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 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.
Spark Capital
Spark Capital is a US venture capital firm headquartered in Boston, San Francisco and New York, founded in 2005. It invests across stages from seed to growth in consumer, enterprise, fintech, AI and frontier tech, with holdings spanning software platforms as well as hardware, robotics and aerospace companies.
Noon Ventures
Copenhagen-based early-stage venture capital fund founded in late 2020, investing in deeptech and hardtech companies tackling climate and environmental challenges, with a concentrated portfolio of five companies where partners take an active, hands-on role with each founding team.
Norrsken
A non-profit foundation and impact VC investing in startups that address global challenges through entrepreneurship and technology.
Bust
Nordic early-stage investor backing mission-driven founders building global companies.
Herenco
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.
Backing Minds
A VC firm investing in overlooked markets and underrepresented founders, aiming to expand access to capital.
Nordic Foodtech VC
Early-stage venture capital firm investing in deep foodtech across the Nordics and Baltics, backing startups building new technologies for food and agriculture.
LU Ventures
LU Ventures is Lund University's venture builder and corporate investment arm, founded in 1999, that co-invests equity and builds spinouts with researchers across deep tech and life science. Its portfolio spans semiconductors, robotics, connectivity, medtech and pharma, and includes exits such as SAGA Diagnostics, acquired by Roche.
Eyrir Invest
Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders.
I Love Lund
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.
InnoEnergy (EIT InnoEnergy)
InnoEnergy is the EU-backed clean tech investor founded in 2010 by the European Institute of Innovation and Technology, headquartered in Eindhoven with a Swedish entity, KIC IE AB, in Stockholm. It holds equity stakes in 160+ active companies and has backed Nordic hardtech names including Minesto, CorPower Ocean and Northvolt, alongside battery, hydrogen and materials plays across Europe.
Navigo
Navigo Invest is a Gothenburg-based investment company listed on Nasdaq First North Premier. It was founded in 2007 as Pegroco Invest and buys mostly Swedish B2B small and medium-sized companies. Its hub companies are CalorMet (industrial furnaces and heat treatment), Geogruppen (geotechnics), Chemgroup (chemicals handling) and Vinga (finance). It also holds strategic stakes in Nordisk Bergteknik and Alelion (lithium-ion battery systems) and a minority stake in UPerformance.
The ecosystem
ALL 1233 COMPANIES →Who builds, supplies and enables hardtech across the Nordics, from garage startups to industrial giants. Browse by role, phase and vertical.
Lexenergy
Provides energy optimization platforms for smart grid and renewable energy integration.
Kyoto Group
Kyoto Group is a leading thermal battery manufacturer whose flagship Heatcube delivers clean, low-cost heat from electricity, replacing fossil-fuel burners to decarbonize industrial operations.
Donut Lab
Helsinki-based e-mobility technology company developing an integrated EV platform combining in-wheel motors, solid-state batteries, control electronics and software, used across automotive, robotics, marine, aerospace and defense sectors.
Citupia
Specializes in big data analytics for smart mobility and urban development, offering consulting services for sustainable urban mobility.
J2 Sourcing / 5A
Provides sourcing and distribution services for electronic components.
Smart Eye
Smart Eye provides AI-based eye-tracking technology for automotive and research applications, enhancing safety and user experience.
Windeed
Develops scalable, cost-effective floating offshore wind technology for clean energy production.
Doublepoint (Acquired by ŌURA)
Doublepoint is a Helsinki-based company specializing in AI-driven, biometric gesture recognition technology that enables people to control wearable devices, AR/VR headsets and IoT systems with simple, natural hand movements using IMU sensors.
Uniogen
Uniogen is a Finnish frontrunner in diagnostics solutions and instrumentation for life sciences, specializing in developing and manufacturing innovative diagnostic tests, assay components, and instruments.
Alltronic AB
Alltronic AB supplies electronic components and systems, serving industries with a range of products and technical support.
Fremtidens Industri (FI)
FI – Future Innovations (Fremtidens Industri AS) is one of Norway's leading innovation companies, connecting industry and research to accelerate solutions across sectors from ocean and space to energy and defence.
SaltX Technology
SaltX Technology is a Swedish greentech company that develops and offers technology for electrification and carbon capture for energy-intensive industrial processes, aimed at the cement, lime, steel and mining industries.
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 podcast
ALL 37 EPISODES →Conversations with the founders and funders of Nordic hardtech.
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 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 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 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 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 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
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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 25 Joacim Westlund Prändel – Less is More: How Flic Pushed the Button on Scalable Hardware [ENG]
🤝 This episode is produced in collaboration with Lightbringer – the patent service helping founders move faster. With AI at its core and senior attorneys in-house, they streamline the patent process and set a new standard for how growth-stage teams secure what’s theirs. Episode #25 Less is More: How Flic Pushed the Button on Scalable Hardware What if turning off a light or flipping a music sheet c
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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 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 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 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 →Insights
ALL INSIGHTS →What we have learned about building, scaling and funding hard things in the Nordics.
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.
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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.
READ →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.
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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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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 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.
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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.
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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 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.
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INSIGHT Vi är live!
På rekordtid (?) har vi gått från idé till handling och skapat Hårdvarupodden.
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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.
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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 →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.