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
1192
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.

Innovestor

Venture CapitalFI

Innovestor is a Helsinki based venture capital firm founded in 2014, investing in early-stage technology and life science startups across the Nordic and Baltic regions through its Technology Fund, Life Science Fund and Angel CoFund, alongside a corporate venturing arm and a commercial real estate business.

Backed:Granarium Technologies, Bioretec, ZenRobotics, Amertate, Sooma Medical, Brinter, Uniogen (Abacus Diagnostica / Kaivogen / Labrox), Monidor, 9Solutions, SpinDrive, HVR Cardio, Chip Metrics, Linkker, LNGTainer, Dobbelganger, Cajo Technologies, SuperGround

Eyrir Invest

Investment CompanyEU

Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders.

Backed:Marel (JBT Marel), Össur, Carbon Recycling International

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

Concejo

Investment CompanySE

Concejo AB (publ) is a Nasdaq Stockholm-listed Swedish investment company headquartered in Nacka, structured around two business areas: Concejo Industrier, which holds majority stakes in operating industrial companies mainly in fire/gas safety, and SBF Fonder, an asset manager for Swedish residential real estate funds; it also holds minority stakes in Nordic listed and unlisted technology/growth companies via associate holdings.

Backed:SAL Navigation, BeammWave, Xenergic, Firenor International, ACAF Systems, Optronics Technology, Charge Amps, Trifilon

Kick Kapital

Angel networkSE

Kick Capital is a Swedish business angel investment vehicle backed by 35 regional business angels and the state venture capital firm Saminvest, run jointly by Blekinge Business Incubator, Kalmar Science Park and Företagsfabriken i Kronoberg. It invests 300,000 to 500,000 SEK via convertible loans exclusively in startups admitted to these three incubator programs in southeastern Sweden.

Backed:Carbo Gaia, Neurawave, Upmanure, Fernandi Innovation, TXG ECOBogie, Guldhov EquiTech

Prota Ventures

Venture CapitalINTL

Prota Ventures is a venture-building and early-stage investment firm headquartered in Chicago, founded in 2016, that invests financial and non-financial capital in technology startups from concept to launch. No Nordic office, partner, or portfolio company has been identified, so its inclusion on a Nordic map is questionable.

Backed:Bird Buddy, CarlsMed, Glidance

Monen Invest

Investment CompanySE

Monen Invest is an investment company based in Umeå that backs early and growth stage innovation companies across northern Sweden. It provides capital, hands on experience and long term ownership, co-investing through networks such as Northern Light Capital and Arctic Ventures, and also holds a stake in engcon through its group structure.

Backed:Enduce, Phygrid, Dirac, Cropcision, engcon

Centripetal

Investment CompanySE

Invests in early-stage climate tech startups that aim to accelerate decarbonization through scalable innovation.

Backed:Occlutech, Einride, Voi

AGV Invest

Investment CompanySE

AGV (All Generation Ventures) is a Stockholm-based PropTech-focused investment firm investing in early-stage Nordic real estate technology ventures, with a focus on sustainability and decarbonization solutions for the real estate industry.

Backed:Wayoo

Voima Ventures

Venture CapitalFI

Voima Ventures is a venture capital firm founded in 2019 with offices in Helsinki and Stockholm. It invests in science-based deep tech startups across the Nordics and Baltics, from pre-seed to Series A and B, and closed a EUR 100 million Fund III backed by the European Investment Fund, Tesi, VTT and Saminvest.

Backed:Solar Foods, Dispelix, Paptic, Betolar, Infinited Fiber Company, Adamant Health, Aisti, Sooma Medical, Liquid Sun, Cellfion, Geyser Batteries, Reduciner, ArgusEye, TheStorage, Agate Sensors, Photoncycle, Nucu

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

Further Than Capital

Investment CompanySE

Early-stage investment firm supporting impact-driven startups solving global challenges.

Backed:Terasi, Radtonics

The ecosystem

ALL 1192 COMPANIES →

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

Newcore

SupplierServices & EngineeringSE

Provides consultancy services for product lifecycle management and sustainability in manufacturing.

Dirac

ProductConsumer HardwareSE

Develops digital audio processing technology for enhanced sound experiences in consumer electronics.

Enduce

ProductEnergy & GridSE

Develops energy optimization solutions for buildings using AI and IoT technologies.

Sting

EnablerIncubator & AcceleratorSE

A Stockholm-based incubator and accelerator supporting startups in various sectors, offering coaching, funding, and networking opportunities.

Gasmet Technologies

ProductManufacturing & Industrial TechFI

Gasmet develops, manufactures and markets a complete range of high quality gas analyzers based on FTIR (Fourier Transform Infra Red) technology, and accessories for industrial use and professionals around the world.

Navari (Navari Surgical)

ProductHealth & MedtechSE

Navari Surgical has developed a unique, patent-pending technology that provides intraoperative augmented reality (AR) guidance during minimally invasive procedures, empowering surgeons with enhanced visualization and precision.

Etteplan Sweden AB

SupplierServices & EngineeringSE

Provides engineering services and solutions to industrial companies, focusing on product development and technical documentation.

Kassow Robots (Acquired by Bosch Rexroth)

ProductRobotics & AutomationDK

Kassow Robots founded in Copenhagen, Denmark is developing and producing unique and efficient 7-axes lightweight collaborative robots for industrial applications.

Safeture

ProductComputing & ConnectivitySE

Safeture offers a platform for employee safety and risk management, providing real-time information and communication tools.

CTEK

ProductEnergy Storage & BatteriesSE

CTEK designs, develops and sells products that resolve a battery's need when it comes to recovery, maintenance and charging, including 12V/24V battery chargers and EV charging solutions.

Exail Norway (Exail AS)

ProductDefence & SecurityMaritime & OceanNOINTL

Exail is a leading high-tech industrial group specializing in cutting-edge robotics, maritime, navigation, aerospace and photonics technologies, delivering critical solutions to defense and civil operators worldwide.

HyEnGen

ProductHydrogen & FuelsSE

HyEnGen develops a long-life electrode that produces hydrogen from water in a more sustainable and cost-effective way than current methods, working toward scaling into an electrolysis cell for larger systems.

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 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 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 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

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EP 8

Helene Winberg och Frontside: När fabriken växer av sig själv [SWE]

#8. När fabriken växer av sig själv Helene Winberg , vd och delägare av Frontside , intervjuas live på Evertiq Expo i Göteborg. Vi pratar om hur man skalar svensk kontraktstillverkning utan PR-maskin och hype, men med djupt fokus på kvalitet och kompetens. Frontside har producerat elektronik i Mölnlycke sedan 1990. Under ett tioårigt generationsskifte tog Helene över ledarskapet i familjeföretaget

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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

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EP 5

Rickard Bröms och Vässla: Full gas till fritt fall [SWE]

#5. Full gas till fritt fall Rickard Bröms , grundare av Vässla , gästar podden och berättar hur bolaget gick från Blockets enda elmoppe till internationell elfordonssatsning – och till slut in i rekonstruktion. Vi pratar om produktstrategi, supply chain, kapitaljakt och vad som händer när verkligheten kör över visionen. Men också om hur en idé kan leva vidare, även efter en konkurs. I det här avs

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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

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EP 37

Lisa Eriksson (KTH Innovation) – Building Europe’s Deeptech Pipeline

37. Building Europe’s Deeptech Pipeline Lisa Eriksson , Head of KTH Innovation and CEO of KTH Ventures , joins the Nordic Hardtech Podcast to discuss what it takes to turn world-class research into venture-backed companies. KTH Innovation supports hundreds of founders, researchers and students every year, helping transform ideas into startups across fields such as AI, energy, semiconductors, life

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EP 14

Ramtin Massoumzadeh och Quandify: IoT som rinner rakt in [SWE]

#14. IoT som rinner rakt in Ramtin Massoumzadeh , vd och medgrundare av Quandify , gästar podden och berättar hur de byggt en patentskyddad, icke-invasiv vattenmätare – och tagit sig från KTH-labb till lönsam IoT-skala. Quandify utvecklar smart vattenmonitorering utan att riva rör. På några år har de växt till ett team på 20 personer, över 40 MSEK i omsättning och en teknik redo för internationell

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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 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 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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Insights

ALL INSIGHTS →

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

INSIGHT

Who Makes the Nordic Hardtech Canon?

A playful editorial ranks the inventions and companies that define Nordic hardtech's lasting industrial legacy.

READ →
INSIGHT

Vi ses snart!

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

READ →
INSIGHT

Höstens åtta avsnitt – här är lärdomarna och råden

Under hösten det släppts åtta avsnitt där jag intervjuat ledare för hårdvarubolag. Det har varit åtta unika samtal, med gemensamma nämnare. Vad kan andra (hårdvaru)bolagsbyggare lära sig?

READ →
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.

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

Under the Surface: How the Nordic Blue Hardtech Wave Is Rising

Nordic hardtech founders are turning to the ocean, building autonomous dredging robots, tidal kites and subsea sensors to drive a new blue economy.

READ →
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 →
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

Glasses to ashes: why AR, VR and AI wearables keep failing: until they don’t

A decade of failed AR, VR and AI wearables shows execution, not vision, is hardtech's hardest problem.

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

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

Norway Isn’t Loud. That Might Be Its Advantage.

A guest essay on why Norway's understated hardtech ecosystem in defence, robotics and energy is becoming strategically important.

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.