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
1091
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.

Unconventional Ventures

Venture CapitalSE

VC firm investing in diverse founding teams and impact-driven companies across the Nordics and Europe.

Backed:Ocean Oasis, DREV

Katalysen Ventures

Investment CompanySE

Stockholm-listed venture developer founded in 2016 that puts knowledge, hands-on support and capital into early-stage owner-led companies, often through its Venture Targeter turnaround framework, in exchange for equity and warrants. Core holdings span bioanalytics, diagnostics, event tech and digital asset compliance, with a wider portfolio of roughly 20 smaller stakes across the Nordics, DACH and beyond.

Backed:QuTEM, S4DX, iReality, Manico, Skawen, ConexBird, WebbEss

Volvo Group Venture Capital

Corporate VentureSE

Corporate VC arm of Volvo Group, investing in innovative startups in transport, mobility, and energy.

Backed:InductEV, Terratech, Powercell Sweden

Horizon Europe

Public FundingINTL

Horizon Europe is the EU's flagship research and innovation funding programme (2021-2027, ~€93.5B budget), whose EIC Accelerator and EIC Fund provide blended grant/equity financing to deep-tech and hardtech startups and SMEs across the EU and associated countries, including recurring Nordic recipients (e.g., Swedish and Danish EIC Accelerator winners) and EIC info-day activity in the Nordics (e.g. Copenhagen). Because it funds via competitive, rolling calls with only partial per-round public disclosure, no single exhaustive portfolio list exists; qualifies as a Public Funding instrument rather than a conventional VC.

Backed:N/A

EQT (Scaleup Europe Fund)

Investment CompanyPublic FundingSEEU

EQT is a Stockholm-founded global investment organization managing the Scaleup Europe Fund, a €5bn public-private growth vehicle backed by the European Commission and institutions including Novo Holdings, EIFO and Wallenberg Investments, aimed at scaling Europe's most promising deep-tech companies from Series B to pre-IPO.

Backed:ICEYE (Espoo-based SAR satellite constellation operator); EQT Ventures portfolio also includes The Exploration Company (aerospace/space)

North Ventures

Venture CapitalDK

North Ventures is a Copenhagen-based venture capital firm investing in technology-driven companies from seed to Series A in Denmark and across the Nordics. Founded in 2019 as an evolution of North Finance, it has backed dozens of Danish growth companies and raised a dedicated venture fund targeting DKK 300 million to keep scaling that activity.

Backed:Sparrow Quantum, Quadsat, Reblade, Advalight, a:gain, Dryp

SEB Greentech VC

Venture CapitalSE

Corporate VC investing in early-stage Nordic companies driving green technology transitions.

Backed:CorPower Ocean, Qvantum, AirForestry, Rocsys

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

Maki.vc

Venture CapitalFI

Helsinki-based venture capital firm investing at pre-seed and seed stage in deep tech and brand-driven startups, managing €260 million across three funds with initial tickets from €300,000 to €3 million.

Backed:IQM, Spinnova, QMill, Distance Technologies, CardioSignal, Onego Bio

GU Ventures

University Venture EntitySE

University of Gothenburg’s venture firm supporting research-based startups in life science, tech, and impact.

Backed:Mimbly, Enarion, Luxbright

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

Volvo Cars Tech Fund

Corporate VentureSE

Corporate venture capital fund investing in technologies that shape the future of mobility.

Backed:Neura Robotics, Leadrive, Dcbel

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.

Sensorbee

ProductSensors & InstrumentationClimate & EnvironmentSE

Sensorbee is a Swedish environmental technology company headquartered in Linköping, designing, manufacturing and deploying solar-powered, cellular-connected monitoring stations for air quality, noise, vibration, dust and weather.

J2 Sourcing / 5A

SupplierDistribution & SupplySE

Provides sourcing and distribution services for electronic components.

Qtpie

ProductRobotics & AutomationSE

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

Axera Inkubator (rebranded from Peak Innovation)

EnablerSE

Peak Innovation is a regional development initiative aimed at fostering innovation and collaboration among businesses and academia. Formerly Axera Inkubator.

Elproman AB

SupplierDistribution & SupplySE

Supplies cable management and wiring products for industry and automation.

Hybird Energy

ProductEnergy & GridDK

Copenhagen-based startup developing intelligent electrical panels powered by an AI energy cloud, enabling businesses to monitor and remotely control electricity, water, and heating consumption at the circuit-breaker level.

EmbeddedArt Group AB

ProductDefence & SecuritySE

C Security Systems develops and markets security solutions, including GPS tracking and alarm systems for personal and asset protection.

Danish Graphene

SupplierSpaceAdvanced MaterialsDK

Danish Graphene develops and produces functionalized graphene and green graphene oxide for industrial applications, including graphene-enhanced thermal adhesives for space hardware thermal management.

Saltfoss Energy

ProductEnergy & GridNuclearDK

Saltfoss is developing the seaMSR-100, a floating molten salt reactor delivering safe, low-cost, scalable nuclear energy to replace fossil fuels globally.

Ecoist

ProductMobility & TransportSE

Develops electric vehicles focusing on sustainable urban mobility solutions.

Deep Forestry

ProductRobotics & AutomationSE

Deep Forestry AB develops autonomous drones equipped with AI for precision forestry, enabling efficient forest inventory and biodiversity assessments.

Saft

ProductEnergy & GridINTLAcquired by TotalEnergies

Saft designs and manufactures high-tech batteries for industry, transportation, and defense applications.

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 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 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 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 7

Claes Kjölhede och Airolit: Svensk hardtech ur ett drönarperspektiv

#7 Svensk hardtech ur ett drönarperspektiv Claes Kjölhede , vd på drönarbolaget Airolit , intervjuas live på Evertiq Expo i Göteborg. Vi pratar om hur man bygger avancerade drönarsystem i Sverige – och vad som krävs för att leverera till både totalförsvar och forskningsvärld. Airolit grundades 2017 för att utveckla UAV/UAS-lösningar för krävande industriella användare. Med fabrik i Mölndal, partne

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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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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 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 1

Stefan Ytterborn och Cake: Från hype till haveri

#1. Från hype till haveri Stefan Ytterborn , grundare av elfordonsbolaget Cake , gästar premiäravsnittet av Hårdvarupodden (numer Nordic Hardtech Podcast). Vi pratar om hela bolagsresan – från vision och hype till konkurs – och om vad andra kan lära sig av en resa som gick snabbt, snyggt och slutade tvärt. Cake satte en ny standard för elfordon. Men att bygga hårdvara, skala globalt och finansiera

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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 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 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 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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Insights

ALL INSIGHTS →

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

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

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

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

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

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.

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INSIGHT

Predictions for 2026

Nordic and European hardtech voices share predictions on AI, energy resilience, robotics and Europe's push to lead in 2026.

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INSIGHT

Glasses to ashes: why AR, VR and AI wearables keep failing: until they don’t

A decade of failed AR, VR and AI wearables shows execution, not vision, is hardtech's hardest problem.

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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

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.

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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

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 Validation Economy

Donut Lab's battery claims show how independent validation itself becomes strategic currency in deep hardware.

READ →

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.