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.
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.
Fairpoint Capital
Fairpoint Capital is a Stockholm-based early-stage venture capital firm, spun out of SEB Venture Capital's technology team, that makes minority investments (late seed to Series B) in Nordic B2B technology companies; it closed its second fund at $60M in 2024 and remains backed primarily by SEB.
Flat Capital
Publicly listed Swedish investment firm, majority owner of Defensor Group, an industrial group built to become a leading player in the Nordic defense and security industry, with holdings including ArmaTech, SAFE4U, Zulu Marine, Novator Solutions and Crepitans. Also holds a stake in SpaceX.
Alsteron
Alsteron is a Stockholm-based, family-owned investment company founded in 2019 that focuses on the Scandinavian market, primarily investing in biotech, digital and technological innovation companies.
Tillväxtverket
Tillväxtverket is the Swedish Agency for Economic and Regional Growth, a government body that distributes EU structural funds, national grants and regional investment support to strengthen competitiveness and regional development across Sweden. It runs broad instruments such as regional investment aid, business-development checks and innovation support, open to companies in any sector, not a hardtech-specific fund with a public portfolio.
Innovestor
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.
Trio Impact
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.
Investo Capital
Investo Capital is a Danish venture capital firm based in Aalborg, founded in 2018 and backed by NOVI Innovation and Heartland. It invests in early growth Danish tech companies across medtech, industry 4.0 and water tech, and takes an active board role in each company it backs.
Climentum
European climate-focused VC investing in startups with measurable CO₂ reduction potential.
Investinor
Norway’s largest venture investor, providing growth capital to tech companies with international potential.
Norrsken VC
Impact venture capital fund investing in startups solving the world's greatest challenges.
Fåhraeus Startup and Growth
Fåhraeus Startup and Growth (FSG) is a Lund, Sweden-based venture capital fund focused on early-growth and expansion-stage life science and tech companies across the Nordics, with investments spanning MedTech, diagnostics, pharma, and deep tech.
Novax
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.
The ecosystem
ALL 1190 COMPANIES →Who builds, supplies and enables hardtech across the Nordics, from garage startups to industrial giants. Browse by role, phase and vertical.
Peak Energy
Peak Energy focuses on advancing sodium-ion battery systems for renewable energy storage solutions.
ArcticStartup
ArcticStartup is an independent technology news outlet reporting on digital startups and growth entrepreneurship in the Nordic and Baltic countries.
Augere Medical
A medical technology platform intended to assist endoscopists by aiding the detection of adenomas, sessile serrated lesions, and hyperplastic polyps in the colon.
Hemsek AB
Develops and manufactures electronic components and systems.
Neue
We provide the self-powered infrastructure that finally makes energy data visible.
Autoliv Sverige AB
Autoliv is the world's largest automotive safety supplier, developing and manufacturing protective systems such as airbags, seatbelts, and steering wheels for major automotive manufacturers globally.
OptiFreeze
Develops technologies to improve the quality and shelf life of food and plant-based products using vacuum infusion and pulsed electric fields.
NIBE Industrier
NIBE is a global group that develops and manufactures intelligent, energy-efficient indoor comfort solutions, including air and ground source heat pumps engineered with proprietary inverter technology.
European Spallation Source (ESS)
A pan-European research infrastructure under construction outside Lund, Sweden, hosting the world's brightest neutron source for materials and fundamental science.
Mouser Electronics
Distributes electronic components and semiconductors globally, serving engineers and procurement professionals with a vast inventory.
Victor Hasselblad AB
Manufactures high-end cameras and imaging equipment.
MyDefence
MyDefence is a Danish company developing radio frequency-powered counter-drone (C-UAS) products, including wearable, vehicle-mounted and perimeter systems, to detect and defeat unmanned aerial 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.
Open raises
SEE WHO IS RAISING →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 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 1 Stefan Ytterborn och Cake: Från hype till haveri
#1. Från hype till haveri Stefan Ytterborn , grundare av elfordonsbolaget Cake , gästar premiäravsnittet av Hårdvarupodden (numer Nordic Hardtech Podcast). Vi pratar om hela bolagsresan – från vision och hype till konkurs – och om vad andra kan lära sig av en resa som gick snabbt, snyggt och slutade tvärt. Cake satte en ny standard för elfordon. Men att bygga hårdvara, skala globalt och finansiera
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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 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
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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 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 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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EP 15 Ola Wassvik & Flatfrog: Att äga vägen till skalbarhet [SWE]
Ola Wassvik , medgrundare av Flatfrog , gästar podden och berättar hur bolaget tog en optisk multitouch-teknik från ett labb i Lund till en global marknad. I dag används Flatfrogs lösningar i allt från klassrum till styrelserum – men bakom framgången finns en annan avgörande faktor: patenten. Med över 300 patent i ryggen använde Flatfrog IP som ett strategiskt verktyg för att skydda sin teknik, sä
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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
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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
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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 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 →Insights
ALL INSIGHTS →What we have learned about building, scaling and funding hard things in the Nordics.
INSIGHT When Hardware Meets Awesome
Johan Ronnestam argues hardtech brands need archetypes and cultural resonance, not just working tech, to survive AI-driven disruption.
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?
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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 Building Before You Ask for Permission
Atonemo's founder explains how reduction, timing and restraint shape consumer hardware development.
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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 Livepodd i Göteborg på Evertiq-mässan
Torsdag den 19 september besöker podden Evertiq-mässan i Göteborg för att intervjua två intressanta bolag live på scenen: Airolit och Frontside. Jag (Jonas) står även på mässgolvet för samtal.
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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 →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.
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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 →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.
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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 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 →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.
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 ↗Swedish Incubators and Science Parks, the national infrastructure for innovation environments.
SISP.SE ↗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.