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.

158
Investors mapped
1043
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 158 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.

Turbine Capital

Venture CapitalSE

Venture capital firm investing in Nordic tech companies solving global issues through innovation.

Backed:N/A

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

Eurostars

Public FundingINTL

Eurostars is a public EU/Eureka-network funding instrument (co-funded via Horizon Europe and national bodies like Vinnova, Innovation Fund Denmark and the Research Council of Norway) that provides non-dilutive grants to SME-led, cross-border collaborative R&D projects, funding roughly 20-30 Swedish companies alone every year plus counterparts across Norway, Denmark, Finland and Iceland.

Backed:Epishine, BabySensor AS, Sensohive ApS, Evosep Aps, I-CONIC Vision AB

Provider Investment

Investment CompanySE

Family-owned Swedish investment company focusing on long-term value in industrial and technology sectors.

Backed:Yubico, Nenda, FlashEye

Noon Ventures

Venture CapitalDK

Early-stage VC backing sustainable innovations and companies addressing major societal challenges.

Backed:Lotus Microsystems, Spectroinlets

Active Invest

Investment CompanySE

Active Invest Sweden AB is a family-owned Swedish investment group founded by Johan Enocson that combines a wood-industry division, Surewood Industries, with an investment arm holding around 30 companies across various sectors.

Backed:Quantal RF, Sequana Medical, WTS Positioning Solution

Kongsberg Innovation

Investment CompanyNO

Kongsberg Innovation is a Norwegian, Kongsberg-based business incubator and early-stage investor backed by Kongsberg Gruppen, Kongsberg Automotive, Equinor, TechnipFMC, Siemens Energy and other industrial owners. It runs the Kongsberg Pre-Seed Fund, typically investing 1 to 2 million NOK in first equity rounds in Norwegian B2B deep tech startups across maritime, ocean tech, energy transition, advanced manufacturing and industrial digitalisation.

Backed:Applied Autonomy, Kitemill, Kongsberg Ferrotech, N2 Applied, Distributed Ship Surveillance, ProfMOF, Vasshella Flexibles, REMB Technologies, Vinterfjord, Kyoto Group, Scale Protection, Electric Mobility Norway, Abalonyx, Cartesian, Tequs, Brudeli Green Mobility

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 Cars Tech Fund

Corporate VentureSE

Corporate venture capital fund investing in technologies that shape the future of mobility.

Backed:Neura Robotics, Leadrive, Dcbel

Spark Capital

Venture CapitalINTL

Venture capital firm investing in early-stage technology companies across industries including software, marketplaces, and fintech.

LU Ventures

University Venture EntitySE

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.

Backed:Alixlabs, NordAmps, Xenergic, Cognibotics, BeammWave, MxWaves, PluvioFlow, Microdentify, Gaetir, Cyclicor, Elonroad, Spec-Imaging, Medbeat, CarpoNovum, Stairway Medical, MedVasc, Uman Sense, Suturion, Bionamic, Aligned Bio, Dx4Life, Reccan Diagnostics

Nea Partners

Investment CompanySE

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

Backed:Qvantum, Hammerglass, VisionSense

The ecosystem

ALL 1043 COMPANIES →

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

Dalarna University (Högskolan Dalarna)

EnablerEnergy & GridManufacturing & Industrial TechSE

A Swedish university offering engineering and technology programmes (Solar Energy Engineering, Industrial Economics, Materials Science) with applied research conducted in close collaboration with regional industry.

Megger Sweden AB

SupplierDistribution & SupplySEAcquired by ESCO Technologies Inc.

Supplies electrical testing and measurement equipment for various industries, ensuring safety and reliability in power systems.

Founders Loft

EnablerIncubator & AcceleratorSE

Startup incubator providing support and resources for early-stage companies.

Mirola Rescue

ProductHealth & MedtechSE

MIROLA develops cutting-edge solutions for improved breathing assistance.

OrbitMI

ProductRobotics & AutomationINTL

Offers AI-powered software solutions for maritime vessel performance optimization and analytics.

Arxlight AB

ProductDefence & SecuritySE

Arxlight AB provides fortified IT, Telecom, and energy systems designed to meet modern cyber and EMP challenges, serving high-security sectors.

Cake

ProductMobility & TransportSE

Cake designs and manufactures electric motorcycles, focusing on lightweight, high-performance bikes for urban and off-road use.

Hy5Pro

ProductHealth & MedtechNO

Norwegian medtech company developing cost effective hydraulic hand prosthetics.

Sandbacka Science Park

EnablerScience ParkSE

Sandbacka Science Park fosters innovation and supports companies in the technology and ICT sectors within the region.

Schneider Electric Sverige AB

ProductEnergy & GridINTL

Schneider Electric provides energy management and automation solutions, offering integrated technologies for various sectors.

Percy Roc

ProductManufacturing & Industrial TechSE

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

DCAI (Danish Centre for AI Innovation)

EnablerComputing & ConnectivityDK

Danish Centre for AI Innovation (DCAI) is a public-private company, backed by the Novo Nordisk Foundation and Denmark's Export and Investment Fund (EIFO), that owns and operates Gefion, Denmark's national AI supercomputer.

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 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

LISTEN →
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

LISTEN →
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

LISTEN →
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

LISTEN →
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 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

LISTEN →
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

LISTEN →
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

LISTEN →
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

LISTEN →
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

LISTEN →
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

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

LISTEN →

Insights

ALL INSIGHTS →

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

INSIGHT

Beta-perioden är över - vad nu?

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

READ →
INSIGHT

Vi är tillbaka – snart!

Efter en framgångsrik beta-period under våren, med massor av positiv feedback, så kommer Hårdvarupodden att återlanseras under hösten. Nya avsnitt inom kort! Vill du hjälpa till?

READ →
INSIGHT

The Unscalable Edge: why hardtech wins by starting slow

Argues that hardtech's early, unscalable phase builds the real-world knowledge that later makes scale possible.

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

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.

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 →
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

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

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

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

Europe Doesn't Have an Innovation Problem

KTH Innovation's Lisa Eriksson argues fragmentation, not lack of innovation, holds back Europe's deeptech scaleups.

READ →

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.