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Top 50 Hardware VC Funds & Investors in Finland (November 2026)

The most active venture capital funds investing in Finland Hardware startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Finland Hardware startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Lifeline Ventures
VC Fund
30 Finland, United States, United Kingdom Seed, Series A, Venture - Series Unknown Software, Health Care, Artificial Intelligence $430k–$22M
Inventure
VC Fund
23 Finland, Sweden, United States Seed, Series A, Series B Software, Information Technology, Artificial Intelligence $549k–$25M
Butterfly Ventures
VC Fund
22 Finland, Sweden, Norway Seed, Pre-Seed, Venture - Series Unknown Software, Health Care, Information Technology $110k–$6M
Business Finland
VC Fund
21 Finland, United States, United Kingdom Grant, Seed, Debt Financing Software, SaaS, Biotechnology $52k–$6.6M
Finnvera Venture Capital
VC Fund
19 Finland, United States, Chile Seed, Venture - Series Unknown, Series A Software, Health Care, Information Technology $228k–$23M
Tesi
VC Fund
19 Finland, United States, Switzerland Series A, Series B Software, Manufacturing, Information Technology $2.4M–$46M
Superhero Capital
VC Fund
15 Finland, Lithuania, Estonia Seed, Pre-Seed, Venture - Series Unknown Software, Information Technology, Artificial Intelligence $114k–$7.3M
Icebreaker.vc
VC Fund
14 Finland, Sweden, Estonia Pre-Seed, Seed, Series A Software, Information Technology, Artificial Intelligence $110k–$25M
VTT Ventures
VC Fund
13 Finland Seed, Venture - Series Unknown, Series A Manufacturing, Biotechnology, Electronics $460k–$14M
Maki.vc
VC Fund
12 Finland, Norway, Denmark Seed, Series A, Pre-Seed Software, E-Commerce, Information Technology $578k–$37M
Innovestor
VC Fund
12 Finland, Sweden, Denmark Seed, Venture - Series Unknown, Pre-Seed Software, Health Care, Information Technology $204k–$5.1M
Voima Ventures
VC Fund
11 Finland, Sweden, Norway Seed, Pre-Seed, Series A Biotechnology, Health Care, Artificial Intelligence $464k–$30M
Sisu Game Ventures
VC Fund
8 Finland, United States, France Seed, Series A, Pre-Seed Gaming, Video Games, Software $112k–$38M
Conor Venture Partners
VC Fund
7 Finland, United States, Sweden Series A, Series B, Seed Software, Analytics, Semiconductor $1.1M–$18M
First Fellow Partners
VC Fund
7 Finland, United States, Sweden Seed, Series A, Pre-Seed Software, SaaS, Information Technology $256k–$26M
Reaktor Ventures
VC Fund
7 Finland, Germany, United States Seed, Pre-Seed, Series A Software, Internet, E-Commerce $151k–$6.8M
Redstone.VC
VC Fund
6 Germany, Finland, Switzerland Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $460k–$17M
OP Financial Group
VC Fund
5 Finland, France, Sweden Debt Financing, Post-IPO Debt, Series A Energy, Renewable Energy, FinTech $39k–$3.2B
Nordic Option
VC Fund
5 Finland Private Equity, Venture - Series Unknown, Seed Manufacturing, Software, Electronics $1.1M–$10M
Visionplus
VC Fund
5 Finland, United States, United Kingdom Seed, Venture - Series Unknown, Series A Software, Information Technology, Internet $87k–$14M
VNT Management
VC Fund
5 Finland, Germany, Switzerland Seed, Venture - Series Unknown, Series B Energy, Manufacturing, Electronics $1.4M–$13M
Varma Mutual Pension Insurance Company
VC Fund
4 Finland, United Kingdom Series A, Series B, Venture - Series Unknown Software, Information Technology, Hardware $8.2M–$320M
Vito Ventures
VC Fund
4 Germany, Finland, United States Series A, Seed, Venture - Series Unknown Software, Information Technology, Internet of Things $1.5M–$46M
ETF Partners
VC Fund
4 United Kingdom, France, Germany Series A, Series B, Venture - Series Unknown Software, Renewable Energy, Information Technology $3.5M–$33M
True Ventures
VC Fund
4 United States, United Kingdom, Canada Seed, Series A, Series B Software, Artificial Intelligence, Information Technology $1.1M–$47M
Summit Partners
VC Fund
4 United States, Germany, United Kingdom Private Equity, Series B, Venture - Series Unknown Software, Information Technology, Health Care $4.8M–$290M
Seraphim Space
VC Fund
4 United Kingdom, United States, Canada Seed, Pre-Seed, Venture - Series Unknown Aerospace, Software, Information Technology $70k–$25M
OpenOcean
VC Fund
4 Finland, United States, Germany Series A, Seed, Series B Software, Information Technology, Artificial Intelligence $2.3M–$30M
Wave Ventures
VC Fund
4 Finland, Sweden, Germany Pre-Seed, Seed, Venture - Series Unknown Software, Information Technology, Internet $183k–$4M
FOV Ventures
VC Fund
3 Finland, United Kingdom, Germany Seed, Pre-Seed, Series A Software, Gaming, 3D Technology $333k–$37M
Leaguer Venture Capital
VC Fund
3 China, United States, Finland Series A, Seed, Series B Manufacturing, Advanced Materials, Artificial Intelligence
Brighteye Ventures
VC Fund
3 United Kingdom, France, Spain Seed, Series A, Pre-Seed Education, Software, E-Learning $541k–$20M
European Investment Bank
VC Fund
3 France, Germany, Spain Debt Financing, Post-IPO Debt, Venture - Series Unknown Energy, Biotechnology, Health Care $8.7M–$587M
Supercell
VC Fund
3 Finland, United States, United Kingdom Seed, Series A Gaming, Video Games, PC Games $425k–$26M
Centre for Economic Development, Transport and the Environment
VC Fund
3 Finland Grant, Seed SaaS, Software, FinTech $34k–$7.4M
PROfounders Capital
VC Fund
3 United Kingdom, United States, Finland Seed, Series A, Series B Software, SaaS, Apps $1.3M–$60M
Everywhere Ventures
VC Fund
3 United States, United Kingdom, Australia Seed, Pre-Seed, Series A Software, Health Care, Artificial Intelligence $250k–$20M
Initial Capital
VC Fund
3 United Kingdom, United States, Finland Seed, Series A, Pre-Seed Gaming, Mobile, Software $575k–$12M
Nordic Foodtech VC
VC Fund
3 Finland, Denmark, Sweden Seed, Pre-Seed, Series A Biotechnology, Food and Beverage, Life Science $610k–$18M
S & S Sivonen Oy - Sami Sivonen
VC Fund
2 Finland Seed B2B, Video, Database $165k–$3.3M
Innovations Kapital
VC Fund
2 Sweden, Denmark, United States Series B, Series C Biotechnology, Health Care, Software $5.5M–$30M
Earlybird Venture Capital
VC Fund
2 Germany, United States, United Kingdom Series A, Seed, Series B Software, Information Technology, Artificial Intelligence $1.5M–$75M
Draper Associates
VC Fund
2 United States, Canada, United Kingdom Seed, Series A, Series B Software, Artificial Intelligence, Blockchain $700k–$41M
Boost VC
VC Fund
2 United States, Canada, United Kingdom Seed, Pre-Seed, Venture - Series Unknown Software, Virtual Reality, Artificial Intelligence $100k–$8.9M
Tiny Supercomputer Investment Company
VC Fund
2 United Kingdom, Germany, United States Seed, Pre-Seed, Series A Software, Artificial Intelligence, SaaS $750k–$37M
Vendep Capital
VC Fund
2 Finland, Denmark, United States Seed, Series A, Venture - Series Unknown Software, SaaS, Information Technology $823k–$13M
Angular Ventures
VC Fund
2 Israel, United States, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Artificial Intelligence $622k–$45M
CapMan
VC Fund
2 Finland, Russian Federation, Sweden Private Equity, Series B Software, Information Technology, Health Care $2.1M–$100M
Bragiel Brothers
VC Fund
2 United States, Finland, Japan Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $125k–$25M
Nuard Ventures
VC Fund
2 Finland, Germany, United States Seed, Angel, Pre-Seed IaaS, Video, Gaming $159k–$680k
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Investor list

Lifeline Ventures
VC Fund · Helsinki, Southern Finland, Finland · 30 investments in Finland Hardware startups

Lifeline Ventures is one of the world's highest performing venture funds. Founded by serial entrepreneurs, Lifeline partners closely with resilient founders from day one — supporting them with funding, talent, and everything it takes to build category-leading companies. The fund is sector-agnostic and seeks to make inception to Series A investments. Lifeline Ventures was founded in November 2009 and is based in Helsinki, Finland.

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Investment focus

  • Industry: Software, Health Care, Artificial Intelligence
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Finland, United States, United Kingdom

Investor stats

  • Total investments: 208
  • Round size: Seed $580k–$5.4M; Series A $2.8M–$22M; Venture - Series Unknown $430k–$11M
  • Lead/follow: 38% lead, 62% follow
  • Last fund: Likely actively investing — fresh fund, raised $464M in 2025

Portfolio highlights

  • Verda — Verda provides a full-stack AI cloud platform for the development, training, and deployment of AI models. Its services include GPU instances, instant clusters, serverless containers, managed storage, and other cloud infrastructure powered by NVIDIA hardware. Verda also operates an AI Lab focused on large-scale training, inference optimization, reinforcement learning, and AI systems engineering. Its platform serves AI developers and organizations across the full AI lifecycle, from prototyping to scalable inference.
  • Thor Dynamics — Headquartered in Orlando, Florida, with a European base in Finland, Thor Dynamics specializes in directed energy systems for defense against drones and drone swarms. The company’s innovative solutions are available worldwide to protect critical infrastructure and enhance national security. Laser Armor™ is a complete directed energy counter-dronesolution. Utilizing advanced radar and optical systems it can detect, track, and target hostile targets. High-power directed energy from Thor’s Laser Engines then eliminates the threat in seconds. Multiple safety systems ensure accurate target identification and minimal collateral damage.
  • Coherence Quantum — Coherence Quantum is a quantum hardware company that creates integrated cryogenic signaling and control platforms designed for solid-state quantum computers.
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Inventure
VC Fund · Helsinki, Southern Finland, Finland · 23 investments in Finland Hardware startups

Since 2005, Inventure has backed over 90 companies including Wolt, Swappie, Jobbatical, aiMotive, and more.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Series B
  • Geography: Finland, Sweden, United States

Investor stats

  • Total investments: 180
  • Round size: Seed $549k–$6M; Series A $1.3M–$17M; Series B $1.3M–$25M
  • Lead/follow: 48% lead, 52% follow
  • Last fund: Likely still investing — raised $140M in 2022

Portfolio highlights

  • Lassie — Lassie is the first proactive and preventive pet insurance company that wants to help pet owners take better care of their pets
  • Capalo AI — We maximize the value of your energy storage systems. Now and in the future.
  • Algorithmiq — Algorithmiq utilizes its expertise in quantum information, complex systems, and computational physics to develop algorithms to develop new and effective drugs, solve problems in life sciences, and discover new materials.
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Butterfly Ventures
VC Fund · Oulu, Oulu, Finland · 22 investments in Finland Hardware startups

Butterfly Ventures is a seed-stage focused VC in the Nordics, investing in deep tech, hardware, and hardware interfacing software. The company prefers to get involved with companies early on; 80% of Butterfly Ventures portfolio companies don't have any revenue at the time of their entry. Butterfly Ventures was founded in 2012 and ever since then it has been one of the most active early stage VCs in the region. The company has offices in Oulu, Helsinki and Stockholm.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Finland, Sweden, Norway

Investor stats

  • Total investments: 91
  • Round size: Seed $224k–$2.2M; Pre-Seed $110k–$4.3M; Venture - Series Unknown $1.2M–$6M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: Likely still investing — raised $49M in 2022

Portfolio highlights

  • DREV — DREV is a cleantech company manufacturing contamination control solutions for the world’s most advanced manufacturing facilities.
  • Zenniz — Zenniz is an ITF approved game tracking solution that provides real-time info, such as automated line calling, stroke and serve speeds, shot charts, match statistics and more. Players and coaches at all levels can use Zenniz on and off the court to help improve their game. For tennis clubs, Zenniz is an easy and cost-effective way to upgrade to thenext level. Due to a new, innovative sensor technology, they’ve been able to keep the cost to a minimum, making Zenniz accessible for all clubs, coaches and players.
  • Polar Light Technologies — Polar Light Technologies focuses on developing the next generation of Nano and micro LED technology.
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Business Finland
VC Fund · Helsinki, Southern Finland, Finland · 21 investments in Finland Hardware startups, 15 in the past 12 months

Business Finland finances business R&D projects and public research projects at universities, research institutes and universities of applied sciences. Read more about R&D and business funding.

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Investment focus

  • Industry: Software, SaaS, Biotechnology
  • Stage:Grant, Seed, Debt Financing
  • Geography: Finland, United States, United Kingdom

Investor stats

  • Total investments: 247
  • Round size: Seed $137k–$3.5M; Grant $52k–$6.6M; Debt Financing $252k–$6.5M
  • Lead/follow: 43% lead, 57% follow
  • Last fund: May invest from a new fund soon — last raise in 2017

Portfolio highlights

  • STRGY AI — The strategy was never the problem. The evidence was correct, sitting in someone's hands, and it died anyway because nothing in the organization was built to carry that evidence from where it was seen to where it could be acted on, and keep it alive long enough to matter. Not a bad plan. Not bad people. A structural gap between signal andauthority that every existing tool — decks, dashboards, status meetings — is too static and too easy to ignore to actually close.STRGY exists because that gap is the default state of every organization above a certain size, and closing it has always required either a heroic individual repeating themselves for years or luck (the corporate pilot needed one person to remember "do not drop this" at the right moment, and no one did). That's not a strategy problem to solve with a better framework — it's an infrastructure problem. You need something that holds the signal, doesn't forget it, doesn't get bored repeating it, and resurfaces it automatically the moment the gap between evidence and action starts to widen. That's what a human can't do reliably at scale, and what software with real memory can.
  • Coolbrook — Coolbrook is a manufacturer of naphtha cracking-based reactors. Their technology is intended to replace the conventional steam cracker furnace in existing and new olefins plants, enabling petrochemical clients to get improved product yield and lower energy consumption.
  • Solar Foods — Solar Foods is a food-tech startup that specializes in testing a technology that uses electricity to produce hydrogen which is combined with carbon dioxide, water, vitamins, and minerals to feed and grow microbial biomass that can be used as edible protein. The industrial biotech startup develops a protein called Solein, a nutritious, sustainablesubstitute for animal-derived proteins. Solein is created using elements from the air—CO2, water, nitrogen—and electricity. This single-cell protein is cultivated through gas fermentation, essentially deriving edible calories from hydrogen-oxidizing microbes.
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Finnvera Venture Capital
VC Fund · Kuopio, Eastern Finland, Finland · 19 investments in Finland Hardware startups

Finnvera makes direct investments in early-stage enterprises through Seed Fund Vera Ltd. Finnvera's goal is to cover shortcomings existing on the market between product development funding and private equity investments. Finnvera does not compete with private financiers; instead, it strives to supplement the financial market. Finnvera's investments enable, start and accelerate growth and internationalisation among investment targets. Enterprises are developed to make them attractive targets for further financing by other investors and industrial actors. Investments are made in technology enterprises at an early stage and in technology-intensive or innovative service enterprises that have potential for developing into international growth enterprises. Finnvera is also known as a specialised financing company owned by the State of Finland. It provides its clients with loans, guarantees, venture capital investments and export credit guarantees.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Finland, United States, Chile

Investor stats

  • Total investments: 96
  • Round size: Seed $250k–$2.3M; Series A $1.8M–$23M; Venture - Series Unknown $228k–$11M
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • ARAUCO — ARAUCO is a diversified global company in the forestry industry. They use world-class technologies and processes throughout the value chain. They are present in the forestry, pulp, timber, panels and renewable energy businesses.
  • eMabler — EMabler is an EV charging infrastructure software company that develops an API-first platform used by businesses to operate, manage, and scale electric vehicle charging networks. It provides a centralized system for charge point management, billing, pricing, roaming, and energy optimization, allowing operators to control large networks of EVchargers from a single platform. The software connects charging hardware with business systems such as CRM, payment, and energy management tools through open APIs and a large library of integrations. The company focuses on enabling enterprises, such as energy utilities, parking operators, and retail businesses, to embed EV charging directly into their existing services and digital platforms rather than building standalone charging systems. This includes white-label solutions where charging is integrated into a company’s own app or customer experience under its brand.
  • CHAOS — At CHAOS, we strive to democratize data and harness the power of AI and cutting-edge technology, delivering transformative location insights that empower decision-makers to design more liveable cities- sustainable, human-centered where the quality-of-life soars.
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Tesi
VC Fund · Helsinki, Southern Finland, Finland · 19 investments in Finland Hardware startups

Finnish Industry Investment Ltd is a government-owned investment company. It invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with private co-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings. The investments of Finnish Industry Investment amount to over MEUR 570

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Investment focus

  • Industry: Software, Manufacturing, Information Technology
  • Stage:Series A, Series B
  • Geography: Finland, United States, Switzerland

Investor stats

  • Total investments: 154
  • Round size: Series A $2.4M–$46M; Series B $3.1M–$40M
  • Lead/follow: 16% lead, 84% follow
  • Last fund: May invest from a new fund soon — raised $177M in 2017

Portfolio highlights

  • Vexlum — VECSELs Novel semiconductor lasers for high-impact applications in quantum technology, medicine and semiconductor industry.
  • Verda — Verda provides a full-stack AI cloud platform for the development, training, and deployment of AI models. Its services include GPU instances, instant clusters, serverless containers, managed storage, and other cloud infrastructure powered by NVIDIA hardware. Verda also operates an AI Lab focused on large-scale training, inference optimization, reinforcement learning, and AI systems engineering. Its platform serves AI developers and organizations across the full AI lifecycle, from prototyping to scalable inference.
  • Kasvu Therapeutics — Kasvu develops first and best-in-class small molecule neuroplastogens for diseases where neuronal connectivity is altered
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Superhero Capital
VC Fund · Helsinki, Southern Finland, Finland · 15 investments in Finland Hardware startups, 16 in the past 12 months

Some call you founders. We call you Superheroes. Seed stage VC investing in insight-driven startups in Finland and the Baltics. Tickets 100 K€ - 1000 K€.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: Finland, Lithuania, Estonia

Investor stats

  • Total investments: 105
  • Round size: Seed $228k–$2.6M; Pre-Seed $114k–$1.8M; Venture - Series Unknown $1.6M–$7.3M
  • Lead/follow: 57% lead, 43% follow
  • Last fund: Likely actively investing — fresh fund, raised $41M in 2025

Portfolio highlights

  • KineDB — KineDB develops a dual-purpose database engine capable of operating as an embedded system on mobile devices or clustered within cloud data centers. The technology natively integrates replication, data history tracking, and merge logic to support continuous offline writing and automatic data synchronization upon reconnection. It utilizes a peer-to-peer data balancing architecture to eliminate traditional sharding and replica configuration processes. Every data write is permanent and addressable, providing an built-in audit trail that allows versioning and rollbacks. Additionally, the system writes logs directly to cloud object storage, enabling operational servers to function ephemerally without local state management. KineDB recently closed a cross-border pre-seed investment round with Superhero Capital, NGL and the founders of Formalize. Start-up lawyer Michael Pilegaard from Mace Legal acted as legal counsel to KineDB during the pre-seed investment round.
  • Bilt.me — Describe your app idea and Bilt builds it. Preview on your phone, publish to the App or Play Store when you're ready.
  • Guideless — Guideless turns any browser workflow into a polished, AI-narrated video guide in minutes. No screen recording, no tedious editing. Just turn on our Chrome extension, click through your process as you normally would, and instantly get a share-ready guide.Use cases: Product walkthroughs, customer onboarding, employee training, and supportdocumentation.Key features: - AI-written narration and natural voiceover. - Smart zooms and highlights for clarity. - Built-in captions for accessibility. - Always consistent and on-brand. - Shareable URLs, embed codes, and export to MP4How it works: - Add the Chrome extension. - Capture your workflow. - Share your guide.Privacy built-in: Your guides and data are never used to train AI models and are securely encrypted.Check https://guideless.ai/gallery and get inspired with curated guides showcasing workflows, product demos, and tutorials across every use case.
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Icebreaker.vc
VC Fund · Helsinki, Southern Finland, Finland · 14 investments in Finland Hardware startups

Founded in 2016, Icebreaker has invested in over 50 fast-growing tech startups built by domain expert founders from companies like Rovio, Nordea, Pipedrive, Eniram, IBM and BCG. In addition to the fund, Icebreaker also runs a community of more than 1000 founders and pre-founders with 5+ years of relevant industry experience and the will to start, build or join strong tech companies. With the initial ticket sizes of €150k - 800K Icebreaker provides enough funding for companies to get to a position of strength and avoid post-accelerator limbo without having to resort to disreputable sources of capital and unfriendly deal terms.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Pre-Seed, Seed, Series A
  • Geography: Finland, Sweden, Estonia

Investor stats

  • Total investments: 144
  • Round size: Seed $409k–$5.4M; Pre-Seed $110k–$1.3M; Series A $3.1M–$25M
  • Lead/follow: 56% lead, 44% follow
  • Last fund: May invest from a new fund soon — raised $24M in 2021

Portfolio highlights

  • Cachet — Adaptive insurance solutions for micromobility, car-sharing and gig work platforms in 16 countries. Feel in control of risk and handle claims in one system.
  • Oplane — Connect your repo. See and fix your vulnerabilities in minutes. AI-powered threat modeling - no consultants, no weeks of docs.
  • Cota Robotics — Cota Robotics deploys general-purpose robots in retail stores through a Robot-as-a-Service model, integrating with existing environments without requiring changes to store layouts or infrastructure. The company automates shelf replenishment, inbound handling, and order picking using human-in-the-loop teleoperation, with autonomy increasing asdeployment data trains its models.
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VTT Ventures
VC Fund · Espoo, Southern Finland, Finland · 13 investments in Finland Hardware startups

VTT is a powerhouse of technology development and scientific research. Many of the most significant Finnish technology start-ups were brought to life at VTT. Do you want to invest in ongoing ventures?

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Investment focus

  • Industry: Manufacturing, Biotechnology, Electronics
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Finland

Investor stats

  • Total investments: 24
  • Round size: Seed $460k–$3.3M; Series A $1.8M–$14M; Venture - Series Unknown $1.5M–$9.2M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Dispelix — See-through, full color waveguide combiners for a wide range of XR applications. From near-eye to head-up.
  • Solar Foods — Solar Foods is a food-tech startup that specializes in testing a technology that uses electricity to produce hydrogen which is combined with carbon dioxide, water, vitamins, and minerals to feed and grow microbial biomass that can be used as edible protein. The industrial biotech startup develops a protein called Solein, a nutritious, sustainablesubstitute for animal-derived proteins. Solein is created using elements from the air—CO2, water, nitrogen—and electricity. This single-cell protein is cultivated through gas fermentation, essentially deriving edible calories from hydrogen-oxidizing microbes.
  • Infinited Fiber Company — Infinited Fiber Company is a Finnish biotech founded in 2016 to commercialize a breakthrough recycling technology that can turn cellulose-rich raw materials – like cotton-rich textile waste, used cardboard, or wheat or rice straw – into high-quality textile fibers with the look and feel of cotton. The patented technology has been validated byleading brands and is ready to be scaled. Infinited Fiber Company won the Europas 2020 Hottest Sustainability Tech Award, and was listed on the Global 50 to Watch by Cleantech Group in 2019. In 2016 Infinited Fiber Company was selected into WWF’s Climate Solver network. The company is headquartered in Espoo, Finland.
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Maki.vc
VC Fund · Helsinki, Southern Finland, Finland · 12 investments in Finland Hardware startups

We partner with deep tech and brand-driven companies obsessed in challenging category norms. The Nordics are our home, but we take on a global front in spotting the unexpected - from B2B to B2C, with a sweet spot for scientific advances, strong IP, and customer understanding that looks beyond convention. We invest in early stage companies: from their inception to series A and beyond. We share in the vision of founders as champions and challengers, drawing on our experiences from scaling some of the strongest tech companies ourselves.

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Investment focus

  • Industry: Software, E-Commerce, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Finland, Norway, Denmark

Investor stats

  • Total investments: 104
  • Round size: Seed $948k–$8.3M; Pre-Seed $578k–$2.7M; Series A $3.5M–$37M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely still investing — raised $106M in 2024

Portfolio highlights

  • Aavuus — Aavuus is building a global network of ground-based laser stations to detect and track space debris with high precision.
  • Quanscient — Quanscient develops multiphysics simulation software utilizing quantum computing algorithms to improve simulation technology. Its Computer Aided Engineering (CAE) platform integrates a unique combination of cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The platform also offers engineers over ahundredfold increase in simulation throughput to enable fully digital R&D processes, addressing complex technology challenges in industries like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.
  • Volare — Refining food, beverage and agricultural sidestreams into protein, oil and fertilizers. Sustainable Black Soldier Fly Protein & Oil for Pet Food and Aquafeed from Finland.
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Innovestor
VC Fund · Helsinki, Southern Finland, Finland · 12 investments in Finland Hardware startups

Innovestor is an active Finnish investment manager, focusing on venture capital, real estate, and energy storage. We also offer corporate venturing services.

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Investment focus

  • Industry: Software, Health Care, Information Technology
  • Stage:Seed, Venture - Series Unknown, Pre-Seed
  • Geography: Finland, Sweden, Denmark

Investor stats

  • Total investments: 98
  • Round size: Seed $477k–$4.5M; Pre-Seed $204k–$2M; Venture - Series Unknown $529k–$5.1M
  • Lead/follow: 55% lead, 45% follow
  • Last fund: Likely still investing — raised $33M in 2023

Portfolio highlights

  • Khoy — Khoy Company is a furniture company focused on designing and developing comfortable, user-friendly, and sustainable sofa beds. It combines functionality, comfort, and modern design to create versatile furniture for everyday living, with an emphasis on sustainability and space efficiency.
  • AnaCardio — AnaCardio develops drugs targeting a novel mechanism that improves cardiac contractility and aims to improve clinical outcomes in heart failure.
  • Bahn Express — Bahn Express is a global car transportation company that supports independent contractors while offering quick and easy auto shipping throughout Europe.
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Voima Ventures
VC Fund · Helsinki, Southern Finland, Finland · 11 investments in Finland Hardware startups, 7 in the past 12 months

Voima Ventures’ mission is to solve major global problems by combining science, entrepreneurship, and value adding capital. They shed light on the ideas and technology which require time and courage to build. Industry domains include bio and new materials, medical technologies and life sciences, imaging and optics, IoT and electronics, robotics, software & ICT and AI. In addition, Voima Ventures has invested in more than 30 deep tech startups, including companies like Solar Foods, Infinited Fiber Company, and Dispelix. Cornerstone investors are VTT Technical Research Centre of Finland and European Investment Fund (EIF), backed by Finnish private and institutional investors.

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Investment focus

  • Industry: Biotechnology, Health Care, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Finland, Sweden, Norway

Investor stats

  • Total investments: 62
  • Round size: Seed $1M–$5.9M; Pre-Seed $464k–$2.1M; Series A $3.9M–$30M
  • Lead/follow: 65% lead, 35% follow
  • Last fund: Likely still investing — raised $108M in 2023

Portfolio highlights

  • Reduciner — Reduciner's vision to turn industrial CO₂ emissions from a liability into a valuable resource. Its technology converts captured carbon dioxide and biochar into valuable feedstocks such as carbon monoxide and activated carbon, enabling circular carbon use in emissions-intensive industries. Reduciner combines strong scientific expertise withindustrial applicability across sectors such as cement, steel, and chemicals. Its electricity-driven process allows industries to reduce emissions without major changes to existing infrastructure, offering a resilient and cost-competitive way to reduce carbon dependency while creating new value from CO₂ emissions.
  • TheStorage — Flexible industrial heat electrification and scalable energy storage. TheStorage offers cost efficient, sustainable grid scale energy storage that can discharge heat, steam or CHP.
  • Aventix — Aventix is a bioanalytics/life-science instrumentation company that develops sensor-based laboratory tools.
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Sisu Game Ventures
VC Fund · Helsinki, Southern Finland, Finland · 8 investments in Finland Hardware startups

Sisu Game Ventures is an early-stage venture capital fund focused 100% on games. We set up shop in 2014 to support the most promising founders in the industry. Sisu has deep roots in the Nordic region, but our network of founders is fully global.The Sisu team consists of Samuli, Paul, Erik, Kalle, Moaffak, Kadri, and Jere - all of whom haveextensive backgrounds in the game industry and startup circles, both as entrepreneurs and investors. We've founded and built sixteen game companies since the early 90s and had several successful exits. Apart from funding companies, the team uses their expertise to act as a studio builder. Individual founders are supported in building their team, honing their product strategy and in gathering the right group of investors.

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Investment focus

  • Industry: Gaming, Video Games, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Finland, United States, France

Investor stats

  • Total investments: 59
  • Round size: Seed $564k–$4.6M; Pre-Seed $112k–$1.2M; Series A $6.3M–$38M
  • Lead/follow: 20% lead, 80% follow
  • Last fund: May invest from a new fund soon — raised $50M in 2021

Portfolio highlights

  • Torpor Games — Torpor Games is a thought-provoking indie video game company based in Berlin. Torpor is currently working on Suzerain and The Conformist set in the same universe.
  • Kinoa Labs — A real-time, AI-powered platform to engage, retain, and monetize mobile game users - launched and updated live, without waiting on development.
  • Antihero Studios — MISFITZ is a social extraction game. Team up, loot Relics, extract or lose it all. By ex-Clash Royale, Brawl Stars and Candy Crush devs. Coming free to iOS & Android.
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Conor Venture Partners
VC Fund · Espoo, Southern Finland, Finland · 7 investments in Finland Hardware startups

Conor Venture Partners is a new breed technology venture capital fund and management company. Conor invests in early-stage companies originating from Nordic and Baltic countries. Investment areas include information and communications technology, embedded software, semiconductor technology, electronics, new materials and optics.

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Investment focus

  • Industry: Software, Analytics, Semiconductor
  • Stage:Series A, Series B, Seed
  • Geography: Finland, United States, Sweden

Investor stats

  • Total investments: 49
  • Round size: Seed $1.1M–$3.3M; Series A $3.9M–$11M; Series B $2.5M–$18M
  • Lead/follow: 31% lead, 69% follow
  • Last fund: May invest from a new fund soon — raised $60M in 2010

Portfolio highlights

  • TactoTek — Set your imagination free and create user experiences with the help of sustainable smart molded structures.
  • crystalsol — COLOKSGP hadir sebagai platform agen slot online terpercaya di Indonesia yang mengutamakan kenyamanan, kepraktisan, dan keamanan para penggunanya. Dengan tampilan website yang ringan dan ultra-responsif, kamu bisa menikmati seluruh permainan dengan mulus dari ponsel maupun komputer.
  • Aito Technologies — We are a world leader in Customer Experience Analytics for mobile operators. Aito provides better understanding and management the entire customer life cycle helping them identify key relationships and the context between business drivers, customer segments, networks, services, and devices, throughout the customer life cycle.
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First Fellow Partners
VC Fund · Helsinki, Southern Finland, Finland · 7 investments in Finland Hardware startups

First Fellow Partners is a private investment firm built on a founder-first philosophy. We invest only our own capital, backing bold, mission-driven technology entrepreneurs from idea to lasting impact.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Finland, United States, Sweden

Investor stats

  • Total investments: 78
  • Round size: Seed $500k–$8M; Pre-Seed $256k–$1.7M; Series A $2.3M–$26M
  • Lead/follow: 23% lead, 77% follow

Portfolio highlights

  • CRACI — CRACI records build dependencies, identifies releases affected by vulnerabilities, and tracks the response from triage to a fixed release.
  • Endform — Run your Playwright tests 10x faster across isolated machines. Catch failures before they reach production and stop flaky tests from slowing your team down.
  • Quanscient — Quanscient develops multiphysics simulation software utilizing quantum computing algorithms to improve simulation technology. Its Computer Aided Engineering (CAE) platform integrates a unique combination of cloud-native multiphysics solvers, advanced cloud computing, and future quantum integration. The platform also offers engineers over ahundredfold increase in simulation throughput to enable fully digital R&D processes, addressing complex technology challenges in industries like fusion energy, 6G/7G, advanced semiconductors, biomedical, automotive, and aerospace.
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Reaktor Ventures
VC Fund · Helsinki, Southern Finland, Finland · 7 investments in Finland Hardware startups

Reaktor Ventures they invest in seed stage companies and helps them to create markets.

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Investment focus

  • Industry: Software, Internet, E-Commerce
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Finland, Germany, United States

Investor stats

  • Total investments: 60
  • Round size: Seed $151k–$2.1M; Pre-Seed $158k–$1.8M; Series A $1.7M–$6.8M
  • Lead/follow: 13% lead, 87% follow

Portfolio highlights

  • Valpas — Valpas is the hygiene protocol that reassures your future guests and keeps your hotel clean from the most uncontrollable: bed bugs
  • allies.digital — Allies is a match-making platform curating businesses with IT-, digital and creative agencies. No more miss-matches when buying IT & creative services.
  • StarBerry Games — StarBerry Games GmbH is a mobile games company based in Berlin, Germany. The company develops free-to-play casual mobile games and is best known for its games Merge Mayor and Idle Coffee Corp.
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Redstone.VC
VC Fund · Berlin, Berlin, Germany · 6 investments in Finland Hardware startups, 19 in the past 12 months

The Redstone team is an international and diverse group of serial entrepreneurs, investors, investment professionals, tech analysts and data scientists.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Germany, Finland, Switzerland

Investor stats

  • Total investments: 179
  • Round size: Seed $460k–$7.8M; Pre-Seed $1M–$4.4M; Series A $1.7M–$17M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: Likely actively investing — fresh fund, raised $29M in 2026

Portfolio highlights

  • FermLabs — Ferm Labs ingredient startup specializing in proprietary, high-yield bioprocessing platforms.
  • LimX Dynamics — Zhuji Dynamics is a general-purpose footed robot company that focuses on the R&D and manufacturing of sports intelligence and footed robots
  • Zhuji Dynamics — Zhuji Dynamics is a general-purpose footed robot company that focuses on the R&D and manufacturing of sports intelligence and footed robots
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OP Financial Group
VC Fund · Helsinki, Southern Finland, Finland · 5 investments in Finland Hardware startups

OP Financial Group is one of the largest financial companies in Finland. It consists of 180 cooperative banks and their central organization. The financial group has over 1.4 million customer-owners

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Investment focus

  • Industry: Energy, Renewable Energy, FinTech
  • Stage:Debt Financing, Post-IPO Debt, Series A
  • Geography: Finland, France, Sweden

Investor stats

  • Total investments: 18
  • Round size: Series A $16M–$29M; Post-IPO Debt $46M–$3.2B; Debt Financing $39k–$540M
  • Lead/follow: 6% lead, 94% follow

Portfolio highlights

  • Fortum — By providing our customers and the Nordic energy system with a supply of reliable energy, we aim to power a world where people, businesses, and nature thrive together. With respect for the environment, decades of expertise and smart solutions, we strive to meet our customers' needs.
  • Qivalis — Qivalis is a financial technology company designed for payments, settlements, and financial services.
  • Srv Yhtiot — SRV is a Finnish construction company known for lifecycle-wise construction, responsible operations and strong client collaboration. Discover our services, expertise and key projects.
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Nordic Option
VC Fund · Oulu, Oulu, Finland · 5 investments in Finland Hardware startups

Nordic Option is a private equity fund focusing its investments on growth companies. It provides capital investments in small and medium-sized growth companies that have already established themselves in Northern Finland. The fund's investment strategy includes the possibility to make up to 5 early-stage growth investments with one millioneuros.The firm's value of investments in portfolio companies is approximately EUR 10 million and the value of loans granted is approximately EUR 1 million.

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Investment focus

  • Industry: Manufacturing, Software, Electronics
  • Stage:Private Equity, Venture - Series Unknown, Seed
  • Geography: Finland

Investor stats

  • Total investments: 17
  • Round size: Venture - Series Unknown $1.1M–$10M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Haltian — From Occupancy Analytics and Product Development Services to our broader smart-facility capabilities, our references reflect the same strength: we listen
  • Profilence — Profilence Technical Quality Analysis for Android, Linux and iOS devices and Enterprise applications
  • Brightplus Oy — Brightplus is an innovative renewable materials manufacturing company from Finland. We specialise in design and development of new functional properties for industrial biomaterial solutions. We cater for industries like packaging, construction, cosmetics and consumer goods. Our expertise is based on developing solutions to multiple industries andproviding fast prototyping and full fit for customers’ production lines. Our deep chemical BrightBio® technology creates an optimal fit between coatings, barriers and plastic replacing materials to help you in raising your material functionality to the next level.
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Visionplus
VC Fund · Helsinki, Southern Finland, Finland · 5 investments in Finland Hardware startups

WE HELP YOU TO GROW FASTER!

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Investment focus

  • Industry: Software, Information Technology, Internet
  • Stage:Seed, Venture - Series Unknown, Series A
  • Geography: Finland, United States, United Kingdom

Investor stats

  • Total investments: 76
  • Round size: Seed $87k–$1.3M; Series A $2M–$14M; Venture - Series Unknown $100k–$4M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • Pebble — Meet Pebble Flow: a 100% electric RV with active towing, auto-hitching and infinite off-grid power via our Extended Solar upgrade. Reserve now.
  • LiveMusicStage — We're a live music venue online. We let you to actually take part in the shows and interact with the bands while they're playing. You're always in the front row
  • BetterDoctor — Our provider network software solutions & services provide unmatched tools & insights for you. Discover how you can measure, manage, monitor & model.
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822 industries, 177 countries. Updated daily. Emails and phones included.

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VNT Management
VC Fund · Vaasa, Western Finland, Finland · 5 investments in Finland Hardware startups

VNT Management is a venture capital management company that offers its services to investors and entrepreneurs. The company offers investors with 3 venture capital funds, all of which focus on clean technology. Furthermore, it offers an IRR of 25% and a position in the top quartile of European venture capital funds. Entrepreneurs are offered with supply management, business idea, application, and product concept development, and technology scanning and evaluation services. VNT Management was founded in 2002 and is based in Finland.

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Investment focus

  • Industry: Energy, Manufacturing, Electronics
  • Stage:Seed, Venture - Series Unknown, Series B
  • Geography: Finland, Germany, Switzerland

Investor stats

  • Total investments: 17
  • Round size: Seed $2.7M–$3.2M; Series B $3.3M–$13M; Venture - Series Unknown $1.4M–$3.3M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $103M in 2011

Portfolio highlights

  • DEPsys — Our advanced smart grid solutions and insights empower electricity DSOs and simplify their journeys through the energy transition.
  • Visedo — Danfoss Editron specializes in hybrid and electric powertrain systems for off-highway and marine markets.
  • Norsepower Oy — Norsepower Rotor Sails | Wind Propulsion
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Varma Mutual Pension Insurance Company
VC Fund · Helsinki, Southern Finland, Finland · 4 investments in Finland Hardware startups

Varma Mutual Pension Insurance Company operates as a pension insurance company in Finland. It provides pension insurance services, including insurance and pension services, vocational rehabilitation, insurance contribution estimates, and calculations. The company also provides training and guidance related to well-being at work and to social security while working abroad. In addition, Varma's additional services include online services; client financing services for pension foundations and funds; and advisory services for insured employees and entrepreneurs. The company was founded as Varma-Sampo Mutual Pension Insurance Company in 1998 and changed its name to Varma Mutual Pension Insurance Company in December 2003. Varma Mutual Pension Insurance Company is headquartered in Helsinki, Finland.

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Investment focus

  • Industry: Software, Information Technology, Hardware
  • Stage:Series A, Series B, Venture - Series Unknown
  • Geography: Finland, United Kingdom

Investor stats

  • Total investments: 15
  • Round size: Series A $53M–$131M; Series B $189M–$320M; Venture - Series Unknown $8.2M–$117M
  • Lead/follow: 20% lead, 80% follow

Portfolio highlights

  • ICEYE — Gain access to timely and reliable SAR imaging from the world's leading New Space SAR satellite constellation.
  • Verda — Verda provides a full-stack AI cloud platform for the development, training, and deployment of AI models. Its services include GPU instances, instant clusters, serverless containers, managed storage, and other cloud infrastructure powered by NVIDIA hardware. Verda also operates an AI Lab focused on large-scale training, inference optimization, reinforcement learning, and AI systems engineering. Its platform serves AI developers and organizations across the full AI lifecycle, from prototyping to scalable inference.
  • Verda (formerly DataCrunch) — DataCrunch is a cloud service provider which facilitates utilization and integration of state of the art AI/ML models
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Vito Ventures
VC Fund · Munich, Bayern, Germany · 4 investments in Finland Hardware startups

Die Digitalisierung stellt uns vor neue Herausforderungen, denen wir mutig begegnen. Mit VC/O gestalten wir die Zukunft mit und investieren in sie.

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Investment focus

  • Industry: Software, Information Technology, Internet of Things
  • Stage:Series A, Seed, Venture - Series Unknown
  • Geography: Germany, Finland, United States

Investor stats

  • Total investments: 25
  • Round size: Seed $2M–$13M; Series A $1.7M–$46M; Venture - Series Unknown $1.5M–$5.1M
  • Lead/follow: 28% lead, 72% follow

Portfolio highlights

  • IQM Quantum Computers — IQM is the leading European quantum hardware company in superconducting circuits. We build quantum computers.
  • Wirepas — Wirepas offers a standards-based, ultra-reliable mesh connectivity for infrastructure-grade IoT. Proven in millions of devices worldwide.
  • CrateDB — CrateDB is the leading open-source, distributed SQL database, empowering customers to turn data into business value
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ETF Partners
VC Fund · London, England, United Kingdom · 4 investments in Finland Hardware startups

ETF Partners supports talented entrepreneurs and management teams with investment capital and experience. Its funds come from institutional investors, global corporations, and family offices. The firm creates value by investing in and supporting great European companies that deliver Sustainability Through Innovation.

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Investment focus

  • Industry: Software, Renewable Energy, Information Technology
  • Stage:Series A, Series B, Venture - Series Unknown
  • Geography: United Kingdom, France, Germany

Investor stats

  • Total investments: 102
  • Round size: Series A $4.3M–$16M; Series B $5.9M–$33M; Venture - Series Unknown $3.5M–$30M
  • Lead/follow: 47% lead, 53% follow
  • Last fund: Likely still investing — raised $309M in 2024

Portfolio highlights

  • QuantWare — QuantWare designs, develops and fabricates state-of-the-art superconducting Quantum Hardware with excellent specs, and good service.
  • Open Cosmos — Open Cosmos design, build and operate space missions, providing straightforward access to high quality satellite data and insights on a global scale.
  • Amber Electric — Join the smart energy revolution. Amber Electric is a new way to buy electricity. Unlike traditional retailers, we pass through the real-time wholesale price, helping you save money and use more renewable power.
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True Ventures
VC Fund · Palo Alto, California, United States · 4 investments in Finland Hardware startups

True Ventures leads pre-seed and seed rounds for founders shaping their product, defining their market, and building their team. First institutional conviction, backed by experience since 2005.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United States, United Kingdom, Canada

Investor stats

  • Total investments: 789
  • Round size: Seed $1.1M–$9M; Series A $2M–$25M; Series B $4.3M–$47M
  • Lead/follow: 36% lead, 64% follow
  • Last fund: Likely still investing — raised $885M in 2022

Portfolio highlights

  • SaveUp — SaveUp is the first free rewards program for saving money and reducing debt. Users earn SaveUp credits for every dollar saved or debt reduced and can use these credits to play for prizes ranging from travel, cars to even a $2M jackpot. While using SaveUp users are provided financial education, suggestions to improve their financial circumstancesand better financial services. SaveUp can be used with 18,000 financial institutions in the US including rewards for savings accounts, 401k, IRA, or reducing debts like credit cards, car loans, student loans and mortgages.
  • Smarterer — Individuals and Fortune 500 companies use Smarterer to help close the gap between the skills they have and the skills they need. Their dynamic assessment engine leverages the freshest crowdsourced tests around, to rapidly pinpoint skill level with a credible score. In November 2014, Pluralsight, the global leader in online learning for serioussoftware developers, IT specialists and creative technologists, acquired Smarterer. As the world's largest curated e-learning library for professionals, the company offers instant access to more than 3,500 courses authored by top experts. Smarterer will continue to power crowdsourced assessments for freelancer marketplaces, e-learning providers and enterprise companies anywhere people need to prove their skills to connect with professional opportunities. The Smarterer community has answered over 56 million during 1.7 million test sessions, across hundreds of tests.
  • Diligent Robotics — We build robots like Moxi that assist hospital staff with routine activities so they can focus on caring for patients.
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Summit Partners
VC Fund · Boston, Massachusetts, United States · 4 investments in Finland Hardware startups, 12 in the past 12 months

Summit Partners is a global alternative investment firm that invests in growth equity, fixed income and public equity opportunities in technology, healthcare and other growth sectors.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Private Equity, Series B, Venture - Series Unknown
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 271
  • Round size: Series B $15M–$140M; Private Equity $25M–$290M; Venture - Series Unknown $4.8M–$130M
  • Lead/follow: 67% lead, 33% follow
  • Last fund: Likely still investing — raised $9.5B in 2024

Portfolio highlights

  • Socure — Identity Starts Here. Accurately verify & onboard more new customers with Socure, the leading provider of digital identity verification & fraud solutions.
  • Cognitive Credit — Cognitive Credit - Advancing technology for credit investors
  • Keyfactor — Keyfactor helps organizations secure machine identities, cryptography, and AI systems with trust infrastructure that enables digital trust, crypto-agility, and quantum readiness.
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Seraphim Space
VC Fund · London, England, United Kingdom · 4 investments in Finland Hardware startups

Seraphim Capital is dedicated to financing the growth of companies operating in the space ecosystem. They are an ambitious team with a wide variety of backgrounds and experiences in Venture. Collectively they have over 100 years’ experience, investing in over 180 early and growth stage businesses, returning more than £750 million to their shareholders. They are also fortunate to have one of the world's leading entrepreneurs and experts in Earth Observation on board. They work closely with their portfolio companies and always strive to create meaningful value and endeavour to ensure that the full value of their network and partners is utilised. The backing of leading global corporates in the Space sector and the leading Space related Governmental Agencies in the UK and Europe brings significant value. They are able to leverage their capital, industry leading knowledge and networks, creating an ecosystem that delivers real results for your business. From roots to market, sales and marketing, partnerships, follow-on capital, and M&A they can deliver value creation across the company growth cycle globally.

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Investment focus

  • Industry: Aerospace, Software, Information Technology
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: United Kingdom, United States, Canada

Investor stats

  • Total investments: 227
  • Round size: Seed $1.4M–$10M; Pre-Seed $70k–$2.1M; Venture - Series Unknown $250k–$25M
  • Lead/follow: 33% lead, 67% follow
  • Last fund: Likely actively investing — fresh fund, raised $100M in 2026

Portfolio highlights

  • Skylo — Never lose coverage again - connect your existing NB-IoT devices directly over both cellular and satellite networks seamlessly
  • aXenic — aXenic are leaders in optical modulators for satellite and aerospace communications.
  • MP Space — MP Space develops and manufactures spacecraft power systems for satellite constellation operators. Its products include integrated lithium-ion battery packs, battery management systems, power converters, and configurable electrical power subsystem components. The company provides hardware designed for spacecraft integration, including Pack2 battery platforms with embedded protection, heaters, inhibits, and CAN interfaces, as well as customizable BMS configurations.
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OpenOcean
VC Fund · Helsinki, Southern Finland, Finland · 4 investments in Finland Hardware startups

OpenOcean is an early-stage venture capital firm investing in B2B software across Europe with offices in London & Helsinki.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: Finland, United States, Germany

Investor stats

  • Total investments: 102
  • Round size: Seed $2.8M–$13M; Series A $2.3M–$22M; Series B $7.3M–$30M
  • Lead/follow: 40% lead, 60% follow
  • Last fund: May invest from a new fund soon — raised $142M in 2021

Portfolio highlights

  • Ubitium — Ubiquitous computing, universal RISC-V microprocessor
  • Arbio — Arbio is transforming the property management landscape for alternative accommodations by leveraging advanced AI technology. Our solutions drive higher revenue, increased profitability, and superior operational efficiency - setting a new industry benchmark.By combining data-driven insights with seamless automation, we optimize every aspect ofproperty performance, enhancing both owner returns and guest satisfaction.With a vision to redefine how properties are managed and monetized, Arbio is paving the way for a more efficient, profitable, and scalable future in the alternative accommodations market.
  • Sitegeist — Sitegeist Robotics develops autonomous, modular construction robots to automate dangerous tasks like hydrodemolition, sandblasting, and drilling, boosting productivity and addressing labor shortages.Sitegeist Robotics primarily serves the construction industry, focusing on infrastructure renovation and building site operations.
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Wave Ventures
VC Fund · Helsinki, Southern Finland, Finland · 4 investments in Finland Hardware startups

Founded in 2016, Wave Ventures is the largest student-run VC in Europe, backed by Nordic unicorn founders, investing in Gen Z entrepreneurs at the earliest stage. We operate both from Finland and Sweden with a team of five people from the top universities in the region.

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Investment focus

  • Industry: Software, Information Technology, Internet
  • Stage:Pre-Seed, Seed, Venture - Series Unknown
  • Geography: Finland, Sweden, Germany

Investor stats

  • Total investments: 40
  • Round size: Seed $329k–$2.1M; Pre-Seed $183k–$4M; Venture - Series Unknown $675k–$1M
  • Lead/follow: 10% lead, 90% follow
  • Last fund: Likely actively investing — fresh fund, raised $12M in 2026

Portfolio highlights

  • CYBRET AI — Continuous Black, Grey, and White box pentesting. Cover authorized targets, prove exploitable findings with replay evidence, and ship the fix.
  • Fluencify — Fluencify is an innovative creator marketing platform that runs end to end user generated content programs for global brands. The software powered solution enforces brand quality guidelines, handles global creator payments, and provides contracted view guarantees to turn influencer marketing into a scalable utility framework.
  • Solace Care — Legacy planning and guided loss support in one digital platform, offered through insurers and employers across the Nordics and the Netherlands.
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FOV Ventures
VC Fund · London, England, United Kingdom · 3 investments in Finland Hardware startups

FOV Ventures invests in early-stage European companies across Spatial Computing, AI, 3D, and Robotics.

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Investment focus

  • Industry: Software, Gaming, 3D Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Finland, United Kingdom, Germany

Investor stats

  • Total investments: 38
  • Round size: Seed $1.9M–$11M; Pre-Seed $333k–$4.2M; Series A $8.2M–$37M
  • Lead/follow: 21% lead, 79% follow
  • Last fund: Likely still investing — raised $22M in 2022

Portfolio highlights

  • IXI — Discover adaptive glasses with autofocus lenses that adjust to your viewing needs, providing seamless clarity at any distance.
  • Spogen.ai — The next-generation CCMS for machinery, ready on day one. One source for manuals and AI assistants, improved by every question from the field.
  • IXI — Discover adaptive glasses with autofocus lenses that adjust to your viewing needs, providing seamless clarity at any distance.
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Leaguer Venture Capital
VC Fund · Shenzhen, Guangdong, China · 3 investments in Finland Hardware startups

Shenzhen Leaguer Venture Capital Co., Ltd. is a high-tech venture capital company founded by Research Institute of Tsinghua University in Shenzhen (RITS) in August 1999. Its current registered capital is RMB 333.3333 million, managing assets amounted to RMB 1.5 billion. With solid capital strength, rich experience of investment and flexiblemechanism, Leaguer VC has invested more than 50 portfolio companies, ranging from IT, new material, medicine, electronics to optomechatronics and hi-tech incubators, etc. The average IRR for the current investments exceeds 30%. Leaguer VC has successfully finished its fund-raising of RMB 160 million in 2009 and set up fund management companies and venture capital companies located in Changzhou and Wuxi.

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Investment focus

  • Industry: Manufacturing, Advanced Materials, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: China, United States, Finland

Investor stats

  • Total investments: 36
  • Lead/follow: no public data

Portfolio highlights

  • Wuwen Zhike — Wuwen Zhixing is an intelligent driving service provider dedicated to offering professional and cutting-edge integrated solutions for AI data and simulation verification, as well as developing AI data infrastructure and accelerators.
  • Lingxin Qiaoshou — Lingxin Qiaoshou focuses on the research and development and production of embodied intelligent platforms with "dexterous hands + cloud-based intelligent brain" as the core.
  • Qiu Shui Semiconductor — Qiu Shui Semiconductor is a semiconductor company that specialized on Micro-LED display technology.Qiu Shui Semiconductor's core products are Micro-LED micro display chips and modules, which are widely utilized in digital car lighting, micro projection, and augmented reality displays.
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Brighteye Ventures
VC Fund · Paris, Ile-de-France, France · 3 investments in Finland Hardware startups, 6 in the past 12 months

Brighteye Ventures is the first and largest vertical EdTech Venture Capital firm in Europe. If you are an entrepreneur using technology to reinvent learning and education, we want to hear from you!

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Investment focus

  • Industry: Education, Software, E-Learning
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United Kingdom, France, Spain

Investor stats

  • Total investments: 65
  • Round size: Seed $1.3M–$7.5M; Pre-Seed $541k–$2.2M; Series A $3.5M–$20M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: May invest from a new fund soon — raised $117M in 2020

Portfolio highlights

  • sAInaptic — sAInaptic is an educational technology company that provides AI-based auto-marking, instant feedback, analytics, and assessment tools.
  • Coachbetter — Football drills for kids, youth and pro teams in one platform. Coachbetter is your digital assistant coach. Manage football trainings, matches, teams and your club.
  • sherpa — AI agents that run your external workforce end-to-end, autonomously and far beyond your MSP and VMS.
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European Investment Bank
VC Fund · Luxembourg, Luxembourg, Luxembourg · 3 investments in Finland Hardware startups

European Investment Bank operates as the lending institution of the European Union, offering loans, guarantees, and technical expertise to governments, businesses, and financial institutions. The organization focuses on areas such as climate action, digital transformation, housing development, and security-related initiatives. Its activities include funding large-scale infrastructure, supporting technology development, and facilitating access to capital for emerging and established enterprises. The bank also delivers advisory support to structure projects, improve investment readiness, and align initiatives with policy objectives.

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Investment focus

  • Industry: Energy, Biotechnology, Health Care
  • Stage:Debt Financing, Post-IPO Debt, Venture - Series Unknown
  • Geography: France, Germany, Spain

Investor stats

  • Total investments: 608
  • Round size: Post-IPO Debt $16M–$587M; Debt Financing $16M–$355M; Venture - Series Unknown $8.7M–$110M
  • Lead/follow: 82% lead, 18% follow

Portfolio highlights

  • Impress — Impress – is European leading digital orthodontic DSO of new generationWe have a defensible model with the personal touch of an in-house orthodontist, true clinical expertise, and engaging directly with consumersImpress was founded in 2019 in Barcelona with the idea of combining the best of orthodontic tradition with the most innovativetechnology in the sector. From the very beginning the vision of the Impress founders was to introduce a different business model with a strong focus on medical experience and digitalization. The company is transforming the oral healthcare industry by developing its own chain of orthodontic clinics, which are characterized by their disruptive design and modern patient experience. The founders decided to build a medical company with the personal touch of in-house orthodontists, face-to-face care, and unique clinical expertise, where the proper implementation of business processes and digitalization are at the core.In less than 2 years, Impress has managed to position itself as the European leader in the orthodontic sector, has treated more than 22.000 smiles and already has a presence in more than 80 European cities. Its innovation and quality have earned it recognition from Sifted as one of the fastest growing HealthTech companies in Europe in 2020.
  • Santander Brasil — Banco Santander in Brazil, its largest division in Latin America and one of the world's most important, accounting for 50%.
  • Dandara Solar Power SAE — Dandara Solar Power SAE is a special purpose vehicle, established to develop a major renewable energy and storage project in Upper Egypt. The entity oversees the development and operational construction of a 500 MW solar PV plant integrated with a 100 MWh Battery Energy Storage System. All electricity generated by the company is bound to be sold to the industrial manufacturer Misr Aluminum Company under a long term, take or pay power purchase agreement.
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Supercell
VC Fund · Helsinki, Southern Finland, Finland · 3 investments in Finland Hardware startups

Visit Supercell.com and find out more about us and our games.

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Investment focus

  • Industry: Gaming, Video Games, PC Games
  • Stage:Seed, Series A
  • Geography: Finland, United States, United Kingdom

Investor stats

  • Total investments: 36
  • Round size: Seed $425k–$4.3M; Series A $4.3M–$26M
  • Lead/follow: 61% lead, 39% follow

Portfolio highlights

  • 2UP Games — We make co-op mobile games that connect friends, family and strangers. We're backed by Supercell. We're hiring!
  • Applivery — Best-in-class Device Management Solution, easy-to-use admin experience in a cloud-based platform, made for Android and Apple devices. A secure MDM used by governments and enterprises.
  • Redemption Games — Our studio is built on the principle of blending great artistry and design with top-notch research and data to produce games that are both beautifully created and have blockbuster market potential.
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Centre for Economic Development, Transport and the Environment
VC Fund · Joensuu, Eastern Finland, Finland · 3 investments in Finland Hardware startups

The Centres for Economic Development, Transport and the Environment (ELY Centres) are responsible for the regional implementation and development tasks of the central government. Finland has a total of 15 ELY Centres, which are tasked with promoting regional competitiveness, well-being and sustainable development and curbing climate change. ELY Centres have three areas of responsibility: - Business and industry, labour force, competence and cultural activities. - Transport and infrastructure. - Environment and natural resources.

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Investment focus

  • Industry: SaaS, Software, FinTech
  • Stage:Grant, Seed
  • Geography: Finland

Investor stats

  • Total investments: 7
  • Round size: Grant $34k–$7.4M
  • Lead/follow: 14% lead, 86% follow

Portfolio highlights

  • AISTI — AISTI develops wood fiber-based acoustic tiles that are carbon negative, easy to recycle and plastic-free – bringing sustainability to construction tile by tile.
  • Redkik Inc. — Innovative embedded technology for the logistics industry enabling instant transactional insurance quotation for convenience and flexibility.
  • Palofy Analytics Oy — Palofy Analytics was a customer loyalty partner for SMEs and NGOs. We are developing analysis and forecasting tools that help merchants to get more sales and predict staffing needs. This also enables getting accurate analysis and predictions on channel, store, product group, or product level.Our licensed technology leverages existing paymentcards as customer loyalty cards, reducing customer friction and removing work overhead from staff. We also help NGOs use portable contactless donation devices and onboard them acquirers.Service areas: • Restaurant and hospitality • Retail • Non-government organizations
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PROfounders Capital
VC Fund · London, England, United Kingdom · 3 investments in Finland Hardware startups

We are PROfounders. We are the proactive European early-stage venture fund.

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Investment focus

  • Industry: Software, SaaS, Apps
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, Finland

Investor stats

  • Total investments: 96
  • Round size: Seed $1.3M–$7.2M; Series A $3M–$13M; Series B $3.3M–$60M
  • Lead/follow: 32% lead, 68% follow
  • Last fund: Likely still investing — raised $87M in 2023

Portfolio highlights

  • Pandektes — Search, verify, and rely on the law. Pandektes vast database combined with industry-leading search means more firepower in every legal analysis.
  • Kinfolk — Resolve 70% of employee requests, run lifecycle programs on autopilot, gain visibility into service delivery and unlock capacity to scale Workforce Ops.
  • Backbone — AI platform for food & beverage quality teams. Connects standards, audits, supplier data, and customer requirements into one live picture. Automates the admin. Routes the right intelligence to the right person. Faster decisions, fewer blind spots.
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Everywhere Ventures
VC Fund · New York, New York, United States · 3 investments in Finland Hardware startups

Everywhere Ventures is a global pre-seed venture capital fund for founders, by founders. Click to read Everywhere VC, by Everywhere Ventures, a Substack publication with tens of thousands of subscribers.

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Investment focus

  • Industry: Software, Health Care, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United States, United Kingdom, Australia

Investor stats

  • Total investments: 1308
  • Round size: Seed $1M–$6.5M; Pre-Seed $250k–$2.5M; Series A $6M–$20M
  • Lead/follow: 2% lead, 98% follow
  • Last fund: Likely actively investing — fresh fund, raised $4.4M in 2026

Portfolio highlights

  • Donna — Meet Donna, the AI assistant built for field sales teams. Save time, cut admin, and close more deals with less effort.
  • Netsec — Professional cybersecurity and managed IT services to protect your business 24/7.
  • Electric Plant Company — We are a plant intelligence company transforming plant care today and accelerating the techno-biophillic future of tomorrow.
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Initial Capital
VC Fund · London, England, United Kingdom · 3 investments in Finland Hardware startups

Initial Capital is an investor in seed and early-stage technology companies with a focus on games, consumer services and technology enablers. They are not a traditional VC fund - they are a group of serial entrepreneurs who invest their own money and actively partner with world class teams to build global category winners. Based out of London and Silicon Valley, they have played a key part in growing companies. Early stage fund raising is not just about money. It's about finding the best team around you to help with the ups and downs of the business and get ongoing advice on everything from product and tech to recruitment and growth. They know because they have been there.

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Investment focus

  • Industry: Gaming, Mobile, Software
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United Kingdom, United States, Finland

Investor stats

  • Total investments: 99
  • Round size: Seed $975k–$4.1M; Pre-Seed $575k–$1.3M; Series A $1M–$12M
  • Lead/follow: 26% lead, 74% follow

Portfolio highlights

  • Saf.money — One API to move money across Central America using Bitcoin, stablecoins, and local banking rails.
  • Space Ape — Visit Supercell.com and find out more about us and our games.
  • Antidote — London-based startup studio for Bitcoin founders
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Nordic Foodtech VC
VC Fund · Helsinki, Southern Finland, Finland · 3 investments in Finland Hardware startups

We are investing in #FutureFood. Nordic FoodTech VC is the first fund in the Nordics investing explicitly in the future of food

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Investment focus

  • Industry: Biotechnology, Food and Beverage, Life Science
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Finland, Denmark, Sweden

Investor stats

  • Total investments: 32
  • Round size: Seed $610k–$5.6M; Pre-Seed $880k–$1.9M; Series A $6.8M–$18M
  • Lead/follow: 59% lead, 41% follow
  • Last fund: Likely actively investing — fresh fund, raised $42M in 2024

Portfolio highlights

  • OlsAro — OlsAro produces salt-tolerant crops.
  • MÖ Foods — MÖ Kaurajogu is domestic, completely herbal and above all delicious. All our products are manufactured in Central Ostrobothnia, Lohtaja.
  • AquaNab Solutions — AquaNab is a biotechnology startup developing precision immunotherapies for aquaculture. The company's core platform uses alpaca-derived nanoantibodies (called AquaNabs) formulated directly into fish feed. This approach allows the therapeutic molecules to cross the fish's intestinal barrier and target pathogens from the bloodstream.
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S & S Sivonen Oy - Sami Sivonen
VC Fund · 2 investments in Finland Hardware startups

Supercar racingteam owner

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Investment focus

  • Industry: B2B, Video, Database
  • Stage:Seed
  • Geography: Finland

Investor stats

  • Total investments: 2
  • Round size: Seed $165k–$3.3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Grumblo — Welcome to the Grumblo Shop! We offer motorsport fans automotive-themed merch and other accessories. Shop now and become a part of the Grumblo community!
  • Delta Cygni Labs — Ensure Operational Resiliency
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Innovations Kapital
VC Fund · Göteborg, Vastra Gotaland, Sweden · 2 investments in Finland Hardware startups

InnovationsKapital was founded in 1994 and is a leading independent venture capital firm for innovative growth companies in the Nordic region. The business, carried out from offices in and Stockholm, Gothenburg and New York, is focused on investments within ICT and Healthcare & Life Sciences, dynamic sectors that are rapidly expanding and whereNordic research plays an important role. The capital is provided by highly reputable Swedish and international institutional investors.

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Investment focus

  • Industry: Biotechnology, Health Care, Software
  • Stage:Series B, Series C
  • Geography: Sweden, Denmark, United States

Investor stats

  • Total investments: 19
  • Round size: Series B $5.6M–$30M; Series C $5.5M–$15M
  • Lead/follow: 11% lead, 89% follow

Portfolio highlights

  • Silecs — PiBond manufactures materials used in electronic devices, including patterning materials for semiconductors and optical materials. We also develop complete solutions that allow our clients to focus on creating innovative products.
  • SantoSolve — SantoSolve is developing topical analgesic products based on non-radioactive strontium as the active substance. The Development program was initiated based on experimental clinical use of strontium-based products showing evidence of strong local analgesic effects on several localized pain conditions of both nociceptive and neuropatic origin. Nosignificant adverse effects associated with the treatment was reported.The company’s lead product, 2PX, is topically administered, utilizing dermal penetration enhancers for delivery of the active agent to its subdermal site of action. Phase I safety and pharmacology studies showed the active agent to have low systemic bioavailability, and only few and minor adverse effects were observed at the site of administration. In open label Phase II clinical trials, the product has shown strong analgesic effect in both nociceptive and neuropatic pain conditions. In follow up, placebo controlled trials, the analgesic effect of the product has been further documented. In the company’s most advanced pain indication under study, osteoarthritis, the company has recently completed the Phase II program.These trials supports the open label results and document statistically that the analgesic effect in patients treated with 2PX is superior to that observed with placebo treatment.
  • Action Pharma — Action Pharma A/S operates as a research and development focused biotechnology company. It discovers and develops new drugs and treatment concepts to treat cardiovascular disease and inflammatory diseases, as well as metabolic diseases, such as type-II diabetes and obesity. The company's product pipeline includes AP214, a modifiedÐMSH-peptide analogue for the treatment of post-surgical kidney injury associated with cardiac surgery; and AP1030 and AP11 series, oral anti-diabetic (OAD) for the treatment of type-II diabetes associated with overweight/obesity. Its product pipeline also comprise AP1189, an oral anti-inflammatory compound for the treatment of inflammatory diseases, such as inflammatory bowel disease and rheumatoid arthritis; and AP405, a modified MSH peptide analogue for the treatment of inflammatory skin diseases, such as atopic dermatitis. The company was founded in 2000 and is based in Holte, Denmark.
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Earlybird Venture Capital
VC Fund · Berlin, Berlin, Germany · 2 investments in Finland Hardware startups

Founded in 1997, Earlybird is a pan-European VC investor backing tech-enabled companies and investing in their growth and development. Funds include Earlybird, Earlybird Health, Growth Opportunities.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: Germany, United States, United Kingdom

Investor stats

  • Total investments: 408
  • Round size: Seed $1.5M–$14M; Series A $3.5M–$34M; Series B $5.3M–$75M
  • Lead/follow: 46% lead, 54% follow
  • Last fund: Likely actively investing — fresh fund, raised $422M in 2026

Portfolio highlights

  • Avrea — Drop-in replacement for GitHub Actions runners. About 2x faster on hardware alone, up to 10x with cache hits. Deep observability on every job.
  • ColibrITD — ColibriTD leader of Simulation solutions using Quantum computing
  • FirstWork — Applied AI for frontline enterprises. Forward-deployed AI agents that automate workforce operations inside your existing systems.
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Draper Associates
VC Fund · San Mateo, California, United States · 2 investments in Finland Hardware startups, 38 in the past 12 months

Draper Associates, founded in 1985, is a seed-stage venture capital firm that helps entrepreneurs to drive their businesses to greatness. We understand that a great company takes time to build and we'd like to ensure that entrepreneurs are in for the long haul.

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Investment focus

  • Industry: Software, Artificial Intelligence, Blockchain
  • Stage:Seed, Series A, Series B
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 536
  • Round size: Seed $700k–$7.7M; Series A $2.5M–$25M; Series B $3.6M–$41M
  • Lead/follow: 28% lead, 72% follow
  • Last fund: Likely actively investing — fresh fund, raised $200M in 2025

Portfolio highlights

  • Wisecut AI — Wisecut is an automatic video editor based on voice recognition
  • mogul club — Mogul is a real estate investment company specializing in crowdfunded commercial property investment and acquisition. Mogul can help you buy rental property and expand your investment portfolio.
  • Austin Sensing Company — Austin Sensing Company develops sensing systems and autonomy software for airspace awareness, drone operations, and defense applications. The company designs and manufactures radar, passive RF, and acoustic sensors to detect and track aircraft and drones.
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Boost VC
VC Fund · San Mateo, California, United States · 2 investments in Finland Hardware startups, 14 in the past 12 months

Boost VC: The Pre-Seed Fund Making Sci-FI a Reality. Investing in crypto, virtual reality, augmented reality, AI, Ocean Tech, Space Tech, human augmentation, exoskeletons and more.

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Investment focus

  • Industry: Software, Virtual Reality, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Venture - Series Unknown
  • Geography: United States, Canada, United Kingdom

Investor stats

  • Total investments: 448
  • Round size: Seed $195k–$6M; Pre-Seed $100k–$2.6M; Venture - Series Unknown $620k–$8.9M
  • Lead/follow: 13% lead, 87% follow
  • Last fund: Likely actively investing — fresh fund, raised $88M in 2025

Portfolio highlights

  • SkinBit — SkinBit is a healthtech company that develops AI-powered skin cancer detection, digital mapping, and health monitoring solutions.
  • heXem bio — heXem bio specializes in recording solutions for the early development of humans for longevity.
  • Elita — Store your dog's stem cells with Elita. One-time opportunity to protect their future health and avoid costly surgeries later in life.
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Tiny Supercomputer Investment Company
VC Fund · San Francisco, California, United States · 2 investments in Finland Hardware startups, 19 in the past 12 months

Backing great companies when they're tiny

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Investment focus

  • Industry: Software, Artificial Intelligence, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: United Kingdom, Germany, United States

Investor stats

  • Total investments: 199
  • Round size: Seed $1.2M–$7.3M; Pre-Seed $750k–$3.5M; Series A $7M–$37M
  • Lead/follow: 1% lead, 99% follow

Portfolio highlights

  • MuRay — MuRay develops non-destructive 3D inspection technology powered by an artificial muon beam that is generated on demand via a compact laser-plasma accelerator. The startup's value proposition centers on replacing slow cosmic muon tracking with an active, rapid accelerator platform that yields 100x deeper material penetration than conventional X-rays. Its technology enables high-resolution, internal structural analysis of massive, high-density elements across industrial aerospace, automated security, and medical imaging applications.
  • Vessla — Vessla is the agentic OS for property operations, where agents and people run work together across the portfolio.
  • Honest Mobile — It's time for mobile done right. Explore SIM-only plans that include bills that go down, support in seconds and a shrinking carbon footprint as standard. One of the UK's top-rated mobile networks.
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Vendep Capital
VC Fund · Espoo, Southern Finland, Finland · 2 investments in Finland Hardware startups, 7 in the past 12 months

We back early-stage B2B SaaS founders in the Nordics & Baltics with capital, expertise, and long-term partnership. See how we invest and support growth.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Seed, Series A, Venture - Series Unknown
  • Geography: Finland, Denmark, United States

Investor stats

  • Total investments: 57
  • Round size: Seed $823k–$5.4M; Series A $3.9M–$13M; Venture - Series Unknown $1.4M–$13M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely actively investing — fresh fund, raised $93M in 2025

Portfolio highlights

  • Complir — Complir's AI agents map product data, analyse compliance risks, generate documentation and track regulations across every market you sell in.
  • SmallClaims — SmallClaims is a LegalTech company that provides technology-enabled legal collection and representation services for civil claims up to 100,000 DKK. The company represents businesses and private individuals in small claims under the simplified court process and in enforcement court proceedings. SmallClaims uses automated workflows, algorithms, and machine learning to assess cases, initiate proceedings, and manage large volumes of lawsuits. Its team acts as a party representative rather than a law firm, handling communication with courts, debtors, and debtor representatives. The service covers steps from initial demand letters and payment orders to court filings, judgment enforcement, and administration of instalment plans. SmallClaims aims to make pursuing smaller monetary claims procedurally manageable and economically viable for its clients.
  • EnforceShield — EnforceShield provides an agentic AI system designed to identify and eliminate stolen or misused content.
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Angular Ventures
VC Fund · London, England, United Kingdom · 2 investments in Finland Hardware startups, 6 in the past 12 months

Angular Ventures is a specialist venture capital firm committed to founders redefining global markets.

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Investment focus

  • Industry: Software, SaaS, Artificial Intelligence
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Israel, United States, United Kingdom

Investor stats

  • Total investments: 77
  • Round size: Seed $2.3M–$8M; Pre-Seed $622k–$3.1M; Series A $7M–$45M
  • Lead/follow: 44% lead, 56% follow
  • Last fund: Likely actively investing — fund raised in 2025

Portfolio highlights

  • Reco — SaaS Security Leverage Reco's context analysis to streamline SaaS security, minimize data and identity risk, and automate remediation
  • Verso — Verso is an AI-powered qualitative market research platform that automates consumer insights at scale. It uses adaptive AI to conduct 1-on-1 video or voice interviews with consumers worldwide, turning open-ended conversations into structured, actionable insights in under a week.
  • groundcover — Instantly pinpoint bleeding issues in production & troubleshoot quickly with groundcover. All with zero code changes.
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CapMan
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Finland Hardware startups

CapMan is a private markets pioneer in the Nordics. Our funds invest in real estate, infrastructure, natural capital and unlisted companies.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Private Equity, Series B
  • Geography: Finland, Russian Federation, Sweden

Investor stats

  • Total investments: 61
  • Round size: Series B $2.1M–$14M; Private Equity $16M–$100M
  • Lead/follow: 62% lead, 38% follow
  • Last fund: May invest from a new fund soon — raised $181M in 2019

Portfolio highlights

  • Nonna Group Oy — Nonna Group develops new types of housing for the elderly.
  • CSE Entertainment — WE BRING JOY AND MOVEMENT FOR MILLIONS OF PEOPLE AROUND THE WORLD. In our core is the idea of diversity and equality of physical activity and sport. We are changing eSport and Exergaming concepts, and in 2025 CSE will be the leading exergaming brand in the world. Our products and services are used widely in family entertainment, fitness,education, and rehabilitation.
  • Kuntokeskus Liikku — Kuntokeskus Liikku is a fitness club that provides multidisciplinary services like gym, aquatics, and sports training.
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Bragiel Brothers
VC Fund · San Francisco, California, United States · 2 investments in Finland Hardware startups

Bragiel Brothers is an early-stage venture capital fund that invests in seed and Series A rounds. Dan Bragiel launched the firm in San Francisco, California in 2016.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, Finland, Japan

Investor stats

  • Total investments: 83
  • Round size: Seed $1M–$7M; Pre-Seed $125k–$3M; Series A $6.7M–$25M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Salmon Labs — Use Salmon to transform your CRM. Effortlessly clean, verify, and enrich your data. with AI capabilities. Keep Your CRM Data Fresh and Dynamic.
  • Assured Health — Streamline healthcare credentialing, licensing & payor enrollment with Assured's all-in-one platform. Automate admin Ops, boost efficiency & manage providers effortlessly.
  • Inspectify — If you are looking to buy or sell a home, Inspectify helps you find the best home inspectors in your area.
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Nuard Ventures
VC Fund · Helsinki, Southern Finland, Finland · 2 investments in Finland Hardware startups

Nuard: Early-stage venture investment expert in gaming, AI, and tech sectors. With 75+ years of industry experience, we offer capital, knowledge, and a powerful network for your startup's success.

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Investment focus

  • Industry: IaaS, Video, Gaming
  • Stage:Seed, Angel, Pre-Seed
  • Geography: Finland, Germany, United States

Investor stats

  • Total investments: 9
  • Round size: Seed $159k–$680k
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • WARD — WARD is a fantasy sport game, where fans can watch their favourite eSports matches and predict what will happen in real time.WARD is a startup out of Berlin which has created a “pick and predict” real-time prediction smartphone game, where players can win real prizes. People love to watch e-sports. We believe on these occasions they still want tobe able to participate.However, until now no product has offered anything other than the ability to watch. There’s been no way for fans to spectate, participate, analyse and predict the outcomes of their favourite games.
  • MVision AI — AI-powered solutions that automate repetitive tasks, enable efficient radiotherapy workflows, and promote consistency across clinical processes.
  • Polka Dot Studio — Kalian Bisa Memasang Taruhan Online Dengan Sangat Mudah Dan Nyaman Di Situs DEWAHOKI Yang Sudah Resmi Di Indonesia
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Hardware VC funding in Finland at a glance

Stats across 535 deals from 450 investors.

450
investors
in Finland Hardware startups
535
deals
in Finland Hardware startups
$2M
median round
in Finland Hardware startups
42%
lead investors
lead at least one round
28%
Seed
most common funding stage

Access all 450 VC funds in Finland Hardware startups.

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Does Shizune have investor emails and contacts?

Shizune enriches investors with contact data that includes: email, phones, LinkedIn, socials, website, and others.

To guarantee the highest discovery rate, we search across 20+ contact search tools.

To maximize delivery rate and reduce bounce rate, we validate emails.

You can enrich your investor list with Shizune. Download it too.

What is Shizune?

Shizune is a 48,091 investor database updated daily.

With Shizune you can:

  • browse the database
  • use smart matching
  • enrich with emails
  • download

All you need to find investors for your startup.

Who is Shizune for?

Shizune is built for startup founders by startup founders.

If you are looking for funding for your startup, try the Shizune database — we have investors for every stage, industry, and country.

Is Shizune free?

Shizune is free forever. You can search and browse investors for free.

Email search and export are paid features.

For full info, visit our pricing.

Who built Shizune?

Shizune is built by founders with the goal of helping all founders raise funding no matter where they are.

Contact 100 investors today

Find who invests in your industry, stage, and country. Download investor list with emails in 5 minutes.

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