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
1132
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 journey from lab to factory.

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

Kompas VC

Venture CapitalDK

Copenhagen-based early-stage venture capital firm that has, since its founding in 2021, backed founders building enabling technologies for physical industries such as manufacturing, the built environment, and energy. In 2026 the firm closed a 160 million euro Fund II, backed by LPs including VKR Holding and new entrant Realdania, to keep investing at the intersection of the physical world and modern technology.

Backed:United Manufacturing Hub (UMH), Array Labs, Epoch Biodesign, General Biotechnologies, Found Industries, Tynt Technologies, Ecoworks, Material Evolution, fruitcore robotics, CyanoCapture, Point, Again

Nordic Ninja VC

Venture CapitalFI

NordicNinja VC is a Helsinki-based, Japan-backed venture capital firm founded in 2019 that invests in Series A stage climate tech, deep tech and digital society companies across Northern Europe, backed by Japanese corporates including Honda, Panasonic and Omron.

Backed:CorPower Ocean, Einride, Logmore, Mavenoid, Onego, Photoncycle, SEEQC, VSParticle, tozero, Starship Technologies, Varjo

Norrsken Launcher

Investment CompanySE

Norrsken Launcher is a Stockholm based early stage deeptech impact fund inside the Norrsken ecosystem. It runs a concentrated portfolio, investing 1 to 3 million euros in 2 to 3 companies per year and working hands on with founders for 3 to 9 months on team building, commercialization and fundraising.

Backed:Blykalla, Cellcolabs, Grale (formerly PlasticFri), Agteria, Renasens, SeaPattern, Cler, ThermalCyclones, ABC Labs

RunwayFBU

Venture CapitalNO

Early-stage VC fund, tech hub and industry software alliance based in Fornebu (Lysaker), Norway, investing $100k to $3m at pre-seed and seed into data-centric industrial technology that makes heavy industry more efficient, resilient and sustainable.

Backed:Sonair (patented 3D ultrasonic sensor hardware for robot autonomy)

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

Verdane

Venture CapitalSE

Verdane is an independent European growth equity investor that partners with tech-enabled and sustainable businesses to accelerate international growth, with offices in Oslo, Stockholm, Copenhagen, Helsinki, London, Berlin and Munich. Founded in 2003, the firm has made more than 200 investments across digitalisation and decarbonization themes, spanning growth to buyout stages.

Backed:Factbird, Resman, SmartMotor, Åkerströms, Smartbox Group

Skagerak Capital

Investment CompanySE

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

Backed:Trysil RMM, Optoscale, Stimline

Prima Materia

Investment CompanySE

Prima Materia is a Stockholm based investment company founded in 2020 by Daniel Ek and Shakil Khan. It builds and backs a small number of long term technology companies in Europe, with investments including Helsing and Neko Health.

Backed:Helsing, Neko Health

VTT Ventures

Corporate VentureFI

Venture arm of VTT Technical Research Centre of Finland, Finland's state-owned applied research institute, spinning off deep tech and industrial hardware startups from its own IPR.

Backed:Steady Energy (compact nuclear district heating reactors), IQM Finland (superconducting quantum computers), TactoTek (structural electronics), Hypermine (mineral processing tech), SemiQon (semiconductor quantum processors), Solar Foods

EQT Group (Scaleup Europe Fund)

Investment CompanySEEU

Stockholm-headquartered global investment organisation managing the EU-backed Scaleup Europe Fund, which targets Series B-to-pre-IPO European tech companies including hardtech sectors such as space, robotics and advanced industrial systems.

Backed:ICEYE (Espoo, Finland — SAR satellite constellation / sovereign space intelligence)

Curitas Ventures

Venture CapitalSE

Curitas Ventures is a Stockholm-based venture capital firm founded in 2020 by Mikael Ahlström and Gerda Larsson that invests in early-stage Nordic entrepreneurs across Disruptive Technology, Life Science and Sustainability; in 2025 its venture portfolio was acquired by Nordic Asia Investment Group 1987 AB, which now operates under the name Collaxio for its unlisted-investments strategy.

Backed:Qoitech, Volta Trucks (Truck HoldCo), C-Green Technology

The ecosystem

ALL 1132 COMPANIES →

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

Hemsek AB

SupplierServices & EngineeringSE

Develops and manufactures electronic components and systems.

Volvo AB

ProductMobility & TransportConstruction & Built EnvironmentSE

Swedish multinational manufacturer of trucks, buses, construction equipment, and marine and industrial engines, headquartered in Gothenburg.

ArgusEye

ProductHealth & MedtechSE

ArgusEye provides sensor solutions for real-time detection of biological systems and processes, using nanoplasmonic sensing combined with fiber optics.

Midsummer

ProductEnergy & GridSE

Manufactures thin-film solar panels and provides turnkey solutions for solar energy production, promoting sustainable energy.

Ericsson

ProductComputing & ConnectivitySE

Provides communication technology and services, including 5G infrastructure and IoT solutions.

Coloreel

ProductManufacturing & Industrial TechSE

Provides instant thread dyeing technology for embroidery, enabling on-demand color changes.

Fastlane Devs

SupplierComputing & ConnectivitySE

Provides software development services, specializing in web and mobile applications.

Medistim

ProductHealth & MedtechNO

Medistim is a market leader within intraoperative transit time flow measurement (TTFM) and ultrasound imaging, providing the MiraQ system to the global market for cardiac, vascular and transplant surgery.

Augere Medical

ProductHealth & MedtechNO

A medical technology platform intended to assist endoscopists by aiding the detection of adenomas, sessile serrated lesions, and hyperplastic polyps in the colon.

Skrym

ProductRobotics & AutomationSE

Provides AI-driven logistics optimization solutions to reduce environmental impact and improve efficiency.

O4 Network

EnablerScience ParkINTL

Operates coworking spaces and innovation hubs, fostering entrepreneurship and collaboration.

Elektron Music Machines

ProductConsumer HardwareSE

Develops electronic musical instruments and performance tools.

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 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

LISTEN →
EP 23

Linda Krondahl från Things: Från hype till handling – hur deeptech blir business [SWE]

Avsnitt 23. Från hype till handling – hur deeptech blir business Linda Krondahl , vd på Things och medgrundare till Ignite Sweden , gästar podden och berättar om sin resa från solenergiprojekt i Indien till att bygga ett nav för deeptech i Sverige. Det här är ett avsnitt om hur affärer slår visioner – och varför svenska storbolag måste vakna. Vi pratar om hur Things blev en katalysator för hardtec

LISTEN →
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

LISTEN →
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

LISTEN →
EP 3

Ulrika Tornerefelt och Stella Futura: Från grön vision till laddad expansion [SWE]

#3. Från grön vision till laddad expansion Ulrika Tornerefelt , grundare av Stella Futura , gästar podden och berättar om resan från hållbarhetsrådgivning till att bygga ett snabbväxande energibolag. Från Västafrika till svenska stödtjänstmarknaden, och från idé till skalbar affärsmodell inom “battery as a service”. Vi pratar om lönsam expansion, affärsmodellering, finansieringsstrategier och hur

LISTEN →
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

LISTEN →
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

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

LISTEN →
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

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

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

LISTEN →
EP 16

Anders Hässel och Nenda: Streamingrevolutionen för företag [SWE]

#16. Streamingrevolutionen för företag Anders Hässel , vd och grundare av Nenda , gästar podden och berättar hur bolaget utvecklar en modern streamingplattform för företag – med hårdvara, molntjänster och affärsmodeller anpassade för B2B-marknaden. Målet: att ersätta föråldrade TV‑lösningar med smart, skalbar teknik. Nenda grundades med en tydlig idé: att förändra hur företag inom hotell, vård och

LISTEN →

Insights

ALL INSIGHTS →

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

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

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

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

The Hard Way: The Nordic Way

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

READ →
INSIGHT

When infrastructure thinks like nature

Flox's CTO explains how edge hardware, acoustics and AI guide wildlife away from roads, railways and airports.

READ →
INSIGHT

Now Launching: Nordic Hardtech

READ →
INSIGHT

Emilia Brandt on Why Growth Needs More Than Grit: and How Recuro Delivers

Recuro's new CEO explains why smart structure, not brute force, is what actually drives hardtech growth.

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 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

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.

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

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 →

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.