For everyone building hard things in the Nordics.

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.

Horizon Europe is the EU's flagship research and innovation funding programme (2021-2027, ~€93.5B budget), whose EIC Accelerator and EIC Fund provide blended grant/equity financing to deep-tech and hardtech startups and SMEs across the EU and associated countries, including recurring Nordic recipients (e.g., Swedish and Danish EIC Accelerator winners) and EIC info-day activity in the Nordics (e.g. Copenhagen). Because it funds via competitive, rolling calls with only partial per-round public disclosure, no single exhaustive portfolio list exists; qualifies as a Public Funding instrument rather than a conventional VC.

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.

Starbright Invest is a Jönköping-based venture capital firm founded in 2015 that invests primarily in Swedish seed and Series A rounds, typically SEK 5-15 million per company, with a focus on technology and sustainability. Its hardtech-relevant bets include Einride, the autonomous electric truck maker, and Zigrid, which turns industrial waste heat into power.

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.

Pale Blue Dot is a Malmö based seed stage venture capital firm founded in 2020 by Hampus Jakobsson, Heidi Lindvall and Joel Larsson. It writes EUR 0.5 million to EUR 2 million tickets in pre-seed and seed software and hardware companies across Europe and the US, from Fund I of EUR 87 million and Fund II of EUR 93 million. It is still investing, with a lead in the Pollen seed round and a pre-seed in Distill in 2026. Hardtech holdings include Staer, Paebbl, Brineworks, Cosmic Aerospace, Care Weather, Cinqo and Pollen.

Turbine Capital is a Stockholm-based early-stage venture capital fund initiated by the Sting incubator, investing in Nordic deeptech companies from pre-seed to Series A. The fund is anchored by Saminvest and backed by industrial partners including Saab, Volvo Cars and Scania, plus the European Investment Fund.

Kichi Invest is a Stockholm private investment firm founded in 2016 by Oscar Ingdahl and Paradox Interactive founder Fredrik Wester, backing Nordic growth stage companies with a broad mandate spanning SaaS, consumer brands and fintech. Its clearest hardtech bet is electric motorcycle maker Stark Future, alongside stakes in Epidemic Sound, Marshall Group, Estrid and Lunar.

Norwegian venture and growth investor focused on sustainable tech and cleantech innovation.

Technology transfer office and venture arm of SINTEF, based in Trondheim, Norway. It manages seed and early-stage funds (SINTEF Venture IV, V and VI) that invest in spin-offs from SINTEF and NTNU research. SINTEF Venture VI was established in 2022 with NOK 517 million and has backers including the European Investment Fund, KLP and Investinor. Recent hardtech investments include Sonair, Cartesian, Hystar and sensiBel.

The startup incubator and investment arm of Chalmers University, supporting deep tech ventures from research to market.

Formica Capital is a Gothenburg-based Swedish family office and investment company founded in 2018 by the Olsson Eriksson family, investing with a long-term, active-ownership approach in mid-sized Nordic companies across health, environment, education, cyber security and cleantech that combine commercial performance with positive societal impact.

IT and management consultancy offering digital transformation services.

ICEYE designs, builds, launches, and operates constellations of synthetic aperture radar (SAR) satellites, delivering persistent Earth-observation monitoring for governments and commercial customers.

Controlant combines reusable IoT environmental tracking devices with a cloud-enabled software platform to deliver real-time, end-to-end cold-chain visibility for pharmaceutical supply chains.

Offers intelligent building infrastructure solutions, including smart lighting and sensor networks.

Provides an AI-powered app to track and reduce corporate CO2 emissions from commuting and business travel.

Develops renewable energy solutions combining design and sustainability for urban environments.

Pytronic is an innovative company aiming to revolutionize the Smart Home and energy market by providing solutions that improve everyday lives, focusing on energy optimization and user privacy.

Innovation hub focusing on drone technology and applications.

A science park fostering innovation and collaboration in digital media, energy, and logistics sectors.

Offers prototyping labs and support services for hardware product development in Stockholm.

Vaisala is a company specialised in weather, environmental and industrial measurements.

Nox Medical provides sleep specialists with patient-friendly diagnostic devices and robust, reliable data collection.