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
1183
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.

Alsteron

Investment CompanySE

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.

Backed:Echandia, CorPower Ocean, Wayout, Dirac Research

CVX Ventures

Angel networkDK

CVX Ventures is a Copenhagen-based investment platform, founded in 2020, that connects a network of 600+ Danish and Nordic business angels and investors with growth-stage start-ups, offering capital, board placements and advisory support rather than investing from a traditional fund structure.

Backed:Samphire Neuroscience, Soilsense, Hexastate, Robotto, NADMED, SC-Tronics, Careturner, Sternula, Flow Loop, PerfusionTech

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

Tesi

Venture CapitalFI

Finnish government-owned investment company supporting sustainable economic growth through equity investments in Finnish companies.

Backed:Sisu Auto, Haltian, Oura

Nordic Makers

Venture CapitalDK

Nordic Makers is an angel led, Nordic early stage investor founded in 2016 by serial entrepreneurs behind exits like Zendesk, Just Eat and Sitecore. Based in Stockholm and Copenhagen, it now writes 500k to 1m euro checks into pre-seed and seed B2B software startups across the Nordics, with a handful of earlier bets touching nuclear, wearables and IoT hardware.

Backed:Minut, Seaborg Technologies, NextMind, Atech, Donkey Republic

Sune Alstrup

Business AngelDK

Sune Alstrup is a Copenhagen based tech investor and DanBAN Lead Angel with a background in eye tracking and deeptech, having founded and exited The Eye Tribe to Facebook/Oculus. He invests personally as an angel in early stage deeptech and hardware startups, with tickets typically in the tens of thousands of euros.

Backed:Hybird Energy, Doublepoint, Nextmind, Sonarworks, Obital

Norrsken VC

Venture CapitalSE

Impact venture capital fund investing in startups solving the world's greatest challenges.

Backed:Heart Aerospace, Northvolt, Einride

Expansion Ventures

Venture CapitalINTL

Expansion Ventures is a pan-European VC firm (Paris and Stockholm) launched in 2022, targeting a €300M fund dedicated to Aerospace & Defence startups from pre-seed to Series B, with a Stockholm-based General Partner (Ulf Palmnäs) giving it genuine Nordic roots alongside its French base.

Backed:Aldoria, Alta Ares, Arkadia, Ascendance Flight Technologies, Atmos, Dcubed, EOS Technologies, ExoBiosphere, HyPrSpace, Ion-X, Latitude, Look Up, Miratlas, Osmos-X, Reorbit, Space Cargo, Univity, U-Space, Zephalto, The Exploration Company

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

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

Centripetal

Investment CompanySE

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

Backed:Occlutech, Einride, Voi

Innovation Norway

Public FundingNO

Norway's state-owned instrument for grants, loans and guarantees to innovative companies, spanning early oppstartstilskudd startup grants through billion-kroner risk loans for battery gigafactories under the green industrial push. In 2025 it deployed 9.4 billion NOK across grants, loans and guarantees, with rolling applications year round.

Backed:Evyon, Beyonder, Morrow Batteries, Vianode, Cenate, Freyr Battery, BipBop Robots, Kitemill, Hyme, Appsens

The ecosystem

ALL 1183 COMPANIES →

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

HVR Cardio

ProductHealth & MedtechFI

HVR Cardio is a cardiovascular device company developing breakthrough solutions for mitral valve repair based on its proprietary HELIX technology.

Yangi

ProductManufacturing & Industrial TechSE

Yangi is a technology provider for dry formed cellulose-based packaging, using proprietary dry forming machine lines to turn paper pulp into ready-made packaging as a replacement for plastic.

Medeon Science Park

EnablerScience ParkSE

A science park focused on life science and health tech, offering infrastructure and support for startups and research institutions.

Net Insight

ProductComputing & ConnectivitySE

Provides media transport solutions, enabling efficient and reliable video streaming and broadcasting services.

3Sonic

ProductHealth & MedtechDK

3Sonic is a novel perioperative 3D ultrasound imaging device used to improve accuracy during cancer surgery.

Indicio Tec

ProductRobotics & AutomationSE

Offers AI-driven forecasting tools for businesses to detect market trends without coding.

Elywhere

ProductEnergy & GridMobility & TransportNO

Elywhere designs and manufactures charger-plus-battery-storage EV charging stations that let fast charging work at sites where the local grid cannot support it.

Prototal Group AB

SupplierServices & EngineeringSE

Prototal specializes in 3D printing, vacuum casting, aluminum tools, and injection molding products, enabling clients with reduced development costs and risks. Formerly Prototal Group AB.

Haldex

SupplierMobility & TransportManufacturing & Industrial TechSE

Haldex is a leading manufacturer of reliable and innovative brake systems and air suspension solutions that enhance the safety, dynamics and durability of heavy vehicles.

Tibber

ProductEnergy & GridSE

Offers a digital platform for smart energy consumption and management for households.

Evyon

ProductEnergy Storage & BatteriesEnergy & GridNO

Evyon repurposes second-life EV batteries into battery energy storage systems (BESS) for commercial, industrial and residential applications.

Kvalitest Sweden AB

SupplierServices & EngineeringSE

Offers materials testing, environmental testing, and measurement 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 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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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 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

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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

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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 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 27

Karoly Szipka – IPercept & the CNC Whisperers: From PhD to Predictive Power [ENG]

Episode #27 – IPercept & the CNC Whisperers: From PhD to Predictive Power Karoly Szipka , founder and CEO of IPercept , joins the podcast to share how a research project on machine efficiency became a fast-scaling deeptech company with some of Europe’s largest industrial players as customers. With AI, patented hardware, and a “fitness tracker” for CNC machines, IPercept is redefining predictive ma

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EP 26

Alexander Engl – Build, Share, Repeat: How Makerspace and ihopa Enable Hardware for the Masses [ENG]

Episode #26 Build, Share, Repeat: How Makerspace and ihopa Enable Hardware for the Masses Alexander Engl joins the pod to talk about Stockholm Makerspace – a member-run 24/7 creative hub that empowers hardware builders, tinkerers and early-stage founders to bring physical ideas to life, without public funding or gatekeepers. We explore how the space grew to 1000+ members, how it's staying independ

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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

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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 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 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 →

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

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

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

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

Quantum That Counts: 10 Nordic Quantum Pioneers to Watch

A curated look at ten Nordic companies turning quantum research into commercial hardware and software.

READ →
INSIGHT

Nordic Hardtech x Lightbringer: IP just got interesting!

Tired of slow, expensive patents? Lightbringer flips the script. Discover how AI-driven IP can help you protect ideas, raise capital, and build real leverage.

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

Print, Charge, Scale: Then Go Again

How Exeger's Giovanni Fili built a flexible solar cell platform and factory from scratch against the odds.

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 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

When infrastructure thinks like nature

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

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.