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.

174
Investors mapped
1076
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 174 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.

Longswan Ventures

Venture CapitalSE

Longswan Ventures is a Stockholm-based early-stage investor that invests in Nordic pre-seed/seed companies in the hardtech, defence and security domain.

Backed:Freya Industries (Freya)

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

Corrected Ventures

Venture CapitalSE

Course Corrected VC (cc.vc) is a Stockholm-based, women-founded early-stage venture capital firm founded in 2021 that invests in climate-positive technology companies with a commercial approach to fighting climate change, and recently announced a first close of its Fund II exceeding EUR 65 million.

Backed:Renasens, Hyperion Robotic, Longbow Motors, Cosmic Aerospace, Artyc, Echandia, PaperShell, 1s1 Energy, Holyvolt, Modvion

Saab Ventures

Corporate VentureSE

Saab's corporate venture arm investing in innovative defense and dual-use technologies.

Backed:ReVibe Energy, Cold Cut Systems, C-Leanship

STOAF

Venture CapitalSE

Stockholm Business Angels fund investing in early-stage high-tech growth companies.

Backed:Nordamps, Cascade Drives, Polar Light

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

Prima Materia

Investment CompanySE

Prima Materia is a Stockholm based investment company founded in 2020 by Daniel Ek and Shakil Khan. It builds and backs a small number of long term technology companies in Europe, with investments including Helsing and Neko Health.

Backed:Helsing, Neko Health

Business Finland

Public FundingFI

Funding for Finnish startups and scaleups, from Tempo grants to large R&D loans. Rolling applications.

Backed:N/A

Dacke Industri

Investment CompanySE

Dacke Industri is a Swedish industrial holding group, owned by Nordstjernan since January 2016, that acquires and grows Nordic and international engineering companies with proprietary hardware products across four divisions: Air & Mechatronics, Power & Motion, Measurement & Control, and Precision & Protection.

JM Ventures

Corporate VentureSE

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.

Backed:Made of Air, Cemvision

E14 Invest

Investment CompanySE

E14 Invest is a Swedish co-investment company based in Åre, founded in 2017, that pools capital from roughly 30 private shareholders to back scalable growth companies primarily along the European route E14 corridor (Sundsvall–Trondheim) and the wider Norrland region, though it also invests opportunistically outside the area. It has made around 20-27 investments to date across sectors including healthtech, materials/energy, and software, typically at seed to Series A stage alongside co-investors like Almi Invest, Chalmers Ventures and Industrifonden.

Backed:Granode Materials, 2D fab, Standard Bio, Aplex Bio, Tapster, Flox Robotics, Holyvolt

Fiftyfive Capital

Venture CapitalDK

Danish VC investing in growth-stage companies in lifestyle, software, and hardware across Europe and the U.S. Formerly Nordic Eye.

Backed:Blue Ocean Robotics, MATE.Bike, Bellabeat

The ecosystem

ALL 1076 COMPANIES →

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

C-Rad Positioning AB

ProductHealth & MedtechSE

C-Rad provides advanced radiation therapy positioning systems, enhancing precision and safety in cancer treatment.

GreenIron

ProductEnergy & GridSE

Develops CO₂-free production processes for recycling metals from industrial waste.

Carbonaide

ProductManufacturing & Industrial TechFI

Carbonaide is a Finnish carbon utilisation company that mineralises CO2 into precast concrete, turning building materials into a permanent carbon sink.

Mips

ProductConsumer HardwareSE

Specializes in helmet safety systems that reduce rotational motion, enhancing protection in various sports and activities.

Qtpie

ProductRobotics & AutomationSE

Qtpie develops automatic driving evaluations using AI and eye-tracking technology for traffic safety applications.

3Sonic

ProductHealth & MedtechDK

3Sonic is a novel perioperative 3D ultrasound imaging device used to improve accuracy during cancer surgery.

ZenRobotics

ProductManufacturing & Industrial TechFI

AI-based robotic waste sorting systems that pick and separate recyclable materials from construction, commercial and industrial waste streams.

Elektronikproduktion i Kinna AB

SupplierServices & EngineeringSE

Provides PCB manufacturing, assembly, and electronic production services.

Rosenqvist Rail

ProductManufacturing & Industrial TechSE

Rosenqvist Rail designs and manufactures advanced machinery for efficient and safe railway maintenance worldwide, including fastening machines, sleeper changers and rail equipment.

Alfa Laval

ProductEnergy & GridSE

Alfa Laval provides products and solutions in heat transfer, separation, and fluid handling, serving industries like energy, environment, and food.

Cinside

ProductDefence & SecuritySE

Develops thermal imaging systems for surveillance and security applications.

Novanik AB

ProductDefence & SecuritySE

Develops advanced security solutions and technologies for defense applications, focusing on resilience and innovation.

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 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 36

Monica Bellgran – Produktionsänglar & Sveriges bortglömda konkurrensfördel [SWE]

36. Produktionsänglar & Sveriges bortglömda konkurrensfördel Monica Bellgran , vicerektor för innovation vid Mälardalen Universitet och medgrundare av Produktionsänglar , gästar podden för att prata om en av hardtech-världens mest underskattade utmaningar: att gå från prototyp till produktion. Från industrialisering och leverantörskedjor till automation, AI och geopolitik förklarar hon varför så m

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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 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 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 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 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 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 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 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 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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Insights

ALL INSIGHTS →

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

INSIGHT

Snart nytt år – vem ska jag prata med?

Hårdvarupodden ångar vidare in i 2025 och stora nyheter utlovas i Q1. Samtidigt söker vi fler som vill intervjuas i podden. Vem ska jag prata med i 2025?

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INSIGHT

Under the Surface: How the Nordic Blue Hardtech Wave Is Rising

Nordic hardtech founders are turning to the ocean, building autonomous dredging robots, tidal kites and subsea sensors to drive a new blue economy.

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.

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INSIGHT

Built to Endure: How Nordic Hardtech Turns Fear into Function

Explores how fear, war, and geopolitical uncertainty are reshaping Nordic hardtech into a driver of resilience and dual-use innovation.

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INSIGHT

From stubbornness to breakthroughs: the case for difficult founders

Industrifonden's Mala Valroy explains why she backs stubborn, bold deep tech founders over comfortable, consensus-seeking ones.

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INSIGHT

The Hard Way: The Nordic Way

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

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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.

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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

When Hardware Meets Awesome

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

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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.

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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

Nordic Hardtech x Lightbringer: IP just got interesting!

Tired of slow, expensive patents? Lightbringer flips the script. Discover how AI-driven IP can help you protect ideas, raise capital, and build real leverage.

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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.