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.

177
Investors mapped
1236
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

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.

GOKAP Invest

Investment CompanySE

GOKAP Invest is a Gothenburg-based investment company, co-founded in 2018 by GU Ventures' CEO Klementina Österberg, that invests in innovative unlisted growth companies primarily in Västra Götaland/Western Sweden, having built a portfolio of around 19-22 holdings spanning life science, digital services and a small number of physical hardtech companies.

Backed:Luxbright AB, Nanolyze AB

Navigo

Investment CompanySE

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.

Backed:CalorMet (formerly Sarlin Furnaces), Västerås Svets & Maskinbearbetning, Alelion, Flexenclosure, eSite Power Systems, Mantex, Mechanum

Equinor Ventures

Corporate VentureNO

Equinor Ventures is the Stavanger, Norway-based corporate venture capital arm of Equinor, investing since 1991 in early-phase and growth companies developing renewable energy, low-carbon and energy-transition technologies, with a portfolio concentrated in Europe and North America.

Backed:RayGen, Hysun, Oxford PV, EcoLectro, Beyonder, Corvus Energy, Heimdall Power, Protostar Group (44.01), Infravision, Revterra, Upwing Energy, Sapphire Technologies, Solid Power, H2Site, Electric Hydrogen, Commonwealth Fusion Systems, Green Li-ion, HySiLabs, Captura

Provider Investment

Investment CompanySE

Provider Investment is a 100% family owned evergreen investment company founded by Johan Hernmarck, investing opportunistically in Swedish entrepreneurs with a preference for ideas scaled through software and digital technology. The portfolio spans B2B software plus a handful of industrial hardtech positions such as Flasheye and Mobilaris.

Backed:Flasheye, Mobilaris, Yubico

EQT Ventures

Venture CapitalSE

EQT Ventures is the early-stage venture capital arm of Swedish investment manager EQT AB, domiciled in Luxembourg with investment advisors in Stockholm, Paris, London, New York, Berlin and Amsterdam, backing over 140 European and US founding teams from Seed to Growth with investment sizes ranging roughly €1-75M. It invests across sectors including deep tech, climate, fintech, consumer and AI, and in 2025 merged with EQT Growth into one unified early-stage tech platform.

Backed:The Exploration Company, Nothing, Heart Aerospace, Einride, Candela, Verkor, Marvel Fusion, Flow Engineering, ViridiCO2, Watty, Oden Technologies, 3D Hubs (Hubs)

Saab Ventures

Corporate VentureSE

Saab Ventures is Saab's corporate venture arm, set up in 2001 to spin out technology from Saab's engineering base into independent companies and to spin in outside startups that complement Saab's core business. It runs from Sweden with a portfolio that currently spans ten active holdings, including Applied Actuators, ReVibe Energy, MicroDri and Wheelscanning, alongside spin-outs such as Minesto and Cold Cut Systems, and its parent Saab has also made direct strategic bets like the USD 10 million lead investment in rocket company Pythom Space.

Backed:Applied Actuators, C-Leanship, Cind, ReVibe Energy, Cold Cut Systems, MicroDri, RoboWaste, Real Time Metrology, Wheelscanning, Minesto, A2 Acoustics, Heart Aerospace, Pythom Space

Kinnevik

Investment CompanySE

Kinnevik is a Swedish listed growth investment company, founded in Stockholm in 1936 by the Stenbeck, Klingspor and von Horn families. It backs technology-enabled companies from early to growth stage across healthcare, software and climate tech, holding a portfolio of 20+ larger companies including recent bets on green steel, heat pumps and battery technology.

Backed:Aira, Solugen, Stegra, Vay, Charm Industrial, Breathe Battery Technologies

Lagercrantz Group

Investment CompanySE

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

Volvo Cars Tech Fund

Corporate VentureSE

Volvo Cars Tech Fund is the corporate venture arm of Volvo Cars, based in Gothenburg and founded in 2018. It makes minority investments, typically EUR 1 million to EUR 5 million at seed, Series A and Series B, in mobility technology such as batteries, sensors, robotics, power electronics and sustainable materials. Its Nordic holdings include Altris, Varjo and Eliq, and it exited Forciot in 2025. Its latest recorded deals are Riiico (June 2025) and Breathe Battery Technologies (May 2025).

Backed:Altris, Forciot, Varjo, NEURA Robotics, StoreDot, Leadrive, Niron Magnetics, BComp, Luminar Technologies, FreeWire Technologies, UVeye, Viospatia, Spectralics, Breathe Battery Technologies

Almi

Public FundingSE

Almi is Sweden's state-owned organization that provides loans, business development advice, and equity financing to Swedish SMEs, with its venture-capital arm Almi Invest (including the national Almi Invest GreenTech fund) making direct investments in early-stage tech, life-science, industrial and sustainability startups.

Backed:Caplyzer AB, Radar Reticence, Digiclean Solutions AB

RunwayFBU

Venture CapitalNO

Early-stage VC fund, tech hub and industry software alliance based in Fornebu (Lysaker), Norway, investing $100k to $3m at pre-seed and seed into data-centric industrial technology that makes heavy industry more efficient, resilient and sustainable.

Backed:Sonair (patented 3D ultrasonic sensor hardware for robot autonomy)

Lifeline Ventures

Venture CapitalFI

Lifeline Ventures is a Helsinki-based, sector-agnostic early-stage venture capital firm founded in 2009. It invests from pre-seed through growth stages across deeptech, climate, health and consumer sectors, and closed a 400 million euro sixth fund in 2025 to keep backing founders from first check through scale.

Backed:Akkurate, Altum Technologies, Arctic Instruments, Calectra, Carbo Culture, CurifyLabs, Dispelix, Ductor, Elea & Lili, Enevo, Griffin Refineries, Helix Nano, HyCom Core, Hyperion Robotics, Iceye, Illutherm, Karsa, Koherent, Proteins.1, Solar Foods, P2X Solutions, Sulapac, Oura, Reduciner, TheStorage, Minima Processor, TILT Biotherapeutics

The ecosystem

ALL 1236 COMPANIES →

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

Nobel Biocare

ProductHealth & MedtechSEINTL

Nobel Biocare is a world leader in the field of innovative implant-based dental restorations.

CommuteSaver

ProductComputing & ConnectivitySE

Provides an AI-powered app to track and reduce corporate CO2 emissions from commuting and business travel.

SeaTwirl

ProductEnergy & GridSE

SeaTwirl designs and develops vertical-axis wind turbines for offshore energy production, aiming to provide sustainable wind energy solutions.

Stockholm Makerspace

EnablerServices & EngineeringScience ParkSE

Sweden's largest independent, member-driven makerspace in central Stockholm, offering shared workshop space and machinery (3D printers, laser cutters, CNC, welding) for members to build and prototype projects.

Lifecare

ProductHealth & MedtechNO

Lifecare develops miniaturized and implantable nanobiosensors for correct and continuous monitoring of glucose and other biomarkers.

Sigicom AB

ProductComputing & ConnectivitySE

Sigicom provides remote monitoring solutions for construction sites, focusing on vibration, noise, and geotechnical measurements.

Åkerströms Björbo AB

ProductManufacturing & Industrial TechSE

Åkerströms delivers robust radio remote control systems for cranes, machinery and more.

Demant (Oticon)

ProductHealth & MedtechDK

A world-leading hearing healthcare group building hearing aids, audiometric equipment and hearing implants, headquartered in Smørum, Denmark.

Wretom Consilium AB

SupplierDistribution & SupplySE

Supplies production equipment and materials for the electronics industry, including automation solutions.

UXV Technologies

ProductDefence & SecurityRobotics & AutomationDK

Leader in payloads, electronics, and ground control stations (GCS) for robots, drones, and remote controlled vehicles.

Polar Night Energy

ProductEnergy Storage & BatteriesEnergy & GridFI

Polar Night Energy is a pioneer in high-temperature thermal energy storage, known for its cutting-edge Sand Batteries that store electricity as heat in sand or crushed soapstone for district heating and industrial use.

Bejoken AB

SupplierDistribution & SupplySE

Bejoken AB supplies electronic components, including batteries, circuits, cables, and mounting accessories, serving various industries with a wide range of products.

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 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 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 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 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 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 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

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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

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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 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 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 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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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

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Insights

ALL INSIGHTS →

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

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.

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 →
INSIGHT

When policy becomes a product constraint

Industrial policy now shapes hardtech product decisions early, forcing founders to decide how much strategic control to trade for public support.

READ →
INSIGHT

The Hard Way: The Nordic Way

Nordic hardtech founders keep choosing complex, regulated, physical-world industries over easy, fast-scaling opportunities.

READ →
INSIGHT

Vi är live!

På rekordtid (?) har vi gått från idé till handling och skapat Hårdvarupodden.

READ →
INSIGHT

When Hardware Meets Awesome

Johan Ronnestam argues hardtech brands need archetypes and cultural resonance, not just working tech, to survive AI-driven disruption.

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

Beta-perioden är över - vad nu?

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

READ →
INSIGHT

The New Industrial Stack

Nine Nordic startups are building the software layer that lets factories be programmed like computers.

READ →
INSIGHT

Livepodd i Göteborg på Evertiq-mässan

Torsdag den 19 september besöker podden Evertiq-mässan i Göteborg för att intervjua två intressanta bolag live på scenen: Airolit och Frontside. Jag (Jonas) står även på mässgolvet för samtal.

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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

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 →

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.