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.

154
Investors mapped
996
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 154 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.

Arctic Ventures

Investment CompanySE

Arctic Ventures is the angel-investment vehicle managed by Arctic Business Incubator (ABI), investing exclusively in startups admitted to ABI's incubator across northern Sweden, from Skellefteå to Kiruna. It is backed by a network of dozens of business angels together with the state-owned fund Saminvest, and provides seed-stage convertible-loan capital to companies spanning space, industry, gaming and IT.

Backed:Nordic Quick Systems

Prima Materia

Investment CompanySE

Founded by Daniel Ek, invests in moonshot projects and long-term deep tech solutions to advance humanity.

Backed:Neko Health

SuperHero Capital

Venture CapitalFI

Helsinki-based early-stage VC investing in bold founders from Finland and the Baltics, especially in SaaS and deep tech.

Backed:Flow, The Storage, Doublepoint

Aligned VC

Venture CapitalSE

Aligned VC is an early-stage and growth-stage venture capital firm based in Stockholm, founded in 2019 by Eric Carlson Rydman and Christian af Jochnick, investing across a broad range of industries from consumer and fintech to health and mobility.

Backed:Brineworks, Dance

Superangel

Venture CapitalINTL

Tallinn-based early-stage investor and company builder backing bold tech founders in the Baltics and Nordics.

Backed:Starship, Coalescent, Lightcode

Investinor

Venture CapitalNO

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

Backed:Onio, Numascale, poLight

Nordic Secondary Fund

Venture CapitalDK

Specialized VC fund focusing on secondary transactions in Nordic growth-stage startups.

Backed:OnRobot, Wingcopter

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

Provider Investment

Investment CompanySE

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

Backed:Yubico, Nenda, FlashEye

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

Lagercrantz Group

Investment CompanySE

Technology group investing in and developing B2B companies in electronics and communication.

Linbo Invest

Investment CompanySE

Family-owned investment company focused on long-term investments in sustainable and innovative companies.

Backed:Epishine

The ecosystem

ALL 996 COMPANIES →

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

Altris

ProductSemiconductors & PhotonicsAdvanced MaterialsSE

Altris develops sustainable sodium-ion batteries, offering an alternative to lithium-ion technology for energy storage solutions.

Stilfold

ProductManufacturing & Industrial TechSE

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

Beyond Gravity Sweden AB

ProductSpaceAerospace & AviationSE

Beyond Gravity is a leading provider of payload adapter systems and satellite products, supporting various launch vehicles including European Ariane and Vega rockets.

Science Park Borås

EnablerScience ParkSE

Science Park Borås supports innovation in textiles, consumption, and societal development, fostering sustainable solutions.

Terma A/S

ProductSpaceAerospace & AviationDK

Terma is a global company owned by a commercial foundation and with roots in Denmark, developing mission-critical solutions for defense and aerospace, including aerostructures, radar, electronic warfare, and space systems.

AVTECH Sweden B

ProductMobility & TransportSE

AVTECH Sweden AB develops and sells products and services for digital air traffic management, enabling efficient flight operations through route planning, performance analysis, and environmental impact assessments.

Sapient Perception

ProductAutonomous Systems & DronesDefence & SecurityDK

Sapient Perception ApS is a Copenhagen-based developer of physical AI sensor systems for UAVs, building '10K' software-defined cameras and an edge AI framework that expand aerial visibility for defense, security, and emergency response operations.

Repsol

ProductEnergy & GridINTL

Repsol is a global energy company engaged in oil and gas exploration, production, refining, and marketing, with increasing investments in renewable energy and sustainability initiatives.

Sencept

ProductRobotics & AutomationSE

Develops intelligent radar sensors for autonomous and active safety systems, enabling high-resolution imaging.

Skugga

ProductConsumer HardwareSE

Skugga develops smart eyewear with dynamic tinting technology, enhancing visual comfort and protection.

PDSVISION

SupplierComputing & ConnectivitySE

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

LKAB

ProductMining & MetalsAdvanced MaterialsSE

LKAB is a Swedish state-owned mining company that mines and processes iron ore in northern Sweden and is developing fossil-free sponge iron production as part of the HYBRIT initiative.

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 11

Staffan Stymne och T.Loop: Spillvirke för AI-eran

#11. Spillvirke för för AI-eran Staffan Stymne , vd och medgrundare av T.Loop gästar podden och berättar hur de bygger datacenter som både driver AI och balanserar elnätet – med återbruk, överskottsenergi och smart lokalisering som kärna. Med 30 års erfarenhet från energisektorn tog Staffan steget in i tech för att visa att datakraft inte behöver kosta klimatet. I dag bygger T.Loop för den nya era

LISTEN →
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 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 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 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

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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 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 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 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 10

Kurt Högnelid och Waybler: Laddlogik för nästa elbilsvåg [SWE]

#10. Laddlogik för nästa elbilsvåg Kurt Högnelid , VD och medgrundare av Waybler , gästar podden och berättar hur bolaget bygger ett laddsystem för lägenheter och kontor – med smart styrning, lokal produktion och ett eget moln i ryggen. Kurt har grundat sju bolag inom medtech, IT och energi, och varit entreprenör i över 20 år. Med Waybler bygger han nu för tillväxt på en marknad som både boomat oc

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EP 26

Alexander Engl – Build, Share, Repeat: How Makerspace and ihopa Enable Hardware for the Masses [ENG]

Episode #26 Build, Share, Repeat: How Makerspace and ihopa Enable Hardware for the Masses Alexander Engl joins the pod to talk about Stockholm Makerspace – a member-run 24/7 creative hub that empowers hardware builders, tinkerers and early-stage founders to bring physical ideas to life, without public funding or gatekeepers. We explore how the space grew to 1000+ members, how it's staying independ

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EP 3

Ulrika Tornerefelt och Stella Futura: Från grön vision till laddad expansion [SWE]

#3. Från grön vision till laddad expansion Ulrika Tornerefelt , grundare av Stella Futura , gästar podden och berättar om resan från hållbarhetsrådgivning till att bygga ett snabbväxande energibolag. Från Västafrika till svenska stödtjänstmarknaden, och från idé till skalbar affärsmodell inom “battery as a service”. Vi pratar om lönsam expansion, affärsmodellering, finansieringsstrategier och hur

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Insights

ALL INSIGHTS →

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

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 →
INSIGHT

Norway Isn’t Loud. That Might Be Its Advantage.

A guest essay on why Norway's understated hardtech ecosystem in defence, robotics and energy is becoming strategically important.

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

Matter Over Code: The Nordic Path to Resilient Technology

Nordic hardtech founders are pioneering a material renaissance, shifting innovation from silicon and code to advanced physical materials.

READ →
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

Print, Charge, Scale: Then Go Again

How Exeger's Giovanni Fili built a flexible solar cell platform and factory from scratch against the odds.

READ →
INSIGHT

TALES FROM THE TECH HUB: HARDWARE EDITION på The Yard i Göteborg (2 april)

Välkommen till Göteborgs techarena "The Yard" på ett exklusivt event om hur man bygger hårdvarubolag.

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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

Gillar du podden? Betygsätt den!

Hårdvarupodden har funnits sedan juni 2024. Vi kommer fortsätta expandera under 2025 och fler nyheter kommer inom kort. Podden finns för lyssnarna – inget annat. Så, hur kan vi bli ännu bättre?

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INSIGHT

Now Launching: Nordic Hardtech

READ →
INSIGHT

Built in Sweden? Only if you survive the manufacturing gap first

Monica Bellgran explains why Swedish hardware startups bring in industrialization too late and what that risks.

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.