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.

Kinnevik

Investment CompanySE

Kinnevik is a Swedish listed growth investment company, founded in Stockholm in 1936 by the Stenbeck, Klingspor and von Horn families. It backs technology-enabled companies from early to growth stage across healthcare, software and climate tech, holding a portfolio of 20+ larger companies including recent bets on green steel, heat pumps and battery technology.

Backed:Aira, Solugen, Stegra, Vay, Charm Industrial, Breathe Battery Technologies

Zenith VC

Venture CapitalSE

Zenith VC (Zenith Group AB) is a Stockholm based venture capital firm founded in 2015/2016 by Tommy Jacobson and Caroline Cronstedt. It backs early stage, post revenue Nordic B2B software companies with capital, network access and hands on operational support.

Backed:Minut

Chalmers Ventures

University Venture EntitySE

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

Backed:Atlantic Quantum, Modvion, Parakey

Volvo Cars Tech Fund

Corporate VentureSE

Volvo Cars Tech Fund is the corporate venture arm of Volvo Cars, based in Gothenburg and founded in 2018. It makes minority investments, typically EUR 1 million to EUR 5 million at seed, Series A and Series B, in mobility technology such as batteries, sensors, robotics, power electronics and sustainable materials. Its Nordic holdings include Altris, Varjo and Eliq, and it exited Forciot in 2025. Its latest recorded deals are Riiico (June 2025) and Breathe Battery Technologies (May 2025).

Backed:Altris, Forciot, Varjo, NEURA Robotics, StoreDot, Leadrive, Niron Magnetics, BComp, Luminar Technologies, FreeWire Technologies, UVeye, Viospatia, Spectralics, Breathe Battery Technologies

Energimyndigheten

Public FundingSE

The Swedish Energy Agency (Energimyndigheten) is Sweden's public authority for energy research, innovation and preparedness, providing grants and R&D funding to companies, academia and public bodies working on the transition to a fossil-free energy system.

Backed:Northvolt, Azelio, Minesto, Climeon

Novax

Venture CapitalSE

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.

Backed:RCO Group, Nimly, RCO Security, Swedlock, NitroCapt

Ericsson Ventures

Corporate VentureSE

Ericsson Ventures is the corporate venture capital arm of Ericsson. It invests directly from Ericsson's balance sheet and is based in Kista, Stockholm, with its main office in Santa Clara, California. It backs companies in networking, AI, cloud and edge infrastructure, and wireless and semiconductor hardware, and recent deals include Fabric8Labs, ChipAgents and Standard Kernel.

Backed:Actnano, AMEXCI, balena, ChipAgents, d-Matrix, Einride, Everactive, Fabric8Labs, Formant, Iris Automation, Launchpad, NanoSemi, Nubis Communications, Pensando, Sand9, Skorpios Technologies, Imagimob

Pale Blue Dot VC

Venture CapitalSE

Pale Blue Dot is a Malmö based seed stage climate tech 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 closed in 2023. Hardtech holdings include Staer, Paebbl, Brineworks, Cosmic Aerospace, Care Weather and Pollen.

Backed:Brineworks, Care Weather, Cinqo, Cosmic Aerospace, Ember, Paebbl, Pollen, Staer

EQT (Scaleup Europe Fund)

Investment CompanyPublic FundingSEEU

EQT is a Stockholm-founded global investment organization managing the Scaleup Europe Fund, a €5bn public-private growth vehicle backed by the European Commission and institutions including Novo Holdings, EIFO and Wallenberg Investments, aimed at scaling Europe's most promising deep-tech companies from Series B to pre-IPO.

Backed:ICEYE (Espoo-based SAR satellite constellation operator); EQT Ventures portfolio also includes The Exploration Company (aerospace/space)

Startuplab

Venture CapitalNO

Norway's leading incubator, accelerator and early-stage investor for tech startups, based in Oslo and Bergen, investing through its Founders Fund vehicle.

Backed:Photoncycle (solid hydrogen seasonal energy storage hardware), Huddly (AI camera hardware), reMarkable (e-paper tablet hardware), Sensibel (MEMS sensor hardware)

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

Provider Investment

Investment CompanySE

Provider Investment is a 100% family owned evergreen investment company founded by Johan Hernmarck, investing opportunistically in Swedish entrepreneurs with a preference for ideas scaled through software and digital technology. The portfolio spans B2B software plus a handful of industrial hardtech positions such as Flasheye and Mobilaris.

Backed:Flasheye, Mobilaris, Yubico

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.

Thiax

ProductManufacturing & Industrial TechDK

Thiax is a Danish deep-tech spin-out from DTU developing breakthrough X-ray inspection technology for advanced polymer and composite materials, enabling non-destructive, three-dimensional insight into a material's internal structure.

Boden Business Park

EnablerScience ParkSE

Boden Business Park focuses on creating optimal conditions for new businesses to start, existing businesses to grow, and companies to relocate, fostering a dynamic business environment.

Summa Semiconductor

SupplierManufacturing & Industrial TechFI

Summa Semiconductor offers fast, flexible and scalable manufacturing services for microelectronics and photonics, focused on small-to-medium volume production and R&D-to-production transfer.

Mobile Industrial Robots (MiR)

ProductRobotics & AutomationDK

MiR develops and manufactures autonomous mobile robots (AMRs) that automate internal transport and material handling for manufacturing, logistics and healthcare facilities.

IndustryHack

EnablerComputing & ConnectivityManufacturing & Industrial TechFI

Facilitates co-creation between companies and tech startups to develop new digital services in traditional industries.

DistIT

SupplierDistribution & SupplySE

Distributes IT and consumer electronics products through various subsidiaries across the Nordics.

Canatu

ProductAdvanced MaterialsMobility & TransportFI

Canatu is a carbon nanomaterial developer creating the most advanced carbon nanotubes for industry-transforming products, serving the semiconductor, automotive, and medical diagnostics industries.

LINTRON TECHNOLOGIES AB

ProductSemiconductors & PhotonicsAdvanced MaterialsSE

Designs and manufactures inductive components like transformers and coils for electronic applications.

Novanik AB

ProductDefence & SecuritySE

Develops advanced security solutions and technologies for defense applications, focusing on resilience and innovation.

SMP Parts

ProductManufacturing & Industrial TechSENO

We have extensive experience in manufacturing high-quality products for excavators. We design and manufacture our products in our own factory in Ilsbo, Sweden.

Levtek

ProductRobotics & AutomationSE

Develops AI-driven solutions for autonomous vehicle navigation and control systems.

Oceanvolt

ProductManufacturing & Industrial TechFI

Finnish manufacturer of electric and hybrid propulsion systems for sailboats and other marine vessels, founded in 2004.

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 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 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

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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

LISTEN →
EP 22

Christoffer Johnsson: Från stock till kod – hur Taigatech transformerar en miljardindustri [SWE]

Det här avsnittet görs i samarbete med The Yard – en coworkingmiljö och verkstad för hardtech-startups i Göteborg. En kreativ plats med industriell känsla för dig som bygger fysiska produkter. Avsnitt 22. Från stock till kod – hur Taigatech transformerar en miljardindustri Christoffer Johnsson , vd på Taigatech, gästar podden och berättar hur bolaget kombinerar AI och industriell automation för at

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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

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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 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 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

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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 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

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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 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

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

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 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

Predictions for 2026

Nordic and European hardtech voices share predictions on AI, energy resilience, robotics and Europe's push to lead in 2026.

READ →
INSIGHT

Robotics That Count: 10 Bold Builders to Watch in the Nordics

A curated field guide to ten Nordic robotics companies showing where autonomy meets industry today.

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

Gillar du podden? Betygsätt den!

Hårdvarupodden har funnits sedan juni 2024. Vi kommer fortsätta expandera under 2025 och fler nyheter kommer inom kort. Podden finns för lyssnarna – inget annat. Så, hur kan vi bli ännu bättre?

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

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 →
INSIGHT

TALES FROM THE TECH HUB: HARDWARE EDITION på The Yard i Göteborg (2 april)

Välkommen till Göteborgs techarena "The Yard" på ett exklusivt event om hur man bygger hårdvarubolag.

READ →
INSIGHT

Building Before You Ask for Permission

Atonemo's founder explains how reduction, timing and restraint shape consumer hardware development.

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 ↗
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Growth partner for tech and media companies, from strategy to execution.

RECURO.COM ↗
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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.