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.

Flat Capital

Investment CompanySE

Publicly listed Swedish investment firm, majority owner of Defensor Group, an industrial group built to become a leading player in the Nordic defense and security industry, with holdings including ArmaTech, SAFE4U, Zulu Marine, Novator Solutions and Crepitans. Also holds a stake in SpaceX.

Backed:Defensor Group, Crepitans, ArmaTech, SAFE4U, Zulu Marine, Novator Solutions, SpaceX

Norrsken

Venture CapitalSE

A non-profit foundation and impact VC investing in startups that address global challenges through entrepreneurship and technology.

Nysnø Climate Investments

Public FundingNO

State-owned Norwegian climate investment company, headquartered in Stavanger and owned by the Ministry of Trade, Industry and Fisheries, backing hardtech and climate technology companies and funds.

Backed:Morrow Batteries, Hystar, Cenate, Alva Industries, Lace Lithography

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

Northzone

Venture CapitalSE

Northzone is a multi-stage venture capital firm founded in 1996 in Oslo, now headquartered in London with offices across the Nordics, Amsterdam and New York, investing from seed through growth stage across Europe and the US. Its portfolio includes Spotify, Klarna, Einride and Black Forest Labs, and it has backed companies through more than 250 investments to date.

Backed:AirForestry, Asetek, Einride, Silex Microsystems, MicroAGI, Monumental

Business Finland

Public FundingFI

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

Backed:N/A

Vargas

Investment CompanySE

Vargas is a Stockholm-based impact company builder that identifies, validates, finances and scales industrial companies in hard-to-abate sectors. Founded in 2014, it has built or co-founded Northvolt, Polarium, Stegra (formerly H2 Green Steel), Aira, Syre and the Arctial aluminium project, spanning batteries, energy storage, green steel and hydrogen, heat pumps and textile recycling.

Backed:Polarium, Northvolt, Stegra, Aira, Syre, Arctial

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

Pre-Seed Ventures

Venture CapitalDK

PSV (formerly PreSeed Ventures) is a Copenhagen based venture house rooted at DTU, running three units, the evergreen PSV Foundry, the pre-seed software fund PSV Tech, and PSV Hafnium, a dedicated Nordic deep tech fund backed by EIF and EIFO that has already invested in nine plus deep tech startups across clean energy, semiconductors, photonics and industrial technology.

Backed:Solinide Photonics, Acodyne, Spaceline Labs, SisuSemi, Enerin, Thiax, Dynelectro, ATLANT 3D NanoSystems, Sparrow Quantum, PhaseTree, Veo, Seaborg Technologies, Glycom

Nordic Alpha Partners

Investment CompanyDK

Nordic Alpha Partners is a Copenhagen based industrial greentech growth fund investing across two funds worth roughly 400 million EUR since 2017. It uses an operational value creation toolkit to scale portfolio companies in energy transition, agriculture, building and construction, industrial process innovation, circular economy and waste, and water and wastewater.

Backed:Additive Drives, STABL, Sunroof, Green Hydrogen Systems, Agrointelli, Airwatergreen, MicroShade, DyeMansion, Wiferion, Re-Match, Variolytics, AquaGreen

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

Allan Junge Hyldal

Business AngelDK

Allan Junge Hyldal is a Danish business angel and Lead Angel with DanBAN, focused on medtech and deeptech startups. He has personally invested in and sits on the boards of hardware and device companies including Exo360 and PERFI Technologies.

Backed:Exo360, PERFI Technologies

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.

Myrtleed Innovation

EnablerINTL

Provides commercialization support for deep tech innovations, bridging the gap between research and market. Formerly Myrtle Ed Innovation.

PLAATO

ProductManufacturing & Industrial TechNO

PLAATO delivers IoT sensors and software for fermentation monitoring and production optimization in breweries, distilleries, wineries and RTD producers.

Envue Technologies (Acquired by NanoTemper Technologies)

ProductHealth & MedtechSE

A platform technology offering real-time and label-free analysis of biological nanoobjects at the single-molecule level for a wide range of life science applications.

Darekon AB

SupplierServices & EngineeringFI

Offers contract manufacturing services for medical and industrial electronics.

Schneider Electric Sverige AB

ProductEnergy & GridINTL

Schneider Electric provides energy management and automation solutions, offering integrated technologies for various sectors.

Smartare Elektroniksystem

EnablerIndustry OrganizationSE

A Swedish strategic innovation program aimed at strengthening the electronics industry through collaboration between academia, industry, and public sector.

AB Volvo

ProductMobility & TransportSE

The Volvo Group is headquartered in Gothenburg, Sweden and develops trucks, buses, construction equipment, and drive systems for marine and industrial applications.

Tobii AB

ProductHealth & MedtechSE

Develops eye-tracking technology for various applications, including research and consumer electronics.

Midsummer

ProductEnergy & GridSE

Manufactures thin-film solar panels and provides turnkey solutions for solar energy production, promoting sustainable energy.

PolarCool

ProductHealth & MedtechSE

PolarCool develops, markets and sells the PolarCap System, a portable cooling device for treatment of sports-related concussion.

PowerCell

ProductHydrogen & FuelsSE

PowerCell Group develops and produces fuel cell stacks and systems with uniquely high power density, powered by pure or reformed hydrogen, for aviation, marine, off-road, on-road and power generation applications.

MyDefence

ProductDefence & SecurityAutonomous Systems & DronesDK

MyDefence is a Danish company developing radio frequency-powered counter-drone (C-UAS) products, including wearable, vehicle-mounted and perimeter systems, to detect and defeat unmanned aerial systems.

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 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 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 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 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 4

James Campion och TERASi: In i hjärtat av svensk deeptech

#4. In i hjärtat av svensk deeptech James Campion , grundare av TERASi, gästar podden och berättar hur det är att bygga ett deeptech-bolag i Sverige – med rötterna i forskning, blicken mot 6G och finansieringsgapet ständigt närvarande. Vi pratar om teknik, produkt, kapital och politik. Om att utveckla kommunikationssystem för nästa generations nätverk, och varför det ibland känns som att förklara

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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 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 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 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 9

Isabella Palmgren och Mimbly: Cleantech, bokstavligt talat [SWE]

#9. Cleantech, bokstavligt talat Isabella Palmgren , vd och grundare av Mimbly , gästar podden och berättar hur ett studentprojekt från Chalmers blev ett prisbelönt cleantech-bolag med global potential. Mimbox minskar såväl vattenförbrukning som mikroplaster och är byggd för att fungera i verkligheten, inte bara i labbet. Vi pratar om vägen till en säljbar produkt, hur man skalar en hårdvarulösnin

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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

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?

READ →
INSIGHT

Now Launching: Nordic Hardtech

READ →
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.

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

Karoly Szipka on Making Machines Talk: and Building a Business Around It

IPercept's founder explains how CNC diagnostics and machine data could save Europe's aging industrial expertise.

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

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

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.

READ →
INSIGHT

Vi är live!

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

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INSIGHT

Why IP Is Your First Investor: And Your Strongest Advantage

Dominic Davies argues founders must treat IP as an early strategic asset, not a legal afterthought, to win investor trust.

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.

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 →

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.