12 Top Startups in Sweden 2024

Landscape image of Sweden.

When you think of Sweden, you may think of stunning, sprawling mountain ranges or their decadent chocolate treats, not their burgeoning startup scene, but this Northern European country is full of surprises. 

As any entrepreneur knows, good business ideas come from anywhere, and Sweden has their fair share of incredible startups that folks everywhere should keep an eye on. We’ve compiled a list of the ones that excite us most and are bringing cutting-edge products to their respective markets.

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Best Swedish Startups

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the best startups in Sweden of 2024 that startup lovers, investors, and aspiring entrepreneurs should follow. 

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

1. H2 Green Steel

  • Industry: Greentech, Industrial Manufacturing 
  • Founders: Carl-Erik Lagercrantz, Harald Mix
  • Founded In: 2020
  • Funding: $5.4 Billion USD
  • Investors Include:  Altor, Hy24, GIC, Just Climate, IMAS Foundation, Schaeffler Group, Cristina Stenbeck, Temasek Holdings 

Building toward the future never felt so good. H2 Green Steel is an industry-leading steel production plant whose goal is to “accelerate the decarbonization of the steel industry using green energy.” By utilizing green hydrogen and other raw, renewable materials, their AI- and digitally-automated steel plant brings their customers fossil-free steel at a fair, reasonable price. 

2. Volta Trucks

  • Industry: Electric Vehicle, Logistics, Automotive
  • Founders:  Carl-Magnus Norden, Kjell Walöen
  • Founded In: 2019
  • Funding: $390.9 Million USD 
  • Investors Include: Luxor Capital Group, Byggmästare A J Ahlström, Proterra, Agility, Waypoint Capital

Volta Trucks is revolutionizing the way the world uses and perceives electric vehicles. They specifically offer electric semi-trucks in order to build more sustainable cities. With their sleek, innovative design and commitment to sustainability, these zero-emission vehicles are a frontrunner in combating climate change. 

3. Heja

  • Industry: Fitness, App, Sports
  • Founders: Johan Berglund, Mikael Blix
  • Founded In: 2018
  • Funding: $6.8 Million USD
  • Investors Include: Luminar Ventures, Peak, Max Ventures, Bonnier Ventures, Inbox Capital, Caroline Ingeborn, Matthias Weinhandl, Ted Nelson

Parents of sports lovers rejoice – Heja’s mobile app was designed to help parents communicate more effectively with their children’s sports team members, coaches, and more. Juggling an extracurricular activity for kids can be hectic, but Heja is here to make sure it isn’t with their all-in-one messaging app that can help organize carpools, send snack reminders, and allow coaches to send necessary updates to everyone all at once. 

4. Estrid

  • Industry: Ecommerce, Beauty and Wellness, Personal Health, Women’s Health
  • Founders: Alan Aygun, Amanda Westerbom
  • Founded In: 2019
  • Funding: $28.3 Million USD
  • Investors Include: Ark Kapital, Johan Blomqvist, Josefin Landgård, Camsten AB, Kichi Invest, Mattias Miksche

Estrid is a new, state-of-the-art online portal that offers women’s health products that are not only designed with women in mind – they are free from animal cruelty as well. Estrid’s all-vegan products never test on animals, and their Aurora Razor is designed to last a lifetime. Their other product offerings include daily moisturizers, shower scrubs, and waxing kits. 

5. Hiber

  • Industry: Social Media, Video Games, Online Games
  • Founders: Mattias Johansson, Michael Yngfors
  • Founded In: 2017
  • Funding: $19.5 Million USD
  • Investors Include: EQT Ventures, Nordic Secondary Fund, Konvoy, CMT Digital Ventures, Luminar Ventures, SYBO Games, Dreamcraft Ventures, Eros Resmini

Hiber is changing the way we interact with online gaming by allowing gamers to not only interact with one another but also share their original gaming content and play together. Their goal is “to accelerate this change by lowering the barriers to both creation and participation, enabling billions of people to join in.” They do this through their proprietary 3D gaming platform, Hiber 3D, which is compatible with most major internet browsers, mobile devices, and tablets. 

6. Einride

  • Industry: Transportation, Electric Vehicles
  • Founders: Filip Lilja, Linnéa Kornehed, Robert Falck
  • Founded In: 2016
  • Funding: $652.3 Million USD
  • Investors Include: Plug and Play Ventures, Barclay Corporate Banking, EQT Ventures, Norrsken VC, Polar Structure, Northzone, Wolfswood Partners, Temasek Holdings, AMF, Nineyards Equity

Einride is lending itself to the electric vehicle industry by creating the first autonomous electric freight vehicle. They provide digital, electric, and autonomous shipping, and their proprietary technology allows users to track their self-driving trucks’ routes and assignments in order to gather better data and insight, as well as order and track shipments throughout the entire commerce process. 

7. Karma

  • Industry: Food and Beverage, Sustainability, Mobile Apps, Shopping 
  • Founders: Elsa Bernadotte, Hjalmar Ståhlberg Nordegren, Ludvig Berling, Mattis Larsson
  • Founded In: 2015
  • Funding: $20.2 Million USD
  • Investors Include: Bessemer Venture Partners, Norrsken VC, Headline, Kinnevik, Rocketship.vc, Electrolux, Sophia Bendz

Karma is another startup on this list doing their part to help fight climate change. Their mobile app is designed in order to help restaurants and grocery stores cut down on their food waste. They do this by allowing those suppliers to sell the items they don’t use to consumers at a reduced price, meaning registered users have access to an online marketplace of discounted takeaway items. Sounds like a delicious win-win-win to us!

8. Carla

  • Industry: Automotive Rental
  • Founders: Niklas Jungegard
  • Founded In: 2020
  • Funding: €29 Million ($30.9 Million USD)
  • Investors Include: Bonnier Ventures, VNV Global, Inbox Capital, VNV Global, Black Ice Capital, Luminar Ventures, Max Ventures, FJ Labs

Carla is offering consumers the easiest, most convenient, and transparent way to purchase or lease an electric vehicle. They set out to make this process as easy as buying a pair of shoes, and their online platform was the solution that allows consumers to pick out and test drive an EV at the touch of a button without having to deal with car salesmen and head-scratching talk about payments. 

9. Anyfin

  • Industry: Fintech, Financial Services, Lending
  • Founders: Filip Polhem, Mikael Hussain, Sven Perkmann
  • Founded In: 2017
  • Funding: $138.1 Million USD
  • Investors Include: Accel,  FinTech Collective, Northzone, Quadrille Capital, Augmentum Fintech, EQT Ventures, Citi Ventures, Capricorn Capital Partners

Anyfin is a smart finance app that empowers people to understand and improve their own finances.  Their app is designed to cut out middlemen and to simplify large financial processes, like applying for a loan or credit card, as well as just generally helping consumers keep track of their money. Rather than have consumers become more indebted to them, they want to help them become debt-free and able to handle their money autonomously. 

10. Prosero Security Group

  • Industry: Information Technology, Security 
  • Founders: Mikael Norlander (CEO), Erik Englund (CFO)
  • Founded In: 2017
  • Funding: N/A
  • Investors Include: Armada Credit Partners

Prosero Security Group is a startup that provides surveillance, security lock, and alarm installation services to residential and business buildings. The company was founded by eight leading security companies in Norway and Sweden, and they deliver state-of-the-art security systems via a decentralized business model, meaning the startup meets consumers at the local level in order to better service their needs. 

11. Petbuddy Group

  • Industry: Pet, Subscription Service, Ecommerce
  • Founders: Alex Baumann, Alex Retzlik, Erik Wide Gustafsson
  • Founded In: 2018
  • Funding: $2.3 Million USD
  • Investors Include: Luminar Ventures, Insta Ventures, FEA Angels, Richard Setterwall, Johan Kleberg

Petbuddy Group is changing the game when it comes to feeding your furry friends. Their direct-to-consumer subscription service allows consumers to choose only the best products for their animals, primarily stocking only sustainable brands. In addition to high-quality dog food, the startup launched Rockybox in 2020, which is a dog treat subscription box. 

12. Northvolt

  • Industry: Clean Energy, Manufacturing, Battery 
  • Founders: Paolo Cerruti, Peter Carlsson
  • Founded In: 2016
  • Funding: $8.7 Billion USD
  • Investors Include: Investment Management Corporation of Ontario, Canada Pension Plan Investment Board, Swedbank Robur, Goldman Sachs, Volkswagen Group, Baillie Gifford, OMERS Private Equity, BlackRock, GIC, Chow Tai Fook

Northvolt joins the other EV startups on this list by providing a cutting-edge battery not only for electric vehicles but industrial and energy storage systems as well. Their sustainable lithium-ion batteries are designed in an effort to curb the carbon footprint it takes to create other power systems and strive to do so by not compromising ecosystems already in place in order to attain the lithium they need. 

Recommended: Check out our full list of the top startups to watch!