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.

180
Investors mapped
1255
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 180 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.

Butterfly Ventures

Venture CapitalFI

Early-stage deep tech VC investing in science-based Nordic startups across hardware and software.

Backed:10 Lines, Cooliblade, Geyser Batteries

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

Volvo Group Venture Capital

Corporate VentureSE

Corporate venture arm of Volvo Group, founded in 1997 and based in Gothenburg with a second office in Greensboro, US. Invests in startups across electrification, logistics services, site solutions and climate tech, with over 80 investments to date including direct startup stakes and commitments to sector-focused venture funds.

Backed:CPAC Systems, Peloton Technology, Momentum Dynamics

Marvelous Deeptech

Venture CapitalDK

Marvelous is a Berlin based pre-seed and seed investor backing European deeptech founders in physics, chemistry and biology, with a focus on advanced materials, waste valorisation and robotics across food and agriculture, the built environment and heavy industry. The firm runs two vehicles, Marvelous Ventures Fund I for direct investments and the Marvelous Scito Fund, an evergreen fund of funds anchored by a 20 million euro commitment from the Joachim Herz Stiftung, alongside its Catalyst industry partnership network.

Backed:NANOPLUME, ABSORA, SEAL Robotics

Icebreaker VC

Venture CapitalFI

Icebreaker.vc is a Helsinki-based early-stage venture capital firm founded in 2017 that invests in idea-stage and pre-seed teams in Finland, Sweden and Estonia, with first tickets up to €1.5M. The firm has supported over 100 teams since inception and its second fund is backed by the European Union's InnovFin Equity programme under Horizon 2020 and EFSI.

Backed:ReOrbit, Roadcloud, Zymego, Finnadvance, Logmore

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

Investinor

Venture CapitalNO

Norway’s largest venture investor, providing growth capital to tech companies with international potential.

Backed:Onio, Numascale, poLight

Inflection

Venture CapitalINTL

Inflection is an early-stage venture fund investing 500K to 2M dollars at idea, pre-seed and seed stage in engineering moonshots across computation, cryptography, physical AI, robotics, manufacturing, energy, resilience and aerospace, with a geographic preference for Europe. It has led Nordic rounds including the 2025 pre-seed extension for Stockholm-based drone defence startup Nordic Air Defence and backed Malmö robotics company Levtek.

Backed:Levtek, Stealth, Ark, Nordic Air Defence, Deep Earth, Lodestar, Ubitium, Fabric, Radical, Aptos, Arx, Hologram, Foundation

Further Than Capital

Investment CompanySE

Early-stage investment firm supporting impact-driven startups solving global challenges.

Backed:Terasi, Radtonics

Nordic Alpha Partners

Investment CompanyDK

Nordic Alpha Partners is a Copenhagen based industrial greentech growth fund investing across two funds worth roughly 400 million EUR since 2017. It uses an operational value creation toolkit to scale portfolio companies in energy transition, agriculture, building and construction, industrial process innovation, circular economy and waste, and water and wastewater.

Backed:Additive Drives, STABL, Sunroof, Green Hydrogen Systems, Agrointelli, Airwatergreen, MicroShade, DyeMansion, Wiferion, Re-Match, Variolytics, AquaGreen

InnoEnergy (EIT InnoEnergy)

Public FundingInvestment CompanySEEUINTL

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.

Backed:Minesto, Hardt Hyperloop, Verkor, CorPower Ocean, GravitHy, Skeleton Technologies, ecop, Northvolt, H2 Green Steel, Mine Storage, Vulcan Energy Resources, Euro Manganese, Prime Battery Technologies, Nevomo, Empyrio, Coat-it, Pure Battery Technologies, Basquevolt, Phynix, Phytonics, Heliup, iON-Energy, FertigHy, Holosolis, Solaqua, Zbox, Rivus Batteries, TaiSan, Nordluft, VolagHy, Energiot, ROSI, GeoLinks, Equinox Ocean Turbines, ElevenEs, Sunwafe, Stockholm Water Technology

Antler

Venture CapitalSENODKFIINTL

Global early-stage venture capital firm with a dedicated always-on residency model in the Nordics, investing from day zero through Series C.

Backed:Evyon (battery storage from repurposed EV batteries)

The ecosystem

ALL 1255 COMPANIES →

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

InCoax Networks

ProductComputing & ConnectivitySE

Provides broadband access solutions using existing coaxial networks.

SolTech Energy

ProductEnergy & GridSE

A solar energy group offering integrated solar solutions, including solar panels, energy storage, and smart energy management systems.

Proteins.1

ProductHealth & MedtechSensors & InstrumentationFI

A VTT-originated Finnish deep-tech startup commercializing a patented, physics-based single-molecule protein amplification platform that aims to bring PCR-like amplification and sensitivity to protein diagnostics.

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.

Chipmetrics

SupplierManufacturing & Industrial TechFI

Chipmetrics is a Finland-based semiconductor metrology company that builds proprietary 3D high-aspect-ratio test chips and wafers (notably the PillarHall family) to deliver fast, precise thin-film and conformality measurements for ALD and other deposition processes, serving chipmakers, equipment vendors and materials developers worldwide.

SSE Business Lab

EnablerResearch InstitutionSE

The startup incubator of the Stockholm School of Economics, supporting student and alumni entrepreneurs in developing their business ideas.

Celsicom

ProductComputing & ConnectivitySE

Celsicom provides wireless monitoring solutions, offering cloud-based systems for measuring and analyzing environmental data in construction and other industries.

ECAB (European Components AB)

SupplierDistribution & SupplySE

Distributes electronic components and systems for various industrial sectors.

Percy Roc

ProductManufacturing & Industrial TechSE

Percy Roc develops AI-driven microwave heating technology for industrial processes, enhancing energy efficiency and control.

IVA

EnablerResearch InstitutionIndustry OrganizationSE

The Royal Swedish Academy of Engineering Sciences (IVA) is an independent academy that brings together engineers, economists, researchers, entrepreneurs and leaders in business and the public sector to promote engineering and economic sciences for the benefit of society.

TD Synnex

SupplierDistribution & SupplyINTL

Global distributor of IT products and services, supporting various technology vendors and resellers.

iLabs

ProductManufacturing & Industrial TechSE

iLabs is a leading European manufacturer of embedded electronic devices for small businesses and hobbyists, designing microcontroller development boards with wireless and cellular connectivity.

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 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

LISTEN →
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 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 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 28

Dominic Davies – Lightbringer & the Patent Reboot: From Legal Grind to Founder Speed [ENG]

Episode 28: From Legal Grind to Founder Speed Dominic Davies , co-founder of Lightbringer , joins the pod to talk patents, automation and founder-first IP. With a background in both software and patent law, he’s now building a system that aims to replace the traditional patent firm entirely — starting with the needs of deeptech startups. From knowledge graphs to GPT-3, Lightbringer was born out of

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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 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 16

Anders Hässel och Nenda: Streamingrevolutionen för företag [SWE]

#16. Streamingrevolutionen för företag Anders Hässel , vd och grundare av Nenda , gästar podden och berättar hur bolaget utvecklar en modern streamingplattform för företag – med hårdvara, molntjänster och affärsmodeller anpassade för B2B-marknaden. Målet: att ersätta föråldrade TV‑lösningar med smart, skalbar teknik. Nenda grundades med en tydlig idé: att förändra hur företag inom hotell, vård och

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EP 13

Giovanni Fili från Exeger: att bygga ett imperium cell för cell [SWE]

#25. Att bygga ett imperium cell för cell Giovanni Fili , grundare och vd för Exeger , gästar podden och berättar hur bolaget tagit fram en helt ny typ av solcell – och byggt en fabrik runt visionen. Det här är berättelsen om hur svensk deeptech trotsar oddsen: från egenutvecklade nanopartiklar och patenterade elektroder till en fullt automatiserad fabrik mitt i Stockholm. Powerfoyle, Exegers ljus

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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

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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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Insights

ALL INSIGHTS →

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

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.

READ →
INSIGHT

Less is More: How Flic Pushed the Button on Scalable Hardware

How Flic turned a simple Bluetooth button into a profitable, VC-free global hardware business.

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

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

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

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

When infrastructure thinks like nature

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

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

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

From Cockpit to Cap Table: Inside Nordic Defense Tech

A fighter pilot turned VC explains why defense tech founders validate with the wrong people.

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

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 →

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.