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.

174
Investors mapped
1157
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 174 INVESTORS →

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

Lagercrantz Group

Investment CompanySE

Technology group investing in and developing B2B companies in electronics and communication.

Granitor

Investment CompanySE

Granitor is a Swedish family-owned corporate group active in real estate, contracting/installation services (electro, environmental technology) and, through Granitor Growth Management, long-horizon growth investments in cleantech and life-science companies developing patented, breakthrough technologies with global potential.

Backed:CorPower Ocean, Minesto, Reliefed, Novatron Fusion Group, Kärnfull Next (Kärnfull Future), Captimise, PowerCell (former holding, exited)

Qarlbo

Investment CompanySE

Qarlbo is the Stockholm-based family office of EQT founder Conni Jonsson, active in entertainment, hospitality, financial holdings, property, biodiversity and energy. Its energy arm, Qarlbo Energy, is jointly owned with FAM and invests in green hydrogen infrastructure through its subsidiary Hydri, which builds and operates hydrogen refuelling stations for heavy transport across Sweden.

Backed:Qarlbo Energy, Hydri, Braathens Renavia

Tesi

Venture CapitalFI

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

Backed:Sisu Auto, Haltian, Oura

Expansion Ventures

Venture CapitalINTL

Expansion Ventures is a pan-European VC firm (Paris and Stockholm) launched in 2022, targeting a €300M fund dedicated to Aerospace & Defence startups from pre-seed to Series B, with a Stockholm-based General Partner (Ulf Palmnäs) giving it genuine Nordic roots alongside its French base.

Backed:Aldoria, Alta Ares, Arkadia, Ascendance Flight Technologies, Atmos, Dcubed, EOS Technologies, ExoBiosphere, HyPrSpace, Ion-X, Latitude, Look Up, Miratlas, Osmos-X, Reorbit, Space Cargo, Univity, U-Space, Zephalto, The Exploration Company

Longrun Capital

Investment CompanySE

Longrun Capital is a Stockholm venture capital firm that backs early-stage Nordic companies building hardware for the green transition, with a portfolio focused on advanced materials, energy and water technology for the built environment.

Backed:Drupps, GreenIron, NSS Water, Ekolution, 3eflow, Hybridized

Backing Minds

Investment CompanySE

A VC firm investing in overlooked markets and underrepresented founders, aiming to expand access to capital.

Backed:Cemvision, NitroVolt

Arctic Ventures

Investment CompanySE

Arctic Ventures is the angel-investment vehicle managed by Arctic Business Incubator (ABI), investing exclusively in startups admitted to ABI's incubator across northern Sweden, from Skellefteå to Kiruna. It is backed by a network of dozens of business angels together with the state-owned fund Saminvest, and provides seed-stage convertible-loan capital to companies spanning space, industry, gaming and IT.

Backed:Nordic Quick Systems

Scaleup Europe Fund (managed by EQT)

Public FundingInvestment CompanySEEU

Scaleup Europe Fund is a EUR 5 billion growth fund managed by EQT, targeting European technology scaleups from Series B through pre-IPO in sectors including AI, quantum, space, clean energy and biotech. It was founded by the European Commission alongside investors including Novo Holdings, Allianz, APG, EIFO, CriteriaCaixa and Santander/Mouro Capital, and made its first investment in August 2026, co-leading ICEYE's EUR 1 billion Series F round.

Backed:ICEYE

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

Energetik VC

Venture CapitalINTL

Energetik Ventures is a London-based early-stage venture capital fund backing founders building the next generation of energy technologies, with a portfolio spanning computing hardware, battery materials, storage systems, vertical farming and grid/EV software across Europe.

Backed:Vaire Computing, Intelligent Growth Solutions, Puraffinity, Lunar Energy, Moixa, Echion Technologies

Life Science Invest

Venture CapitalSE

Investing in Nordic life science and medtech companies. Pre-seed-early serie A.

Backed:Njord Medtech, Oxlantic, Resitu, Bioservo

The ecosystem

ALL 1157 COMPANIES →

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

Precimeter

ProductManufacturing & Industrial TechSE

Precimeter develops sensors and control systems for molten metal level measurement, serving the metal casting industry.

Freya Industries

ProductDefence & SecuritySensors & InstrumentationSE

Freya builds the intelligence layer for physical security: connected sensors and the platform that turns what they capture into actionable insights, designed in Sweden and built for Europe.

Innovationsföretagen

EnablerIndustry OrganizationSE

Industry organization representing consulting and architectural firms in Sweden.

Metaktik

ProductDefence & SecuritySpaceFI

Finnish deep-tech company building ultra-lightweight, high-performance metasurface antenna solutions for aerospace, defense, security and telecom sectors, spun out of Aalto University's Space Technology Laboratory.

Advalight

ProductHealth & MedtechDK

Advalight develops advanced dual-wavelength and CO2 laser technology for medical and aesthetic dermatology.

Rolls-Royce SMR

ProductNuclearEnergy & GridSEINTL

Rolls-Royce SMR designs, develops and deploys factory-built small modular nuclear reactors, delivering a modular, standardised pressurised water reactor solution for clean baseload power.

Cetasol

ProductRobotics & AutomationSE

Develops AI-based solutions for energy optimization in marine vessels.

Careturner

ProductHealth & MedtechDK

Careturner is a unique and innovative new system designed to automatically reposition patients, as well as supporting care staff with daily mobilization and repositioning of the patient.

EmbeddedArt Group AB

ProductDefence & SecuritySE

C Security Systems develops and markets security solutions, including GPS tracking and alarm systems for personal and asset protection.

Toshiba

ProductSemiconductors & PhotonicsAdvanced MaterialsINTL

Multinational conglomerate providing a wide range of products and services, including electronics and energy systems.

Optonova

ProductManufacturing & Industrial TechSE

Optonova is a leading international supplier of automatic inspection systems for manufacturing industries, offering vision technology, machine learning and optics services.

Flox Intelligence

ProductRobotics & AutomationSE

Develops autonomous robotic solutions for wildlife management and agriculture. Formerly FLOX Robotics.

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 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

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

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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

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EP 17

Alexander Osika om Glorb, SNRGY och att kickstarta hårdvara på riktigt [SWE]

#17.Om Glorb, SNRGY och att kickstarta hårdvara på riktigt Alexander Osika , vd och medgrundare av SNRGY Studios , gästar podden och berättar hur teamet tog Glorb – ett smart ljuskonstverk – från idé till marknad. Med bakgrund från Plejd och Einride, och med en passion för produktdesign, har Alexander blivit en av Sveriges mest spännande hårdvarubyggare. Här delar han resan bakom Glorb – från prot

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EP 24

Henrik Jonsson och agood company: Cirkulärt varvet runt – mobilskalet som vill rädda planeten [SWE]

#24.Cirkulärt varvet runt – mobilskalet som vill rädda planeten Henrik Jonsson , vd på agood Company , gästar podden och berättar hur bolaget bygger cirkulära konsumentprodukter i stor skala – med lokal produktion som vapen mot klimatkrisen. Från en idé om att sälja direkt till konsument till att i dag samarbeta med jättar som Deutsche Telekom – här är berättelsen om hur hållbarhet blev affär. Ago

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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 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 27

Karoly Szipka – IPercept & the CNC Whisperers: From PhD to Predictive Power [ENG]

Episode #27 – IPercept & the CNC Whisperers: From PhD to Predictive Power Karoly Szipka , founder and CEO of IPercept , joins the podcast to share how a research project on machine efficiency became a fast-scaling deeptech company with some of Europe’s largest industrial players as customers. With AI, patented hardware, and a “fitness tracker” for CNC machines, IPercept is redefining predictive ma

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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 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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Insights

ALL INSIGHTS →

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

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.

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

Built to Endure: How Nordic Hardtech Turns Fear into Function

Explores how fear, war, and geopolitical uncertainty are reshaping Nordic hardtech into a driver of resilience and dual-use innovation.

READ →
INSIGHT

Vi ses snart!

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

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.

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INSIGHT

The Hard Way: The Nordic Way

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

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INSIGHT

Geography Is Now Part of the Product

Asia's rising tensions are turning geography into a core engineering and procurement variable for Nordic hardtech firms.

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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

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

The Unscalable Edge: why hardtech wins by starting slow

Argues that hardtech's early, unscalable phase builds the real-world knowledge that later makes scale possible.

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INSIGHT

Gothenburg Rising: where legacy meets innovation

An analysis of how Gothenburg's industrial legacy and collaborative culture are fueling its rise as a Nordic hardtech hub.

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INSIGHT

From stubbornness to breakthroughs: the case for difficult founders

Industrifonden's Mala Valroy explains why she backs stubborn, bold deep tech founders over comfortable, consensus-seeking ones.

READ →

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.