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.

157
Investors mapped
1012
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 157 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.

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

Nordic Angels

Angel networkSE

Angel investment network connecting Nordic investors with tech and impact-driven startups.

Backed:N/A

Radcap Ventures

Investment CompanySE

Early-stage investment firm focused on deep tech and climate-related innovation in the Nordics.

Backed:Rebaba, Simulair

I Love Lund

Investment CompanySE

I Love Lund is a publicly listed (Spotlight Stock Market, ticker LOVE B) local investment company founded in 2017 and headquartered in Lund, investing broadly across sectors with a focus on pre-seed, seed and Series A rounds in early-stage, mostly unlisted companies with a strong Lund connection. Its portfolio today comprises roughly 50 holdings spanning fintech, medtech, femtech, IoT sensors, defense/dual-use, materials and life science, alongside shareholder network and mentoring activities.

Backed:LifeFinder, Sensative, Stirlingversal, TrackPaw Scientific, Uman Sense, Valkyr Defense Systems, Cyclicor, Avidicare, BeammWave, Melisono, Re:notch Energy

Jinderman & Partners

Investment CompanySE

Jinderman & Partners is a Stockholm-based capital and knowledge hub for fast-growing companies in the Nordic market, guiding them through meetings with business angels, investor networks, venture capital firms and stock exchange listings. Most of its more than 50 portfolio companies are consumer, fintech and software plays, but the book also includes a handful of medtech hardware companies such as Chordate Medical, GPX Medical and Fluicell.

Backed:Chordate Medical, GPX Medical, Fluicell

Life Science Invest

Venture CapitalSE

Investing in Nordic life science and medtech companies. Pre-seed-early serie A.

Backed:Njord Medtech, Oxlantic, Resitu, Bioservo

Kompas VC

Venture CapitalDK

Copenhagen-based early-stage venture capital firm that has, since its founding in 2021, backed founders building enabling technologies for physical industries such as manufacturing, the built environment, and energy. In 2026 the firm closed a 160 million euro Fund II, backed by LPs including VKR Holding and new entrant Realdania, to keep investing at the intersection of the physical world and modern technology.

Backed:United Manufacturing Hub (UMH), Array Labs, Epoch Biodesign, General Biotechnologies, Found Industries, Tynt Technologies, Ecoworks, Material Evolution, fruitcore robotics, CyanoCapture, Point, Again

Nea Partners

Investment CompanySE

Growth equity investor supporting mature tech companies in the Nordics with active ownership.

Backed:Qvantum, Hammerglass, VisionSense

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

Volvo Group Venture Capital

Corporate VentureSE

Corporate VC arm of Volvo Group, investing in innovative startups in transport, mobility, and energy.

Backed:InductEV, Terratech, Powercell Sweden

LU Ventures

University Venture EntitySE

Investment arm of Lund University supporting spinouts and startups emerging from academic research.

Backed:N/A

Nordfas Invest AB

Investment CompanySE

Provides investment and development support to companies, focusing on long-term growth and innovation.

The ecosystem

ALL 1012 COMPANIES →

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

GEG Power (GEG Geoneer / GEG ehf.)

ProductEnergy & GridIS

GEG Power is an Iceland-headquartered geothermal developer that designs, engineers, manufactures and delivers turn-key modular geothermal wellhead power plants, from well to transmission-line connection.

Kaelus AB

ProductSemiconductors & PhotonicsAdvanced MaterialsINTL

Designs and manufactures RF conditioning and testing solutions for telecommunications.

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.

Stilfold

ProductManufacturing & Industrial TechSE

Develops sustainable manufacturing technology using robotic origami folding of steel, aiming to reduce material waste and production costs.

PDSVISION

SupplierComputing & ConnectivitySE

Offers software solutions and services for product development, including PLM and CAD tools.

Växjö Linnaeus Science Park

EnablerScience ParkSE

Supports innovation and entrepreneurship in the Växjö region.

Brainlink

ProductHealth & MedtechSE

Brainlink aims to create breakthrough medical devices for more effective diagnostics and treatment of neurological conditions, leveraging extensive clinical experience in neurosurgery and medtech development.

Gapwaves

ProductSemiconductors & PhotonicsAdvanced MaterialsSE

Designs mmWave antennas for automotive radar and 5G applications using waveguide technology.

Swedish M2M

EnablerIndustry OrganizationSE

Network promoting machine-to-machine communication and Internet of Things (IoT) technologies in Sweden.

Alight

ProductEnergy & GridSE

Alight develops, owns, and operates large-scale solar projects across Europe, offering clean energy solutions to industrial and commercial businesses.

Distance Technologies

ProductManufacturing & Industrial TechFI

Distance amplifies human perception with AI-driven optics and computer vision, delivering industrial-scale deep tech for defense, aerospace, and automotive applications.

Elektroskandia

SupplierDistribution & SupplySE

Distributor of electrical installation products, lighting, and industrial supplies.

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 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 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 7

Claes Kjölhede och Airolit: Svensk hardtech ur ett drönarperspektiv

#7 Svensk hardtech ur ett drönarperspektiv Claes Kjölhede , vd på drönarbolaget Airolit , intervjuas live på Evertiq Expo i Göteborg. Vi pratar om hur man bygger avancerade drönarsystem i Sverige – och vad som krävs för att leverera till både totalförsvar och forskningsvärld. Airolit grundades 2017 för att utveckla UAV/UAS-lösningar för krävande industriella användare. Med fabrik i Mölndal, partne

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EP 2

Pär Hedberg och Sting: Startupmaskinen som aldrig stannar

#2. Startupmaskinen som aldrig stannar Pär Hedberg , grundare av inkubatorn Sting , gästar podden och delar insikter från 20 år i svensk startupfront. Vi pratar om varför deeptech kräver en annan sorts investerare, hur man skapar tillväxtbolag i serie och varför varje team behöver någon som gillar fakturering. Sting har sedan starten 2001 blivit en av Europas mest respekterade inkubatorer, med röt

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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 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 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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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 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 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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Insights

ALL INSIGHTS →

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

INSIGHT

Human-in-the-Loop: The Economics of Staying in Control

Argues Nordic automation succeeds by keeping humans in the loop, turning oversight into a strategic economic advantage over full autonomy.

READ →
INSIGHT

Beta-perioden är över - vad nu?

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

READ →
INSIGHT

Why IP Is Your First Investor: And Your Strongest Advantage

Dominic Davies argues founders must treat IP as an early strategic asset, not a legal afterthought, to win investor trust.

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.

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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.

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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.

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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?

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INSIGHT

When Hardware Meets Awesome

Johan Ronnestam argues hardtech brands need archetypes and cultural resonance, not just working tech, to survive AI-driven disruption.

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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

The game beneath the game

Elite football's technology stack, from smart balls to computer vision, shows how Nordic hardtech is proving itself on the pitch.

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INSIGHT

Emilia Brandt on Why Growth Needs More Than Grit: and How Recuro Delivers

Recuro's new CEO explains why smart structure, not brute force, is what actually drives hardtech growth.

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INSIGHT

Lovable Just Went Unicorn: But Don't Let Deeptech Starve

A Nordic Hardtech contributor warns that Lovable's software unicorn success shouldn't overshadow the need to fund and support slower, harder deeptech innovation.

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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.