertiq Expo i Göteborg. Vi pratar om hur man bygger avancerade drönarsystem i Sverige – och vad som krävs för att leverera till både totalförsvar och forskningsvärld. Airolit grundades 2017 för att utveckla UAV/UAS-lösningar för krävande industriella användare. Med fabrik i Mölndal, partne

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EP 25

Joacim Westlund Prändel – Less is More: How Flic Pushed the Button on Scalable Hardware [ENG]

🤝 This episode is produced in collaboration with Lightbringer – the patent service helping founders move faster. With AI at its core and senior attorneys in-house, they streamline the patent process and set a new standard for how growth-stage teams secure what’s theirs. Episode #25 Less is More: How Flic Pushed the Button on Scalable Hardware What if turning off a light or flipping a music sheet c

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EP 5

Rickard Bröms och Vässla: Full gas till fritt fall [SWE]

#5. Full gas till fritt fall Rickard Bröms , grundare av Vässla , gästar podden och berättar hur bolaget gick från Blockets enda elmoppe till internationell elfordonssatsning – och till slut in i rekonstruktion. Vi pratar om produktstrategi, supply chain, kapitaljakt och vad som händer när verkligheten kör över visionen. Men också om hur en idé kan leva vidare, även efter en konkurs. I det här avs

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EP 11

Staffan Stymne och T.Loop: Spillvirke för AI-eran

#11. Spillvirke för för AI-eran Staffan Stymne , vd och medgrundare av T.Loop gästar podden och berättar hur de bygger datacenter som både driver AI och balanserar elnätet – med återbruk, överskottsenergi och smart lokalisering som kärna. Med 30 års erfarenhet från energisektorn tog Staffan steget in i tech för att visa att datakraft inte behöver kosta klimatet. I dag bygger T.Loop för den nya era

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Insights

ALL INSIGHTS →

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

INSIGHT

Now Launching: Nordic Hardtech

READ →
INSIGHT

Europe Doesn't Have an Innovation Problem

KTH Innovation's Lisa Eriksson argues fragmentation, not lack of innovation, holds back Europe's deeptech scaleups.

READ →
INSIGHT

Vi ses snart!

Hårdvarupodden är under utveckling och de första avsnitten släpps våren 2024.

READ →
INSIGHT

Your product isn’t ready: and Michael Pica knows why

Hardware Velocity's Michael Pica explains why hardtech founders must validate demand before scaling production, not just believe in their idea.

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

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

Höstens åtta avsnitt – här är lärdomarna och råden

Under hösten det släppts åtta avsnitt där jag intervjuat ledare för hårdvarubolag. Det har varit åtta unika samtal, med gemensamma nämnare. Vad kan andra (hårdvaru)bolagsbyggare lära sig?

READ →
INSIGHT

The game beneath the game

Elite football's technology stack, from smart balls to computer vision, shows how Nordic hardtech is proving itself on the pitch.

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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?

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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.

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INSIGHT

Beta-perioden är över - vad nu?

Under våren har vi spelat in fem avsnitt av Hårdvarupodden för att testa konceptet.

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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.

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.