Industrifonden — Full Portfolio

Cellevate develops Cellevat3d nanofiber-based microcarriers and cell culture systems for upstream bioprocessing, used in viral vector, viral vaccine, and stem cell production by gene therapy and biopharmaceutical organizations.

Advanced ManufacturingBiotechDeep TechMedical DevicesNew MaterialsLong Beach, US

Maximilian Ottosson(Founder)inClint Monfort(Executive Officer, Director, Promoter)

Co-investorsEuropean Investment BankOnsight VenturesEICEuropean Innovation Council Fund

SeaPattern is a Swedish hydropower startup developing floating turbines, with pre-series units manufactured through a collaboration with Actemium (VINCI Energies).

CleantechClimate TechEnergyStockholm, SE

ShardSecure provides agentless, file-level encryption and its patented Microshard technology to secure data across on-premises, cloud, and hybrid/multi-cloud environments for enterprises.

Cloud ComputingCybersecurityData & InfrastructureEnterprise SoftwareSaaSNew York, US

Bob Lam(Executive Officer, Director)in

BoardRon Gula(Director)inLouis A. Steinberg(Director)Jesper Tohmo(Director)Stephen Fredrick(Director)inNick Efstratis(Director)in

Co-investorsGula Tech AdventuresEPIC VENTURESGrotech Ventures500 GlobalSINEWAVE VENTURESThe Fund

Teitur Trophics is a biotech company developing first-in-class cyclic peptides that target lysosomal, mitochondrial and pro-survival signaling pathways to preserve neuronal function.

BiotechDeep TechHealthtechAarhus, DK

Simon Mølgaard(Co-founder & CEO)Anders Dalby(Co-founder)Mathias Ollendorff(Co-founder)Simon Glerup(Co-founder)

Co-investorsP53 InvestInnovestorSound BioventuresSunstone Capital

NuvoAir provides virtual-first specialty care for chronic cardiopulmonary and sleep conditions such as COPD, asthma, and sleep apnea, combining FDA-cleared at-home monitoring devices, personalized care plans, and remote monitoring.

Digital HealthHealthtechMedical DevicesBoston, US

Lorenzo Consoli(Founder)inHakan Sjunnesson(Director)Daniel Spasic(Director)Simon Cartmell(Director)Erik Lystedt(Executive Officer)

BoardGary Kurtzman(Director)

Board seatPatrik Sobocki· per SEC Form D

Co-investorsAlbionVCHikma VenturesKAYA

Adamant Quantum develops chip-scale quantum sensors and timing components based on synthetically grown diamonds with engineered crystal defects, used for sensing, navigation, communication, and metrology.

Deep TechHardwareQuantum Computing

Co-investorsNavigare Ventures

Adfenix offers an automated, AI-powered sales and marketing platform built for real estate professionals to create and manage marketing at scale.

Marketing TechPropTechSaaS

Co-investorsNotion CapitalSpiltan Invest

Airsonett develops the Air4, a CE-marked Class 1 medical device that uses patented Temperature-controlled Laminar Airflow (TLA) to deliver clean, allergen-free air around a patient's face during sleep for home treatment of allergic asthma and atopic dermatitis.

HardwareHealthtechMedical Devices

Co-investorsFSG

AlixLabs develops Atomic Layer Etch (ALE) equipment for semiconductor manufacturing, including its Atomic Pitch Splitting (APS) technology that replaces multiple patterning steps with a single process to lower the cost of producing leading-edge chips.

Deep TechHardwareSemiconductors

Co-investorsAlmi InvestLU InnovationNavigare VenturesFORWARD.one

AnaCardio is a clinical-stage biopharmaceutical company developing novel drugs to treat heart failure, including its GOAL-HF1 program for patients with Heart Failure and Reduced Ejection Fraction (HFrEF).

BiotechMedical DevicesStockholm, SE

Co-investors3B Future Health FundNovo HoldingsPureos BioventuresSound Bioventures

Apica provides a telemetry data management platform that processes, enriches, and governs metrics, logs, traces, and events for observability and AI use cases.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareStockholm, SE

Mathias Thomsen(CEO)

Co-investorsLeo Capital VenturesOxxRiverside Acceleration CapitalOsage Venture Partners

British hi-fi and home cinema electronics maker A&R Cambridge (Arcam), owned by Harman International, a Samsung subsidiary.

Co-investorsElevate VenturesSkagerak Capital

Arevo develops a proprietary crop nutrition technology (Arginex) that activates the plant root zone to improve nutrient uptake, offering growers an alternative to conventional mineral fertilisers.

AgTechBiotechClimate TechMilpitas, US

Bruce Armstrong(Director)Brian Shin(Director)Sonny Vu(Executive Officer, Director)

Co-investorsNavigare Ventures

Asgard Therapeutics is a biotech company developing cancer immunotherapies using direct cell reprogramming and gene therapy, with a lead program (AT-108) built as an off-the-shelf gene therapy.

BiotechHealthtech

Co-investorsLU InnovationNovo HoldingsBoehringer Ingelheim Venture Fund

Avassa offers an application and AI model management, operations, and orchestration platform built for resource-constrained edge and IIoT environments, letting companies remotely deploy, update, monitor, and troubleshoot containerized edge applications at scale.

Cloud ComputingDeveloper ToolsIoTStockholm, SE

Claes Wikstrom(Founder)Johan Bevemyr(Founder)Martin Bjorklund(Founder)Urban Lindegren(Founder)

Co-investorsFairpoint Capital

Avidicare makes Opragon, an ultra-clean air ventilation system for healthcare settings such as operating rooms, laboratories, sterile supply departments, ICUs, isolation rooms, and pharmacies, aimed at preventing airborne and surgical site infections.

CleantechHealthtechMedical DevicesLund, SE

Co-investorsAlmi Invest

BONESUPPORT is an orthobiologics company that develops and markets CERAMENT, a line of injectable, radiopaque, osteoconductive and drug-eluting bioceramic products that remodel into host bone.

BiotechHealthtechMedical Devices

Co-investorsHealthCap

BrainZell produces high-throughput brain organoids derived from induced pluripotent stem cells (iPSCs) that mimic human neural biology, including components of the brain's immune system.

AI & Machine LearningBiotechDeep Tech

Calliditas develops novel therapeutics for orphan indications, with an initial focus on renal and hepatic rare diseases.

BiotechHealthtech

Co-investorsSofinnova PartnersKreos Capital

Cascade Drives develops electric power steering (TruEPS) and linear electric actuators for commercial and heavy-duty electric vehicles, marine loading arms, and industrial applications.

CleantechHardwareMobility & Transportation

Co-investorsTechFounders

CellaVision develops digital hematology microscopy solutions—including analyzers, instruments, reagents, and software—that automate cell morphology workflows in hematology laboratories for human and animal blood and body fluid samples.

AI & Machine LearningHealthtechMedical DevicesLund, SE

Crosser is a low-code real-time integration and stream analytics platform for building and deploying event-driven data pipelines across edge, on-premise, and cloud environments.

Data & InfrastructureIoTSaaS

Co-investors42CAPSpintop VenturesAlmi InvestNorrlandsfonden

DbVisualizer is a universal database client and SQL tool that connects to a wide range of relational and non-relational databases, offering an advanced SQL editor, data visualization, inline editing, exporting, Git version control, and an integrated AI assistant.

Data & InfrastructureDeveloper ToolsSaaS

Co-investorsFairpoint Capital

Digip is a trademark and IP management platform combined with in-house legal attorneys that files, prosecutes, renews, and monitors trademarks and domains across 100+ jurisdictions.

B2B MarketplacesLegalTechSaaS

Jimmy Hörström(Founder)in

Co-investorsAntler

DPOrganizer, now part of DataGuard, provides a SaaS platform for data privacy management that maps data subject categories, assets, and processes and maintains RoPA (Records of Processing Activities).

CybersecurityLegalTechSaaS

eBuilder provides enterprise SaaS services in business process automation, information security, and predictive analytics.

CybersecurityEnterprise SoftwareSaaS

Echandia develops maritime battery systems for heavy-duty applications, offering ultra-fast charging, long cycle life, and support for hybrid and fully electric propulsion.

CleantechEnergyMobility & Transportation

Co-investorsCourse Corrected VC Holding IIS2G InvestmentsEnergy & Environment Investment

Elypta develops a metabolism-based liquid biopsy that measures the GAGome, a set of biomarkers of tumor metabolism, and applies machine learning to noninvasively detect cancer signatures.

AI & Machine LearningBiotechMedical Devices

Co-investorsBonnier CapitalChalmers Ventures ABNavigare VenturesNina CapitalNorrsken VCSciety

EnginZyme develops a patented enzyme immobilisation technology to create stable, bespoke biocatalysts for use in multi-step enzymatic reactions.

BiotechCleantechNew Materials

Co-investorsNavigare VenturesSofinnova Partners

Envirotainer provides temperature-controlled cold chain container solutions for transporting pharmaceuticals, serving pharmaceutical companies and logistics partners across the global supply chain.

BiotechHardwareLogistics & Supply Chain

Co-investorsCinven

Exeri provides a turnkey monitoring system for overhead power grids that helps utilities and grid owners identify, locate, and prevent outages.

CleantechEnergyIoT

Fibbl operates a 3D and AR platform that creates true-to-life 3D product models from physical samples and delivers interactive 3D viewers, virtual try-on, AR, and rendered product content for ecommerce, marketing, and B2B sales channels.

E-commerceRetail TechSaaS

Henrik Arlestig(CEO)

Fishbrain is a mobile app for anglers that provides catch location data, depth charts, AI-powered fishing spot prediction, weather intel, bait recommendations, and local fishing regulations.

AI & Machine LearningConsumerSocialSports Tech

Footway operates e-commerce infrastructure for brands and retailers, offering shared logistics, order fulfillment, returns, and multilingual customer support, plus dropshipping and a multi-brand marketplace.

E-commerceLogistics & Supply ChainRetail Tech

Co-investorsNorthzone

Personalized hair, scalp, and skin care designed and refined over time by your own chemist.

Co-investorsAcorn Pacific VenturesAllied Venture PartnersJapan AngelsJ12 Ventures

Freemelt develops industrial metal 3D printers using Electron Beam Powder Bed Fusion (E-PBF) technology for serial production of metal components from materials like tungsten, titanium, and copper.

Advanced ManufacturingDeep TechHardware

Funnel is a marketing data platform that connects to 600+ advertising, analytics, and sales sources to centralize, clean, and govern marketing data for delivery to warehouses, BI tools, and AI/agentic workflows.

Data & InfrastructureMarketing TechSaaS

Co-investorsBalderton CapitalF-Prime CapitalNavisionGroupOxxTrinity VenturesCamber Creek+1 more

Gårdsfisk raises fish on Swedish farms in a near-closed-loop system where fish waste fertilizes crops grown on the adjacent fields, aiming to reduce overfishing and eutrophication.

AgTechCircular EconomyFoodTech

Gesynta Pharma develops pharmaceutical treatments for inflammation and pain by selectively inhibiting the enzyme mPGES-1.

BiotechDigital HealthFemTechStockholm, SE

Patric Stenberg(Founder)Gunilla Ekström(Founder)in

Co-investorsAmboy Street VenturesCatalyze CapitalForeground CapitalHadean VenturesHealthCapXGEN Venture

Guard Therapeutics International is a biopharmaceutical company developing treatments for kidney disease, including its lead drug candidate RMC-035 and its GTX peptide platform.

BiotechHealthtech

Tobias Agervald(CEO)

Hopsworks provides an AI Lakehouse platform that integrates data science, data engineering, and machine learning into a unified environment for building and deploying AI models.

AI & Machine LearningData & InfrastructureSaaSPalo Alto, US

Co-investorsFrontline VenturesVendep Capital

HVR Cardio develops the CathHELIX transcatheter mitral valve repair system, a device that reduces the mitral annulus and deploys a self-securing ring to reshape the annulus and restore native leaflet function.

HardwareHealthtechMedical Devices

Co-investorsInnovestor

Inriver provides a Product Information Management (PIM) platform for brands, manufacturers, and retailers to manage and optimize product data across omnichannel commerce.

AI & Machine LearningE-commerceEnterprise SoftwareSaaS

Roland Persson(Founder)in

Co-investorsGolub Growth

Provider of silicon carbide substrates for the semiconductor industry with superior cost and quality.

Kisab Semi produces 8-inch, Basal Plane Dislocation (BPD)-free n-type silicon carbide (SiC) substrates for the semiconductor industry.

HardwareNew MaterialsSemiconductors

Co-investorsFairpoint Capital

Limina provides a cloud-based Investment Management Solution (IMS) that combines portfolio management, order management, compliance, risk analysis, performance attribution, investment operations, and data management workflows in one platform.

Enterprise SoftwareFintechSaaS

Co-investorsGoose Valley Ventures

Melt&Marble uses precision fermentation, microbial metabolic engineering, and synthetic biology to produce fats and ingredients aimed at creating more sustainable food products.

BiotechClimate TechConsumerFoodTechNew MaterialsGothenburg, SE

Anastasia Krivoruchko(Co-founder & CEO)inFlorian David(Co-founder & CSO)inJens Nielsen(Co-founder & Chairman of the Board)inThomas Cresswell(Chief Business Officer)inTue Holdal(Chief Technology Officer)in

Co-investorsBeiersdorf Innovation FundCatalyze CapitalChalmers Ventures ABLever VCNordic Foodtech VC

Meniga provides a hyper-personalised banking platform that turns transaction data into AI-driven insights, notifications, and personalised experiences for banks and financial institutions.

AI & Machine LearningFintechSaaS

Piotr Tybura(Chief Technology Officer)

Co-investorsAnthemis VentureBootstrap EuropeVelocity Fintech VenturesFrumtak Ventures

Micvac provides an in-package microwave cooking and pasteurization method for ready meal manufacturers, extending shelf life to 45+ days without overprocessing while reducing labor, water, and energy use.

Advanced ManufacturingCleantechFoodTech

Co-investorsChalmers Ventures AB

MinervaX is a clinical-stage biotech company developing a prophylactic vaccine against Group B Streptococcus, with a lead candidate (AlpN GBS) in clinical trials for use in pregnancy and older adults.

BiotechHealthtech

Co-investorsAdjuvant CapitalLU InnovationOrbiMedPureos BioventuresSanofi VenturesSunstone Capital+2 more

Movimento provides flash and reflash services for automotive electronic control units, including preproduction, in-plant, and emergency on-site reflash support, along with hardware such as its PUMA handheld devices and in-plant flash stations.

Advanced ManufacturingHardwareMobility & Transportation

Chad Kirchoff(General Manager)

Nextory is a subscription streaming service offering access to over 1.4 million audiobooks and e-books through an iOS and Android app, with offline reading and family profiles.

ConsumerMedia & EntertainmentSaaS

Co-investorsCNI

Nodica Group is a family of brands that designs and manufactures application-independent power systems and key sub-systems for particle accelerators.

Deep TechHardwareMedical Devices

Novatron Fusion is developing a fusion energy reactor called NOVATRON, using a magnetic field design and triple-force plugging technology aimed at achieving stable magnetic confinement.

CleantechDeep TechEnergy

Jan Jäderberg

Co-investorsAxon Partners Group

Co-investorsSunstone Capital

Oatly makes oat-based food and drink products, including oat drinks, chilled oat drinks, cooking products, and oatgurt.

Climate TechConsumerFoodTech

Rickard Öste(Founder)Björn Öste(Founder)

Co-investorsCoefficient CapitalDynabrand VenturesFELIX CAPITALK2 GlobalOyster Bay Venture CapitalUnovis Asset Management+3 more

Occtoo provides a product orchestration engine that unifies product data—including descriptions, media, customer, supplier, and transactional data—in a single no-code platform.

Data & InfrastructureRetail TechSaaS

K.A Niclas Mollin(Founder)inJimmy Ekbäck(Founder)in

Co-investors42CAPNewion

Oncopeptides develops cancer therapies based on proprietary Peptide Drug Conjugate (PDC) and SPiKE technology platforms, targeting rare hematological diseases such as multiple myeloma.

BiotechHealthtech

Co-investorsHealthCap

Open Payments is an API aggregator that connects financial institutions and businesses to multiple banks through a single unified API, supporting account information retrieval and payment initiation under the PSD2 directive.

Data & InfrastructureEnterprise SoftwareFintechStockholm, SE

Co-investorsGlobal BrainGoose Valley VenturesLuminar VenturesAlfvén & Didrikson

Photon Sports offers a mobile athlete-tracking system that uses patented 3D, 60Hz data capture and synchronized high-frame-rate video to measure acceleration, deceleration, change of direction, and movement quality on any surface.

AI & Machine LearningHardwareSports Tech

Pixelgen Technologies develops the Proxiome Kit, powered by its patented Proximity Network Assay, to analyze the spatial organization, abundance, and colocalization of proteins on the surface of single immune cells at nanoscale resolution.

BiotechDeep TechHardware

Co-investorsNavigare Ventures

Purpose Pharma is a European pharmaceutical company that develops and commercializes products for rare diseases and specialty care in areas of high unmet medical need.

BiotechHealthtechStockholm, SE

Co-investorsEIR Ventures

Qlik provides a data integration and analytics platform, including an agentic AI framework, that helps enterprises turn their data into insights and actions for business decisions.

AI & Machine LearningData & InfrastructureEnterprise Software

Co-investorsJerusalem Venture Partners (JVP)Lighthouse Network Ventures LlcThoma Bravo

Realforce is a SaaS platform for real estate marketing that connects providers, consumers, and suppliers to automate and scale digital advertising for property listings.

Marketing TechPropTechSaaS

Retein develops a patented molecular separation technology, based on bio-inspired stabilized channel proteins, to recover high-purity resources such as clean water and lithium from water sources.

CleantechDeep TechNew Materials

Co-investorsButterfly VenturesNavigare Ventures

SaltX Technology develops electric calcination and carbon capture technologies, including its Electric Arc Calciner (EAC), to electrify heavy industries such as cement and quicklime production and eliminate their fossil fuel and process CO2 emissions.

CleantechClimate TechEnergy

Senseworks offers cloud-based software for financial auditors and accountants, including an analysis tool for general ledger review and an audit module that automates parts of the audit process using a quality-assured ISA/ISA LCE methodology.

AI & Machine LearningFintechSaaS

Co-investorsCuritas Ventures

Co-investorsBalderton CapitalBY Venture PartnersFuel Venture CapitalNorthzoneTitan Capital Partners

Soundtrap is an online music-making studio for recording, composing, mixing, and mastering songs in the browser on any device.

Creator EconomyMedia & EntertainmentSaaS

Telness Tech provides Seamless OS, a cloud-native BSS/operations platform for mobile operators that automates operations, manages billing and subscriber lifecycles, and integrates AI agents.

AI & Machine LearningEnterprise SoftwareSaaS

Texray develops radiation protection textiles for medical professionals, including patented products designed to reduce scatter radiation during fluoroscopy-guided interventions.

HealthtechMedical DevicesNew Materials

ToxoTech is a biopharmaceutical company developing therapies for neurological disorders.

BiotechHealthtech

Trackpaw develops hands-free, non-invasive monitoring systems that continuously track health parameters such as weight, activity, and respiration of research mice in group-housed settings.

BiotechHardwareIoT

Co-investorsLU InnovationAlmi Invest

Trialbee provides a patient recruitment platform (Honey) that uses AI, behavioral insights, and real-time eligibility checks to reach, pre-screen, and refer trial-ready patients for clinical trials.

AI & Machine LearningDigital HealthHealthtech

Matt Walz(CEO)Martin Kilsgard(Head of Product)

Co-investorsVarsity Healthcare Partners

Tribune Therapeutics is a preclinical biopharmaceutical company developing medicines that target CCN protein family signaling (such as CCN2/CTGF) to block fibrotic pathways.

BiotechHealthtech

Ole Kaasbøll(Co-founder)

Co-investorsHealthCapLifeArc VenturesInvestinorNovo Holdings

TrusTrace offers an AI-powered SaaS platform for supply chain traceability, risk, and compliance management, letting companies track suppliers, materials, and certifications and collect primary data from the value chain.

AI & Machine LearningLogistics & Supply ChainSaaS

Co-investorsFairpoint Capital

Supply chain traceability platform that standardizes and digitalizes material data capture and sharing for brands.

Viking Analytics builds MultiViz, an AI-powered vibration analysis platform that uses unsupervised machine learning to detect early machine faults and prioritize maintenance alerts for reliability and maintenance teams.

Advanced ManufacturingAI & Machine LearningIoTGöteborg, SE

Rajet Krishnan(Founder)

Co-investorsFairpoint CapitalFinindusABB Technology Ventures

Yangi produces complete dry-formed paper fiber machine lines and offers prototyping, lab services, and an industrial demo platform for packaging producers seeking plastic-free, fiber-based packaging.

Advanced ManufacturingCircular EconomyNew Materials

ZalVac develops vaccines designed to produce broad immunity against multiple strains of bacteria.

BiotechHealthtech

Technology that delivers up to 50% higher performance per watt by optimizing information processing in microchips.

Co-investorsChalmers Ventures ABMatterwave Ventures

ZeroPoint develops hardware compression IP that compresses and decompresses data in silicon across the memory and storage hierarchy, reducing the memory bandwidth bottleneck for AI accelerators, CPUs, and networking SoCs.

AI & Machine LearningDeep TechSemiconductors

Co-investorsMatterwave Ventures

Zymego provides an automated appointment management system for healthcare providers that fills cancelled slots by notifying waiting patients and rebooking them within 90 seconds, integrating with EHR systems to reduce wait times, no-shows, and booking admin.

Digital HealthHealthtechSaaS

Co-investorsSpintop Ventures