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.
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.
Skagerak Capital
Norwegian venture and growth investor focused on sustainable tech and cleantech innovation.
Skåne Ventures
Regional VC initiative boosting startup capital access across southern Sweden.
EQT Ventures
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.
Navigare Ventures
Invests in early-stage life science companies, focusing on diagnostics, medtech, and biotech.
Eurostars
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.
Walerud Ventures
Family-backed investor supporting early-stage deep tech startups focused on sustainability and innovation.
Almi
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.
JM Ventures
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.
Partners in Clime
Partners in Clime is a Weinstadt, Germany based climate tech investor founded in 2022, backing pre-seed and seed hardtech and greentech founders across the DACH region with capital and founder-to-founder mentoring. It runs an angel syndicate model and co-invests with firms like b2venture, Point Nine, 468 Capital and Climate Founders.
Heartcore
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.
Pale Blue Dot VC
Pale Blue Dot is a Malmö based seed stage venture capital firm founded in 2020 by Hampus Jakobsson, Heidi Lindvall and Joel Larsson. It backs pre-seed and seed climate tech startups across Europe and the US, having closed its debut fund at 87 million euros in 2021 and a second fund at 100 million dollars in 2023.
Nordic Foodtech VC
Early-stage venture capital firm investing in deep foodtech across the Nordics and Baltics, backing startups building new technologies for food and agriculture.
The ecosystem
ALL 1091 COMPANIES →Who builds, supplies and enables hardtech across the Nordics, from garage startups to industrial giants. Browse by role, phase and vertical.
Incap
Global EMS partner for complex electronics manufacturing, offering PCB assembly, box-build integration and full product lifecycle support to industrial, defense, medical and energy customers.
FLIR Unmanned Aerial Systems AS (formerly Prox Dynamics)
Develops, manufactures and sells the world's smallest professional-use drone, the Black Hornet nano-UAV, from its headquarters in Hvalstad and production facility at Eggemoen, Norway.
Elproman AB
Supplies cable management and wiring products for industry and automation.
Datek Next
Certified consulting firm offering hardware, software, embedded and testing development for the defence, space and energy sectors, based in Lillestrøm, Norway.
Boule Medical AB
Boule Medical AB develops, manufactures, and commercializes diagnostic devices, reagents, and controls for human and veterinary hematology testing, contributing to improved healthcare access globally.
Enduce
Develops energy optimization solutions for buildings using AI and IoT technologies.
Navispace
Organizes innovation competitions and events, connecting startups with industry leaders.
IVISYS
Offers automated vision inspection systems for quality control in manufacturing.
Easy-Laser AB
Manufactures laser-based measurement and alignment systems for industrial applications.
Uddeholm
Uddeholm is the world's leading manufacturer of tool steel.
IndustryHack
Facilitates co-creation between companies and tech startups to develop new digital services in traditional industries.
Rebelvolt
Rebelvolt is redefining mobile power with its battery-based e-Generator – a clean, silent, and maintenance-free alternative to traditional diesel generators.
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.
Open raises
SEE WHO IS RAISING →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 15 Ola Wassvik & Flatfrog: Att äga vägen till skalbarhet [SWE]
Ola Wassvik , medgrundare av Flatfrog , gästar podden och berättar hur bolaget tog en optisk multitouch-teknik från ett labb i Lund till en global marknad. I dag används Flatfrogs lösningar i allt från klassrum till styrelserum – men bakom framgången finns en annan avgörande faktor: patenten. Med över 300 patent i ryggen använde Flatfrog IP som ett strategiskt verktyg för att skydda sin teknik, sä
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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
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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 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 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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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 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 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
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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 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 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
LISTEN →Insights
ALL INSIGHTS →What we have learned about building, scaling and funding hard things in the Nordics.
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 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 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 →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 →
INSIGHT Building Before You Ask for Permission
Atonemo's founder explains how reduction, timing and restraint shape consumer hardware development.
READ →
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.
READ →
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.
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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 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 →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 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.
READ →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.
AI-driven patent filing for tech companies. Protect what you invent, at software speed.
LIGHTBRINGER.COM ↗ SISPSwedish Incubators and Science Parks, the national infrastructure for innovation environments.
SISP.SE ↗ RECUROGrowth partner for tech and media companies, from strategy to execution.
RECURO.COM ↗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.