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.

177
Investors mapped
1236
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 177 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.

Trio Impact

University Venture EntitySE

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.

Backed:N/A

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

Snö Ventures

Venture CapitalNO

SNÖ Ventures is an Oslo-based early-stage VC investing in Nordic founders across software, gaming and consumer tech, with Peter Thiel as a strategic partner in its USD 100 million fund. Its one hardtech position is Nordic Air Defence, a drone interceptor maker it backed in 2024.

Backed:Nordic Air Defence

Northzone

Venture CapitalSE

Northzone is a multi-stage venture capital firm founded in 1996 in Oslo, now headquartered in London with offices across the Nordics, Amsterdam and New York, investing from seed through growth stage across Europe and the US. Its portfolio includes Spotify, Klarna, Einride and Black Forest Labs, and it has backed companies through more than 250 investments to date.

Backed:AirForestry, Asetek, Einride, Silex Microsystems, MicroAGI, Monumental

Lagercrantz Group

Investment CompanySE

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

Navigare Ventures

Venture CapitalSE

Stockholm-based early-stage investor in science-driven deeptech: advanced computing and quantum, synthetic biology, advanced materials, nanotechnology and data-driven life science. Founded in 2021 as a wholly owned subsidiary of Wallenberg Investments AB, it has now been integrated into Wallenberg Investments as part of its Ventures unit. It backs Seed and Series A companies, with permanent capital and no fund life cycle.

Backed:AlixLabs, SweGaN, TeraSi, Solinide Photonics, Profundus, EnginZyme, Interspectral, IntuiCell, Nordic Forestry Automation (NFA), Westra Materials, Ligna Energy, LunaLEC, AdamantQ

Herenco

Investment CompanySE

Herenco is a fourth-generation family-owned holding company based in Jönköping, Sweden, founded in 1865, structured around wholly owned business areas in packaging (Emballator), indoor climate/ventilation, sun protection and flooring, alongside minority stakes in listed companies such as Nolato, Balco, Lyko, Profoto and Fractal Design.

Backed:Nolato, Profoto

Axeleo Capital

Venture CapitalINTL

Early-stage venture capital firm investing in B2B tech startups, mainly in SaaS, enterprise software, and cybersecurity.

Longswan Ventures

Venture CapitalSE

Longswan Ventures is a Stockholm-based early-stage investor that invests in Nordic pre-seed/seed companies in the hardtech, defence and security domain.

Backed:Freya Industries (Freya)

Naika Invest

Investment CompanySE

Private equity firm investing in small and mid-sized businesses with long-term growth potential across the Nordics.

Backed:Cibes, Open Air

Christian Klibo

Business AngelDK

Christian Klibo is a Danish business angel and Lead Angel with DanBAN, the Danish Business Angels network, focused on HealthTech, MedTech, PropTech, data and governance. He and Berit Klibo have taken lead investor roles in several medtech deals, including Cystotech, a Danish medtech company developing an AI based diagnostic support tool that integrates with cystoscopy equipment for bladder cancer detection.

Backed:Cystotech

Verdane

Venture CapitalSE

Verdane is a European growth equity investor founded in 2003 and headquartered in Oslo, with offices in Stockholm, Copenhagen, Helsinki, London, Berlin and Munich. It backs tech-enabled and sustainable businesses across digitalisation and decarbonisation, with majority or minority positions in single companies or portfolios. It has made more than 200 investments and runs dedicated decarbonisation funds (Edda III at EUR 1.1 billion, Idun II at EUR 700 million). Hardtech exposure is a minority of the portfolio and is concentrated in energy technology and industrial technology (for example Muegge, r2p-Group, The Packaging Group, Dansk Gummi Industri, Factbird, Aptomar, Resman and Smartmotor), alongside a large software, marketplace and consumer book.

Backed:Muegge, r2p-Group, The Packaging Group, Dansk Gummi Industri, Factbird, Smartbox Group, Aptomar, Resman, Smartmotor, Re-Match

The ecosystem

ALL 1236 COMPANIES →

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

Ellipsis Drive

ProductComputing & ConnectivityINTL

Platform for sharing, hosting, and monetizing spatial data.

SeaPattern

ProductEnergy & GridSE

SeaPattern develops AI systems designed for optimizing synergy in electricity production, enhancing energy efficiency.

Envue Technologies (Acquired by NanoTemper Technologies)

ProductHealth & MedtechSE

A platform technology offering real-time and label-free analysis of biological nanoobjects at the single-molecule level for a wide range of life science applications.

Morrow Batteries

ProductEnergy Storage & BatteriesNOAcquired by Lyten

Morrow Batteries ASA is a Norwegian battery cell developer and manufacturer established in 2020, headquartered in Arendal, Norway, focused on LFP and high-voltage LNMO-X battery technologies for energy storage and electric vehicles.

Sooma Medical

ProductHealth & MedtechFI

Sooma Medical is a Finnish medical device company developing non-invasive brain stimulation devices for treatment of neurological and psychiatric disorders.

Aprilice

SupplierDistribution & SupplySE

Aprilice operates a B2B platform for solar energy products, connecting suppliers and installers to streamline the solar supply chain.

Calmon Stegmotorteknik AB

SupplierServices & EngineeringSE

Calmon specializes in motor control solutions, offering development and consulting services for BLDC, DC, and stepper motor systems.

Sorb Industri AB

SupplierDistribution & SupplySEAcquired by Lifco AB

Supplies industrial products and solutions, including filtration systems and components for various industries.

Zivid

ProductRobotics & AutomationSensors & InstrumentationNO

Zivid designs and sells 3D color cameras with vision software used in autonomous industrial robot cells, collaborative robot (cobot) cells and other industrial automation systems.

Elonroad

ProductMobility & TransportSE

Develops electric road systems for dynamic EV charging.

Renasens

ProductAdvanced MaterialsClimate & EnvironmentSE

Renasens has developed a clean, waterless recycling technology that transforms textile waste into valuable new resources, using modified supercritical CO₂ to separate and recycle blended textiles without depolymerization, toxic chemicals, or water.

Nexans

SupplierDistribution & SupplyINTL

Global leader in cable manufacturing, providing solutions for power and data transmission, supporting electrification and energy transition.

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 podcast

ALL 37 EPISODES →

Conversations with the founders and funders of Nordic hardtech.

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

LISTEN →
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

LISTEN →
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

LISTEN →
EP 36

Monica Bellgran – Produktionsänglar & Sveriges bortglömda konkurrensfördel [SWE]

36. Produktionsänglar & Sveriges bortglömda konkurrensfördel Monica Bellgran , vicerektor för innovation vid Mälardalen Universitet och medgrundare av Produktionsänglar , gästar podden för att prata om en av hardtech-världens mest underskattade utmaningar: att gå från prototyp till produktion. Från industrialisering och leverantörskedjor till automation, AI och geopolitik förklarar hon varför så m

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 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

LISTEN →
EP 31

Mala Valroy – Industrifonden & the State of Deep Tech 2025

#31. Industrifonden & the State of Deep Tech 2025 Mala Valroy , Investment Manager at Industrifonden , joins the podcast to share her journey from biochemistry and startups to leading investments in deep tech. With Industrifonden’s unique evergreen model, she breaks down what it really takes to earn a term sheet in 2025, why relationships matter more than pitch decks, and how resilience and sustai

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 →
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 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

LISTEN →
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

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 →

Insights

ALL INSIGHTS →

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

INSIGHT

Karoly Szipka on Making Machines Talk: and Building a Business Around It

IPercept's founder explains how CNC diagnostics and machine data could save Europe's aging industrial expertise.

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 Validation Economy

Donut Lab's battery claims show how independent validation itself becomes strategic currency in deep hardware.

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

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?

READ →
INSIGHT

When policy becomes a product constraint

Industrial policy now shapes hardtech product decisions early, forcing founders to decide how much strategic control to trade for public support.

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.

READ →
INSIGHT

The Deeptech Funnel: Why European Legacy Industry Must Stop Being a Spectator

Argues European legacy industry must engage deeptech startups earlier, during the demonstration phase, instead of waiting for finished technology.

READ →
INSIGHT

Congrats Lovable – A Cautionary Tale for Deeptech?

Lovable just became Europe’s latest unicorn – and it’s a win for Swedish innovation. But deeptech founders, take note: speed isn’t everything. If capital keeps chasing AI hype, critical climate and resilience tech may get left behind.

READ →
INSIGHT

Beta-perioden är över - vad nu?

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

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

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.

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.