THE FUNDING MAP / BY TYPE AND ORIGIN
Public funding from the rest of Europe for hardtech
5 public funders from the rest of Europe with documented hardtech investments. State and EU instruments: grants, soft loans and co-investment. Non-dilutive money that funds the stretch from lab to first product. Deadlines and program details are on the grants pages.
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)
InnoEnergy is the EU-backed clean tech investor founded in 2010 by the European Institute of Innovation and Technology, headquartered in Eindhoven with a Swedish entity, KIC IE AB, in Stockholm. It holds equity stakes in 160+ active companies and has backed Nordic hardtech names including Minesto, CorPower Ocean and Northvolt, alongside battery, hydrogen and materials plays across Europe.
Backed Minesto, Hardt Hyperloop, Verkor, CorPower Ocean, GravitHy, Skeleton Technologies
Scaleup Europe Fund is a EUR 5 billion growth fund managed by EQT, targeting European technology scaleups from Series B through pre-IPO in sectors including AI, quantum, space, clean energy and biotech. It was founded by the European Commission alongside investors including Novo Holdings, Allianz, APG, EIFO, CriteriaCaixa and Santander/Mouro Capital, and made its first investment in August 2026, co-leading ICEYE's EUR 1 billion Series F round.
Backed ICEYE
Corporate venture capital arm of SINTEF, one of Europe's largest independent research organizations. Commercializes IP and spins out deep tech ventures from SINTEF and NTNU research, investing through successive seed and early-stage funds (SINTEF Venture III through VI).
Backed Sonair, Cartesian, Hystar, MoreScope, Mia Health, poLight
Iceland's national competitive fund for technology-driven innovation, administered by Rannís (the Icelandic Centre for Research). Issues grants twice a year across four company grant categories (Seed/Fræ, Sprout/Sproti, Growth/Vöxtur, Market/Markaður) plus patent and applied research grants for R&D projects aimed at commercialization in Icelandic industry.
Backed Navis (electric line-fishing boat design)
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