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 176 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.
Scale Capital
Investing in the critical technologies that Europe and the world will depend on. Seed and Series A. Deeply rooted in the Nordics.
Gullspång Invest
Gullspång Invest is a Stockholm-based family office founded by Swedish angel investor Christer Brandberg (an early Axis Communications investor) together with his three sons, Gustaf, Magnus, and Erik Brandberg, that makes long-term, evergreen investments in entrepreneurial teams tackling systemic challenges in food, energy, and water. It runs a food-focused sister vehicle, Gullspång Re:food, and its portfolio spans hardware-driven climate and energy plays (geothermal, heat pumps, water purification, recycling) alongside food, edtech, and other software ventures.
EIFO
EIFO (Danmarks Eksport- og Investeringsfond) is Denmark's national promotional bank and official export credit agency, formed by merging the Danish Growth Fund (Vækstfonden), the Export Credit Agency (EKF) and the Danish Green Investment Fund. It is Denmark's largest venture investor, deploying direct equity, loans, guarantees and fund commitments across sectors from deep tech and defence to green transition and life sciences, both by co-investing directly in companies and as an LP in venture funds.
Energimyndigheten
The Swedish Energy Agency (Energimyndigheten) is Sweden's public authority for energy research, innovation and preparedness, providing grants and R&D funding to companies, academia and public bodies working on the transition to a fossil-free energy system.
Skagerak Capital
Norwegian venture and growth investor focused on sustainable tech and cleantech innovation.
JM Ventures
JM is the largest residential developer in the Nordics, active in Sweden, Norway and Finland. Its corporate venture arm is a young, low profile initiative launched in late 2023, led by Johan Wiksell and Torbjörn Glad, making its first investments in 2024 with a focus on contech, proptech and industrialized, sustainable construction along JM's value chain.
SINTEF Venture
Corporate venture capital arm of SINTEF, one of Europe's largest independent research organizations. Commercializes IP and spins out deep tech ventures from SINTEF and NTNU research, investing through successive seed and early-stage funds (SINTEF Venture III through VI).
Spiltan Invest
Investment firm with a long-term perspective focused on Swedish entrepreneurial companies.
AGV Invest
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.
Icebreaker VC
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.
Turbine Capital
Turbine Capital is a Stockholm-based early-stage venture capital fund initiated by the Sting incubator, investing in Nordic deeptech companies from pre-seed to Series A. The fund is anchored by Saminvest and backed by industrial partners including Saab, Volvo Cars and Scania, plus the European Investment Fund.
Wicked Angels
Wicked Angel is a Stockholm-based angel network founded in 2020, investing member capital and operating experience into early-stage Nordic startups, with recent activity concentrated in life science and health tech deals sourced through Stockholm and Gothenburg pitch events.
The ecosystem
ALL 1204 COMPANIES →Who builds, supplies and enables hardtech across the Nordics, from garage startups to industrial giants. Browse by role, phase and vertical.
Innobrain
Develops AI-driven Brain-Computer Interface platforms for human cognitive monitoring beyond medical applications.
Rutronik Nordic AB
Rutronik Nordic AB distributes electronic components, including semiconductors and passive components, to various industries.
Luper
Develops industrial air cleaning technologies focusing on air pollution and odor control.
Hitachi Energy (Hitachi)
Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all.
Net Insight
Provides media transport solutions, enabling efficient and reliable video streaming and broadcasting services.
Prevas AB
Prevas provides engineering services and IT solutions, specializing in product development and industrial IT for various sectors.
Samster
Samster develops smart energy solutions, including solar hybrid systems, aiming to replace fossil fuels.
Qoitech
Qoitech provides tools for power analysis, battery profiling, and simulation aimed at battery-driven and energy-harvesting powered products within the Internet of Things (IoT) area.
Zinus
Zinus supplies shore power products and autonomous solutions for ports and vessels, focused on maritime electrification within the energy sector.
Furhat Robotics
Develops social robots with human-like expressions for research and commercial applications.
KTH ICES
Competence network for embedded systems, connecting academia and industry.
Airsonett
Swedish medical device company developing non-pharmaceutical treatment for allergic asthma and eczema, based on patented Temperature-controlled Laminar Airflow (TLA) technology.
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 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 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 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 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 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 5 Rickard Bröms och Vässla: Full gas till fritt fall [SWE]
#5. Full gas till fritt fall Rickard Bröms , grundare av Vässla , gästar podden och berättar hur bolaget gick från Blockets enda elmoppe till internationell elfordonssatsning – och till slut in i rekonstruktion. Vi pratar om produktstrategi, supply chain, kapitaljakt och vad som händer när verkligheten kör över visionen. Men också om hur en idé kan leva vidare, även efter en konkurs. I det här avs
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EP 37 Lisa Eriksson (KTH Innovation) – Building Europe’s Deeptech Pipeline
37. Building Europe’s Deeptech Pipeline Lisa Eriksson , Head of KTH Innovation and CEO of KTH Ventures , joins the Nordic Hardtech Podcast to discuss what it takes to turn world-class research into venture-backed companies. KTH Innovation supports hundreds of founders, researchers and students every year, helping transform ideas into startups across fields such as AI, energy, semiconductors, life
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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 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 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 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 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
LISTEN →Insights
ALL INSIGHTS →What we have learned about building, scaling and funding hard things in the Nordics.
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 The Deeptech Funnel: Why European Legacy Industry Must Stop Being a Spectator
Argues European legacy industry must engage deeptech startups earlier, during the demonstration phase, instead of waiting for finished technology.
READ →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 →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 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.
READ →
INSIGHT Your product isn’t ready: and Michael Pica knows why
Hardware Velocity's Michael Pica explains why hardtech founders must validate demand before scaling production, not just believe in their idea.
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INSIGHT Geography Is Back On The Map
Eight Nordic hardtech firms show that staying close to factories and industry can be a competitive edge, not a limit.
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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.
READ →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 →Who Makes the Nordic Hardtech Canon?
A playful editorial ranks the inventions and companies that define Nordic hardtech's lasting industrial legacy.
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 The Hard Way: The Nordic Way
Nordic hardtech founders keep choosing complex, regulated, physical-world industries over easy, fast-scaling opportunities.
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.
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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.