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.

175
Investors mapped
1192
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 175 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.

Energimyndigheten

Public FundingSE

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.

Backed:Northvolt, Azelio, Minesto, Climeon

Heartcore

Venture CapitalDK

Heartcore Capital (formerly Sunstone Capital, founded 2007) is an early-stage venture capital firm headquartered in Copenhagen with additional offices in Stockholm, Berlin and Paris, investing from pre-seed to Series A across Europe. While historically known as a consumer-tech investor, it has recently expanded into deep tech, defence, quantum computing, space and synthetic biology alongside its core AI, fintech, travel and web3 bets.

Backed:EGIDE, Isentroniq, Qualia, Skynopy, Ionlace, Numi, Gourmey, Orbex

Alliance VC

Venture CapitalNOSEDKFI

Alliance VC (Alliance Venture) is a Nordic early-stage venture capital firm founded in 2001, with partners on the ground in Oslo, Stockholm, Copenhagen and Helsinki, backing Nordic founders with global ambitions. While its current thesis centers on applied AI and software, its portfolio includes verified hardtech bets such as 1X Technologies (humanoid robotics) and Aquabyte (computer-vision hardware for fish farming), and it is actively deploying its newly closed Alliance Nordic III fund.

Backed:1X Technologies (Halodi Robotics), Aquabyte

Scale Capital

Venture CapitalDK

Investing in the critical technologies that Europe and the world will depend on. Seed and Series A. Deeply rooted in the Nordics.

Backed:Blykalla, Sparrow Quantum

Aventry Equity

Investment CompanySE

Aventry Equity is a Jönköping, Sweden-based investment firm backing Nordic growth companies across industrial equipment, additive manufacturing, retail/design products and fintech, emphasizing long-term partnerships and sustainable value creation alongside capital.

Backed:Wheelsystem, Rewired Industries, Rapid Dimension

Starbright Invest

Investment CompanySE

Starbright Invest is a Jönköping-based venture capital firm founded in 2015 that invests primarily in Swedish seed and Series A rounds, typically SEK 5-15 million per company, with a focus on technology and sustainability. Its hardtech-relevant bets include Einride, the autonomous electric truck maker, and Zigrid, which turns industrial waste heat into power.

Backed:Einride, Zigrid

EIFO

Public FundingDK

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.

Backed:Nordic Salt Cycle, Fida Biosystems, NKT, Acodyne, Kvasir Technologies, QuNorth

Further Than Capital

Investment CompanySE

Early-stage investment firm supporting impact-driven startups solving global challenges.

Backed:Terasi, Radtonics

Wicked Angels

Investment CompanySE

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.

Backed:BrainZell, Atonemo

Kompas VC

Venture CapitalDK

Copenhagen-based early-stage venture capital firm that has, since its founding in 2021, backed founders building enabling technologies for physical industries such as manufacturing, the built environment, and energy. In 2026 the firm closed a 160 million euro Fund II, backed by LPs including VKR Holding and new entrant Realdania, to keep investing at the intersection of the physical world and modern technology.

Backed:United Manufacturing Hub (UMH), Array Labs, Epoch Biodesign, General Biotechnologies, Found Industries, Tynt Technologies, Ecoworks, Material Evolution, fruitcore robotics, CyanoCapture, Point, Again

Turbine Capital

Venture CapitalSE

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.

Backed:Tribonex

Node.vc

Venture CapitalSE

Early-stage venture fund investing in Nordic B2B software and platform startups.

Backed:Vaja, Tobii, Volumental

The ecosystem

ALL 1192 COMPANIES →

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

ZiGrid

ProductEnergy & GridSE

ZiGrid develops a patented heat-power module that converts low-grade waste heat, down to 45-50°C, into electricity for energy-intensive industries such as steel, metals, and pulp and paper.

Sandvik

ProductMining & MetalsManufacturing & Industrial TechSE

Sandvik is a global, high-tech engineering group providing solutions for mining, rock excavation, metal cutting and materials technology, headquartered in Sweden.

SMAU

EnablerMedia & EventsINTL

An Italian innovation platform organizing events and fostering collaboration between startups, companies, and investors.

Recog

SupplierServices & EngineeringSE

Recog offers services in manufacturing system design, optimization, and operations, utilizing simulations and digital tools to enhance production efficiency.

Sunroof

ProductEnergy & GridSE

Develops integrated solar roofs combining roofing material with photovoltaic technology.

QuadSAT

ProductSpaceAerospace & AviationDK

Quadsat is a Denmark-based company that supplies airborne antenna testing solutions, combining drone technology with a custom RF payload to test and calibrate satellite communication antennas.

Monava

ProductDefence & SecurityAutonomous Systems & DronesSEFI

Monava combines advanced acoustics with AI to detect, track and classify drones, using a fully passive system that emits nothing that can be detected or jammed.

Elywhere

ProductEnergy & GridMobility & TransportNO

Elywhere designs and manufactures charger-plus-battery-storage EV charging stations that let fast charging work at sites where the local grid cannot support it.

NCI Sports Tracker

ProductComputing & ConnectivitySE

New Century Information (NCI) develops high-precision outdoor tracking systems using advanced MEMS sensors and DGNSS/INS positioning, enhancing sports experiences.

Norrköping Science Park

EnablerScience ParkSE

Supports innovation and entrepreneurship by providing infrastructure, networks, and services to startups and tech companies.

Indicio Tec

ProductRobotics & AutomationSE

Offers AI-driven forecasting tools for businesses to detect market trends without coding.

SAL Navigation

ProductMaritime & OceanSE

We develop and market Speed Logs & Echo Sounders, Voyage Data Recorders (VDR), and associated Cloud Applications and Services.

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 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 30

Per Brickstad – Transparent & the Quest for Timeless Tech

#30. The Quest for Timeless Tech Per Brickstad , founder and chief designer at Transparent , joins us in our 30th episode – a milestone worth noting. Transparent is on a mission to become the world’s first circular tech brand, building modular and upgradable audio gear that challenges consumer electronics’ throwaway logic. From a Stockholm design studio to a global hardware company, this is the st

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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 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 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 32

Daniel Wentz – Greenely & the Rise of the Virtual Power Plant

#32. The Rise of the Virtual Power Plant Daniel Wentz , Chief Product Officer at Greenely , joins the podcast to unpack one of the most interesting shifts in consumer energy: the rise of home batteries, intelligent orchestration, and virtual power plants. With a background leading global connected-device software at Electrolux, he shares why trust and control are the foundation of any energy produ

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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

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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 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 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 12

Dora Palfi and imagi: From Neuroscience to Neon Pixels

Episode #12: From Neuroscience to Neon Pixels with imagi Dora Palfi , co-founder and CEO of edtech company imagi , joins the podcast to talk about building tools that make tech education more accessible, playful — and empowering, especially for girls. With a background in both neuroscience and computer science, Dora shares her journey from research to entrepreneurship, and how imagi is redefining

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Insights

ALL INSIGHTS →

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

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

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

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

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 →
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

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

Vi är live!

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

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

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

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?

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INSIGHT

Deep Tech Needs to Go Deeper (Except Here)

A guest column argues Europe should focus on defensible niches like physical AI, quantum applications and precision biomanufacturing instead of chasing China everywhere.

READ →
INSIGHT

Vi ses snart!

Hårdvarupodden är under utveckling och de första avsnitten släpps våren 2024.

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.