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.

177
Investors mapped
1236
Ecosystem companies
37
Podcast episodes
8,000+
Newsletter readers

The funding map

ALL 177 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.

Trio Impact

University Venture EntitySE

Trio Impact Invest is a Swedish deep-tech venture capital fund established by the holding companies of KTH, Karolinska Institutet, and Stockholm University, combining private and public capital, including EU regional development funding, to back early-stage, research-intensive companies in Sweden. As a newly formed vehicle it does not yet have a disclosed standalone portfolio; its track record so far sits with the founding university holding companies.

Backed:N/A

Concejo

Investment CompanySE

Concejo AB (publ) is a Nasdaq Stockholm-listed Swedish investment company headquartered in Nacka, structured around two business areas: Concejo Industrier, which holds majority stakes in operating industrial companies mainly in fire/gas safety, and SBF Fonder, an asset manager for Swedish residential real estate funds; it also holds minority stakes in Nordic listed and unlisted technology/growth companies via associate holdings.

Backed:SAL Navigation, BeammWave, Xenergic, Firenor International, ACAF Systems, Optronics Technology, Charge Amps, Trifilon

Navigare Ventures

Venture CapitalSE

Stockholm-based early-stage investor in science-driven deeptech: advanced computing and quantum, synthetic biology, advanced materials, nanotechnology and data-driven life science. Founded in 2021 as a wholly owned subsidiary of Wallenberg Investments AB, it has now been integrated into Wallenberg Investments as part of its Ventures unit. It backs Seed and Series A companies, with permanent capital and no fund life cycle.

Backed:AlixLabs, SweGaN, TeraSi, Solinide Photonics, Profundus, EnginZyme, Interspectral, IntuiCell, Nordic Forestry Automation (NFA), Westra Materials, Ligna Energy, LunaLEC, AdamantQ

InnoEnergy (EIT InnoEnergy)

Public FundingInvestment CompanySEEUINTL

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, ecop, Northvolt, H2 Green Steel, Mine Storage, Vulcan Energy Resources, Euro Manganese, Prime Battery Technologies, Nevomo, Empyrio, Coat-it, Pure Battery Technologies, Basquevolt, Phynix, Phytonics, Heliup, iON-Energy, FertigHy, Holosolis, Solaqua, Zbox, Rivus Batteries, TaiSan, Nordluft, VolagHy, Energiot, ROSI, GeoLinks, Equinox Ocean Turbines, ElevenEs, Sunwafe, Stockholm Water Technology

Partners in Clime

Venture CapitalINTL

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.

Backed:Hula Earth, Cotierra, Senara, Nautica Technologies, New Path Bio, Arkeon

Prota Ventures

Venture CapitalINTL

Prota Ventures is a venture-building and early-stage investment firm headquartered in Chicago, founded in 2016, that invests financial and non-financial capital in technology startups from concept to launch. No Nordic office, partner, or portfolio company has been identified, so its inclusion on a Nordic map is questionable.

Backed:Bird Buddy, CarlsMed, Glidance

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

Bring Ventures

Corporate VentureNO

Bring Ventures is the corporate venture arm of the Norway Post Group, investing in early-stage companies focusing on sustainability and digitization within logistics and related sectors.

Kick Kapital

Angel networkSE

Kick Capital is a Swedish business angel investment vehicle backed by 35 regional business angels and the state venture capital firm Saminvest, run jointly by Blekinge Business Incubator, Kalmar Science Park and Företagsfabriken i Kronoberg. It invests 300,000 to 500,000 SEK via convertible loans exclusively in startups admitted to these three incubator programs in southeastern Sweden.

Backed:Carbo Gaia, Neurawave, Upmanure, Fernandi Innovation, TXG ECOBogie, Guldhov EquiTech

Rymdkapital

Venture CapitalSE

Rymdkapital is a Stockholm-based venture capital firm founded in 2020, investing in early-stage European spacetech companies from angel to Series A rounds. It also runs the pan-European Expansion Ventures fund together with Audacia and Starburst.

Backed:DcubeD (Deployables Cubed), Osmos X, The Exploration Company, ReOrbit, Forsway, Pythom Space

Novax

Venture CapitalSE

Novax is the growth investment arm of the Axel Johnson Group, backing small and mid-sized companies across food, health, security and energy. It builds sector platforms such as Ingå (food ingredients), Bond Health Group (wellness) and, since 2024, AxSol, which invests in and scales renewable energy companies.

Backed:RCO Group, Nimly, RCO Security, Swedlock, NitroCapt

Inflection

Venture CapitalINTL

Inflection is an early-stage venture fund investing 500K to 2M dollars at idea, pre-seed and seed stage in engineering moonshots across computation, cryptography, physical AI, robotics, manufacturing, energy, resilience and aerospace, with a geographic preference for Europe. It has led Nordic rounds including the 2025 pre-seed extension for Stockholm-based drone defence startup Nordic Air Defence and backed Malmö robotics company Levtek.

Backed:Levtek, Stealth, Ark, Nordic Air Defence, Deep Earth, Lodestar, Ubitium, Fabric, Radical, Aptos, Arx, Hologram, Foundation

The ecosystem

ALL 1236 COMPANIES →

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

Luma Energy

ProductEnergy & GridSE

Offers renewable energy solutions including solar panels and energy storage systems for properties.

Aira

ProductEnergy & GridSE

Aira offers clean energy solutions for homes, including intelligent heat pumps and solar panels, aiming to reduce carbon emissions and energy costs.

Glacell

SupplierServices & EngineeringSEAcquired by Peab Group (via Lambertsson Sverige AB)

Offers energy solutions including solar panels, charging stations, and energy installations.

Turn Energy

ProductEnergy & GridSE

Develops, operates, and owns solar parks, supplying renewable energy to businesses.

NOTE

SupplierServices & EngineeringSE

Offers electronics manufacturing services, including PCB assembly and box build, serving various industries such as medtech, industrial, and communication.

June

SupplierComputing & ConnectivitySE

Provides television services, integrations, and expert consulting for the media industry.

Nordic Mining ASA

ProductMining & MetalsAdvanced MaterialsNO

Norwegian resource company developing the Engebø rutile and garnet deposit on Norway's west coast through its subsidiary Engebø Rutile and Garnet AS (ERG), with additional patented technology for alumina production and exploration in high-purity quartz and seabed minerals.

MedBeat

ProductHealth & MedtechSE

MedBeat was founded in 2018 in Lund by physician Erik Rask and develops products within long-term ECG recording, with a wearable device that detects arrhythmias including atrial fibrillation.

Netport Science Park

EnablerScience ParkSE

A science park fostering innovation and collaboration in digital media, energy, and logistics sectors.

AgileLab

SupplierComputing & ConnectivityINTL

AgileLab specializes in data engineering and AI solutions, enabling companies to build efficient, decentralized platforms for real-time decision-making.

Kongsberg Satellite Services (KSAT)

ProductSpaceAerospace & AviationNO

KSAT is a world leading provider of communication services for spacecraft and launch vehicles from its uniquely located global ground network, and provides advanced monitoring services with rapid delivery based on multiple satellite missions.

Enairon

ProductEnergy & GridSE

Develops energy-efficient air compressors utilizing water and gravity-based technology.

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 podcast

ALL 37 EPISODES →

Conversations with the founders and funders of Nordic hardtech.

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 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 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 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 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 24

Henrik Jonsson och agood company: Cirkulärt varvet runt – mobilskalet som vill rädda planeten [SWE]

#24.Cirkulärt varvet runt – mobilskalet som vill rädda planeten Henrik Jonsson , vd på agood Company , gästar podden och berättar hur bolaget bygger cirkulära konsumentprodukter i stor skala – med lokal produktion som vapen mot klimatkrisen. Från en idé om att sälja direkt till konsument till att i dag samarbeta med jättar som Deutsche Telekom – här är berättelsen om hur hållbarhet blev affär. Ago

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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 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 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 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 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

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.

READ →
INSIGHT

The Hardtech Christmas List: What Nordic Founders Really Want

A December reflection on the unglamorous but essential conditions Nordic hardtech founders actually need to keep building.

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

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

The Deeptech Funnel: Why European Legacy Industry Must Stop Being a Spectator

Argues European legacy industry must engage deeptech startups earlier, during the demonstration phase, instead of waiting for finished technology.

READ →
INSIGHT

Built in Sweden? Only if you survive the manufacturing gap first

Monica Bellgran explains why Swedish hardware startups bring in industrialization too late and what that risks.

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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.

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INSIGHT

From stubbornness to breakthroughs: the case for difficult founders

Industrifonden's Mala Valroy explains why she backs stubborn, bold deep tech founders over comfortable, consensus-seeking ones.

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INSIGHT

Who Makes the Nordic Hardtech Canon?

A playful editorial ranks the inventions and companies that define Nordic hardtech's lasting industrial legacy.

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INSIGHT

Vi ses snart!

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

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.

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.