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
1200
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.

Accelerace

Venture CapitalDK

Accelerace is a Copenhagen-based pre-seed investor and startup accelerator active across the Nordics and Baltics, having accelerated 1,000+ startups and made 120+ pre-seed investments (primarily first-time founders) since 2008; in October 2025 it merged with BioInnovation Institute.

Backed:Elby, Weedbot

Norrsken

Venture CapitalSE

A non-profit foundation and impact VC investing in startups that address global challenges through entrepreneurship and technology.

Butterfly Ventures

Venture CapitalFI

Early-stage deep tech VC investing in science-based Nordic startups across hardware and software.

Backed:10 Lines, Cooliblade, Geyser Batteries

Pale Blue Dot VC

Venture CapitalSE

Pale Blue Dot is a Malmö based seed stage venture capital firm founded in 2020 by Hampus Jakobsson, Heidi Lindvall and Joel Larsson. It backs pre-seed and seed climate tech startups across Europe and the US, having closed its debut fund at 87 million euros in 2021 and a second fund at 100 million dollars in 2023.

Backed:Pionix, Brineworks, Solarock, TANGIBLE, Staer, Pollen

Ericsson Ventures

Corporate VentureSE

Ericsson Ventures is the corporate venture capital arm of Ericsson, deploying capital directly from Ericsson's balance sheet (not raising from external LPs) to back startups strategically relevant to its wireless/network infrastructure business, with operations spanning Stockholm/Kista, Sweden and Santa Clara/Palo Alto, California, New York, Beijing and Barcelona. It focuses on next-generation networking, IoT, AI/ML for network automation, edge/cloud-native infrastructure, cybersecurity for connected devices, and next-generation wireless hardware, investing mostly at Series A/B alongside occasional seed extensions.

Backed:ChipAgents, Fabric8Labs, Einride, Nubis Communications, Pensando

SEB Greentech VC

Venture CapitalSE

SEB Greentech Venture Capital is the Swedish bank's corporate VC unit investing directly from SEB's balance sheet into green technology companies, mainly in the Nordic and Baltic region with a broader European reach. It writes initial tickets of SEK 10-40 million from a SEK 1 billion mandate, taking active minority stakes with board seats in hardware, software and platform companies working on renewable energy, energy storage, water and agricultural technology, circular business models and waste management.

Backed:AirForestry, C-Green Technology, Embedl, Echandia, CorPower Ocean, Qvantum, Rocsys, EnginZyme

Technology Development Fund (Tækniþróunarsjóður), administered by Rannís

Public FundingEU

Iceland's national competitive fund for technology-driven innovation, administered by Rannís (the Icelandic Centre for Research). Issues grants twice a year across four company grant categories (Seed/Fræ, Sprout/Sproti, Growth/Vöxtur, Market/Markaður) plus patent and applied research grants for R&D projects aimed at commercialization in Icelandic industry.

Backed:Navis (electric line-fishing boat design)

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

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)

Radcap Ventures

Investment CompanySE

RadCap Ventures is a Stockholm based angel network of 80+ female investors. It backs pre-seed and seed startups with at least 50 percent female or non-binary founders, writing tickets of 250 to 500 kSEK alongside mentorship and advisory support.

Backed:Enkei

Eviny Ventures

Corporate VentureNO

Eviny Ventures is the ~50 MEUR corporate venture capital arm of Norwegian energy utility Eviny, based in Bergen, investing from Seed to Series A in startups accelerating the electrification and energy transition across the Nordics and northern Europe, with roughly 20 portfolio companies and 3 exits to date.

Backed:Heimdall Power, Zinus, Really!, Cartesian, Photoncycle, Tequs, Amina, Voltfang, Bergen Carbon Solutions

Nordic Angels

Angel networkSE

Nordic Angels is an invite-only network and digital platform connecting over 2,500 Nordic angel investors with founders, offering deal flow, syndication tools, and events like the annual Angel Prize rather than making investments as a fund itself.

Backed:N/A

The ecosystem

ALL 1200 COMPANIES →

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

Ryde

ProductMobility & TransportSEAcquired by Equip Capital

Ryde operates an electric scooter sharing service, providing sustainable urban mobility solutions.

Arcoma

ProductHealth & MedtechSE

Arcoma designs and manufactures advanced digital radiography systems, providing high-quality imaging solutions for healthcare facilities worldwide.

E.ON

ProductEnergy & GridSE

Provides energy solutions focusing on sustainability, including smart grids and renewable energy systems.

Swetouch AB

SupplierDistribution & SupplySE

Supplies human-machine interface products including keyboards, touch screens, and control panels.

Airinum

ProductConsumer HardwareSE

Reusable filter masks with certified protection against pollution, pollen and allergens, designed in Sweden.

Acodyne

ProductAerospace & AviationAutonomous Systems & DronesDK

Acodyne is a Copenhagen-based deeptech aerospace startup developing autonomous electric eVTOL cargo aircraft for defence, offshore and remote logistics.

RanLOS

SupplierMobility & TransportSE

RanLOS is a Swedish technology company that develops and sells test solutions for wireless communication, used to measure and verify antenna and communication performance, with a primary focus on the automotive and defense industries.

UVRelining

ProductManufacturing & Industrial TechSE

With our UVRelining concept, you can expect streamlined processes, faster installation times, and unmatched performance.

Suturion

ProductHealth & MedtechSE

Suturion develops innovative solutions for surgical wound closure.

Hectronic AB

ProductComputing & ConnectivitySE

Designs and manufactures embedded computer systems for industrial applications.

Polestar

ProductMobility & TransportSE

Polestar is a premium electric vehicle manufacturer, developing high-performance EVs with a focus on design and sustainability.

Orcam Systems AB

ProductHealth & MedtechINTL

Develops AI-driven assistive technology devices for the visually impaired and those with reading challenges.

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 10

Kurt Högnelid och Waybler: Laddlogik för nästa elbilsvåg [SWE]

#10. Laddlogik för nästa elbilsvåg Kurt Högnelid , VD och medgrundare av Waybler , gästar podden och berättar hur bolaget bygger ett laddsystem för lägenheter och kontor – med smart styrning, lokal produktion och ett eget moln i ryggen. Kurt har grundat sju bolag inom medtech, IT och energi, och varit entreprenör i över 20 år. Med Waybler bygger han nu för tillväxt på en marknad som både boomat oc

LISTEN →
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 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

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EP 9

Isabella Palmgren och Mimbly: Cleantech, bokstavligt talat [SWE]

#9. Cleantech, bokstavligt talat Isabella Palmgren , vd och grundare av Mimbly , gästar podden och berättar hur ett studentprojekt från Chalmers blev ett prisbelönt cleantech-bolag med global potential. Mimbox minskar såväl vattenförbrukning som mikroplaster och är byggd för att fungera i verkligheten, inte bara i labbet. Vi pratar om vägen till en säljbar produkt, hur man skalar en hårdvarulösnin

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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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EP 22

Christoffer Johnsson: Från stock till kod – hur Taigatech transformerar en miljardindustri [SWE]

Det här avsnittet görs i samarbete med The Yard – en coworkingmiljö och verkstad för hardtech-startups i Göteborg. En kreativ plats med industriell känsla för dig som bygger fysiska produkter. Avsnitt 22. Från stock till kod – hur Taigatech transformerar en miljardindustri Christoffer Johnsson , vd på Taigatech, gästar podden och berättar hur bolaget kombinerar AI och industriell automation för at

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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 28

Dominic Davies – Lightbringer & the Patent Reboot: From Legal Grind to Founder Speed [ENG]

Episode 28: From Legal Grind to Founder Speed Dominic Davies , co-founder of Lightbringer , joins the pod to talk patents, automation and founder-first IP. With a background in both software and patent law, he’s now building a system that aims to replace the traditional patent firm entirely — starting with the needs of deeptech startups. From knowledge graphs to GPT-3, Lightbringer was born out of

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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 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 26

Alexander Engl – Build, Share, Repeat: How Makerspace and ihopa Enable Hardware for the Masses [ENG]

Episode #26 Build, Share, Repeat: How Makerspace and ihopa Enable Hardware for the Masses Alexander Engl joins the pod to talk about Stockholm Makerspace – a member-run 24/7 creative hub that empowers hardware builders, tinkerers and early-stage founders to bring physical ideas to life, without public funding or gatekeepers. We explore how the space grew to 1000+ members, how it's staying independ

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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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Insights

ALL INSIGHTS →

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

INSIGHT

Robotics That Count: 10 Bold Builders to Watch in the Nordics

A curated field guide to ten Nordic robotics companies showing where autonomy meets industry today.

READ →
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.

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

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 →
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

Deep Tech Needs to Go Deeper (Except Here)

A guest column argues Europe should focus on defensible niches like physical AI, quantum applications and precision biomanufacturing instead of chasing China everywhere.

READ →
INSIGHT

The New Industrial Stack

Nine Nordic startups are building the software layer that lets factories be programmed like computers.

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

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.

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.

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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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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.